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/biz/ - Business & Finance

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15833266 No.15833266[DELETED]  [Reply] [Original]

Why aren’t millennials optimistic about retirement?

>> No.15833348

>>15833266
>Schools don't provide financial education. >Saddled with debt
>Got wrecked by 2008 recession
>Will get more wrecked by upcoming recession.
>Never had globalization, automation, corporate greed at all time high.
I wonder why brainlet.

>> No.15833382

Can only be lied to so many times before you start to get skeptical about promises made to you by the same cabal of greedy old fuckers.

>> No.15833406

>>15833266
Because retirement is not an option. Between debt and the lifetime of wage slaving needed to pass on wealth to future generations we'll be working until the day we die.

>> No.15833447

>>15833266
Most of us live paycheck to paycheck and are barely keeping up with basic needs and necessities. When you are on the brink of survival you tend not to think 40-years down the road. I make decent money, but live in a popular metro area that eats up over half of what I make just in rent and living expenses. I know people who make 100k that are in the same boat; if you're making six figures and still doubtful of ever being able to retire you know the system is completely fucked.

>> No.15834099

>>15833447
Based and millennialpilled.
I've got the exact same problem, not being able to invest in real value due to monthly expenses eating away all my profits.

>> No.15834124

>>15833447
>>15834099
>>15833406
stop being poor I make 45k a year and am 26 and have 40k in my 401k and 70k in crypto

i didn't go to college, have had my own place since 18 and the only thing I ever got was a piece of shit $400 dollar ford explorer (which I paid for using my HS graduation money) that i was scared was going to breakdown every time I drove it. I didn't even have a cell phone at that time

>> No.15834214

>>15834124
>stop being poor
>I make 45k a year

Mate...

>> No.15834238

>>15834124
hahaha bra, tell me where you live and how the fuck you managed to put that kind of money into investing. You are either getting money from mommy and daddy or you are larping hard. Don't confuse other people's success for yours.

>> No.15834256

>>15834238
i live in ohio
>>15834214
still have a higher NW than you eurofaggot

>> No.15834272

because ill be forcefed cricket cheezeits in the retirement home

>> No.15834282

>>15834256
I'm not buying it. Nothing about it adds up unless you are getting outside support. Keep lying to us all you want, you know you're full of shit.

>> No.15834301

>>15834282
ok retard
>get job at factory
>make 13hr
>now making 21/hr
>don't drink or do drugs
>have 401k automatically enrolled from start
>it increases every year
>wow 5k year + bull market gains these numbers don't add up

but its ok you can make fun of me for not having a degree and call me a brainlet

>> No.15834349

>>15834301
Lmao no wonder you’re so stupid. Poor and uneducated.

>> No.15834364

This constant stream of Doomsday news day in day out is disgusting desu

>> No.15834373

>>15834282
The guy you're replying to is pretty average for anyone that's making ~50k/year and living well within their means. You're bad at math.

>> No.15834391

Well if baby boomers can't retire and a lot of them have pensions plus a 401k then how the hell can millennials?

>> No.15834405

Millennials are stupid. Pretty much all the ones complaining about how bad they have it are blowing thousands of dollars a year on useless shit like Netflix, Amazon Prime, drinking, eating at restaurants, vacations, etc. They deserve no sympathy.

>> No.15834416

>>15834301
Don’t forget to add that you still live at home, which is commendable, but don’t act like you’re able to save/invest so much because you don’t drink/drugs

>> No.15834418

>>15834391
>pensions
Seriously, what a fucking cheat. What the fuck. A guaranteed paycheck when you're not working, zero savings or forethought required.

Fucking leeches.

>> No.15834432

>>15834282
meh, im 24 and managed to save about 40k in a year and a half of working and being a herimit on a 55k salary. Lost most of it on dude weed stocks and crypto but saving up a few months of pay really isn't that hard if you just live frugal as fuck.

>> No.15834439

>>15834416
I said I've had my own apartment since 18 you retard

my rent for my first apt was $659/month. ONE year I had a roommate and that same year I went full retard and bought a newer vehicle when my civic was paid off

>> No.15834441

>>15834405
Based. Think about all the fat chicks, basedboys and whatever else, they're the ones that are whining about this shit. Yeah it's hard but I don't feel bad that they're starving.

>> No.15834443

>>15834432
>but saving up a few months of pay really isn't that hard if you just live with your parents
Ftfy

>> No.15834505

>>15834443
>3.8k after tax monthy income
>$500 rent shared with 3 other guys
>$150 month gas
>$500 month food
>$500 booze drugs and cigarettes
>$200 into RRSP matching program

wow I can invest 2k a month without even thinking about it, is this magic or something?

>> No.15834558

>>15834443
>>15834505

I'm even worse m8.
>3.4k/month after tax and 401k
>508 mortgage
>153 hoa
>20 Gas. Don't drive much, live close to work/city. Work compensates me to drive anywhere else
>$400 food - over estimate
>$40 electric
>$80 internet/phone
> 80 insurance
> 200 for the hell of it
(car is paid off)

saving 1,919/ month. 23k/year

magic

>> No.15834568
File: 100 KB, 2000x1200, boomerplz.png [View same] [iqdb] [saucenao] [google]
15834568

>> No.15834580

>>15834124
>45k a year
Not bad. You can definitely make do with that salary and a good investment strategy.

>40k in 401(k)
Mostly tied to the stock market and/or your specific employer's performance. Also, that match.
You had put in about 20k maybe. Do you think that this makes you rich?

>70k in crypto
So, you plan to stay poor. Good to know.

>> No.15834654

>>15834405
Netflix, Amazon Prime, ect. are similar to cable or direct TV back in your day pops. Actually cheaper now.

>Drinking, Eating at restaurants
These are probably the oldest things to do in the world. You're pretending like people didn't do this before your time and that people won't do it after.
It's just becoming unsustainably expensive as wages have been stagnant.

>vacations
I don't know too many millennials doing this.
You're acting like a $300 trip to Mexico or something like that once per year is breaking the bank.

Meanwhile, while it's not the babyboomers' fault.
>Degree creep and requirement creep
You can't get the same inflation adjusted wage with no degree that you got back in the 70's gramps.

When you sent all of our factories to China, you killed all class mobility in America.

>> No.15834663
File: 91 KB, 405x205, cope.jpg [View same] [iqdb] [saucenao] [google]
15834663

>>15834580
>put in 10k into crypto
>it's now 70k

nolinker cope: the post

>> No.15834666

>>15834654
Boomers didn't do any of those things until they had their finances in order. Millennials these days do not care.

>> No.15834669

>>15833348
Have sex incel