The only participation trophy in retirement is a Social Security check, folks — and it ain’t going to pay for very much by the time you retire.
I loaded up my 401k only to find I will get a pension. I could have spent that money on booze and broads but NOOOOO....
Millennials: victims of liberal thinking. They live in a faux world -— this is another good example.
That's because robots will be taking their jobs.
HA!!! Retirement? Yea right.
They will toil until the moment of their deaths because of Democrats.
If millenials keep voting progressive, there will be no country to retire to.
And, I’ll not give, donate, 1/10 of a penny in any, sort of way, to support them.
Retire?
Haven’t many of them already done so?
Well, the first requirement of retiring early is to be generating an income.
Millennials will collect social security? Hahhahahahahaaa!!! Lols.
Hard for anyone to retire with such low interest rates.
The key to retiring early is to develop streams of passive income while also reducing expenditures. For most people this means investing in real estate, for both a primary residence and rental income.
Millenials who are not active in the real estate market today will find it much more difficult to retire early in the future.
2/3 of young men over 30 still have no clue what it costs to live on your own.
And the old backup plan of women moving in with a guy with money is gone.
Both are going to starve to death without mom and dad.
I followed Dave Ramsey’s advice and I’m 56, debt free and retired! However, I started working at 15 and was self-supporting at 17. I never looked back. (I had a loving family; I wasn’t trying to ‘escape’ anything.)
It can be done - you just have to plan the work and work the plan, though I realize that concept is lost on many younger than myself. ;)
Here is the plan:
Step 1: Find a job you don’t hate. Better yet, find a job you like. Find something you don’t mind doing everyday.
Step 2: Do that job as long as you can, or you die, whichever comes first.
If I can still do my job when I am 75, I will still be doing my job.
My lifestyle as an employed person is pretty darn good. My job doesn’t suck. I like the people I work with. I have everything I want, plenty of money, and I can travel, buy fun stuff, and provide for everybody who depends on me. Why would I stop doing that?
To retire early, one must have a job to retire from. You cannot get Social Security until 62 at the earliest. And with the debt SS is causing with be Boomers, retirement will probably be moved up higher in the years to come. Another great Dimocrat move with LBJ I think it was who put the SS funds into the general fund. No longer protected, to help pay for Vietnam and his Great Society mess.
Retire early? HA!
They will be lucky to have a job, and will not be allowed to collect SSA until age 70, I predict. They will be hard pressed to be able to afford to retire by that time. Unless they have already started saving and investing, and they manage to stay healthy, they will be looking at a substantial reduction in standard of living when they stop working
(I started saving and investing young, but my health failed, and some of my investment choices turned out poorly. So I am living on the edge of poverty: “land poor” we use to call it.)
I don’t WANT to retire early! I love my job and hope to keep at it until I’m way past “retirement” age!
Step one - cut the social media cord
Step two - stop breaking your parents with college tuition and running up an unpayable loan
Step three - learn a skill
Step four - get a real job
Step five - move out of mommy’s basement