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#1 is the fault of the millennial who goes to college without a plan

as to what to do afterwards. The friends that I see who I don't think have much savings currently are the ones that went to college to do college. They paid $50k over 4 years to live with friends and party and not really do anything proactive for their life after graduation.

The job market has dictated for far too long now that there are jobs in STEM and trade. But colleges are still pumping out sociology, psychology, biology, anthropology, english degrees (etc) that have a limited job market. There are too many degrees, and not enough jobs. 18yos have to research what they want to do, and make sure it's viable. Most don't and end up with debt they can't repay. You can go on and on how salaries haven't kept up with college costs, and I agree. However, high schoolers need to be warned of this and that they are taking a risk by heaping on debt to get a degree that might not be too useful.

(In response to this post by vt90)

Posted: 05/16/2018 at 10:37AM

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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

It wasn't so much they weren't there.... -- HokieForever 05/16/2018 1:32PM

Still, it's being uneducated through high school about what college really -- hoosnowahokie 05/16/2018 2:53PM

There is a place in this world for those who just want "a degree" -- Tafkam Hokie 05/16/2018 4:35PM

Instant gratification generation, and here is a true example at our company -- WestyHokie 05/16/2018 12:55PM

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

Would like to see % of salary spent on food/travel/entertainment -- HWA 05/16/2018 11:02AM

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

I think that reinforces my recommendation to make a Personal Finance... -- EDGEMAN 05/16/2018 11:08AM

And management/leadership for professionals -- TomTurkey 05/16/2018 1:29PM

Yep. Sorry but art appreciation was completely unnecesary. -- hokiehunter07 05/16/2018 12:08PM

Well, maybe this guy should have taken that class -- Hokie360 05/16/2018 1:24PM

Personal Finance would definitely help, but.......... -- HWA 05/16/2018 11:56AM

I wrote him a letter last year about it. I'm lucky to have -- hoosnowahokie 05/16/2018 11:55AM

Agree 1000%. PF should be required in every school in the country... -- CochraneResident 05/16/2018 11:53AM

I pitched it to one of VT's past presidents, and actually received a reply -- EDGEMAN 05/16/2018 1:07PM

I don't know the words to describe how I feel after scrolling through -- hoosnowahokie 05/16/2018 10:29AM

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

Culture shift away from delayed gratification towards instant gratification -- HokieNoVA 05/16/2018 09:59AM

It is all generations though, alot of people have little to nothing for -- fordham 05/16/2018 09:36AM

Many live with the YOLO attitude and that tomorrow is not guaranteed ... -- OXVT 05/16/2018 09:40AM

Great strategy if you live in Africa or some other dangerous location -- HokieNoVA 05/16/2018 10:02AM

You assume those folks are intelligent ** -- OXVT 05/16/2018 10:08AM

Yes, that is a large factor. The problem is if you don't die -- fordham 05/16/2018 09:42AM

The paradoxical thing about retirement is worst case is living a long time. -- `lag 05/16/2018 10:11AM

Then they'll stress - lol :) ** -- OXVT 05/16/2018 09:43AM

Think how crowded the courses would be if everybody retired ** -- bigbadbird 05/16/2018 09:18AM

Visit a Florida course in January - that's what it'd be like. -- Hokie360 05/16/2018 09:33AM

Blame the Star Wars Legos ** -- OXVT 05/16/2018 09:17AM

LOL, those are an investment -- HokieForever 05/16/2018 09:18AM

Yeah, I've bought $8k in Legos to store a bunch of unopen boxes :) ** -- OXVT 05/16/2018 09:22AM

Now their worth 2K :-) -- HokieForever 05/16/2018 09:23AM

True ... -- OXVT 05/16/2018 09:29AM

How do you get the loose pieces to stick to the ceiling like that? ** -- StressHokie 05/16/2018 12:22PM

The millenials I know are way more cognizant of saving than older folks. -- CochraneResident 05/16/2018 09:08AM

My son showed me his savings after one year snd I'm impressed ** -- TomTurkey 05/16/2018 09:23AM

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

Housing is affordable outside of the major cities -- Hoke 05/16/2018 10:34AM

Yep, I think people overlook the lifestyle choice. -- HWA 05/16/2018 11:08AM

We could talk for an hour on housing. I'll just say that lack of saving -- CochraneResident 05/16/2018 09:18AM

That is fair but if you look at the percentages -- HokieForever 05/16/2018 09:21AM

You have to remember their age. They've had less time to save, and -- CochraneResident 05/16/2018 09:58AM

There are a lot of valid reasons why millenials are 'in trouble' ... -- vt90 05/16/2018 09:35AM

#1 is the fault of the millennial who goes to college without a plan -- hoosnowahokie 05/16/2018 10:37AM

It is also the fault of those demanding country club type amenities on -- Hokie5150 05/29/2018 09:33AM

Would probably say to NOT lump the english & bio majors in with the rest... -- EDGEMAN 05/16/2018 10:59AM

Social Security is currently fully funded through 2034. -- Burke Hokie 05/16/2018 09:53AM

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

Eh - they'll still get a participation trophy at age 65, even if no savings ** -- Hokie360 05/16/2018 09:01AM

No. Unfortunately those of us who have saved will end up paying for them. -- vt90 05/16/2018 09:11AM

At that point just allow yourself to be declared dead, go off the grid and -- Late 80s Hokie 05/16/2018 10:35AM

#1 is the fault of the millennial who goes to college without a plan

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