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Majority Of Millennials Have Under $1,000 In Savings
Millennials are projected to number 75.3 million for 2015, surpassing a projected 74.9 million for Baby Boomers. The Millennials will therefore comprise a greater percentage of the population than Baby Boomers for the first time. To gain insight into the saving habits of Millennials, we recently performed a survey of those from the ages of 18 to 34. We received 2,585 responses to our survey. The results of our survey found that over 50% of Millennials have less than $1,000 in savings. This would indicate that most millennials do not have a cushion to fall back on in case of an emergency. The rest of our findings can be analyzed with the visualizations below:
For those surveyed, we found that:
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51.8% of Millennials have less than $1,000 in savings.
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18% of Millennials have savings of $1,000 to $5,000.
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7.3% of Millennials have savings of $5,000 to $10,000.
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6.4% of Millennials have savings of $10,000 to $20,000.
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16.5% of Millennials have savings of more than $20,000.
Millennials Savings by Income Group
Breaking it down by the income of the survey participant, we unsurprisingly found that the level of income appeared to have a correlation with the amount of savings. We found that:
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56.3% of Millennials earning $25,000 to $49,000 had less than $1,000 in savings. This compared with 31.2% of those earning $75,000 to $99,999.
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Among those earning $100,000 to $149,000, 14.8% had savings of $5,000 to $10,000
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14.3% of those with savings of $10,000 to $20,000 were those Millennials with incomes in excess of $150,000, the highest percentage in that range of savings.
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Around 50% of those with incomes in excess of $150,000 had savings of more than $20,000.
Millennials Savings by Gender Group
We also found differences in the amount of savings between male and female respondents:
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56.7% of females have less than $1,000 in savings as compared to 46.5% for males.
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On the upper end of the savings scale, 21.5% of males have more than $20,000 saved versus only 11.9% for females.
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For savings in the range of $1,000 to $20,000, the percentages between male and females respondents were roughly the same.
Millennials Savings by Age Group
For a breakdown of savings by age groups we found:
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57.6% of respondents from the ages of 18 to 24 have less than $1,000 in savings. This compared to 47.1% of those from the ages of 25 to 34.
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For savings of $1,000 to $5,000, 19.6% of respondents from 18 to 24 had savings in this range, compared to 16.6% of those from 25 to 34.
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On the upper end of the scale, 11.7% of those from 18 to 24 had savings in excess of $20,000, compared with 20.5% of those from 25 to 34.
Surprisingly, it appears that Millennials may be saving more money than other those in other age groups. Still, their financial behavior remains a mystery even to Janet Yellen, the head of the Federal Reserve. Since Millennials are growing as a percentage of the population, their savings and spending habits will increasingly have a major impact on the overall economy.
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As long as you have > 1 BTC
sounds about right... or their parents..
What Happens When The Boomer’s Cash Out? (JNS)I would venture to bet that the rest of those "millenials" don't even know what the word "savings" means. (Their Boomer and Xer parents are equally oblivious.)
Savings are stored in non-volatile memory.
AKA your imagination.
For all of their lives, the Government (and especially Fed) have been there to deficit spend or QE the country's problems away. That world-currency-based-fantasy is about to come crashing down. I hope the Millennials have the fortitude to weather the coming revolution.
How in the fuck do you figure that? We don't own homes or stocks, so please explain to me how it is that the Feds policies have been all about keeping my generation cushy? Miss me with that shit...
I am a transplant to this arcadia like utopia, where I live. I have a neighbor on one of my other properties. He has his art studio across the road. He's literally a fucking genius; Davinci reincarnate I tell ya. We have some really great deep conversations. One of the conversations was about another common neighbor who is a bit shady. Davinci said to me, "I never have a problem with 'rob' because I think he always finds me way too useful to fuck me over". That's wealth my friend. In its truest form.
Wealth was originally excess food after humans discovered farming. Wealth is not FRNs... Gold, or any of that bullshit. Wealth is being useful and valuable to others. Can have all the fucking gold or money you want? If you're not useful to me, I'll just kill you and take it.
"lighten up Francis..."
- Sgt. Hulka -
So half of 25-34 year olds have less than $1,000?
WTF?
I bet the chinese brand of this cohort has more $ for $ savings.
well... what does 1000usd even mean? Myself i got 0 usd. maybe 25k of stocks, 250k realestate, 5k local cash and 10k student debt.... where do i belong,? -5k or +270k? kinda big gap inbetween...
"Savings" became obsolete in 1971 when Nixon took the US off the gold standard.
A savings account yields less than 1% in interest, meanwhile credit cards offer 5% cashback.
I'm surprised 48% of Millennial kids actually even bother with savings.
I am a Millennial. I measure my savings in ounces.
The ironic thing is Millenials mostly voted for the Dem(s) who help turn them into Broke Donkeys.
Still stuck in the matrix....were young Bush supporters any more prescient? At this point, if you're still voting for anyone with an (R) or (D) next to their name then you don't fucking get it and you actually deserve all the war,tax, and oppression you get
Perhaps something more along the lines that a Prog D will eff you over faster than a Prog R would have stated the point better, because I think the numbers do show most younger voters do pull the lever for the Prog D's. I understand your anger, I think you just have to work on your aim.
Lemme get this straight. Your idea of wealth is to be useful and valueable to others, yet if others are not useful to you, you plan to kill them and take all of their fake wealth which you claim to despise. Grow the fuck up........
No dude. I happen to be useful to others. I grow food. Make things. Know how to do things. Therefore I have wealth. If you isolate yourself, hord metal and think you are rich? You're not only not useful, you're not wealthy. THAT IS the disconnect with half you fuckers. You thin because you have a bunch of shiny metal you will mean a shit to anyone when all these young folks with less than a thousand dollars have not even food.
Three things; I repeated your own words. You do not decide who is/is not useful. You will always be poor because you want something for nothing.......
Just about every conquest, migration and war in human history has been about resources. so, YES... if YOU have things that others need to survive? They will try to kill you and take it from you. What polly annish planet are you from?
Can you eat gold? Can you warm yourself with gold? Can gold shoe your horse or tan your hides? Is gold only good because others have CONFIDENCE that it is so valuable that it will bring them the things they need? Gold is fiat as well. It doesn't actually have intrinsic value. It's a fucking bit of metal that stays shiny. Nothing more.
"Sociopaths seek to dominate others and "win" at all costs. They hate to lose any argument or fight and will viciously defend their web of lies, even to the point of logical absurdity."
But matermaker's right. If you just have shiny stuff, no way to make more, and you're an asshole...then you're in the same position as Marie Antoinette. Off with your head!
You keep oil Barons around not because you like them, but because they can get you MOAR OIL, and you pay them with gold/fiat for the convenience of not having to get it yourself.
A sociopath that understands that isn't a sociopath. He's just ruthless. There's a big difference.
That is the thing that I've thought about too...gold means nothing to me...if it were "end times" where it's about survival, the last thing I'd want is some gold Swiss Franc...give me something I can use...
Gold is just another medium of exchange, it's just been around a long time.
HI matermaker !
Vote up! 2
Vote down! 0
"...........Can you eat gold? Can you warm yourself with gold? Can gold shoe your horse or tan your hides? ............"
*****************************************************************
I agree with you 100% on your concept of *value*. Logged -In just to say that and upvote you. Middle-of-the nite here......old man piss-stop. Cheers X
Sooo, ummm, these hoe & plow non-shiny metal thingies you're "hoarding" to use in growing YOUR OWN FOOD...you sittin around thinkin someone might like to "hoard" those metal things for themselves?
Run that by your neighbor "Davinci" and see what he says...lol.
Yes... the premise is simple. It's called an agrarian culture. Rome was very agrarian and powerful before the lazy bastards formed the cities.
It's called LABOR. Say you have an army... big bad ass army running around conquering everyone. Can't run that without food, can you? Therefore, the lowest common denominator of what gives you the power is some schmuck groing food. It sure as shit isn't gold.
And let us assume that... through out history... you treat that lowly laboring class poorly? what has happened throught out history?
Clearly you've been drinking too much of the Koolaid you're neighbor (Davinci) has been offering you. I come from a long line of farmers from south Georgia who were and still are warriors, so your attempt to construct some leftard-populist class distinction between these two "professions" is falling on deaf ears with me.
Your contempt for THEIR SAVED LABOR in the form of gold is as obvious as your complete & utter lack in the understanding of economics, as you will find no blacksmith willing to accept last years corn (with vermin droppings) in exchange for repairing the hoe you just broke trying to prepare the ground for planting.
Good luck with all that.
What are you talking about mnewn? Last years harvest is usually this years booze.
I've met plenty of car mechanics that will work for a pack of cold ones. Probably the best currency ever invented!
Virtual personas do not require "food". Moore's Law + AI.... your p-person days are numbered.
fiat means you command by law that a person accept your medium of exchange (i.e. money) (e.g. this note is legal tender for the settlement of all debts public and private). No one commands by law that any commodity, including gold, be accepted for trade. Because it is finite, not easily counterfeited, and a store of value, many accept it as a medium of exchange to facilitate the natural barter system of all human commerce. There's a big difference sonny. It is rare as it is only created in supernova explosions and those are very rare. Thus, by the law of supply (very limited) and demand (potentially unlimted as trust in fiat is lost) it is very valuable (not as much as rhodium or osmium, of course) And gold because of it inertness (that's why its shiny) and high electrical and thermal conductivity has no peer in electronics applications not to mention dental fillings. For a person who claims to have skills at making things you're sure a chemistry ignoramous. (Chemistry is the basis of all materials which is the basis for making everything)
and thus...... fiat is only good in times of plenty and stability. things go south, it's back to food like 10,000 bc
and i did say it was good in masspectrometers as fittings. it's still a rare thing. a novel thing. do you think the wealth of the enitre human population lives in rare and novel things? is that how you envision wealth? or treasure?
My concern is not with gold, but with the mental condition of those who feel they are entitled to TAKE from others that they may have some too......
a gift....
"Sociopaths are incapable of feeling shame, guilt or remorse. Their brains simply lack the circuitry to process such emotions. This allows them to betray people, threaten people or harm people without giving it a second thought. They pursue any action that serves their own self interest even if it seriously harms others. This is why you will find many very "successful" sociopaths in high levels of government, in any nation."
http://www.naturalnews.com/036112_sociopaths_cults_influence.html
first off.... your handle is a pyschopath from tarintino. secondly, i don't need anything you have, therefore i am not a threat. therefore i'm a good trading partner. rule one of survival with disregard to the capcity of your amigdala. "eliminate the threat". In a collapse scenario? Gold will be worthless. Resources and knowledge will be prescious. Hate to burst your bubble. I also have too much empathy as to not be greatly disturbed when i cut the throat of one of my sheep or chickens. Pretty sure I'm not an empathic sociopath.
"Gold has always played an important role in the international monetary system. Gold coins were first struck on the order of King Croesus of Lydia (an area that is now part of Turkey), around 550 BC. They circulated as currency in many countries before the introduction of paper money. Once paper money was introduced, currencies still maintained an explicit link to gold (the paper being exchangeable for gold on demand)."
please continue if u wish to argue with 5000 years of History...
and have a pleasant life.
Others have used clam shells, or bronze axe heads...gold is only valuable because people decided it was...it's not the only thing of value.
Thank you mop water. Gold has no value to man unless you need a really good flange on a masspectrometer. It IS ANOTHER EXAMPLE OF FIAT WEALTH. Can't eat it. Can't heat with it, Can't do anything but look at the shine. It is not a resource nor wealth. Merely a manufactured measure of wealth.
wealth is resoruces, productivity and the excess there of, period.
"it's not the only thing of value."
who said it was.
move along.
What is the INTRINSIC value of gold? Can you eat it? Does it make good swords? What good is it? What does it DO?
Ever try to carry $50K worth of chickens in your pocket?
The Germans could.
Funny thing though, it was only one chicken!
U R Totally Correct; Spot On!!!
+ 1 gizillion
why not a + quadzillion claim shells????
shit breaks down? the clams will certainly be worth more than gold. GOLD ONLY IS GOOD WHEN PEOPLE ARE IN POWER.
Mr. Sousa, It appears you have no concept on how 'survival' works. It just so happens that the Human Race-Homo Sapien Branch has gone thru 'bottlenecks', where less than 1000 individuals have survived.
Protein-markers in the DNA of 'Modern Man' confirm this fact.
Smarts & Skills give survival....and produce the 'next generation'. Facts are facts.
yeah ur right...
thats why im still here and in my 50's...
im actually posting from the grave...
thanks for enlightening me..
It puts the gilding on powers that don't do shit. don't make shit. don't produce shit. that's about all.
there is much anger in u...
fear leads to anger...anger leads to hate...hate leads to suffering...
the dark side awaits u...
there is no anger, lilght'n. just saying that food and resources are more valuable than a shiny piece of metal.
whatever u say Anniken...
true economics lesson that you are learning. and it probably scares you. if you are starving to death? or can't make that gold keep you warm or keep the rain off your head? POOR PEOPLE WILL DEMAND THAT YOU PAY THEM IN A DIFFERENT WAY THAN YOUR GOLDEN BITCH
yes...im truly frightened.
OR... how about this scenario? you are starving to death. you spent all your time figuring out how to gather gold. don't know shit about the most basic reality of feeding yourself? you come to me near death... your family is near death? i tell you that i will take ALL your gold for one meal. just for spite.
this must be a script for a comedy ur pitching to Bollywood or something right...?
to funny.
have a good one man...and thanks for the laughs.
DUDE... What's the disconnect with you? nobody NEEDS gold for a fucking thing? They ONLY TRADE IT FOR WHAT THEY NEED
can u type even larger in bolds...
it will make what u say even more truthier....
What are you retarded or slow? "oh this gold! It's like rare on earth... granted basically worthless to most people... If i have enough of THIS? It will be worth WAY more than FRNs."
In times of excess and plenty of true wealth, sure. true wealth being resources. but in time of scarece resources? worth about as much as federal reserve notes. at least you can wipe your ass with FRNs
"but but! i HAVE GOLD! FEED ME!" "YEAH, NO FUCK YOU. THE GOLD WAS IN THE GROUND AND IT WILL BE WHEN YOU DECOMPOSE. SILLY WHAT HORSE YOU BACKED, HUH?"
I will agree that culturally for about maybe 3k years or so... gold has been a good form of want. BUT, that was only in times of peace and lack of want. My point is that it does you zero good in social chaos.
it's merely a hedge. when the revolution is over and people are no longer starving.... you dig it out of the basement and make your children in a better place. however, it is never such an asset in times of war, chaos and strife. it never was... in all of history. i appreciate that you guys hedge with it, but it is NOT a survival tool.
I think the point you are getting at is that while Au may be chemically inert and pure etc., there is no physical constant presently known that guarantees convertability between a certain mass of Au and a given standard of living. Like most other things, its value in trade comes from the network effect in that due to history it is relatively easy to convince people that they can trade it for what they want later if they accept payment in Au now.
In other words, in times of scarce resources or panic, effective stack height may not be equal to stack height in metres. Lead, food, or tradeable skills will be necessary. It took me too long to figure this out.
And before the downvotes start, I'm not saying gold is not valuable. Maybe I am wrong, but I have started thinking of it like a fire escape. By crude analogy: One won't attract a premium when selling real estate because it has a fire escape. Nonetheless, in case of fire/emergency, you'll be glad you have a fire escape. When there is no emergency, it may be worthwhile to invest in landscaping, art, furniture etc. as well.
YES... hunger and want are never fed by greed. Greed is merely having more than your peers. Gold serves no human need, in the 'common' human form. Gold is the epcoh of greed. always has been. Gold has ONLY been mined and accumulated by societies run by politic or religion and power... never by susistance.
This is something that Has only recently dawned on me, and I am attempting to adapt to it. My degree will not feed me in a full collapse, so I am investing in productive skills as fast as I can
I've had this conversation a lot recently. Boomers see millennials as having an excess and not still not happy, spend spend spend. But I say that the same percentage of disposable income is spent today as before. "people today have 5 tvs and 2 cars. We had one TV and luck to have a old car." is a common refrain I've heard. That's because those items were so much more expensive then. A $300 TV in 1970 is like 5x $300 tvs today.
And the boomers were mostly middle class. That middle class is gone now. Most people don't save because they are poor and living had to mouth. Just because they can buy more numbers of goods due to technologically driven deflation, doesn't mean they are lazy or whatever. The rules of the game have been changed.
After Fed rate hike tomorrow and the ensuing implosions of stocks and banks in the aftermath; are the newly created bail-in laws going to be put into effect???
Jeff Nielson thinks those are the next steps on the horizon:
http://www.bullionbullscanada.com/index.php/forum/17-talk-economics/3303...
Fonestar may lack RAM, but he certainly doesn't lack BIOS.
You misspelled BS.
/grahamer Notzi
Junked by Fonestar. Thank God it's only electrons...oops.
Great, more Phucfacian Starpussy rantings...what morning wouldn't be ruined without it?
Makes me hate BitCoin with a passion, if that was its goal, congratulations, you have exceeded expectations.
What happens when the Boomers cash out?
I presume you mean housing, because cashing out of the system will soon be prohibited. In that case, imo 2400 sq ft 2 storey's will go for a song.
The 800 lb gorilla in the Bommer room is upsized housing.
Well, if the boomers have all these house than why the f*ck are Millenials trying to make it on their own in this Fed created Jungle. You want to be rich? Live off the boomers (your parents) sure beats a $1500 rent. Most of these old shleps have 4 or 5 bedroom houses. Why struggle to make ends meat? Beats a tent in the woods
I read vacant space in energy-dependent cities like Houston, Denver, Dallas, and so on is already soaring, esp commercial space since many small energy-related businesses have gone belly-up.
Exactly.
"Mom! Where's my fuckin mac and cheese! I WANT IT NOW"!
Us millennials are going to have fun fucking you baby boomers over, pay backs a bitch hippies.
Does an iPhone count as savings?
How bout 200k in student loans?
High risk of catching financial virus when entering the Student AIDS Office.
another good one...
I have a cousin in the millennial age range. She has run up over 100k in college loans for advanced degress in 'why us women hate men but like our labias'. I suggested to her to get a degree in something usefull and to cut out the debt. Her response was she will run up as much debt as it takes to live her dreams and travel the world. I tried to tell her she was fucked but then she unfriended me on that facefuck thingee for being condescending. Oh well.....
Sounds like your average dumb liberal cunt
My neighbor's son is in his residency and has two years to go before entering the real world of private practice. The Mother told me yesterday she's worried since he already has over $255k in student loans.
He's still living at home since no landlord will even rent to him with that kind of debt.
Maybe he can list his debt as an asset ...sort of like treasury debt as an asset?
The debt might not be a problem. However, finding a job at the inflated prices he's expecting upon graduation might be.
Or just your average stupid spoiled brat.
Only if you use absolute value signs when expressing your net worth. Since most people lack basic math skills (even failing to realize the sum of the angles of a triangle drawn on a sphere is always greater than 180 degrees) use of the absolute value sign around a quantity will get you a whopper loan despite huge debt.
Saw an article not too long ago that something like 30% of Millennials believe that on a credit card with a 10K limit that only had 3k of purchases on it, equates to them having 7k in savings.
Sounds like the Feds' math models are contagious.
If we are to use banker logic, then student debts must be an asset and a good paying job - a liability.
Exactly. The. 01% count all that student loan money as valid...
Safe to say that if the students were suddenly to repay the $1+ trillion currently owed, then through the reverse magic of fractional reserve lending, that would absorb all of the dollars currently in existence. Their inability to find jobs and service the loans is a definite asset to the economy, as well as the potential to become "volunteers" should WW3 break out.
oh funny
and if they did and it was in debt coupon dollars it still would not be SAVINGS.....
there are only 2 forms of real money....Physical Gold & Silver....
right. why stash cash in a bank when it's worth less every year?
precisely.
Roger that @29.5...
Ya'll should look up what Ann Barnhardt has to say about banks...a fucking eye opener I tell ya. Listen to her 2+ hour conference on utube...crash course on the history and future of money...caution, quite the dose of reality.
All your EBT are belong to us.....
in 10 years that 1k will be worth 20 fiatskis...
interesting women save a lot less... but makes sense as they have all family court on their side, and can always marry someone, divorce him and get all the cash and prices
Mani/ pedi expenses can add up.
Miffed;-)
makeup and hair care products are expensive
Actually, they're not, if you shop smart.
But in any case, if women didn't do the hair-and-makeup thing, most men (and quite a few of the ones who post here) would hurl obscene insults at them for not being the kind guys would do/hit/bang.
Actually makeup is extremely expensive if you chose not to put petroleum distillates on your face but I do agree with you that men confuse us about wearing it. Men say they don't like it but then they point out a woman that looks good to them but she's wearing it. Confusing. Maybe the trick is not over application.
Miffed
That is the key. Frame the face...some light foundation, eyeliner, something on the lip, Chapstick does wonders.
Less is more IMO...look just above natural, effortless...just like women like their men, effortlessly handsome.
They don't need to if they take care of themselves physically.
Besides, women get until about age 30-35 before all the makeup in the world can't hide what age eventually shows.
that's the cost of doing business: you need to trick men into thinking you are better looking than you really are in order for them to sign the contract and take them to the cleaners a few years later...
Vasectomies are free...
Of course the rate of savings is highly correlated to the incomes of these millenials. And I suspect the reason so many have so little savings is college debt repayment.
Cue the oldsters finding an excuse to whine at the young people in 5....4.....3.....2....1.....
Symbiotic.
I'm not seeing the problem here. When I was young - hell, I barely had two nickels to rub together and I survived. They will too.
Well the good news is they won't have much worry in a banking crisis, stock market crash or pension bankruptcy. The bad news is they may need to eat their parents to survive.
Miffed
ya you would know something about that wouldn't you muffed?
You need to simply go the fuck away.
My parents robbed me blind.... now, I am busy robbing the millenials ....I did not actually design this system to work this way, myself ... but what does it take for the millenials to rise up and do something about it??????
Let the elders collapse the current system, kick them to the curb then rebuild.
Is there an app for that?
We will get you when your most vunerable. and its starting now. I can here the cry now-why won't anyone help me.
I know not why Janet is so confused. They realize that some fancy colorful paper isn't something they choose to hedge with. One can always get what you need by taking a house wrecking bar to someone's knees for whatever... Grow some pot. Sell some sperm.... whatever it takes.
They no longer believe in the sanctity of federal reserve notes and their power to sustain them into blissfull old age. I'm 42 and I never bought in nor believed it, either. How's that Social Security working out for you baby boomers?
Also, with all you gold bugs and metals zealots..... There are now over 7 billion people on the planet. There were about 2 billion after WWII. There is a VERY finite amount of gold on this orbiting rock. Let us just assume we go back to a gold standard. The value of gold per ounce goes up to about 20k an ounce or more? How the fuck do you conduct commerce? How do you buy a slurpee? The only answer would be to have a gold backed CURRENCY. Which is fine and all, but the ONLY TRUE definition of wealth is the excess of one's productivity. Be productive, not a hoarding uncle of Donald Duck.
that's why kyle bass bought all those nickels
and Bass said the plan was to "kill" the $
The difference between a hard asset backed currency and fiat is that on paper everyone plays by the same rules, whereas with fiat; violence can be bought for nothing.
It is quite easy to conduct commerce on returning to a metal standard. Going on your $20k per ounce...
Buy a car for 1oz used and 2-4 new.
Buy a nice suit for a couple grams.
Buy lunch with a silver dime or two.
Buy dinner with some silver quarters.
Snacks are nickels and pennies.
And so on. Oh, and for retirement, cash under the mattress would work.
Gov doesn't take care of me of me for shit...if you don't have a kid you can only get 3 months of food stamps every three years! No, we don't have any fucking savings because we don't make any $$
So who or what is howmuch.net?
All of my savings is on the bottom of the lake, bitchez.....
As a gen-x'er I accept my share of responsibility for leaving these kids in such a shitty situation. I'm sorry.
By my count, gov has gotten bigger and more corrupt, fraud is now the norm, deficits much larger, etc. Blaming this on people not even born yet, while being alive just doesn't work.
Let's see here.....
29.5 hour work week thanks to ACA, then try to find another part time job to cram into the hours one is not working, then sit back and calculate how much one just spent on taxes from job, paid into ACA, less deductibles, (Presuming they are over the age of 26) less rent, less food, less car and related mandatory expenses in most states (car insurance), or if no car, less public transportation, less any student loans......
Thus, it is not quite rocket science.
I thought many still live at home with mom and dad?
Don't know about you, but I don't know too many "Baby Boomers" that can scratch-up $1000!
including myself
Well I can, I just don't answer polling questions about it ;-)
Don't you need a job to save money?
No. If you were to buy one of everything listed in this months Costco ad you would save an estimated $1600......
Why should they if the corrupt system will steal it eventually anyway if you accumulate it.
Are these numbers merely the amount of cash such Millennials have on hand, or do the numbers also include the value of all financial investments they may own, such as bonds, stocks, trusts, life insurance, etc.?
Sarcasm I hope
Yeah ? Well I'm a Y genner and the cunt bankers can bail-in my $9.57 bank account balance, once they blow the system sky high.
Your welcome governor Poloz, you kike.
Sad that the gov't just can't let it's iron grip release but instead squeezes tighter and tighter the worse things get and eventually collapses while leaving a mangled mess in its wake. Same as always I guess.
I wonder how accurate we would be if we changed the lower dollar threshold to $12,000 instead of $1,000, and changed the word Millenial to Boomer....
I wish you a politically correct (PC), non-denominational , LGBT friendly , BlackLivesMatter (BLM) (sympathetic towards)holiday season and a relatively happy New Year (if that is what you want).I cant say Merry Christmas (b/c) that wouldn’t be PC.
Christmas is a pagan holiday ( So my atheist/agnostic friends should like that )and has little to do with my boss,Jesus Christ of Nazareth. BLM miss the real problem is all the good jobs sent to chindia. And of course ,drug prohibition.
How is that prohibition working out for ya?Murder rate ,steady drop over the last 35 yrs. goog. “FBI murder statistics”
Oh fuck off.
Paying off dirty cops is a lot more productive than getting into shootouts with them. It's just good business. And who would know better than the CIA?
Millennial Pandering is all the rage on the internet these days. The problem with The New Boomers though is that they are broke, and pandering to them is a waste of time. On the other hand, stirring up anger and resentment is at an all time premium.
Just how large is Gen Y anyway? Harvard says that Gen X and Gen Y and the "Baby Boomers" are all about the same size.
Harvard Center, Defining Generations
The "narrative" is being changed, using immigration to account for differences in the story now being told.
You can see some base data used in the Census report.
2010 Census
Using equal periods of time (instead of shortening the disenfranchised group) reveals the generational gerrymandering for what it is; a cynical attempt to pander to ego, pursuant to divide and conquer marketing strategies. Both politicians and corporate overlords favor groups they can control, and for a long time now they have been waiting for their Gen Y "Millennial" creation to replace their Baby Boomers.
Problem is, you have to pay the kids if you want them to listen. They are broke, so I guess it's war eh? How else do you keep people under control if you don't bribe them?
Nobody in this country has any buy in to the elitist agenda. The aristos are toast.
And when they divorce, they will have even less. And when they grow old and die, the medical community will take it all!
Once again all you crustaceans want to blame the government, when the reality is, the corporations would rather have the money for themselves than in the bank account of some millenial, and the corporations get what they want.
Corporations are governments too. They are microcosms of the larger government, licensing the government monopoly on violence to commit their acts.
Is the "when you're dead can I have your stuff" economy counted as savings here?
millenials only have $1000 dollars? are we talking the iphone 6s plus using, beats by dre wearing, starbucks sipping, macbook pro using millenials?
To be fair zerohedge what you should do is do a comparion of "the millenials" of past eras to see what had saved up so we are see if things are getting better or worse. Merely pulking a figure for
a year without a comparison is a bit wishy washy.
on the flip side ill tell you what i have noticed
dollar stores and thrift stores opening up everywhere
stores which have been in malls for years closing down and being replaced by lower priced competitors.
The raise of near constant never ending sales 20% off today then 15% off next week, which is market speak for PLEASE PLEASE DEAR GOD SHOP WITH US.
and on the larger international space, dry bulk shipping is suffering a great deal
There is plenty of data that can frame the context in terms of how millenials compare with previous generations. Much higher rate of individual student low debt, while comparatively lower credit card debt compared to the boomers. Also higher tendency to live at home, much lower home ownership rate, low tendency to own stocks or businesses, etc.
Or, maybe they are smart and parked all the money is silver and guns?