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>CNN reported last week that 66 percent of millennials aged 21 to 32 have nothing saved for retirement
>"The idea that we millennials’ only hope for retirement is the end of capitalism or the end of the world is actually quite common sentiment among the millennial left."
>Elias Schwartzman, 29, a musician, told me. “When I'm at retirement age, around 2050, I think it's possible we'll have seen a breakdown of modern society.”
>Wood, 32, a political consultant, told me via Twitter that she felt similarly. “I don’t think the world can sustain capitalism for another decade,” she explained. “It’s socialism or bust. We will literally start having resource wars that will kill us all if we don’t accept that the free market will absolutely destroy us within our lifetime [if] we don’t start fighting its hegemony,” she added
>“Capitalism might still exist [in 2050], but I don’t expect people will be happy about it,” Jon Good, 34, a chocolatier and small business owner, said. “If [capitalism] is replaced [by then], my ideal economic model is one where all basic necessities are abundant and free, everyone works a few hours a week at the necessary chores of society like garbage collection and machine maintenance, then has the rest of their lives free to pursue whatever projects—be they art, leisure, or industry—that they desire.”
>Sarah Frasco, 26, a student, saw a gulf between her and the young people who even thought about things like retirement. “For the most part, the idea of retirement or how you plan for it is really the privilege of the few people my age who have access to that kind of security and stability,”
>Good agreed with Frasco that retirement savings plans were the domain of bourgeois millennials
>“Not only am I not saving for retirement, I have never had a serious job because I have thought capitalism would be fucked by [the time I retired] since I was a teenager,” Shannon Malloy, 31
Millennials aren’t saving for retirement
>the type of millennials the media wants to report on aren't saving for retirement
Ftfy
Reminder that Griffith did nothing wrong
they sound like robots, not gonna lie
Most are surviving paycheque to paycheque
Why the fuck would I put my savings in a bank. The interest they give doesnt even cover inflation, and then they turn around and loan every dollar I give them to ten different people.
This times 50 million.
Why should they?
They gonna get exterminated by robots anyways.
t. not a robot
At this rate anyone who is younger than 30 is looking to retire older than 70. I plan on being dead by that point, fuck being that old.
There might not even be a world to retire in, fuck that. There's not point in living past 65 anyway.
Student, political consultant, musician, chocolatier. Lmfao. Could they have found 4 more meme professions for these millenials. Of course they don't have money for retirement... They literally don't have real jobs.
Invest that money, foolish leaf
>all the kids got turned into nihilists
Yeah, saw this coming years ago. Thanks Al Gore, your invention destroyed a generation.
>be me
>Army ROTC to pay for engineering undergrad education
>Graduate with no debt except for service time owed
>Civil Engineer civilian career, ARNG military career
>90k/yr
>27 years old
>90k in Roth IRA account and Roth 401k with 2 retirements in the works
Millennials in the news are a meme
Going to see more and more articles like this as boomers continue to hit the retirement age with no savings aside from what inheritance they picked off the bones of their parents. My mother is already trying to get my sister to agree to letting her move in to retire, as she finds herself faced with the reality of how little Social Security (her primary retirement plan) will give her versus the actual modern cost of living.
>Elias Schwartzman, 29, a musician
>Sarah Frasco, 26, a student
>I have never had a serious job,Shannon Malloy, 31
How are you that old and still not realizing you need a marketable skill to make ends meet today? How are you 26 fucking years old and still a student? Who is supporting you without working, mom and dad? How are you 31 years old and you've never worked a real job what the actual fuck did you do from 20 - 29?
I was born at the ass end of gen-x, and why most Millennials don't have money saved for retirement was the crash of 2008, all the ones around my age lost a decade's worth of their 401k on top of losing their jobs . They blew through what little savings they might of had and couldn't' even borrow against their now nonexistent 401k.
Once they got a stable income again, they stopped taking out loans ,started buying used shit and living at the low end of the spectrum.
They lost trust in saving's and the system
It makes perfect sense why so many of them gave up on capitalism, as it's not real capitalism, they just don't see it's capitalism ruined by socialistic regulations
My parents kept me from working until I was 24. I started college, dropped out, worked minimum wage jobs, and now I'm finally doing vocational training for something I actually care about.
bad goy
At least you learned. I dropped out of school too, learned quick whats out there for a guy with no degree and no real marketable skills, worked a bunch of jobs for a few years and learned the hard way that you need to get your ass a degree (that's in demand) or you'll be working outside sweating your dick off for $16/hr the rest of your life.
they're not wrong.
technological advancements will push most people out of their shit-tier jobs leading to massive unemployment rates and attempts at reeducation
I'm 38 I have $12,000 in my 401k. I don't spend money. I even still live with my parents and make $80,000/year. My money just keeps getting sucked up by car issues, legal issues, taxes, market crashes, and ho's.
A house in my area would cost me more than 20 years of work where every penny I took home would go to a house fund.
We were supposed to be colonizing planets and establishing new frontiers for human growth and development
Instead we are baby sitting the violent brown hoards of the third world that don't even appreciate the efforts of state mandated bleeding hearts.
I'd rather be a hobo than support what's going on in this world
At the end of my 25 year career I will have over $7.9m (projected) in my 457. This is not including my state pension.
Life's good.
When you’ve been conditioned to believe there is no future, you don’t save for one
no disrespect but I thought I was the biggest fag in the world for finally moving out at 26, how are you even dating at almost 40 living your your parents? It was always a deal breaker for me, or else I would probably still be living with my dad.
They charge for every little thing, and if you don't want to pay it, these companies lobby the government to force you to pay them
We are serfs
I'm your age, have about 16k in RRSPs, and am in a worse housing situation. Out of curiosity, do you live on your own or are do you have roommates?
I lived with my parents, but they were old and needed 24 hour care and my sisters weren't going to help.
I wanted to put them in a nursing home, but it was cheaper and in the long run more profitable to just take care of them myself .
how the fuck can i when i spend half of my fucking income on rent, i cant participate in this economy.
All of my wages go to rent and food and bills. There's usually about 100 left as a buffer and sometimes I ask for help to pay the rest. What kind of economic system would you call one where I work for the city in a nonprofit organization to benefit underprivileged youth (or work as a teacher) and then most of the money I make goes directly back to the govt in taxes, to the grocery store in food, and to the people who own the land I eat shit and sleep on as rent? What kind of system is that Jow Forums ? :)
welcome to serfdom
>no disrespect but I thought I was the biggest fag in the world for finally moving out at 26,
Good goy. Keep giving the bank all your scheckles, or you'll never have sex with Stacy.
>retirement
any Millennial who thinks they will be able to retire is fucking retarded.
Boomerz, who are having difficulty themselves, are making sure to that.
They have literally handed future generations retirement to niggers and (((banking scum))).
If you disagree with me it is because you are one of the following:
>nigger
>(((banking scum)))
>Boomer goyim
>an actual retarded Millennial who would gladly die for Israel
t. a Millennial with a 401k
Just to clarify: These other Millennials who are literal retards who aren't saving fro retirement are not "in-the-know."
They haven't cracked the code to life.
But if you think that you ARE going to retire, you're fucking retarded.
>Millennials aren’t saving for retirement
Millennials won't have a fucking retirement. You're a fool if you plan for this. Invest and save but don't be dumb enough to lock funds up with a payout only when you reach retirement age.
Our entire system is headed toward a brick wall. The only question is if you'll be young enough to fight when it falls apart.
>I'm your age, have about 16k in RRSPs, and am in a worse housing situation. Out of curiosity, do you live on your own or are do you have roommates?
Actually I'm lucky. My parents made it rich in real estate so they let me stay in a 3 bedroom house on their multi family property. I live there all by myself.
muhamad gets it
>Could they have found 4 more meme professions for these millenials.
This is why:
>My parents kept me from working until I was 24. I started college, dropped out, worked minimum wage jobs
Combined with a whole generation sold the lie of "following your dreams". That's how you become a fucking chocolatier.
>kids aren't putting money away for retirement
>when it has been carefully explained numerous times that the current generation of kids will never get to retire, and if they did the government would take all of that money away regardless
At least as a serf I can surf the web... Hahahhaahahahaaaaah... Ha. No but seriously, can it be redesigned? Only question I have for all aspects of my personal life.
The answer to that question is in the device you use to surf. At the click of a button,as consumers, we demand ships be launched, planes be launched, and trucks start rolling to deliver whatever our heart thinks it can find online. Is that a process that should be redesigned Jow Forums?
No shit if I didn't care about getting laid I'd still live at home today but that is not an option with these girls, even though in the culture of my parents (italian) you stay at home till you get married.
It's not redesign, it's because civilization and the human race only works through continual expansion. We are stagnating, which will lead to the human races eventual extinction .
We need interstellar travel like yesterday ,unfortunately we have to many brown people we have to babysit and they are taking the whole human race down with them
Bye bye astronaut. I love earth and I'll look after it as best I can by learning about it.one day when I am useful,I will be proud of myself here on Earth.
I can't believe how retarded some people can be. A software developer I work with is 37 with negative net worth and lives paycheck to paycheck. I feel bad for telling him how retarded he is. Meanwhile I'm 26 with 140k almost all in tax free registered accounts. Get fucked poor millennials
Earth will be fine, it's the human race that will die brah
Then I will die too,and maybe in another form, I will be Happy. Until that die, I will try here to be happy as I am now, acknowledging and absorbing as much bitter truths as I can, so that if it is necessary, I can be useful.
>kill a great retirement system developed by people far smarter than the current idiots because communissmmmm reeeeeeeeee
>endup homeless when old
yet another great success
the truth is, you are failing your race if you aren't trying to expand it's reach
I'm not talking white pride shit, I'm talking about the whole race as a whole ,including the sub-races
>don't have skills because of massive health issues and depresssion and anxiety
>don't have drive to do anything
>don't have money
>father barely gives me cash
>can't get welfare because of living with parents
>acknowledge when my dad dies Im gonna be poor as fuck
>I still think socialism is not the good path
I wished people focused in improving health related stuff, being chartable and being more understanding about depression and anxiety. It drives me crazy hearing all this nonsense stuff about affirmative action, systematic racism and overthrowing capitalism and banning hate speech.
Was the retirement system based on happiness? Was it fair? Was it prior to the popularization of the internet? Could it be improved? Just what exactly was the retirement system and did it have any problems? Did people complain too much? Are there a lot of people who are depressed and anxious? Are there people who profit off making them more miserable? Can we make a better society together? Do people go outside anymore?
Of course they aren't. They don't teach you about this shit in school. These kids don't know anything about life because nobody tells them.
The reason kids' heads are filled with garbage like socialism and feminism and other horse shit is because that's what they teach kids about in school.
implementation of 401k's destroyed a good retirement system
Its hard to bother saving for retirement when paying off student loan debt is a priority since it cannot be discharged in bankruptcy. I mean sure if I could safely get +8% gains if I invested rather than pay down more than minimum it might be worth.. But as it stands now. Why bother when I can just triple or quadruple my monthly payment on student loans?
All I care about is whether and how something can be improved because the complaints physically hurt my heart. I see myself as someone who is good at anayzing and summarizing text but that function of mine is not as smart as programs that do the same. Therefore as a human the fact that I get physically hurt when I read so much chaos and confusion is my strength and trying to find the threads left after they've been rustled and set on fire and pissed on is sort of my duty. And if there's anything that links us all it's the internet we share. So basically my big idea was to have like a global database of haves and wants and have people input both into it and within their local area or across the world they could shuffle and trade up until they were satisfied. But I don't think that accounted for all the times people would get pissed or sick and tired or crazy at each other. So I've decided to stop trying to figure out the world's problems and have faith in individual houses, villages and countries now. And at the end of my life I hope the little atoms that make me body will be at peace and im excited to find out what will happen each morning. Anyways, what were we all talking about?
So what? I didn't save anything until I retired either.
Just make use of the young foreigner Africans and Middle Easters, they will benefit you in the long run.
There will be no retirement, Boomers have been huffing along on a dream and squandered it all.
I'm going to be honest here. NEET's, non stem graduates, people with no connections or bad social/networking skills....about 90% of you are not going to make it in this economy. All you little college kids with regular degrees, you better buckle the fuck up. Play time is over.
Seen a grown ass man with a kid that basically begged and cried for a $16/hr job. This isn't your fathers economy that's for damn sure. People are struggling to put food on the table. Good luck though LOL
>You work until you're almost dead and get 5 years of retirement for being a good little goyim.
I have 8.4695 bitcoin, this is my retirement.
Lol, millenial men are all single or divorced. Once our kids are out of school and on their own we all just plan to go out shooting up mosques or bombing niggers.
I plan to leave Cucknada since it is impossible to have a better tomorrow, tell me why I should save so later Dr. NGuyen with his assistant LaQueesha will take care of me while Jamal will feed me cold food and get a monthly (if lucky) bath by Pedro? Fuck retirement man! At this point ,buy gold, guns and ammo
This
>“It’s socialism or bust"
National Socialism is the only answer
>musician
>political consultant
>chocolatier
These are all fancy terms for unemployed
Idiots don't plan for the future, wonder why future is shit. More at 10.
I'm almost glad that people are forced to save for retirement here.
fpbp
Most Millennials aren't commie retards. They aren't saving for retirement because they can't afford to. Whether this is due to being fucked over or being a lazy shit will vary from individual.
Yes because they won't not steal my pension and my savings. Oh wait.
36, carpenter, £8000. crummy car, broken van.
>I'm almost glad that people are forced to save for retirement here.
fuck you. That's my money, I should get it and use it how I see fit. Invest it how I want. Not put it away for the government to spend (which they have)
They will have pensions so they don't need to save.
>They will have pensions
you sound autistic and boring lol
kek
and who will fund that shit? the kids they arent having?
>We will literally start having resource wars
Git gud bitch, been doing it for a while now
This.
I honestly don't have any fucking money. I am trying to cut back on everything. Food, going out. I even quit weed in spite of the insomnia.
I'm out of work, can't find any. I have a loan coming in about 3 weeks for school but I have to pay that back obviously. I am about 1000 bucks in the hole due to some shitty life stuff. My dad isn't even going to retire. He is 56 and is slowly dying from the damage his cancer treatment gave him. He had savings. Now its gone.
We are fucked unless we go to school, find ways to network with others and by building our own businesses. Its the only way to make money now. If you aren't in business your no capitalist you are a serf.
The idea is good, execution not so much. It is possible to manage your own super, but from what I hear it's more trouble than it's worth.
>When you see failure in the future, but don't realise it's personal not societal
>pensions
Fucking retarded boomers and their idyllic handout bullshit. This concept needs to die. People need to automatically assume they'll have to support themselves until death.
>Civil Engineer
Hopefully your not complete ass like all other civil engineers. So few have any experience at the physical end of things.
No, you need to look after your family so when you are an old man/woman your kids will take care of you and you can babysit their kids.
Why plan for a future that doesn't exist? No point to being wise when the ship is sinking. Live for today and fix your problems the fast way even if you have to pay later. It may be your only chance.
Seriously dude, get a trade. We're going to need shit tons of this in the future after the war. Plumbing, electrical, carpentry.
After the war, we aren't going to have much use for soyboy programmers.
Naive leftists.
The see the fault in Capitalism (Which it definetly has) and they think the most well known alternative (Socialism/Communism) would actually work.
The truth of the matter is that Capitalism slowly drains the wealth of the people , but Communism drains the wealth of the people and their freedoms in an instant.
We need an alternative , but it won't matter aslong the world is ran by kikes.
I’m a financial advisor and the media should be reporting on the number of people over 32 that don’t have any retirement. I expect most people in their 20s to not have jack shit, but when you’re 45 and you just started saving good luck trying to retire
Retirement is a stupid and failed concept to begin with. I've seen what retirement does to people, I want no part of it. I just did a job for a couple in their 80's running a seasonal bed and breakfast. They're setting generations of their family up for success and they're active. Much better off than my dad whose been sitting on a chair for 20 years and can barely move or even think because he "retired." Retirement killed him he's just not gone yet. He would've been much better off working, even if he didn't need the money (which he doesn't).
I will just kill myself when i start to lose my mind due to age.
I'll aknowledge that i'm a burden to the clan and will go out having lived a good life with my memories intact.
>$7.9million
>Adusted for inflation
> $79,ooo.oo
Sounds about right.
70 isnt that old you can still do ahit by taking pills. Now 80+, that's pretty old to have fun. I'm gonna shoot up a buncha h or whatever when I hit 82 and die high.
>fast food place offers a 401k
>TOS and EULA pretty much guarentee I'm not going to get the money if someone fuckin sneezes near it
>takes a couple bucks out of my check
How air tight are these things, or is it just one big scam?
Im saving for retirement. I put 10% of my paycheck into retirement
That said though, Im nervous. Part of me feels like it wont even be there when Im old enough
>not real capitalism
yeah it was over-regulation that caused the crash. East shit you fucking retard.
>kill your friends and become a god
I'd do it
That... that's not how any of that works... But you're lying on the internet so whatever.
>$32k shitty job
>was 9k in debt
Exactly a year from now after my tax return I have 8k in the bank. I wish I made 60k
>"Save for retirement!"
>pay more than 70% of your income to rent
>food prices are bananas
>utilities are astronomical
>inflation makes each dollar worth less every week
>everyone and their mother wants your money and will get it through means fair and foul
>democrat policy is to seize whatever is left to give to niggers and muzzies
At least we're not the only ones waiting on the Apocalypse, but we're the only ones trying to kickstart it.
>That said though, Im nervous. Part of me feels like it wont even be there when Im old enough
It very likely won't if you're depending on the banks to actually hold your money. At the very least, find something solid and tangible to invest in that holds actual value to hold onto, aka an asset.
Fuck man I put myself through a 4 year IT degree working in warehouses and construction exclusively. I picked IT because I hate busting my ass for less than 20 bucks an hour. What trade lets me get comfy?
