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Re: YOUNGER GENERATIONS HAVE IT TOUGHER

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Message 31 of 36

@NOTHAPPENING wrote:

@rker321 wrote:

157,00 millernials  have 1 million  or more in their 40K's ? out of a whole generation and that is considered a success?

I am just wondering their kids, how do they feel about those figures?


Anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial.  Pretty good for "kids" to have $1,000,000 in their 401-Ks, don't you think?


Isn't that the generation that could not reach what their parent's had obtained?  agan, less than 20o,ooo of that generations what % of the whole generation it represents?

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Re: YOUNGER GENERATIONS HAVE IT TOUGHER

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Message 32 of 36

@rker321 wrote:

157,00 millernials  have 1 million  or more in their 40K's ? out of a whole generation and that is considered a success?

I am just wondering their kids, how do they feel about those figures?


Anyone born between 1981 and 1996 (ages 23 to 38 in 2019) is considered a Millennial.  Pretty good for "kids" to have $1,000,000 in their 401-Ks, don't you think?

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Re: YOUNGER GENERATIONS HAVE IT TOUGHER

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Message 33 of 36

157,00 millernials  have 1 million  or more in their 40K's ? out of a whole generation and that is considered a success?

I am just wondering their kids, how do they feel about those figures?

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Re: YOUNGER GENERATIONS HAVE IT TOUGHER

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Message 34 of 36

It is so funny how the same information can be viewed / interpreted as half-empty (pessimist) or half-full (optimist) and will slant the info based on that philosophy. 

 

The TD AmeriTrade survey done in 2018 has more info on this same subject -

The brokerage firm sponsored a survey earlier this year that asked roughly 1,500 American millennials at what age, if any, they thought they would officially earn that label. 53% of respondents said they believed they’d become millionaires in their lifetimes, with about 7% predicting it would happen by the time they turned 30, 19% by age 40 and 16% by age 50.

 

7% of people said they’d be millionaires by 60 or later. A small part of the group, about 4%, said they were already millionaires.    (MY MATH:  based on the number surveyed of 1500 and this % - that means that 60 of these millennials were already millionaires).

 

That may sound optimistic, but it makes sense to TD’s chief market strategist, JJ Kinahan. Kinahan tells MONEY that the results can be attributed to “youthful exuberance” and the plethora of success stories coming out of Silicon Valley, where employees often receive stock options as part of their compensation packages.

 

Ever watch "SHARK TANK" and those who got a deal and come back with their success stories -

 

But the results diverge when the data is broken down by gender. Whereas over 70% of male millennials said they expect to become millionaires or already are, just 38% of females said the same. 

 

Gender Inequality or just because they may have other priorities or perhaps females are not quite as optimistic ?

 

. . . . Being a millionaire is nothing to sneeze at, but it’s not as rare as you might think. MONEY reported last year that one in every 20 Americans is a millionaire. Just last month, Fidelity revealed that about 157,000 people had more than $1 million in their 401(k), with most of them having saved for about three decades.

 

Course then they go into how to do it - Save, invest, take advantage of money making money for you -

http://money.com/money/5308043/millennials-millionaires-new-research/

* * * * It's Always Something . . . Roseanne Roseannadanna
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Message 35 of 36

Company Pensions , Matching 401k's and Healthcare have all but disappeared for today's young workers.

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