Two thirds of Millennials have nothing saved for retirement

[Citi Trends]

i have $7 in my account

and no, not in a savings account

 

[Towlie]

Don't have a whole lot, but started a 403b last year and a pension coming if I do 25 more years

 

[Crude Abolitionist]

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.

Start investing

 

[intruder]

I thought Millennials all had $100,000 saved up though

I have a homeboy who's 36, making $100K, has ZERO savings according to his girlfriend and he himself has told me does not have a 401K or roth IRA
I figured he knows something i dont . More power to him if he does

 

[kovi]

I said this before but my parents' saving grace is their foreign properties. Only thing I'm worried about is inadequate healthcare.

Regardless, I'm not getting myself in a hole for them aside from housing and caring for them to the best of my ability. No nursing home, heavy hospital bils, etc. I love them but they didn't plan adequately enough so that's on them.

On the bright side, my brother will be a doctor so I have extra help if I have to look out. I can only handle so much.

 

[beejus]

I'm 30 and I have about $30k in my 401k. Been putting in 4% for the past 8 years or so. When I look at how much I spend on BS, I wish I was doing like 10%. I really wanna cash that out to start a business

Do you manage your own 401K or do you just put money into a target retirement date that is setup for you?

I'm a little older (almost 35) and I used to just go with the target retirement date and my earnings were real slow. A couple years ago I started picking what I wanted my 401K invested in and my earnings have jumped. Back on 11/29/16 I had 55K. Just looked at my 401K today and it's 74K. Gone up 20K in a year and a few months. Also does your company match your contributions? If you can slowly add 1 or 2 % more of your paycheck to your 401K. It's not much, but you don't notice the loss in your paycheck and it helps your 401K grow.



All the 401K brehs. Are you doing regular 401K or Roth?

 

[Apollo Creed]

The country probably wont even be around when most of us are “retirement” age

 

[I Really Mean It]

Article is very misleading. Assuming most of these millennials are white, a good percentage of them will be willed money and assets from their parents, something most black millennials don't enjoy.

 

[beejus]

Article is very misleading. Assuming most of these millennials are white, a good percentage of them will be willed money and assets from their parents, something most black millennials don't enjoy.

Hardly. You know how many poor uneducated white people there are in this country that live below the poverty line.

 

[TLR Is Mental Poison]

You dont have to live an extravagant lifestyle to spend money on bullshyt. For example, I cook my own lunch every week. Once a week I go out. So I spend maybe $20 a week on lunch. A lot of people spend 2, maybe 3x that. That's $1000-2000 a year right there. Going out drinking every weekend is another huge waste of money... I know a lot of millenials who do that. High end phone... more $$$. Obviously not everyone does this but there are definitely some "low end" ways to waste money

 

[RennisDeynolds]

World war 3 bought to pop off not to mention another recession possibly, and they publishing another "shyt on millenials" article.

How about a daily "baby boomers fukked the world up another way"


Companies damn near demanding your life for shyt pay and sitting back like " What's going on out there? You mean people don't like being treated like shyt ?"


Let's shyt on millenials but go out of business by not being able to keep up with them


More on topic, everyone needs to try and save more by cutting back. But sometimes it really feels like you'll die having done nothing fun in life but work and save . Sometimes being responsible is for the birds

 

[I Really Mean It]

Hardly. You know how many poor uneducated white people there are in this country that live below the poverty line.

Pretty sure they're not factoring in the perpetually poor in this study. They're talking about college-educated millennials.

 

[OnlyInCalifornia]

Hard to save when a lot don't have jobs that let them even pay off their school loans.

 

[mamba]

I’m thankful in that I’ve never been a materialistic person.

Too many of us spend money on bullshyt.

I’m sitting on enough savings and investments to just drop out of the job market for several years if I wanted to. And I’m not even close to 40. Haven’t even crossed 35.

 

[Sly Cooper]

my dad started my savings account when I was 16 with my first job and I have to put something in there every month

fast forward 5 years, it's looking real nice
but he keeps an eye on it so I can't touch it or it's my head