https://finance.yahoo.com/news/gen-z-is-doing-extraordinarily-well-saving-for-retirement-study-finds-131437228.html
Baby boomers had $162,000 in retirement savings, the survey found, while Gen X had $87,000 and millennials had $50,000.
"And as we look across generations and as a researcher, it's so exciting for me to see that younger generations, millennials and Gen Z, are starting at a much earlier age than their older counterparts," she added. "That is something they are doing absolutely right."
I have $0 in any kind of savings. Who are these people with $50,000 in a bank account somewhere?
I'd like to meet my millennial peers who're millionaires they often write about.
They spent their entire life savings for a down payment and are living paycheck to paycheck to afford their mortgage
The house is worth over a million dollars
Boom, millionaire
Ehh, if they still owe a lot on their mortgage then that would bring their net worth below $1mil
I know a guy who might be close. His dad has a company that makes a ton of money and he keeps buying buildings for his kids who are also on the company payroll and own a percentage of the business.
I spend almost no money on entertainment etc and have a job that pays around $50k with good health insurance (I have some medication I'm on long-term that costs me like $40/mo but otherwise I basically pay nothing). I lived with my parents for the first 10 years of that job, and saved up around $150k.
Since moving out that number has become completely stagnant. Of course, the kicker is that I still can't afford to buy housing of any kind within a 1hr drive from my work, and it's not even close to enough for retirement.
I have a few friends that make 6 figures and between them and their spouse clear probably 250k a year that likely have significant savings, everyone else is broke.
Workers between 18 and 25 already had $33,000 socked away in their retirement accounts
Oh I see we're gaslighting now.
Last time I checked I had like $500 but it would be really cool if it was 33k
checks
nope still broke
A whole $500? I have a relief valve that whenever I get close to that a big old alarm bell sounds and the financial vultures decend and pick the bones of my savings.
Wtf are they talking about, 200,000 in savings is nothing for actually retiring . You will still have to work part time through your 'retirement', at least to get even semi-decent health insurance.
Record profits? :stonks-down:
CNBC - markets have never been better!
Oh, I see boomers are still doing the "LALALALALALA NOT LISTENING NOT LISTENING!" thing they did when millennials tried to tell them that poor people are not a myth.
So they have 50-80k savings, but also majority living paycheck to paycheck or needing multiple jobs just to afford rent. Something isn't squaring up here. Did they take their sample from kids of Beverly Hills?
Literally who. Is this techbros and rich kids dragging the average up? I don't have the energy to dig into the survey but this just doesn't seem possible.
Anecdotally me and my two siblings (running the gamut from early to late 20s) have little to no savings—my sister has some 401k matching but she's paycheck to paycheck otherwise, my brothers unemployed, and I'm only somewhat stable due to living and sharing expenses with my mom. Where are these zoomer mfs socking away $33k and how do I find them??
Failchildren can pass most of their expenses off to their parents even while they work full time. Idk where they could be found tho
Mmmm yes. And then there's me trying to save up enough money to be able to afford teeth
New generational warfare just dropped. Fuck Gen z and the boomers alike!
