| irstupid said: Let millennials do whatever they want. I read an article the other day saying that 1 in 6 millennials have 100,000 in savings right now. *I call complete bullshit on that, fyi. But it's not just Avacado's or expensive coffee. Where I work, I'm pretty sure I'm the only one that eats in every single day. Most people go out to eat for lunch. They are spending like $8-10 easy every day buying lunch. If you make your lunch you will save a lot. Then take going to bars on weekends, or going out to eat at night a lot or ordering pizza delivery, smoking, marijuana, beer, microtransactions, ect. It's a culmination of a lot of things, not just avacado's or expensive cofees that can save people thousands. |
Eh, it depends on when the cut-off point for millennials is. The "millennial" generation is typically considered to start somewhere in the span of 1977-1983, and ends some time between 1993-1996. If you take the earliest years for both, you have millennials in their 40s now, while the youngest are 25. I could see 1 in 6 in that age range having 100,000 in savings.
Teeqoz said:
Eh, it depends on when the cut-off point for millennials is. The "millennial" generation is typically considered to start somewhere in the span of 1977-1983, and ends some time between 1993-1996. If you take the earliest years for both, you have millennials in their 40s now, while the youngest are 25. I could see 1 in 6 in that age range having 100,000 in savings. |
the survey said like ages 22-37 or something. 37 was the high end. Not sure what low end was.
But go and think of the first dozen people you can think of between those ages. Do you believe that at least two of them have 100k sitting in savings? 100k is a lot of money.
Teeqoz said:
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.
What the fucking fuck fuckshit hell is avocado toast? Why does it exist?
| Farsala said: Avocado isn't pricey? Maybe I am lucky here but its sometimes 69 cents and often 2 for $2. Edit: and buying bottled water like wow the biggest waste of money |
Seriously. Only time I get bottled water anymore is for gatherings or parties. $5 for a 24 pack of 16 ounce bottles isn’t too bad.
otherwise, why would anyone pick a plastic bottle over a reusable one? Literally no benefits
| SegataSanshiro said: What the fucking fuck fuckshit hell is avocado toast? Why does it exist? |
Yeah avocados with bread doesn’t exactly sound appetizing.
| irstupid said: Let millennials do whatever they want. I read an article the other day saying that 1 in 6 millennials have 100,000 in savings right now. *I call complete bullshit on that, fyi. But it's not just Avacado's or expensive coffee. Where I work, I'm pretty sure I'm the only one that eats in every single day. Most people go out to eat for lunch. They are spending like $8-10 easy every day buying lunch. If you make your lunch you will save a lot. Then take going to bars on weekends, or going out to eat at night a lot or ordering pizza delivery, smoking, marijuana, beer, microtransactions, ect. It's a culmination of a lot of things, not just avacado's or expensive cofees that can save people thousands. |
"Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey."
https://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06
Can have 1 in 6 with plenty of money, on the flip side the other 5 of 6 could be struggling to make ends meet.
Nymeria said:
"Approximately 62% of Americans have less than $1,000 in their savings accounts and 21% don’t even have a savings account, according to a new survey of more than 5,000 adults conducted this month by Google Consumer Survey." https://www.marketwatch.com/story/most-americans-have-less-than-1000-in-savings-2015-10-06
Can have 1 in 6 with plenty of money, on the flip side the other 5 of 6 could be struggling to make ends meet. |
It’s interesting that the results are very similar regardless of age.
| mysteryman said: Mr Gurner began his career as a property investor after purchasing a gym in Melbourne’s south in 2001 with the help of $34,000 borrowed from his grandfather. This is the same guy who started with a $34K interest-free loan in a 2001 Melbourne housing market. I assume he was also living with family rent and utility-free. Given the same circumstances, there’s not a person I know that couldn’t get into the housing market. He’s so out of touch with reality that his comments are a sick joke.
|
well it's a good tip really, if you want to buy a house, just stop eating avacados .... and ask your grandad for 34,000. It's simple really.
Why not check me out on youtube and help me on the way to 2k subs over at www.youtube.com/stormcloudlive
mysteryman said:
It’s interesting that the results are very similar regardless of age. |
Some people are happy to not save, I've 2 mates who are perfectly happy to get their wages each week and spend them all before the next pack arrives, I would feel unwell if I didn't have at least the next few months / years rent in the bank. That was how I started off saving, just each month I would put away the following months rent asap, then I started to make a game of it, see if I could get the next months rent again before it would even start.... currently where I'm living I have.... 61 months rent saved up! It's a fun game :D
It's rather nice knowing I could lose my job(s) and just sit on the couch for 5 years wondering what to do next.
Why not check me out on youtube and help me on the way to 2k subs over at www.youtube.com/stormcloudlive
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