Can someone explain to me why the fuck millennials are not saving up for retirement?

Can someone explain to me why the fuck millennials are not saving up for retirement?

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>rank how much people have saved for retirement
>the younger people who have been working for less of their lives and are further away from retirement and are living in an increasingly expensive world have less money saved
funny that

We fell for the collage meme seeking a liberal arts degree. Only to be stuck with thousands of student loans they we won't pay off until our mid 30s.

I'ts elementary..

Because we're fucking poor.

because it costs more to rent 1/3 an apartment than it was to mortgage a house for the boomers at the same age

They're fucking retarded is why. Always plan to have enough saved away to live comfortably until at LEAST 90 years of age. The best way to start is when you're young with few family expenses.

>Record unemployment and underemployment
>MUH STATS SAY MILLENIALS DONT SAVE WHAT THE FUCK?
Lol we're living in Great Depression era poverty and your shitting on about 'savings'?

Typical Leaf out of touch

what money do we have to save

...

Inflation. You need to convert to gold, but it's the jews yet again that control the gold.

>implying complete social and economic collapse doesn't occur before millennials reach retirement age

Hope you can trade those 401(k) statements for canned food.

Watch this: youtube.com/watch?v=vwO2hEO13iY

The whole series is excellent.

FPBP to me. This entire thing makes no sense. How can you compare the total savings of someone at the end of their life to someone at the beginning?

Because we're not stupid?

welp

It's like the older you get the more money you have and your savings are bigger.

Because the only way to ACCURATELY judge this is to show figures when GEN X and Bommers where 18~35

because every workplace is too hostile and oppressive

not enough safe spaces

feelings

EARLY REPLY

KEK

nice waste of quints asshole

Because they'd rather pay what little disposable income they have on the newest iPhone model.

checked

This guy has disgraced Kek with his shitty get

KEK'S WRATH WILL BE BROUGHT UPON YOU

younger people have not had as long to save money, news at 11

that graph clearly represents the younger generation not working as hard. Why else would they have less earnings? ¯\_(ツ)_/¯

wasted

mfw I have 100k saved but I live in an extremely expensive city and still live at home

>18 year olds have less money than 35 year olds

what i hate democracy now

see

>55+
>28% Still have 0 retirement savings

That statistic seems much more damning than having 0 retirement savings while you're 18-34.

>still live at home
opinion disregarded.

good job tho user. invest those sheckels

Cause many of us are poor and can't afford to put money aside for retirement.

fpbp

Rent 1500
Lunch 13

How do I save moni

Cause the only 'reasonable' way to save is through your workplace. Incredibly hard to get a job without a college degree that will match you on a decent 401k.

>Lunch 13
pack your lunch.

>$300 extra per mo, $3600/ year

They've seen their parents retirement funds get robbed too many times.

This is what "saving for retirement" looks like, now.

Most publicly educated Americans don't think this way. Most know nothing about money.

They have to worry about tens of thousands of debt.

keynesian economics and central banking policies have completely fucked future generations

why even save money when we when literally have NEGATIVE interest rates in some parts of the world, our economic system is a giant experiment and children are the guinea pigs

buy gold

what is inflation

I have $16 in my retirement account
>tfw you're not the biggest piece of shit on the chart, even if you're close
>tfw no face
Life's good

>$300
wow it's fucking nothing

>why do 18-34 year olds have less saved than boomers

seriously leaf? Not to mention the more shocking thought that 25% of boomers have practically nothing saved.

I have also read that proportionally millennials are saving much more than older generations.

Because we expect the government to take care of us forever. As a leaf you should know all about this.

Obama's government is taking our money anyways. What's the point in working hard and saving money when the big brother gov is just gonna end up taking most of it?

i figure if i start buying tickets now i'll just win the lottery by the time im ready to retire

its simple really

also this

2008 left a very sour taste in everyones mouth, its mind boggling to watch bloomberg/cbnc and see these kikes debate why millennials have no interest or understand of finance, what did they fucking expect

Because we won't be retiring. We'll be working until we're dead to pay for third world immigration.

>well over half funding a roth
>nothing

stay poor fgt

What retirement?

Underfunded insurance program. Completely unreliable in the event it's actually needed.

how does retirement even fucking work? dont you need like a two million saved to live decently after 60 something?

It's hard to save money when you're lazy jobless ass is living in your Mom's basement or at best working at McDonald's to make drug money. For the most part millennials are just retarded.

>compares the savings of people who have 40-50 years working with people that have 5 years working
wow, not shit fuckers.

How the fuck can they save for retirement when they're still paying off their obscene college debts?

Debt

Someone who has work for 35 years longer has more money, wowee who'd of thought!

Hard to save for retirement when most retarded millennials spend $80k on college then waste their money traveling to europe

I'm in the dark blue. I have a little over 50k in my 401k right now. But I don't save much actual money.

This chart just goes to show that we need to start killing off seniors and redistributing the wealth to the younger generations so they can buy hookers and blow.

THIS, combined with the 17% with less than 10K savings means at least 45% of the people actually approaching retirement din't have savings they can live on,, although Social Security, 401ks and financial and property 'nest eggs' help that somewhat.

All of you with a job need to open an IRA with your bank and start automatically depositing as much of your paycheck as you're able and willing to into it each month.

Boomer here, I admittedly don't have much saved up ($20,000 + pension) but I at least have some nice assets and investments in the stock market. I know Canadian bucks are essentially worthless but I refuse to work until my death in a wheelchair.

ballpark 4-5% of gross savings can be withdrawn per year. add social security.

1mm yields 40-50k ann income, 35k conservatively. add in social security.

what good is your money when your dead, RaHoWa is around the corner mind as well live it up before fighting for the cause!

Saving early is the single most important thing you can do financially. Like it or not, the compound interest jew rules the world. Millennials took out bad loans for bad degrees, live in high rent city apartments, they gotta have that new iPhone, and if they have enough left over to buy/park a car in the faggy city apartment they refuse to buy a junker a fix it. Every penny until they are 40 goes to "improving" lifestyle instead of saving and they will all work until they are 80 and continue to blame everyone else but themselves. If anyone suggests they cut back spending and start saving they say, "BUT I HAVE TO LIVE MUH LIVE IN THE PRESENT."

>tfw $150k savings, $50k checking, $60k equity in home, no dept from working through EE degree and only 27 and most of it is due to investing at every penny I had during the 2008 stock dip and making %20 return for 8 years running

Retirement lol. The millennials will never get a chance to retire.

>be millennial
>save up for retirement
>bank takes a cut
>gov't takes a cut
>the longer it sits in an account, the more it depreciates
>think about buying a house
>then realize the Chinese and retirees willing to pay high prices have bumped up the average cost of a house to $800,000.
>think about investing in places outside of a bank
>stocks are risky but the best way to go
>despite this, most millennials are too stupid / afraid to trade stocks
>get depressed because you're still living with your parents
>decide "fuck it" and go out and spend the money on booze / food
>live the rest of your meaningless life like a careless beast, grazing on government welfare
I hate millennials as much as the next guy, but can you really blame them?

The cost of living is up and there are less jobs.

...

no faith in the banks
they have literally no legal obligation to give me back any money i give them

rather spend it on drugs whores and rent anyway
not going to lower my quality of life now on the off chance savings pan out and the world doesnt end

This. Only I want my wheelchair gold-plated.

there is no retirement for millennials, confirmed.

Thats bretty gud, although those investments could have gone the wrong way. Im 25 and Ive recently got into a position where I can comfortably put away at least $1000 a fortnight, going to invest in property.

>aussie
>not taking advantage of your ridiculously good super scheme

wagecuck confirmed

Also I somewhat disagree on the anti-living in the now sentiment. No matter what you are going to die so you still need to enjoy your life and have special moments with those you love.

How in gods name do 4.9% of millennials have over 300k saved up?! Even if a 34 year old was puting away 10k a year since they were 21 with a 10% return they would only have ~245k.

in australia they just increase the age you can get super every year, so nobody can get it and the government ends up with the money.

super is just your savings anyway.

inheritance duh or trust fund babbies

>Implying civilization will last that long

top kek

any millennial with half a brain is stocking up on guns and oil, then blowing the rest of their dough on parties.

Because my parents are old, and because I want to die early.

The number of boomers with no savings is far more concerning than the numbers of under-30's with no savings frankly.

probably because i cant even get a fucken job.

sketchy stock and ESOP options.

>your stock is work $10/sh
>whoops we're not getting series c
>.10c/sh

Chinese trust fund babies.

Also, children of public sector workers.

Wealthy parents, living or dead.

who the fuck has 300k in the bank at 18?

im curly so behind because of lack of money i contemplate suicide just to relieve the debt i continue to fall into with no hope of escape

Might be a good idea on the property. I've been looking into that too but I'm worried. The US indexes for housing prices are like 75% of the way back up to the crash levels so I'm might wait until another crash and abuse the poor.

People in wealthy families.

Because they're just entering their careers. Duh. Either they're still in college and don't have full-time jobs yet, or they're just starting out at entry-level shit-tier jobs and don't make a big enough salary to devote a large chunk of it to savings.

Someone with multi-millionaire or billionaire parents who name them in the family trust.

>family trust.
not how trusts work friend.

The fact that 60% of millennials have at least something saved when they're under 35 is really good, that shows financial savvy

By contrast 28% of people over 55 have absolutely nothing, and 60% have completely insufficient savings, shows how incredibly poor these people managed their finances. They have no time left to accumulate savings, they're at the point in their life where they start to need the savings.

Why the fuck do you have $50k in cash?

Because they know they will destroy america before they can make use of them

In order to save you need disposable income. Wages under Obama are stagnate..

I wonder why someone that is 22 years old and has been working for between 6 and 0 years doesn't have 300k saved while someone that is 55 and has over 30 years of work has zero saved.

Speak for yourself, I saved/invested enough to retire at this point.

Why the long face?

>By contrast 28% of people over 55 have absolutely nothing, and 60% have completely insufficient savings, shows how incredibly poor these people managed their finances. They have no time left to accumulate savings, they're at the point in their life where they start to need the savings.

they're simply working until they die. No one's retiring before 65 with healthcare costs as is.

there's no retirement plan b/c retirement isn't planned.