Millennials

>>994453
Aren't most millenials like in their early to mid twenties, so college-aged?

Most would be poor, then, just from being at entry-level job experience and freshly taking on housing themselves.

It'll shift higher as they get older.

>>994453
>Tfw ur in the top 7.3%

Feels good. And I'm a NEET too lol. If i had a job it would be much much higher.

File: older millennials suck too.jpg (180KB, 1600x1004px) Image search: [Google]

180KB, 1600x1004px

>>994459
The older millennials (25-34) also have tragically low savings rates. The entire generation sucks.

>>994472
>top 7.3%
>top
>3rd lowest group
confirmed for NEET

>>994472
>In the 7.3% range
>thinks it's top
That's millennials for ya.

File: dogeanza.jpg (43KB, 469x469px) Image search: [Google]

43KB, 469x469px

>>994472

Learn math, please.

You aren't in the top 7.3% when 22.9% have more money than you, according to the image.

>>994478
>>994479
Oh didn't see.

Well that's a bad chart then.

It should be progressive and include the previous amount.

>>994484
>not even a chart
Oh... Bro....

>>994484
Typical millennial response
>makes stupid mistake reading chart
>"well, um, the chart oppressed me"
>tries to force #chartlies meme
>starts whitehouse.gov petition to change chart

>>994478
>>994479
>>994481
>>994488
Fuck off fags. You're probably millennials yourselves.

And if you're not, why are you on /biz/ let alone 4chan where almost everyone is a millennial or NEET? Don't you have some adult place to talk?

>>994491
Typical millennial response
>attack the speaker not the message
>"i have a right not to be offended"
>"4chan: this is my safe space"

>>994493
I don't really care, I'm just curious why non-millennials come to an imageboard created by, and for NEETs/millennials?

What is even interesting for you to talk about here? You know that over 50% of this board is unemployed according to polls right?(And i'm one of them)

>>994453
What if you have above 150k? :^)

Millenials actually have higher saving rates than their parents generation. Overall their attitude towards money seems to be rather conservative. Perhaps because so many of them have been bitten by the economy but I'm not an expert.

>Source: I work at a finance company and get to see stats on retirement savings

>>994505
Gen X was no great role model, and also got pummelled by the 2008 crash (which most Millennials missed). But Gen X got their shit together, fast.

http://www.huffingtonpost.com/gobankingrates/7-ways-generation-x-is-be_b_8772892.html

Millennials, not so much. They're waiting for someone to do it for them, apparently.

>>994513
>Millennials, not so much. They're waiting for someone to do it for them, apparently.

So why are you on this board gramps?

>Comes to website of millennials/NEETs to try to debate them about why their generation is so shit

What is even your point? In fact you probably are one, no one else who is mildly successful would be wasting their time on this.

>>994481

That's not even math. It's reading comprehension.

>>994502
Hide it before taxman take it all.

>>994453
>100% of Millenials have less than 20k.
Okay dad.

I was born in 96, what generation am I?

19 now, 20 in 6 months

>>994557
>I don't know how to read a chart.
We'll played.

>>994558
You're a millenial. Late 80s to 1999 is millenial, 2000 and after is a "Founder" apparently, because the marketing firms want to suck their dicks in vein hopes that they'll have any money to spend on them after student loans.

>>994559
>We'll
I'll see myself out.

File: brock-thinking.jpg (66KB, 612x574px) Image search: [Google]

66KB, 612x574px

Millennials sit around on their $2,000 laptops sipping on their $8 Starbucks beverage wearing a $50 t shirt complaining they can't afford groceries because of student loan debt. My nephew drives a 2015 Camaro complaining about money all the time bumming off my Brother. Fucking retard.

>>994557
>100% of Millenials have less than 20k.
>one of the categories is literally labeled "More than $20,000"
I'm seeing a pattern in this thread. Millennials are too stupid to read charts, let alone save for their future.

>>994519
Why are you so angry, kid? It doesn't really matter whether I'm a self-hating Millennial, a cane-waving Boomer, or an alien from Mars. Facts are facts.

Get your head out of your ass and learn to deal with your problems instead of blaming others for causing them.

>>994591
>Get your head out of your ass and learn to deal with your problems instead of blaming others for causing them

Well what's your financial situation Mr. Boomer?

How much do you have right now in savings and what's your career prospects look like? (Willing to bet you're either in University or a few years graduated right now with <$20k)

File: Screenshot_20151206-133426.png (96KB, 1080x1920px) Image search: [Google]

96KB, 1080x1920px

Millennial here

>>994639
>poorfag.jpg

The reason for this is because millennials would rather pretend to be independent by moving out of their parents house as soon as they can, thus being shafted by the crafty merchant landlord or crafty merchant mortgage lender.

They need to stay at home and save enough for an investment portfolio and/or deposit.

>>994688
>butthurt.png

>>994693
That's generally true. I know I wanted to get out of the house as soon as possible, but opted to stay home for Uni and a decent part-time job.

It's worked out for me overall. Most of my friends couldn't pay for a new tire right now if they had to.

>>994513
>Huffington post
>ever

>>994693
>The reason for this is because millennials would rather pretend to be independent by moving out of their parents house as soon as they can, thus being shafted by the crafty merchant landlord or crafty merchant mortgage lender.

Actually that's pretty wrong.

Millennials are the one generation that is significantly late to moving out/starting their adult life, I even think that's the cause of a lot of their debt problems and all. - They never learned the value of money or how to be independent! It's hard to actually work hard and get a job when you're not forced to. When you live with mommie and daddie it's easy to just study psychology, work part-time at most and say "eh what's the big deal, ill move out at 23, 24, 25... fuck it maybe 28, maybe 30. Who's counting anymore?".

Whereas if you moved out at 18-20 you'd see that how hard you work at your job/school DIRECTLY relates to how you eat that month and how much things you can buy it's a lot easier to major in something actually good, learn to budget, look for job promotions and ways to get ahead, etc.

With statistics like these, the future real estate climate can be accurately predicted. With interest rates bound to increase, attaining a home on credit will become even more difficult, and without savings our current generation will be dependent on rentals.

I've been thinking of buying up a bunch of land in West Atlanta when the decaying suburbs cause people to flock to the cities. There's a lot of potential for that area once the rest of the city is gentrified and middle class families need somewhere to live.

File: lomo.jpg (140KB, 790x522px) Image search: [Google]

140KB, 790x522px

>>994453
That certainly holds true if you just look at the robinhood threads top kek

But it looks like the baby boomers aren't doing much better (in general) either. Some stats showed that 80% of americans are too poor to even consider participating stock market.

File: vwtdhDd.jpg (34KB, 648x518px) Image search: [Google]

34KB, 648x518px

>>994800
This is very true. There will be a hilarious interest rate hike, just wait the fed to raise a quarter point and the hell breaks loose.

>>994639
Why the fuck do you have 30 grand in a checking account?

>>994823
>just wait the fed to raise a quarter point and the hell breaks loose.
The hike was announced weeks ago. Any hell breaking loose would have already happened.

No wonder Millennials are so poor. They don't even know how the market works.

File: Chloe-Grace-Moretz-out-and-about-candids.jpg (189KB, 1000x1500px) Image search: [Google]

189KB, 1000x1500px

>>994848
You are now comparing a stock move anticipation or something to a realized interest rate raise which will have huge impact on everything long term. All the leverage shifts to the opposite direction which start the rate hike. I hope you haven't bought a floating rate scam.

>No wonder Millennials are so poor. They don't even know how the market works.

Speak for yourself

>tfw in the 1% for my generation. Hopefully, i can stay there for a lifetime

>>994861
>a realized interest rate raise
Wtf is a "realized" interest rate increase? You're a funny little poorfag.

>>994560

Sweet thanks, I thought I was Generation Y lol

Millenials, so I'm just a guy that waits for things to come to me? The $38k sitting in my account from my entrepreneurial ventures (not raiding the bank of mom and dad) says otherwise.. Almost have enough to put a down payment on my house and start renting it out to live rent free in college! Or buy my dream car, a Nissan Skyline GTR R35...

>>994639

30 grand in checking. Why?

>>994553
Tax man already did :(

File: rarepepe099.png (104KB, 399x388px) Image search: [Google]

104KB, 399x388px

>>994639
>30 grand in checking account

File: tumblr_m2flo2Tyjq1r81lryo1_500.gif (935KB, 500x273px) Image search: [Google]

935KB, 500x273px

>>994895
whatever kiddo. just remember you heard about the rate hike from clomo first

"Y ARNT U ALL WELL OFF"

gr8 post OP

>>994573
gotta spend money to make money

>he doesn't have 30k in his checking account

POORS LMAO

>>994951
why would u?

>>994923
>I thought I was Generation Y
You are. Gen Y and Millennials are the same fucking people.
>fucking Millennials. every time.

>>994827
>>994929
>>994933
Honestly, I'm sort of retarded when it comes to sorting money in bank accounts. How much should I keep in checking?

>>994959
>Dumb retard still hasn't told us how much savings he has

How do we know you're not a millennial NEET just like us?

>>994946
>"Y ARNT U ALL WELL OFF"
>missing the point this badly
It's not about if you're rich. It's about whether you're saving an appropriate amount of money at an age when that money can compound and grow the most.

And too fucking many Millennials are not.

>>994964
>Dumb retard still hasn't told us how much savings he has
Not that it matters, at all, but you don't want to know. Trust me.

>>994962
I would keep 3 months of expenses (scandinavian). But americans tend to keep 4-6 months.

I guess I am in the 16.5%, I wonder what the 1% is

Does this count 401k?

>>994478
lmao>>994472

>>994453
>Get your shit together, morons.
I will if you get me a full-time job with benefits that pays above the poverty line.

>>994453
>be me
>be 19
>be from poor family
>be established 16.5%
>tfw poorfags will defend staying poor

>>994967
>Not that it matters, at all, but you don't want to know. Trust me.

So... <$10k?

No one who is moderately successful or working towards it sits on /biz/ for 7 hours asking retarded questions about le millennials or trying to feel superior to others. You're as much of a NEET as I or anyone else on this board is.

>>994754
>back in the day when a part-time summer job paid for tuition
>back in the day when college actually got you over $15/h
>back in the day when America was great and jobs were booming

whats next grandpa?
>kids these days don't even rush to Alaska, where gold is literally on the ground
>kids don't even get try to get a job building railroads

My dad came into this country 30 years ago:
-didnt know english
-no contacts
-no education
-no previous job ex, aside from baker in country of origin
-is actually quite stupid
Got a $15/h operating machines entry level, worked his way up now VP operations for a mid sized firm doing bank

Boomers dont realise all they have was practically GIVEN to them for being at the right place at the right time (not even being the right person because anyone got big in the 80s)

>>994453
Im 29 and I make 60k but I literally spend all of it. I have $200 in savings.

How the fuck do you spend $60k a year?

File: baby_boomers.png (307KB, 968x634px) Image search: [Google]

307KB, 968x634px

>>994453
>>994474
>>994513
WWWWWWWWWWWWWWAAAAAAAAHHHH
>Millennials don't save any money
>Millennials don't don't have more than 10k saved
>18-24 in college don't have several thousand dollars in their bank accounts
>Millennials don't buy houses
>Millennials aren't buying brand new cars
>Millennials don't have college degrees
>Millennials are causing a bubble in the student loan market
>Millennials have to much debt they can't default on

>WHAT IS WRONG WITH THEM

You fucking people are unbelievable
We don't have any fucking money
We can't get good jobs
Everyone and their mother has to have a 4 year degree to answer a phone or file papers (plus 3-10 years experience)
College is held at usury level prices
Every store you apply to for entry level work wants you to have 6+ months of experience, then they cut your hours every week by sending you home early.

>>994513
>People who already have either degree/degrees or experience bounced back faster in a totally shit economy than...
>People who were in high school or about to graduate college when the economy shit the bed

Fuck you people.
>Millennials are terrible children who don't spend enough money and aren't making any money

Realize this entier generation especially in the 18-26 range were dealt a really bad hand in life, and a terrible start in a depression that still hasn't ended and won't end until maybe the mid 20's

>>995040
Stop bitching that Boomers had it easier. Do you have any fucking idea how easy it is to make it in the US these days? The ratio of job seekers to jobs is the lowest in history (literally 1:1, down fro a high of 7:1 and well below the average of 3:1). Anyone who can't make it in today's economy has something serious wrong happening.

>>995042
>I literally spend all of it
Well then, stop doing that junior. Unless you like the taste of cat food.

>>995045
Fucking walls of text. Ain't nobody got time for that. Ignored.

>>995045
/thread
image was a great add-on

>>995045
>>995056
m-m-muh boomers

>>995047
Can I ask you:
What are your qualifications? I wanna see if you'd be eligible for an interview at any kind of work TODAY

>>995058
Why the fuck do my qualifications matter? This thread is about Millennials, their savings rates, their bad habits, their poor work ethic, and their self-entitled narcissism.

If you can't have a discussion about a topic without checking the Facebook page of the speaker, then kill yourself. Ideas have validity and credibility beyond the person conveying the ideas into your small brain.

Too many millennials got coddled by their parents and told to chase their dreams. They didn't prioritize acquiring marketable skills, racked up a lot of student loan debt getting worthless degrees, and now complain about income inequality because they make $30k/year and can't afford their loan payments. I'm lucky my parents taught me it is important to earn and to save, so I'm 30, have $250k equity in my home and $200k in various financial assets.

>>995063
>how easy it is to get a job
>why would I tell you that you couldn't get a job even with my qualifications
>"literally 7:1 jobs"
>yet millenials cant get jobs and save money

>>995063
>obvious millennial with no money

Just as I predicted.

Yeah it's easy to philosophize about le generations and be le wise man but you're not any better.

>>995063
If you'd tell me already that you have a BAC in history of aboriginal arts, then I wouldn't even hire your for a McJob

>>995058
He could have qualifications and experience (like me), but still struggle to get jobs. There are always outliers, especially on imageboards. People who aren't struggling probably aren't on this site. I know when I was doing well I never came here.

>>994490
Not him, but to be fair that is an awful chart. There are much more effective ways at displaying a cumulative distribution and histogram that don't involve stupid squares.

>>995047
>Fucking walls of text. Ain't nobody got time for that. Ignored.
Yeah I shouldn't have spent so much time but seeing threads like this throw me into a rage.
It is seriously frustrating being young in this age.

>20
>Need to pay my school 2k by the end of semeseter
>Looked for any entry level work for 6 months
>nothing
>Had to apply to toys R us TWICE (Lied second time about having extra work history)
>Barely get any hours
>didn't even put me on schedual this week
>Seasonal so they probably aren't making enough to keep me on
>Have to look for a job again post season
>Won't make my school payments which will be sent to a collection agency and I can't enroll for next semester
>FML

>>995056
Thank you friend

>>995056
I don't explicitly blame boomers but they had it MUCH easier than we did and basically had life handed to them on easy mode economically/job wise

>>995090
>Not lying on your resume everytime

Dude just make up a bunch of lies and practice them really well. People want 1 year+ exp for cleaning toilets? Ok give them 1 year exp.

Just always lie, who cares senpai honesty never got niggaz no where

>>995090
> I don't explicitly blame boomers but they had it MUCH easier than we did and basically had life handed to them on easy mode economically/job wise

> What is staglfation in the 70s?
> What is being drafted to go to fight gooks in the jungle?
> What is not being able to find any work if you have a vagina?

>>995067
>>"literally 7:1 jobs"
1:1 Magoo. One-to-one. One job for every person looking for a job,

No excuses, loser.

>>995068
Even if I was a loser Millennial like you, that still makes you a loser. Loser.

>>995103
>Even if I was a loser Millennial like you, that still makes you a loser. Loser.

>He still won't tell us how much money he has
>He still won't tell us his job
>He has been in this thread for the last 8 hours

Buddy you are so obviously a NEET it isn't funny.

Does it make you feel good to shit talk people who are the same as you if not better?

No one successful makes threads about "le millennials" and posts in it for 8 hours desperately trying to insult an entire generation.

File: depositphotos_6374619-Two-girls-giggling.jpg (259KB, 1024x712px) Image search: [Google]

259KB, 1024x712px

>>995113
How's your savings, anon? Got a good start?

>>995121
>How's your savings, anon? Got a good start?

Yeah not bad. Around $9k right now and I'm a NEET so I still got time to make more.

How about you? You seem to never mention your own and keep deflecting questions when you're an obvious NEET who has been in the thread for over 8 hours lol

>>995121
> 32
> No debt
> $25k in savings
> $120k in investments

I guess I'm in that top 20%.

>>995113
Look, the fact of the matter is that we generally received bad advice from our parents who never attended college.

They meant well - they wanted us to pursue our dreams instead of just working a job that ranges from tolerable to awful to put food on the table. But the fact is that the priority for your education should have been to gain the knowledge and experience to enter a field that makes money.

If you didn't major in engineering, finance, accounting, nursing, hard science, or something to get a graduate degree to do teaching/research, you probably are wasting your time and money by attending college.

The second piece of this puzzle is that you should attend a university located in the vicinity of the industry you intend to enter. For example, if you want to go into big corporate accounting, you go to school near a big city, preferably NY. If you want to go into software engineering, you go to school in the bay area or Seattle.

It doesn't help that if you had a college advisor like me, you were told 'just take classes in something you like.' No, you are not spending tens of thousands of dollars just to sample textbooks on cultural diversity.

>>995139
>If you didn't major in engineering, finance, accounting, nursing, hard science, or something to get a graduate degree to do teaching/research, you probably are wasting your time and money by attending college.

Wow what a revelation!

I guess this is what they have these things on the internet called "best majors list" on forbes, employment rate of majors and starting salaries.

>>995096
>Not as bad as today and much more short term
>Iraq and Afghanistan
(At least they got paid)
>Feminism and a different time

>>995093
I am about to start doing this with entry level jobs EVERY SINGLE TIME I APPLY

Just advice though what should I do for jobs that "prefer" people with a full engineering degree or associates and I am about 47% of the way complete with my 4 year. (Engineering)

>>995147
>I am about to start doing this with entry level jobs EVERY SINGLE TIME I APPLY

Do it, just make up a bunch of shit and exaggerate everything. If you're not getting interviews and can't find a job then you have nothing to lose.

>Just advice though what should I do for jobs that "prefer" people with a full engineering degree or associates and I am about 47% of the way complete with my 4 year. (Engineering)

I don't have the balls to lie that much and I wouldn't advise it, but i guess you could lie about a degree if you needed to, but you'd really have to back it up and act the part.

>>995047

Nigga you could have bought a house, owned a new car, and lived on minimum wage as a boomer and have your wife be a full time housekeeper/parental care.

In order to any of the above you've gotta be making 3x the minimum wage in an economy that's consistently lost decent paying jobs and your wife has to make around the same if a little bit less.

>>995144
They didn't have that shit when I started college. Most people's first experience with broadband was in their freshman year, and the network slowed to a crawl thanks to mass music downloading.

Yea, you guys today really don't have any excuse for not doing your HW on that kind of stuff, but I bet parents are still encouraging their kids to follow their dreams rather than filter that down by what actually puts food on the table.

>>995147
There was no draft for Iraq/Afghanistan, and American casualties were far fewer.

Stagflation and the bad economy lasted an entire decade, the recession of 2011 lasted like 3 years.

>>995161
>but I bet parents are still encouraging their kids to follow their dreams rather than filter that down by what actually puts food on the table

That's why there's dumb people and smart people. Retards will listen to this shit and smart people will use their head instead of listening to parents and teachers who are unsuccessful and actually think "Does this major give me skills and job prospects that earn money?" - Social sciences do not because they do not generate any money in any way besides academia which is a scam.

>>994573
I don't. I've had the same shoes for 3 years. The only thing I wear is work gear.

But I also have a gnarly Oxy addiction that clears out my savings everytime I get over 1k

>>994962

Some fucker is going to hit the jackpot when they steal your debit card info.

Oh and that money is gone unlike a credit card

>>994693
This is because boomer/genX parents are big time fucking assholes who moved out at 18 and expect the same thing from the millennials even tho were in no economic position to do so

>>995161
>There was no draft for Iraq/Afghanistan, and American casualties were far fewer.
It was still a war for our generation (if not the older Millennials)

>Stagflation and the bad economy lasted an entire decade, the recession of 2011 lasted like 3 years.
>the recession of 2011 lasted like 3 years
>lasted like 3 years

This depression which started in late '07 is still ongoing especially for young people. You're out of the loop.
Lastly look at any other post in this thread. Boomers had it easier than any other generation and could afford to live off of a minimum wage job and still enjoy life. You can't do that now

>>994453

> gen x: GO TO COLLEGE
> gen x: WHY NO MONEY?
> gen x: WHY NO JOB?

You are the dumbest generation I swear.

Well, might as well explain my long-term plan

>College 2013-2017
>Home with parents 2017-2019, pay off student loans entirely
>Rent 2019-2021
>Down payment, Marriage and Child 2021

The biggest problem here is renting. In NH, it is actually IMPOSSIBLE to live on your own with no assistance working an "entry-level job." I'll be an engineer and living with my girlfriend, so we can definitely afford it, but it'll put a dent in my savings. Also right now my girlfriend is living with my parents, she has been since this time last year.

>>994962
You'd earn more on your dividend by putting most of it in your savings obviously. So why the fuck haven't you done that? How did you end up with all of this money you don't know how to manage?

It may have already been said, but I'd be interested in seeing this chart for other generations. It sure does look like just a typical wealth distribution chart to me.

>>995047

Gen x can't raise kids, that's the fucking problem.

Wait, I forgot, that generation can't take responsibility for anything.

>>995093
This. JUST FUCKING LIE ON YOUR RESUME. You're not going to work for the government or a top tier firm. Most places don't do a background check. You can lie and say you worked in sales for 4 years and no one would ask you. Or have a family member connection. Stop trying to live your life like its filled with merit. The US is a mediocre society.

>>995196
Yep.

In fact for shit-tier positions I bet they wouldn't even be able to tell you're lying. If you just said "Y-yeah i worked there for 3 years" and sounded autistic the hiring manager would probably be too dumb to even realize. He'd just think you're not much of a talker and actually good worker or something.

>>995199
Mid size companies have shit hiring managers. Most places don't background checks because its expensive. Places like Goldman Sachs can afford for obvious reasons. Just say you worked throughout college and no one will bat an eye.

>>994848
>thinking the market prices everything in efficiently all the time.

Your line of thinking basically makes a 100% guarantee that it's not fully priced it.

>>995200
>Mid size companies have shit hiring managers. Most places don't background checks because its expensive

Eh it's not completely unheard of, but if you do it strategically and pick maybe somewhere that closed down or something recently it's a better chance.

I mean you never know, they could always call you out on your lies immediately and then check your references but you got nothing to lose anyway especially considering it's a part-time job and you just want some quick pay rather than using it for future reference for your real career.

>>995203
Most companies don't do references these days. Everyone just lies on those things. Its the out-of-touch boomer manager who still does that tactic. Put an internship in your resume of a company that doesn't exist anymore. That can't verify it. EVER. All records are expunged and other information is legally closed to the public.

>>995202

Thinking every conspiracy theory is "priced in" the market, makes gen x feel better about themselves and their choices in life.

>>995200
>Most places don't background checks because its expensive.

More and more often, the outsourced Applicant Tracking System that companies use includes automated background checks as part of the standard service.

You might want to run a basic check on yourself, and make sure your resume doesn't conflict with what the check will show. You don't want some software to decide that you lied.

You can get one free report per year from one of the big employment history databases used for background checks by sending in this form: http://www.theworknumber.com/employee/DataReport/report_request.pdf

>>995210
>Put an internship in your resume of a company that doesn't exist anymore.

Make one up lmao.

Copy the job responsibilities off some overachiever's LinkedIn page and just make up a company name and you're gud to go.

>>995214
Or that.
>>995213
I'll do that. But basic background is just your name, SS, and employment history.

File: cat five.gif (1015KB, 450x287px) Image search: [Google]

1015KB, 450x287px

>>994453

> generation that has to reap the fucked earth sowed by boomers is struggling

gee what a surprise

The silver-lining in all of this is the boomers won't have their golden retirement. It will be a brown retirement. They'll die in poverty. Their kids will barely help them because they mistreated most millennials and gen xers.

>>994453

Millenial reporting in. 25y/o. $13,000 in savings/checkings.

$24,000 left in student loans.

On track to hit $1 million net worth by 2021.

>>995264
Kek. Like Millennials care about the Earth. The only thing keeping Millennials from producing even more waste than they do is their lack of wealth. I shudder to imagine the depravity of consumerism that would exist if Millennials weren't completely retarded about growing their wealth.

It's like Mother Nature made Millennials stupid to save herself.

>>995280
>HE'S STILL INE THE THREAD 10 HOURS LATER

Dude you ARE a NEET.

why are you so selfhating?

>>995280

I'm not understanding why the previous generation is making fun of the generation they've raised.

How does that work?

>>995288
Human being are fucking retarded. This is older than prostitution. Its a way to vindicate their last remaining power before being raped in the ass by the next generation. Its something to do with survival instincts.

>>995281
>he doesn't know that the thread stays around when i close the browser
Millennials ... God's greatest mistake

>>995288
OP is a neet.

He has been posting here for 10 hours. Not successful person would keep posting in a thread about millennials for 10 hours lmao.

He's a neet just like the rest of us :^)

File: OP.jpg (32KB, 500x281px) Image search: [Google]

32KB, 500x281px

>>995302

> filename

>>995301
>He keeps coming back over the course of hours to keep posting about millennials and how much he dislikes them

Wow really sounds like something a successful older man who has children and a wife would do!

File: dNVvntX.gif (133KB, 311x366px) Image search: [Google]

133KB, 311x366px

>>995305

>>995308

Why are you getting your wife involved in this discussion?

>>995308
You know your criticisms of "le human race" and "le -generation i don't like-" isn't very valuable when you are one of them?

It looks the same as when 14 year olds say they were born in le wrong generation because kanye west is popular or something.

File: good-good-let-the-jimmies-rustle-through-you.png (256KB, 494x359px) Image search: [Google]

256KB, 494x359px

>>995315

>>995329
Here we observe the NEET in his natural habitat, using memes when he has been discovered.

File: 200_s.gif (32KB, 320x200px) Image search: [Google]

32KB, 320x200px

>>995330
>he doesn't know i never claimed to be anything at any time in this thread
>he apparently has delusions

>>995331
You implied it.

Why do you think you can mock others when they are literally better than you? At least the people with no savings actually work and contribute to society. You just sit at home and philosophize all day. Maybe if you tried living on your own you'd see that it's not as simple.

And hey I'm a neet to but at least I appreciate my ability to NEET.

File: 3755420+_64e5b36f2b84562db637e095c2105f22.jpg (15KB, 257x200px) Image search: [Google]

15KB, 257x200px

>>995339
>An admitted NEET with a four-figure net worth is trying to give life lessons

>>995340

You still live with your parents in your 30s?

>>995280

> not getting the analogy

yur dumb

>>994453
Even in college I can maintain my bank account between 5 an 10. Usually not much more than 10 because at 10 I just go on trips. I'm young, I want to see things.

>>995340
>Someone who refuses to tell us his savings or job wants to share his edgy opinions on an entire generation yet has been posting in a thread for 10 hours periodically

How are you literally any better than me?

>>995342
>analogy
That word doesn't mean what you think it means.

>the irony
>my sides are in orbit

>>995341
Why do you morons keep trying to guess m situation? It doesn't change anything I've said about Millennials or the facts that I've cited.

Its creepy in a gay stalkerish way.

>>995343
No one cares about your college bank balances, kid. We're trying to have an adult conversation here.

>>995345
>How are you literally any better than me?
I'm smarter, for one. More honest, more realistic too. Lots of other things as well, but this thread isn't about me.

>>995345

His mom brings him hot pockets.

>>995346
edgy

>>995346
>I'm le smarter than u

Oh yeah? Then why are you a NEET? What good is your intelligence bringing you at home?

File: KEEP-CALM-AND-KEEP-TRYING-MMM-02-25-131.jpg (78KB, 800x1138px) Image search: [Google]

78KB, 800x1138px

>>995349
>assumptions

>>995350
It is the logical conclusion.

It's Friday night and you've been posting in this thread for hours.

Everyone here is complaining about boomers while trying to live like they did. This is the future, anons, embrace it.

>boomers could buy a house on minimum wage
you can buy multiple full bitcoins on minimum wage
>boomers didn't have to compete so hard to get a job
well with all the competition for jobs, now is a great time for you to be hiring, no rip off college degree required to hire people

Make your own path, the boomer path is too crowded with boomers and now everyone who wants to copy the boomer formula, you can't win there.

Too lel my generation is full of failures. I like it though. Makes me feel even better about myself. I am the 1%

>>995362
le special snowflak

>>995237
A basic background check has a bit more info than you might think.

Here's a sample report from Equifax:
http://www.theworknumber.com/samples/The-Work-Number-Employment-Data-Report-EFX-WS-0205-11-21-14.pdf

Note the following interesting things:
* Full pay history - including that there were garnishments
* Workman's compensation claims
* Insurance information, including family status

>>994453
>tfw used to be 16.5% w/ $29k saved after only 5 years of work at a real job

>only $1550 in checking now because I haven't been able to find a job for TWO FUCKING YEARS

>>995190
>How did you end up with all of this money you don't know how to manage?

They don't teach that in school anymore. Or in college unless you take Econ.

>>995045
Freelance or start a low overhead business you lazy fucking NEET faggot. Back to /r9k/ with you - oh, and I'm a millenial.

>>995170
Funnily enough, this has already happened. Someone got my card number during a breach and charged about $2000+ worth of shit.

The CU credited back the money in a couple of days, however.

File: 1436420958547.jpg (18KB, 320x240px) Image search: [Google]

18KB, 320x240px

>>995047
>The ratio of job seekers to jobs is the lowest in history
>Literally 1:1

Most boomers don't have money to retire nor savings. The Atlantic posted an article about the upper middle class being poor. Let me link it.

>>994453
I'm a millenial, I'm in the top 16,5%, yay me.
>>994501
You're a fucking retard

>25yo
>$170k
>Only worked casual jobs whilst at uni

How the fk do cunts only have like $5k by my age?

>>995139
>32
You're Gen X, mate

>>995559
I think the better question is, how the hell
do you have 170k senpai?

>>995346
>starts thread about Millenials' savings
>disregard's the finances if college kids

College kids are Millenials you moron. That anon's savings are the topic of this thread.

>>995572
Worked casual jobs since I was 18.
Stayed at home during Uni (rent free).
Made a little bit of money online (CPA shit back in 2010, some online retail in last year).
Saved and invested in ETF's.

Lmao fact is if you can do manual labor or blue collar work you can live fine without a college education even today
source: my grandpa worked in a semi factory, got laid off a shit ton

My mom worked in an auto factory (lmao jap management is amazing no lay offs except for temps)

I work for a tier one auto supplier and made 35k at 21 not even topped out. Been living alone since 18 because my father disowned me

Anyway anyone can get a warehouse or factory job right now easily. Or a trade job. Everyone's just a big baby about blue collar work and every young person thinks they're entitled to a white collar job.

I live in a town of 10k people with like no crime and I can't complain desu senpai. And obviously someone will respond with how every thing isn't their fault or how they don't want to do that stuff

How about instead of being a victim you take charge. Instead of saying "my phone fell out of my hand" you need to say "I dropped my phone"

Isn't it liberating to say "I'm in control and its up to me to fix this"
You are in control of your life. If there's a problem, there's a solution but it might not be what you want

File: 1441767044132.jpg (480KB, 3268x553px) Image search: [Google]

480KB, 3268x553px

>>994453
My net worth is approx. 500K. I own 4 town homes, an office building, and 10 additional acres of land.

Get in my level, bros.

File: uugh.png (417KB, 500x700px) Image search: [Google]

417KB, 500x700px

The whole notion behind savings is a fallacy. I can't believe people really believe that industry depends for its maintenance on abstinence from consumption i.e. the restriction of the market demand for goods. If people actually attempted to exchange their savings for actual property all at once prices would dramatically raise and clearly prove savings is just a potentiality of producing new wealth by setting in motion future labour.

All that happens when people spend is a passing of a "claim to wealth" from one hand to another, it's not like there is a destruction of anything in the process.

Misunderstanding finance is today the key internal contradiction of capitalist accumulation and why we are doomed to see it continually manifested in monetary crises and crises of liquidity. A rational economy would restrict "profit" to "absolute profit" corresponding to "absolute surplus value" and would distribute it to the various parts of the economy portions of the "absolute profit" of the whole economy.

>>995582
>35k
Neat allowance you got there

>>995596
We aren't saying people should hoard like a motherfucker, we're saying that should be able to afford an emergency of career, finances, housing, etc.

Currently most cannot. One slip up puts them drastically behind and potentially homeless.

Gr8 b8 m8. I'll bite. It's a very decent wage for having no education or skills. And it will continue to go up, sadly the auto industry has this high ceiling now for top out wages. 8 years for 28 an hour is the norm in auto plants now. Used to be 6 months to top out.

Anyway there will always be someone richer than you or I. I'm happy with what I've got and that's all that matters. I'm perfectly content with being middle class

File: The lure of imaginary totality is momentarily frozen before the dialectic of desire hastens on within symbolic chains.jpg (60KB, 600x333px) Image search: [Google]

60KB, 600x333px

>>995604
I'm saying if everyone saved more we would just speed up going into a liquidity cirises. A monetary economy is fundamentally unstable and financialization just makes it more so. Eventually the whole house of cards will have to come crumbling down and production and distribution will have to be rationalized and the bourgeoisie will be liquidated in the process.

>>995614
>
so doesn't that suggest to you that perhaps if there were more saving, a crisis would happen sooner, which would mean it is smaller in scale, and people could weather it better? I don't see what's so hard about this, conceptually.

>tfw I have 10k in Bitcoin and will retire in 10 years.
Feels Goodman. It will feel good bragging it out in front of oldcels that didn't get it.

>>995627
More individuals saving is bad at a macro level, savings is only good at an individual level. If you save you're good but if every individual saves you're fucked.

Your savings are just one side of the balance sheet, to firms it shows up as interest bearing debt. More savings = more unpayable debt, and less consumption. Eventually people are going to want to cash out and then comes the massive inflation.

The only reason the West enjoys such high living standards today is because people can spend more then they actually earn.

>>995507
Did you have a question, or just getting your posting quota finished while Mom warms the hot pockets?

>>995634

>The only reason the West enjoys such high living standards today is because people can spend more then they actually earn.

And the reason why China is catching up is thanks to their savings and our debt.

>>995668
>And the reason why China is catching up is thanks to their savings and our debt.

China has less than $7k per capita GDP.

I think they are a long ways off.

>>995667
>Did you have a question, or just getting your posting quota finished while Mom warms the hot pockets?

>The neet is still here, posting about his own generation a day later

Do you even have any savings?

>millennials

Fuck that name. Millennials are entitled Twitter activists begging for free college tuition to pursue their degree in women's studies or Silicon Valley hipsters bouncing between failed tech startups.

The rest of us regular people born between 1980 and 2000 are Generation Y. Fuck Millennials.

File: Clipboard01.jpg (72KB, 740x251px) Image search: [Google]

72KB, 740x251px

>>995671
>>Do you even have any savings?
I have some, including my emergency fund. Why do you ask?

>>995678
>I have some, including my emergency fund. Why do you ask?

Nice fake image.

People don't store $70k in their savings and checking account so that it can get eaten away by inflation.

You are a NEET. You been posting about millennials for 2 days straight now. Don't you have a job or something? You spent an entire Friday night posting in this thread lmao

>>995507

Where did you find this statistic? Is it from bls.gov?

I'm trying to understand why our economy is struggling if there is arguably a job out there for everyone (disregarding qualifications).

File: 1376888179999.jpg (23KB, 325x385px) Image search: [Google]

23KB, 325x385px

>mfw being in the black doesn't even come close to me

File: Screenshot_2015-12-12-11-48-05-1.jpg (633KB, 1440x2560px) Image search: [Google]

633KB, 1440x2560px

Related it's me.

>>995429
Might as well say something as worthless and vague as "pull yourself by your bootstraps and make your own luck", it's as useless as what you've just said. I watched my dad start a business. It was not easy at all. On top of that, you have really shitty odds with a business, if you have luck you have a 70% chance of failing. 75% if you don't. I can go on about how saturated freelancing is, but considering how vague your worthless advice was, I'll just leave it at that.

File: Me.png (25KB, 810x455px) Image search: [Google]

25KB, 810x455px

> 25 years
> Accountant
> Broker account: 63.5K, bank account: 14.9K, total 78.4K
> Netherlands, so numbers are in EUR

>>994947
gotta INVEST money to make money

File: pepeing shiting on feels man.png (71KB, 720x960px) Image search: [Google]

71KB, 720x960px

>>995791
How does investment actually generate money? Investment can only be actualized into real concert monetary profit by sale of a product or service.

No spending = no profit = investment was a failure and you're now poorer in monetary terms then when you started.

>>995801
dumb frog poster

File: bank1.jpg (126KB, 796x544px) Image search: [Google]

126KB, 796x544px

what does that make me?

>>995818
Poorer than a uni student :^)

>>995824

shrug, what is your income though?

>>994754
>you'd see that how hard you work at your job/school DIRECTLY relates to how you eat that month and how much things you can buy

I don't know about you, but if I work my ass off or don't, I earn the same amount at my job. Even if I earned more, extra income isn't going to help my diet. I'm not living paycheck to paycheck like some dumbass.

>>994453
>part of the 22.9%
>feels good man

>>995676
So instead they should be stuck in a pit of debt with no ability to get marketable skills.

File: Br-zhugCIAEUw9f.jpg (31KB, 599x614px) Image search: [Google]

31KB, 599x614px

>>995678

Who keeps that kind of money in a checking and savings?

Now if you remove the 3 & 4, that's a little more believable.

>>995850

Segregation at its finest.

>$2200 checking
>$3000 savings
>$2000 IRA
>10k in loans

Net worth is 2800 in the red, but I am in the top 30% for savings. Feels OK man.

>>994962
It's part of your fucking screenshot. one pays .9%, one pays .6%.

About $1000 in savings, $100 that I'm using to play around with penny stocks.

>>995779
Go back to Reddit you pathetic faggot

>>995903
Or what?

>>994501
I'm old and on 4chan (in part) because it reminds me of calling dialup BBSes on my modem.

I do realize young people starting out in the last few years have had it rough. Still, ain't nothing else to do but suck it up and keep trying until something works.

>>995904
Your whiny shitposting fits in perfectly there

>bawwww starting a business is hard
>everyone fails!
>might as well just let Bernie pay for me and live as a NEET

>>995912
What, afraid of getting called out? Plus, what's wrong about free college? That you don't have a mountain of debt above you?

>>995918
I don't get how people want free college. Anything that is free is shit, that's why it's free.

>>995918
Figured - frogposting Reddit berniefag. I started my own business with no outside investment or debt - we now do $14mm/yr in under 5 years of existing. Get on my level faggot

>>995045
Boomers really fucked this country up and now they're throwing a tantrum that Xers/millenials can't wont fix it for them for free. What an entitled bunch of assholes; and the bootlickers sucking up to them are even worse because they're downright STUPID on top of being assholes.

>>995066
Let me translate some of that corporate boomer speak for you:
marketable skills = willing to work for free

>>995592
Your dad small loan of a million dollar doesn't count, senpai.

>>995929
I'm a millenial and I agree with that poster, people majored in stupid shit at low tier colleges while going into debt. Idiotic

>>995066
and if they didn't worry about student loans, they could go back to school and get marketable skills. Also >>995929.

>>995935
Maybe they should go to 2 year colleges which are nearly free in many states instead of thinking 4 year makes sense

>>995933
No, you blow the number of kids with stupid degrees completely out of proportion, just like when Reagan told us how the every small town had a billion welfare queens buying lobster every day and wiping their asses with the golden fleece. I bet you think underwater basket weaving is a real major too.

>>995937
That is a valid point, and people should do this at the current moment. But it should be free at the 4 year level, too.

>>995933
That's not the problem. Boomers majored in stupid shit as well. The problem is the unemployed/underemployed among youth in America. Its the highest since the depression. The key factor is the government raping the boomers saving to bailout the banks who in turn fired everyone and gave themselves raises.

>>995941
No I'm not at all

https://nces.ed.gov/fastfacts/display.asp?id=37

History is the second most popular college major. Seriously?

>>995951
No it shouldn't. It should be expensive as fuck to restrict it to those that are actually serious, not majoring in something retarded - also end student loans

>>995958
I don't know about that. I remember when computer science was hot and everybody had to get into STEM. And then boomer imported legions of curry soaked street shitters. Now it doesn't matter if you're actually good at programming because a steaming pile from these squatters is good enough for pointy headed management.

>>995958
Law school. Medical school. Doctorates, etc.

Also, your reasoning on why they should charge is unsound. Those who aren't serious get fucked over by debt and the inability to try again if/when they get serious and those who are serious are off to a great start, deep in debt.

>>995968
>Ignoring actual statistics

Compsci still pays highly for domestic graduates, because people realized that street shitters suck at problem solving.

Psychology, another top 5 useless major. How many social workers do we need?

>>995971
So you ignored the grad school stats I see.

>>995859

I feel ya brother.

>>995958
>https://nces.ed.gov/fastfacts/display.asp?id=37

>Of the 1,791,000 bachelor’s degrees conferred in 2011–12, the greatest numbers of degrees were conferred in the fields of business (367,000), social sciences and history (179,000), health professions and related programs (163,000), psychology (109,000), and education (106,000). At the master’s degree level, the greatest numbers of degrees were conferred in the fields of business (192,000) and education (178,000). At the doctor’s degree level, the greatest numbers of degrees were conferred in the fields of health professions and related programs (62,100), legal professions and studies (46,800), education (10,000), engineering (8,700), biological and biomedical sciences (7,900), psychology (5,900), and physical sciences and science technologies (5,400).
You should read your own fucking sources. Especially the first fucking PARAGRAPH. More people are majoring in business over "liberal arts" useless degree by twice the number of liberal arts. So kids aren't majoring in dumb shit. You need to stop listening to /pol/. They have a void where the brain is suppose to be.

File: image.gif (3MB, 240x234px) Image search: [Google]

3MB, 240x234px

>>995979
Business is a useless bachelors.

>thinking a bachelors in business means you have marketable skills

Lmao

>>995975
And you disregarded the fact that your proposal is just fucking over students, bad or good, with debt.

>>995982
Anything you can learn for free on the Internet, you shouldn't go to college for, especially if it means debt.

>>995973
Most tech companies fire their coders by the age of 30. This isn't a big secret to those who work in Corporate America. This is why no one goes to those companies, only weeaboos like /v/ and /g/ goes to those companies. Business grads who are capable go to VC firms. Comp Sci grads have the same problem as engineers. More than half never work in the field they studied. By the way half of all college graduates are underemployed.

>>995981
Bachelors in business admin. The concentration of accounting and finance falls under that major senpai. Its pretty obvious you never attended college.

>>995918

> free college

It isn't free you born again retard, it comes from those that pay taxes. Do you know who pays taxes? Workers and businesses pay taxes you cum dumpster. Why is it that difficult to know that your food stamps are paid for in part by your fellow workers. Are you really this ignorant to understand that nothing in this world comes free and that that does is taken from others? How incompetent are you in life to not understand that basic fundamentals?

Why can't you shills understand that if college is free, there wont be any competition to see who can push papers? Why hire a shill that got a high school diploma for free when you can hire someone with a bachelors for the same wage and actually paid to get ahead in life, probably has goals in life, and is able to function in normal society. If college was free, the same thing will just happen with what happened with high school diplomas. If everyone has a high school diploma, no one has a high school diploma.

File: image.jpg (87KB, 584x649px) Image search: [Google]

87KB, 584x649px

>>995986
Makes sense! Because over half of all college grads have garbage majors or degrees from shit tier colleges. A study showed that the majority of college grads were not able to think critically even. Why go to college?

>>995989
And I would bet you those two are a minority of business majors. And to the contrary, I have my bachelors in physics and MBA.

>>995986

> underemployed

Not suckin' enough dick.

>>995973
>>Ignoring actual statistics
>being against government yet believing government statistics
topkek

File: image.gif (1MB, 500x500px) Image search: [Google]

1MB, 500x500px

http://www.mcclatchydc.com/news/nation-world/national/article24608056.html

http://www.wsj.com/articles/test-finds-many-students-ill-prepared-to-enter-work-force-1421432744

Guess majoring in art history wasn't a good idea

>>995995
Who said I was anti-government? I'm anti-gibe me dats like the Berniefags in this thread

>>995992
General business is the biggest and then accounting, marketing, and finance. So they aren't a minority.
>BS in physics and MBA
Surreee.
>>995994
Not enough jobs.
>>995991
Nope. STEM/Business folk fall under that umbrella as well. This board literally swallow /pol/ load of toxic jizz and takes it as fact.

>>996001
Doubt me if you want but I know my educational background. General business is what percent? Post stats. Finance is clearly a minority too.

>>994453
Hey, some of us have legitimately gotten fucked over, mi familia.

http://www.pewresearch.org/fact-tank/2014/05/30/5-facts-about-todays-college-graduates/
>>996002
http://nces.ed.gov/programs/digest/d13/tables/dt13_322.10.asp

>>996009
That doesn't break down business degrees by focus nigga

>>996015
You can't. They fall under business. That's how they're recorded it.

>>996009
Actually your second link shows there are more "visual and performing arts" degrees than math, physical sciences, and computer degrees *combined*

Thanks for proving my point about shit majors.

>>996022
Avoiding engineering I see. You're just being retarded because everyone is telling you STEM shortage is a myth. Face it, you millennials got keked by your parents.

>>996026
If you add engineering to the STEM side,
then add psychology to the "kek shit" side, real majors are still behind

>>995694
>>995854
hey idiots
maximum IRA contribution is 5500 and 401k is per paycheck
passive, low cost investing is an effective strategy for an account with a time horizon of four decades
it would take a decade just to put in, for example, $60k

what the fuck am i going to put $60k of my cash into in a taxable account? whatever actively managed funds the middleman blowing smoke up my ass recommends? So he, the government, the investment bank, and everyone else can fuck me over?

there are no reasonable short term solutions for large sums of cash, it's better to just take the negligible hit of inflation in that short window than pay out a fucking dime to anyone

>>996001

> not enough jobs

If you knew someone that owned a biz, that's a job you have by asking. In order to know this person, you need to suck their dick.

If you knew someone that worked at a biz and they're willing to vouch for you, that's a job you have now by just sucking dick.

If you were fucking the bosses daughter, you now have a job by just sucking some vagina.

If you knew the HR director of a biz, you now have a job by sucking their dick.

America is still about who you know and not what you know, just have to suck the right dick or in some cases, the right vagina. But in your case, it's more or less ass you'll need to be sucking.

Now fuck off with that "no jobs" bullshit.

File: dumb.jpg (70KB, 1920x1080px) Image search: [Google]

70KB, 1920x1080px

>>996031

Sometimes I like to max out my 401k and IRA, put the remaining money in a brokerage account to trade on the stock exchange. I'll even withdraw it the next year to just max out my IRA again, but that's just me.

>>996031
>average US stock market return 7%
>average Vanguard expense ratio: 0.18%
>getting only 0.5% interest on a savings account is better than that

sure dude.

>>996032
What the fuck are you saying? That is one of the longest post in this thread and yet you didn't say shit. You should be a politician.

>>996051

At least I'll have a job.

>>995850
>marketable skills

They don't want that, their liberal parents taught them they were a special snowflake and should follow their dream of making a living drawing furry porn.

>>996038
if my retirement accounts are maxed year after year why risk it further with MORE stock funds?

>>996050
>average stock market return
>AVERAGE
>TIME AVERAGED RETURN
the purpose of a retirement account is to have money when you retire
what is the purpose of a brokerage account beyond giving the people I hate business and an easy target

>Milennials have the largest college debt to date
>are a generation which started entering the workforce during a recession

Is it really this great mystery why most of them can't save up anything? Their opening play is to deleverage themselves.

>>996051
Looks like he's saying that he loves to suck dick and so should everybody else.

>>996062

> why risk it

If you think it's a risk, you're doing it wrong.

File: giphy.gif (2MB, 350x194px) Image search: [Google]

2MB, 350x194px

>>996066

>>996065
It's hilarious that "experts" can't understand this and still think they're experts.

God damn, graduating in an inflationary recession and set back by a decade because of it, herp derp they must be stoopid libruls!

File: hmm.gif (1MB, 330x312px) Image search: [Google]

1MB, 330x312px

>tfw turned 21 today and have $17000 in the bank
>tfw have $9 an hour job and live in an expensive and shitty city
>tfw poor parents and minimum education

How did I do it

>>996070
The silver-lining in all of this is the aftermath will be an economy which millennials will thrive in. College graduates make 15k more than high school grads, and its expected to increase more. So college grads are going to be rolling in the money.

>>996031
Bonds do well in all but depression level recessions. The return is not as good, but it beats the hell out of any savings account.

>>996067
Investing is always a risk. You have to find a comfortable level of risk if choosing your investments.

Personally I would stay away from investing right now unless it is an employer match on a 401k or putting into an IRA to lower your tax liability. We are overdue for a recession. When we do go into another recession stocks will be on sale.

>>996084
Yeah, if the message future generations take away from it is to not even bother with college. But I'm skeptical because employers routinely display how little education matters to them. Frankly an Indian CS degree is worth about as much as an honorary Justice League membership cut out of a cereal box and the industry is overflowing with them all the same.

>Boomers gifted with a fantastic growing economy on a silver platter
>outsource the fuck out of jobs and import millions of immigrants to clutter up the labor pool
>overinflate the labor pool with diploma mill degrees
>hoard all of their saved cash and demand Social Security as well

Thanks a lot faggots

>>996087
>Personally I would stay away from investing right now unless it is an employer match on a 401k or putting into an IRA to lower your tax liability.
bingo

however, comfortable level of risk is not bonds when rates should being rising any day now

there is absolutely nothing more comfortable IMO than the highest rate savings you can find

and that's why people are faggots for pointing out individuals holding large amounts in cash

>>996087

> find a comfortable level of risk
> why risk it

Pick one.

>>995696
>Where did you find this statistic?
https://twitter.com/Vanguard_Group/status/675381052865683456

>>995926
>Boomers really fucked this country up and now they're throwing a tantrum that Xers/millenials can't wont fix it for them for free. What an entitled bunch of assholes; and the bootlickers sucking up to them are even worse because they're downright STUPID on top of being assholes.
Boomers don't want Millennials to fix anything. You have neither the wisdom nor the skills to do either.

Boomers want Millennials to grow the fuck up. Move out of your parent's houses. Save some money. Get a job. Be an adult instead of staying manbabbies long into your 20's and 30's.

Boomers didn't ruin America, but Millennials surely will if left unsupervised.

>>996065
>>Milennials have the largest college debt to date
Stop pretending that you're the first generation with debt. Gen X had hefty college bills too, and Boomers all had mortgages to pay. You just whine more.
>>are a generation which started entering the workforce during a recession
The "recession" lasted about 18 months tops. Job seekers:jobs are 1:1 currently. You faggots have it EASIER than any generation in history, and you're still fucking it up.

>>996087
>We are overdue for a recession.
There's no such thing, moron.

No wonder Millennials don't save. They have no fucking clue how the markets work.

>>996208
Have you seen the cost of housing in most major areas?
It's not something a 20 year old with at absolute best 4 years of entry-level job experience can afford, and Boomers are about 20% of all homeowners.

>>996219
>Stop pretending that you're the first generation with debt. Gen X had hefty college bills too, and Boomers all had mortgages to pay. You just whine more.

I believe adjusted for inflation no generation prior to Millennials has had as much debt for college education, so that argument isn't a fair one. Now is it wise to have 50k of debt for a Gender Studies degree? No.

But there are STEM fields where people still have a hard time getting employment; I've met architects that couldn't get a job in that field, especially post-'08. That crisis, mind you, was entirely the fault of Gen-X and Boomers.

As much shit as millennials get, there hasn't been time for any major economic crisis to come down to them; they've just had the inopportune timing to pop up when shit was going bad from the decisions of those before them. Hell, there's a fair chunk of millennials that haven't even voted in their first presidential election yet.

>>995694
>People don't store $70k in their savings and checking account so that it can get eaten away by inflation
6-12 months ordinary living expenses is pretty standard. I error on the safe side.

Surely you have an emergency fund too? What if your supply of hot pockets runs low?

>>996242
>shit was going bad
Citation needed. The recession was 18 months, tops. That's 1.5 graduating classes that came out in a bad time. The rest of you have had golden opportunities ... which you've squandered.

Instead of protesting about the "1%" maybe you should have been getting jobs?

>>996262
I honestly can't tell if you're shitposting or not.
1.5 graduating classes plus 6 years of students that were still in grade school between 2008 and now.

The hell sort of golden opportunity did a 12 year old have in 2008 or since?

>>996268
Millennials comprise, what, 20-24 graduating classes. 1.5 of those classes graduated in a recession. That means 18.5-22.5 classes graduated in strong labor markets, including all the recent classes.

>Don't accuse people of shitposting just because you don't understand the facts being explained to you.

>>996276
>Graduating = already well into your career with enough earnings to pay off your loans + mortgage on a home.

If we're counting the class of 2015 as the 24th class, we go back to '91.

So of the 24 classes, 17 would have been as affected as anyone else by the recession, but with less work experience and earnings as the older population.

The rest have from 1-7 years of post high school experience, and of those some have as many as 3 to as little as 1 year of post-college experience.

What are you expecting of these people? To be an economic powerhouse? Most of a person's major earning potential is not reached less than ten years into their professional lives.

>>996288
You're the one making excuses for the generation, claiming that Millennials had it soooooooooo tough. Which is demonstrably bullshit.

I'm not saying Millennials haven't faced challenges, some of them unique. But all generations face those challenges. So stop exaggerating the difficulties experienced by Millennials to excuse your poor financial wisdom and your lack of savings.

Grow up, and take responsibility for your own financial well-being. That's all we ask of every generation. Millennials are shitting the bed at even the basics.

>>996276
FYI, there were two major recessions in millenial's working period:

The first was when the dot-com bubble burst around '01-'02, that led to a couple years of people finding a new line of work.

The next was when the housing bubble burst in '08.

>>996221
hey faggot
we're not going to prop up your retirement fund by throwing money at stocks right before another bust

>>996208
>Move out of your parent's houses.
fuuuuuck that

>>996276
Early millennials were born in 1980. That means they were 18 in 1998, and graduated college in 2002. So 2002-2015 is 13 classes.

>>996242
> I've met architects that couldn't get a job in that field, especially post-'08. That crisis, mind you, was entirely the fault of Gen-X and Boomers.

That wasn't a crisis. Your buddy probably had sub-par credentials in some way, most likely a poor college GPA and a lack of useful experience.

Newsflash: Getting a STEM degree is not enough, you actually have to get good enough grades to know your shit when you apply for jobs and get interviews.

>>996299
> 2002.

No, the definition of 'millenial' is anyone who graduated high school in the new millenium or later, which is '01 (which corresponds to a birthday in late 1982 or 1983).

>>996297
>dot-com bubble burst
That one hurt Gen X way more than Millennials. Millennials wasn't even a word back then. You were still Gen Y.

>>996298
>throwing money at stocks
Another example of why Millennials are the worst generation ever. You guys just don;t get it, and show no signs of trying.

I feel reeeeaaallllly bad for your kids.

>>996299
Math fail. "DEFINITION of 'Millennial' A name given to the generation born between 1982 and 2004." That's 22 years, faggot.

Poor AND stupid is no way to get through life, kids.

>>996293
>You're the one making excuses for the generation, claiming that Millennials had it soooooooooo tough. Which is demonstrably bullshit.

I'm not saying that at all.
I'm saying expecting a bunch of 18-20-somethings to be full independent homeowners in a society that pushes "go to college" harder than any prior one while also making it more expensive than ever is a dumb thing to do.

If you're going to bitch and moan about millenials, at least wait until the remaining half of that generation is out of school and fully into their careers.

That's like bitching that kids born in 2000 are shitters because all they do is sit at home and ask for rides to the football game.

>>996308
>18-20-somethings
Huh? 63% of your generation is over 20.

>Honest question ... are you trying?

>>996312
>Being at least 20 means you're out of school and well into your career.

If the average person that went to some sort of tertiary education and has 5 years of postgraduate experience is 26, that means approximately 68% of millennials are at this point or below it.

That's not well into home-ownership. My parents actually just purchased their first home at 26.

So your expectations are unrealistic.

>>996321
Huh? I never said I expected Millennials to own homes or have millions saved by their mid-20's. Nice strawman.

But you know what would be nice? IF MORE THAN HALF OF YOU FAGGOTS COULD SAVE A COUPLE GRAND.

>>996307
> That one hurt Gen X way more than millenials

It hurt any millenial who decided to enter the workforce vice go to college, and there were a lot of people chasing the dream of hitting it big in the dot com market.

> Math fail

No, not a math fail. The term 'millenial' was coined for Gen Y precisely because it referred to the first generation who became adults (i.e. turned 18) in the 21st century. That would start at 1983, since 2000 is still the 20th century.

>>996327
>there were a lot of people chasing the dream of hitting it big in the dot com market.
And even more who lost their actual jobs, their actual savings, their actual homes, and the first 10 years of their actual productive lives. And they were in Gen X.

Jesus man, get some perspective.

>>995789

>EU chimes in Americas issues

>>996330
Do you think those same problems didn't affect Gen X in 2008 as well?

Jesus man get some perspective.

>>996338
>Do you think those same problems didn't affect Gen X in 2008 as well?
No. The dot-com bubble wiped out an entire industry in addition to the wild swings in the stock market.

Unless you were a subprime mortgage lender, your job, stock options, and 401k didn't suddenly disappear overnight in 2008.

>>996342
>Unless you were a subprime mortgage lender, your job, stock options, and 401k didn't suddenly disappear overnight in 2008.

[citation needed]

>>996305
That's the entire Gen Y.
>>996307
Millennial is 1980-1999 you dipshit. Stop acting like a huge flaming homo.

Holy shit you millennial NEET faggots are awful.

>muh checking account

Faggots

>>996349
http://www.investopedia.com/terms/m/millennial.asp
>#rekt

>yfw there are 83.5 million millennials.

>be 21
>only have 2500 dollar in savings

Fuck my life

File: 1421217561040.jpg (154KB, 1280x720px) Image search: [Google]

154KB, 1280x720px

>>994501

Why don't you go shove your assumptions up your fucking ass.

Oldfags represent

>>994827
>>994929
>>994933
>>994951
>tfw he spends 20k/month and has mad cash flow

>>994453
This is definitely "how much in your BANK SAVINGS" not net worth. Stupid click bait

>>994754
Agreed.

>>994639
>>996031
>>996062
anon has 10k in the 1% interest account, and 30k in the 0.6% account. It stretches credulity to think of a good reason for doing that and needing advice on /biz/. Which makes me also doubt he has so much cash just because he's worried about a Kondratiev cycle or some shit.

The purpose of a brokerage account can also be to have money when you retire. See, you can only put $5k into your IRA. This much will allow you to not starve to death in retirement. You also put another $10k(or a lot more) into your brokerage account. This will allow you to retire a rich bastard at 65, or retire to your bungalow and 20 year old girlfriend in Thailand when you are 40.

>>996391
oldfag here, >>995911, no debt, worked 10 years, made good wages, saved 60+% of my pretax income, retired at 33. Save your money kids.

>>996604
how good is good in your opinion for accomplishing that goal.

>>996610
Adjusted for inflation, I averaged about $65k/year. So I don't think that is outrageously high.

Two things that might make it hard for others. I had a 457 plan, so some of that easy pretax might not be available to you.

The harder part is living poor while all your friends are living large. You'll be very tempted, but stick to the budget and the plan! Do your own research, but I think(hope?!) an initial withdraw rate of 3% is reasonable.

And of course, to retire in your 30s, you'll have to move to a developing nation which is not without its hassles. Make sure you can handle that before moving out.

Hello I'm one of the idiot millenials who haven't started saving yet. I want to open a savings account but have no idea what to do. Should i go to a bank? A credit Union? Under the mattress?

>>996622
Go to the bank you have and tell them you want to open an Individual Retirement Account (IRA) and that within that account you want to put your money into an exchange traded fund (ETF). Your bank may even have its own "retirement" portfolio you can use. Start your first 5 - 10 years in an aggressive growth fund, then after a decade transfer over to a moderate risk growth fund, then eventually dump all your money into a fixed-income bond fund and get some ass. By this point you should have over $1 million in your retirement account.

Put a monthly deposit of money into the ETF for the next 25 - 30 years no matter what. You don't want to end up 60 years old still living pay check to pay check, waiting for your measily social security check to come in each month so you can buy bread and milk to not starve.

If you eventually get a hired on by a company that has a 401k, max out your contribution on that bitch as well.

>>996622
http://realdealretirement.com/how-to-build-a-1-million-ira/

>>996622
Consider your income, how much is going to be going into the bank, and your usual expenses.

I'd leave a month or so's expenses in a checking account, and start shunting the rest to savings, not to save, but just to symbolically set it aside for investment like

>>996661

suggests. Don't leave it mouldering in savings any longer than necessary.

>>996325
can you teach me how to save money? how does one do that?

>>995801
Stocks generate dividends. Real estate generates rent. Money generates interest.

>>996786
>Stocks generate dividends. Real estate generates rent. Money generates interest.
And appreciating assets go up in value. Historically, for almost a hundred years, the stock market has been an appreciating asset, and looks to remain so indefinitely.

I spent 3 years doing a zero-hour contract for shit pay and shit hours because nobody wanted to hire me over those 3 eyars, only recently got a job with an actual salary and no agency up my ass, holy shit how comfortable it is.

>all of the people I worked with were older than me, some almost twice and they still worked zero hour contracts for their daily living

Blame millennials all you want, everybody's fucked and it's only gonna get worse.

>>994754
> Actually that's pretty wrong.

Actually, what you said is pretty wrong. It isn't until very modern times (like, 1990-today) where anyone was expected to move out before they were married and ready to start a family. And if you go back to before the '60s or so, people would just live in multi-generational homes, which was necessary in part because the middle-aged generation actually took care of their parents in old age, too, instead of dumping them into expensive care facilities that are now funded by the taxpayers through medicare.

This whole 'you're an adult you should get out at 18' is a new fad started by late boomer/early Gen X parents who selfishly want to rid themselves of all parenting responsibilities and only want to play Grandparents on holidays and special occasions. Then they get mad at how selfish their children are when they get thrown into an elderly home to be given sponge baths by Shania and play bridge with a lady with Alzheimer's.

>>996858
>Blame millennials all you want, everybody's fucked and it's only gonna get worse.

>My life is shitty so everyone's life must be shitty too.

Millennial logic.

>>994827
Granted, he could just shift it to savings, but it's not like the interest rate matters all that much right now.

A person with a single family home, wife and two kids can see monthly expenses around $4-5k. Thus 6 months of expenses equates to $30,000.

>>995854
Lots of financial advisors will tell you to have 6-12 months of living expenses saved up. 12 months of living expenses can easily amount to $70,000. Maybe he's saving for a down payment on a house or some other big purchase.

>>996031
A 401k and IRA is not liquid. You can't touch that money until you are 59.5 without incurring large penalties.

Investing in index funds because 'muh long term average' because you know of nothing better to do with $70,000 is a stupid strategy. The market fluctuates too much in the short term to make that worthwhile in most cases, and that's not counting the fact that 100 * 1.07 * 1.07 =/= 100 * .93 * 1.14.

>>994754
>Millennials are the one generation that is significantly late to moving out/starting their adult life
Ahahahahahahahahahahahah this faggot doesn't even know about multi-generational homes. Get a load of this retard.

Moving out at 18 just because is an anomaly historically, internationally, and in the US.

File: 1449980774850.jpg (118KB, 1384x691px) Image search: [Google]

118KB, 1384x691px

>>994453
hmmmm

>>996202
>number of people claiming unemployment
>not the total number of unemployed
Gee I wonder what could be responsible for this statistic.

>>996604
but jiZZ,
why would anyone want to be rich when they are old
they leave it for their kids
but having kids is a shit idea and I'd never do it

as for retiring early, you'd have to have something to do with your life after that

>>996891
>Investing in index funds is a stupid strategy.
Yes, that's kind of the beauty of it. You can recommend it to your friends and family who have kids, jobs, and trouble calculating the tip at a restaurant. Then in 40 years they'll have at least something saved for retirement. Otherwise they'll never bother with the complicated thing you suggested, or spend all their money, or leave it in savings bonds or just give it to some con.

>>996912 (dang, just missed your post)
Well, I've never had much interest beyond computers and women. So working or retired I just spend my time dicking around on them.
But I didn't find retiring early that hard. And even if I don't accomplish much, it seems worth it to me to not have a boss telling what I should be doing 8 hours a day.

File: bizSpotsABoomer.webm (2MB, 1280x528px) Image search: [Google]

2MB, 1280x528px

>ship all manufacturing jobs overseas because it's cheaper
>import tens of millions of mexicans to take all the physical jobs requiring a local presence because it's cheaper
>import chinks and punjabs on visas to take the college jobs because it's cheaper
>why don't you millenials have a fucking job yet you lazy fucks
boomer logic at its finest.

>>996944
Where is this from?

File: 5f66600359ef.jpg (12KB, 264x198px) Image search: [Google]

12KB, 264x198px

>>996891
>The market fluctuates too much in the short term to make that worthwhile in most cases
exactly my point
so what are you to do in a taxable brokerage account?
buy up a bunch of actively managed bullshit, get taxed a shitload, lose the rest of the gains to fees, and set yourself up for the next crisis to fuck your shit up?

>>996927
sounds like financial independence is a lot nicer than early retirement 2bh, and that can be done without holding any securities, just have a high savings rate

>>997060
>Where is this from?
Straight outta his ass.

1:1 jobs to job seekers. One job for every person looking for a job in the U.S. of A. And you fuckers still can't get hired.

>>997082
>sounds like financial independence is a lot nicer than early retirement
I'm not sure what you are saying, I should start my own business? No, that is not better, not to me at least.

>can be done without holding any [equity] securities, just have a high savings rate
Um, yes I suppose, but are you really arguing it is best to get 1% in a savings account (which is still a [debt] security btw), when even the the worst time historically to invest in the S&P would get you 4% annualized. (plus a smarter person would hold small cap and emerging markets indexes)

>>997060
>>997240
I think they meant the movie, dead snow 2

>>997263
If you invested 30k in the S&Pin 2007 you would have just broken even in 2012-2014.

Index funds are not a guaranteed annual return. You are ignoring the stochastic fluctuations of the market.

>>995042
Hello, me.

>>997263
no do you know what financial independence is?
-you can continue to work as much as you want
-you won't live in constant fear of losing your job
-you're not kissing anyone's ass or working a minute over 40 because of this fear

and yes that's exactly what I'm saying
i don't see what you can put your cash into beyond a federally insured savings account when it's anything you plan on using in the next decade

File: 1435749624276.png (14KB, 333x293px) Image search: [Google]

14KB, 333x293px

>>995990
>neoclassical economics

>>997314
>If you invested 30k in the S&Pin 2007 you would have just broken even in 2012-2014.
And if you invested in 2008, you'd have a 200% return in the same time period.

Stop saying stupid things. No one puts all of their lifetime capital in the markets at the market bottom. You couldn't do it if you tried.

>>997374
I'm not saying anything dumb. I'm saying that there are substantial odds that you can lose money in index funds if your investment horizon is under 10 years.