Two thirds of Millennials have nothing saved for retirement
- Thread starter Reece
- Start date
If 12K is the measuring stick I'm above that
We gotta get way above that though
Our generation ain’t gonna have no social programs to fall back on #HYON status for real
Illified infinitely
Banned
Probably gonna need a few milli if I retire at 65. A few hundred bucks a month ain’t gonna get me there. Had 60 k liquid at one point cuz I sold an asset. But then rent payments daycare just living. Can’t save for shyt making 50k a year 
. Even if I could. It ain’t shyt 
. Even if I could. It ain’t shyt 
Not much game to give other than start a 401k/IRA and make contributions to it consistently. If you work for a company, that’s free money right there because they match your contributions.
And the having to take care of grown kids, medical bills wiping years of savings out, etc.
2 thirds of millennial will also be working til they're in their mid 80s at this rate. this isn't really news if you been paying attention.
most people don't have enough money in the bank for a 3000 dollar emergency.
most people don't have enough money in the bank for a 3000 dollar emergency.
YamakaSmacker
Banned
No gems, just game. Savings accounts are scams but necessary to hold a years worth of expenses in liquid, easily accessible form. Diversify investments between index and actively managed mutual funds. Activeky contribute to them. Start a Roth IRA in your 20s(max it out) as a tax haven. Opt out of investing time in a relationship and build yourself instead. Own a piece of real estate under your name only. Buy a reliable car cash. Reduce monthly expenses(car note, phone note etc.)as much as possible.
Im not an extraordinary guy by any means which makes me wonder why so many fail to see this.
But first you need income
My route was finding a trade(by far the smartest option for most people but most think they're too good
, probably just weak
)I've invested a good amount into individual stocks through my brokerage account as well as made some decent money off coin (got in August of last year
)Also real estate. Doesn't matter how shytty, just location and purchase price. Grab up quick flips or investment properties to hold for a buyout or rental.
Extra payments on the principle of your house will allow you to pay it off in 15 years. Early retirement is much easier with a paid off house
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I just started investing in ETFs too. I ended up investing in Vanguard's ETF. I just had money lying around in my TFSA/RRSP (I think it's the equivalent to the 401k/IRA thing that you guys have in the States) and did nothing with it, it's better to invest than to just have your money just sitting there doing nothing.
Tribal Outkast
Veteran
Can you guys imagine how life would be if student loans didn’t exist? That’s the shyt that’s crippling us right now smh. People going to any and every school thinking they’re going to be good just because they have a degree no matter what. How are you supposed to live if you’re the unfortunate one that has to work a 20 to 25,000 a year job and you have to pay the essential bills and your ridiculous student loans from the university of Phoenix and shyt. It’s hard to save when you have to pay all your money to all these stupid ass companies... I’m going to do a saving project and I suggest you guys try it too.. I’m paying off my car by next year and my plan is to continue paying my same car note for the next 5 years but I’m paying it to MYSELF. You can save a nice chunk of change if you do that.
philmonroe
Superstar
Bold = Speak for yourself and your family nikka.
you dumb fukk. just because your suburban ass family has, majority of blacks hasn't. that's facts
philmonroe
Superstar
How am I dumb fakkit because I get tired of folks with this all blacks are insert negative shyt? Foh clown
Captain Crunch
Veteran
I don’t make any dough, but my living expenses are low and I have no debt. 
My savings great, but I need to start flipping that bread.
My savings great, but I need to start flipping that bread.