Millionaire to Millennials: Stop Buying Avocado Toast If You Want to Buy a Home

[Nymeria]

Teeqoz said:

Ka-pi96 said:

That's nice and all... but where you can find a 3% interest rate that you could actually do that with? My bank offers around 0.5% on most of their regular savings accounts. So 3% over 45 years.... where would one find that?

Eh, and S&P 500 index fund will easily average over 3% annually over the course of 45 years...

Exactly. Start investing as much as possible in funds and an IRA when you're young (18-35) and the money will grow so much more than if you wait (35+).  We're talking hundreds of thousands of dollars difference.

I have no issue with frugal living, but the notion that eating fancy food is the primary issue is not what I see.  I see stagnate wages with millennials earning less than boomers or Gen X did at same time while taking on massive debt generally from education.  Most people I know in their 20s and 30s eat out less and cook more than their parents.