Posted on 06/12/2018 11:03:54 AM PDT by C19fan
Millennials expect to make it big some day, with more than half reporting that they believe they will eventually become millionaires, according to a new study.
Despite having crushing student loans (20 percent never expect to pay them off), credit card and other debt, people born between 1982 and 2000 share a confidence when it comes to their financial outlook.
'Young people are optimistic about the future,' said JJ Kinahan, chief strategist for TD Ameritrade, in a statement on the company's new report. 'On average, survey respondents expect to land a job in their chosen field and be completely financially independent by age 25.'
(Excerpt) Read more at dailymail.co.uk ...
(A) to reach retirement it may well happen
(B) with homes running over $250-750k these days they’d better hope the di
(C) inflation may get them there sooner than later but while prices have gone up wages froze or tanked
(D) if they are all pro-socialist, why do they even want money?
And they support socialism. What is wrong with this picture?
Problem is that these kids are not buying houses as part of their investment asset building strategy - that generally accounts for a nice chunk of personal assets over time.
Plus they’re not working, so saving in a 401k is difficult and they bounce around so they may give up vesting in the employer match.
Maybe they’ll inherit a million and that’s their plan?
My kids (not sure if they are millennials) may be millionaires some day. If they are, it will be due to their hard work and care with finances, but also in no small part due to inheritances they are likely to receive from their “Greatest Generation” grandparents and myself.
They can move to Valenzuela and become a Millionaire overnight!
I haven’t heard anyone say that in a long time....almost every gen xer in the private sector I know (I am one) works their ass off and is at least moderately successful if not very financially well off.
I'm sure Fernando Valenzuela is a millionaire. But he might not take too kindly to people moving into his house.
Well the millennial niece of mine apparently can’t “Handle” work and quit school because she can’t “handle” that either.
Apparently the only thing that she can “Handle” is partying with her loser friends 6 nights a week.
Yet she too believes all will be well..
Financially independent at 25? Probably not.
Financially self-sufficient at 25? I would hope so.
-PJ
They must have rich parents to leave them fat or they all plan to become bank robbers. Safe bet they won’t be earning it since many still live with their parents and are too damned lazy and arrogant to start a working career at the bottom
Yeah!
Working 4 hours a day and then complaining about life is going to produce millionaires.
I predict Millennials will have the highest suicide rate of any generation that ever will exist.
I’m familiar with those stats, I just don’t believe 50+% of millennials are saving 450 - 650 per month.
*** “I’m sure Fernando Valenzuela is a millionaire. But he might not take too kindly to people moving into his house “ ***
Dang it... ya got me!
>Given enough inflation we’ll all be millionaires.<
I was going to say the same thing. A longshoreman buddy mine told me that the median price for a single family home in Seattle is $750,000. I don’t know if this is accurate or not.
If it isn’t accurate now it soon will be.
Yeah, and a loaf of bread will be seventeen bucks.
A lot of them expect the government to give it to them.
They probably will be with inflation. Unfortunately, real value purchasing will be the same as lower middle class of today, assuming they continue to vote for communists.
JoMa
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