The REAL reason why people are broke and don’t have any savings for an emergency

BrothaZay

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Bingo. By the time Gen Z gets to retirement age, there’s an extremely good chance that there won’t be Social Security, AND the minimum amount to retire safely will be at minimum $5-6 Million or more. Plus, the climate will be even more extreme than it is now, making the world unlivable in certain areas of the world. For Gen Z, they’re probably thinking what’s the point? There might not be much of anything left in 40-50 years.

That’s why they’re so pissed at Boomers, and why Climate Change is the number one issue for Gen Z. The Boomer generation has done NOTHING to come up with solutions to climate change, housing or wages. Political involvement with young people has surged in the past 10 years. Young people are angry, and they’re starting to realize that they might have to take matters into their own hands to save this country.
I have an idea. Let’s blow all our money having fun and don’t save any of it. That’ll really show boomers :blessed:
 

Tribal Outkast

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I’m thankful that o make enough now to have more than one place to put money. I was not in the position to ball out on vacations and shyt when I was younger. People be laughing and clowning folks for not going far for vacations, but they mmm people end up looking the best. You’re spending all your money just to fly to another country to stung for the gram.. You can do that here in America for cheaper lol. Have money to put to the dude and don’t do it so big for vacations.
 
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That is partially true, but it is also true that, it’s because school is too expensive. Wages are stagnant and rent and housing is too fukking high. Also spending on experiences is way better than spending on material stuff like clothes, shoes, and expensive bags.

I say this and I have tons of savings a retirement account and I’m debt-free. I had to cut my expenses severely. I paid $700 for rent in St. Louis. Even when I had a lot of money as a doctor I still lived as if I made 50 K and I still do that today.
This.

Feel like Gen X and Boomers were into cars and clothes more while Millenials and Z will spend their free money on vacations.

Savers will save and spenders will spend. Every generation has plenty of both types. People that make more money tend to either save A LOT or they buy the nicest everything. People with less money are either really frugal looking for deals or they blow their money at tax time on a cash car and a few pairs of J's.
 
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Do both. I see a lot of self defeatist attitude. Being paid a lot / having a lot of resources is desired by a lot of people, so you’re going to have to plan, strategize and compete for that.

People think they SHOULD be paid a certain amount, that’s just an unrealistic reality. Remember when someone is actually paying you, they’re taking food out of their mouth, their wife’s mouth, and children’s mouth, to do it. They’re trying to provide the absolute best for their family, just as you are. Remember that, and you’re going to have to bully, you’re going to have to fight, you’re going to have to take resources, not ask for it nicely. I don’t know why people see a big corporation and think, just a faceless soulless entity. People are behind that. And you’re a stranger to them. Imagine you donating your extra expendable income to a faceless stranger so they can have a similar or better lifestyle. You wouldn’t, because you don’t now.
 

Wildhundreds

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You need a balance.

Why save all this money, when you can die tommorrow? And all that staying at home saving money for years you’ll look back & see all you did was “save”.

Not to mention inflation means your balance won’t even amount to much anymore.
So YOLO
:yeshrug:


I hear a lot of my old head comrades speak like this.. Some of these old dudes I know say they take care of their kids until 18 and say they on their own after that. So its not just retirement. It's even while dealing with leaving a legacy behind for their seeds as well. They say why leave their kids money when they going to blow it themselves...

So I guess YOLO. :yeshrug:
 

So-Chi

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goons in the cut tryna talk you out yo necklace
Yeah people work there whole life to save enough to be retired at 65 and too :flabbynsick: to enjoy the money. I am going the real estate route to generate income after retirement but I'm not putting 70% of my check in a hedge fund like some people suggest.
Bro.. I'm about to the the same. I'll buy a building then live in it for a year, but THEN get a house. Let my investment pay for the next mortgage:blessed:
 

Gritsngravy

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If you don't save up or make 3-4 million dollars you can't retire anyway and social security will be gone by the time the Z's reach their mid 60s. Most of these kids don't see a long term future for themselves.
I’ve been thinking maybe if I hit 60 I could maybe teach somewhere for another 20 years or so, that’s been my contingency plan, have teaching income supplement whatever I got saved up, hopefully teaching isn’t that hard to the point older people can’t teach
 

threattonature

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Nah it comes down to lack of accountability & bad money management

Ain’t got nothing to do with living life vs retirement

People in general make bad decision & make excuses after. Spending money on restaurant food that will last a day instead of buying food to last the week.

Going out & blowing money on drinks when you don’t have it to spend. If you wanna drink grab a bottle it will be cheaper. Tricking off cuz she might let you smash lol

Do better
I had friends that I made 2 and 3 times what they made if not more than that. We'd go out and they'd clown on me because I wasn't trying to trade off buying rounds of shots. Instead I'd slide in a bunch of $1 and $2 mini bottles that contained as much in one as two or three of their shots. That and I was all about pre-gaming. I'd tell them they are the broke ones, they should be living like me yet they out at the clubs blowing all kinds of money.

As far as the thread I think it's a mix of people have lost the know how of living broke. Now far too many people look at luxuries as necessities. Social media in part has made people crazy trying to keep up with other's lifestyle. Combine that with just how expensive it is to live out here and that's a dangerous ass combination.
 
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