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vt90

Joined: 12/12/1998 Posts: 44906
Likes: 24266


There are a lot of valid reasons why millenials are 'in trouble' ...


1. College tuition has skyrocketed relative to inflation so there student loans are far more burdensome than previous generations.
2. Housing is essentially not affordable without two incomes at this point in most locations.
3. If they want to put their kids through college, it will cost (for a kid born now) roughly $180k per child for in-state tuition. Tough to save for retirement if you want to save for your kids' tuition and you are still paying off your own student loans. (The best plan is to save for retirement first - but new parents frequently ignore that)
4. Until recently, the job market wasn't very good in a lot of places. It is far better now but missing early years of retirement savings can really hurt your bottom line come retirement time.
5. What will Social Security look like when they retire? Not sure what it will look like in 10 years when I retire but probably not what it is now.
6. They are all lazy and entitled snowflakes. (haha - just kidding. Wanted to see if anyone read this far. I work with tons of millenials and for the most part they all work very hard).

(In response to this post by HokieForever)

Posted: 05/16/2018 at 09:35AM



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Current Thread:
 
  
Savings and Millenials -- HokieForever 05/16/2018 08:57AM
  That's really hard for millenials, IMO. -- Chris Coleman  05/16/2018 1:14PM
  Are you hiring?! ** -- 81_Hokie 05/16/2018 9:22PM
  Always, in aerospace ** -- WestyHokie 05/16/2018 11:41PM
  Wow, that's fantastic! -- EDGEMAN 05/16/2018 1:09PM
  Here's where it gets really Alice in Wonderland -- WestyHokie 05/16/2018 3:25PM
  Ah, "White Rabbit" by Jefferson Airplane. :-) ** -- Atlee Hokie 05/17/2018 07:39AM
  And you're right, gotta do the math first ** -- `lag 05/16/2018 11:20AM
  I'm technically a millenial. -- hokiehunter07 05/16/2018 10:50AM
  National Debt Clock - Tick Tock Tick Tock -- FrederickHokie 05/16/2018 10:18AM
  At 40T? more tax cuts to balance the budget ** -- 81_Hokie 05/16/2018 12:21PM
  Blame the Star Wars Legos ** -- OXVT 05/16/2018 09:17AM
  LOL, those are an investment -- HokieForever 05/16/2018 09:18AM
  Now their worth 2K :-) -- HokieForever 05/16/2018 09:23AM
  True ... -- OXVT 05/16/2018 09:29AM
  Is he gonna get a hottub with a 60 inch TV? ** -- bigbadbird 05/16/2018 09:32AM
  Probably not. ** -- TomTurkey 05/16/2018 09:50AM
  Disagree on the housing bubble -- HokieForever 05/16/2018 09:13AM
  That is fair but if you look at the percentages -- HokieForever 05/16/2018 09:21AM
  Yep. And it is after 2034 that concerns me ... -- vt90 05/16/2018 09:57AM
  Agry. I have similar fears as well -- Burke Hokie 05/16/2018 11:15AM
  I have the same thoughts ... -- vt90 05/16/2018 11:20AM
  All fair points... -- HokieForever 05/16/2018 09:38AM

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