User Tag List

+ Reply to Thread
Results 1 to 6 of 6

Thread: More than half of Millennials expect to be millionaires according to new study

  1. #1
    Original Ranter
    Points: 859,106, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 89.0%
    Achievements:
    SocialCreated Album picturesOverdrive50000 Experience PointsVeteran
    Awards:
    Posting Award
    Peter1469's Avatar Advisor
    Karma
    496580
    Join Date
    Jun 2011
    Location
    NOVA
    Posts
    241,694
    Points
    859,106
    Level
    100
    Thanks Given
    153,222
    Thanked 147,590x in 94,419 Posts
    Mentioned
    2552 Post(s)
    Tagged
    0 Thread(s)

    More than half of Millennials expect to be millionaires according to new study

    More than half of Millennials expect to be millionaires according to new study

    This study is very disturbing. It covers a lot of expectations in addition to fiscal stability of Millennials. They are generally in a lot of debt, they have no plans of saving for retirement until they are in the mid-30s. And yet they think they will be millionaires at some point?

    • New study finds that 53% of Millennials believe they will one day be millionaires
    • Despite that, 25% say they'll never marry and 30% plan on never having children
    • Nearly 1-in-5 report that they they still rely on their parents for financial support
    • They expect to retire at 56, though won't start saving for retirement until age 36
    Millennials expect to make it big some day, with more than half reporting that they believe they will eventually become millionaires, according to a new study.

    Despite having crushing student loans (20 percent never expect to pay them off), credit card and other debt, people born between 1982 and 2000 share a confidence when it comes to their financial outlook.


    'Young people are optimistic about the future,' said JJ Kinahan, chief strategist for TD Ameritrade, in a statement on the company's new report. 'On average, survey respondents expect to land a job in their chosen field and be completely financially independent by age 25.'
    ΜOΛΩΝ ΛΑΒΕ


  2. #2
    Points: 92,612, Level: 74
    Level completed: 15%, Points required for next Level: 2,138
    Overall activity: 3.0%
    Achievements:
    Social50000 Experience PointsVeteran
    Common Sense's Avatar Senior Member
    Karma
    931196
    Join Date
    Apr 2014
    Posts
    41,841
    Points
    92,612
    Level
    74
    Thanks Given
    14,236
    Thanked 16,117x in 11,350 Posts
    Mentioned
    544 Post(s)
    Tagged
    0 Thread(s)
    Kids have always had unrealistic expectations and great expectations.

    ...at least they're optimistic.

    A million dollars isn't what it used to be. In 25 years it will probably be even less so.

  3. #3
    Points: 174,797, Level: 99
    Level completed: 29%, Points required for next Level: 2,853
    Overall activity: 23.0%
    Achievements:
    SocialVeteranTagger First Class50000 Experience Points
    Dr. Who's Avatar Advisor
    Karma
    870672
    Join Date
    Jan 2013
    Location
    Gallifrey
    Posts
    69,104
    Points
    174,797
    Level
    99
    Thanks Given
    12,830
    Thanked 12,935x in 8,813 Posts
    Mentioned
    206 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Peter1469 View Post
    More than half of Millennials expect to be millionaires according to new study

    This study is very disturbing. It covers a lot of expectations in addition to fiscal stability of Millennials. They are generally in a lot of debt, they have no plans of saving for retirement until they are in the mid-30s. And yet they think they will be millionaires at some point?
    This is the very sense of entitlement that I keep talking about. They have been raised to believe that they don't have to really go out of their way to succeed and they deserve promotions for just showing up. Furthermore, people from Gen X and the Boomer era attribute greater intelligence to them simply because they seem to be more facile with computers than their elders. What they are really good at is social media and texting. Worse still they have short attention spans and no sense that they are not being paid to communicate with their friends. Technologically, I run circles around most of them other than the IT types and I have no formal training in that respect and I'm old enough to be a grandparent to many of them. This is the era of the emperor's new clothes.
    Last edited by Dr. Who; 06-13-2018 at 11:12 PM.
    In quoting my post, you affirm and agree that you have not been goaded, provoked, emotionally manipulated or otherwise coerced into responding.



    "The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
    Mahatma Gandhi

  4. #4
    Original Ranter
    Points: 859,106, Level: 100
    Level completed: 0%, Points required for next Level: 0
    Overall activity: 89.0%
    Achievements:
    SocialCreated Album picturesOverdrive50000 Experience PointsVeteran
    Awards:
    Posting Award
    Peter1469's Avatar Advisor
    Karma
    496580
    Join Date
    Jun 2011
    Location
    NOVA
    Posts
    241,694
    Points
    859,106
    Level
    100
    Thanks Given
    153,222
    Thanked 147,590x in 94,419 Posts
    Mentioned
    2552 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Common Sense View Post
    Kids have always had unrealistic expectations and great expectations.

    ...at least they're optimistic.

    A million dollars isn't what it used to be. In 25 years it will probably be even less so.
    In this case it isn't about the value of a dollar. It is about a generation is massive debt believing they will be millionaires. They likely will die in debt instead.
    ΜOΛΩΝ ΛΑΒΕ


  5. #5
    Points: 92,612, Level: 74
    Level completed: 15%, Points required for next Level: 2,138
    Overall activity: 3.0%
    Achievements:
    Social50000 Experience PointsVeteran
    Common Sense's Avatar Senior Member
    Karma
    931196
    Join Date
    Apr 2014
    Posts
    41,841
    Points
    92,612
    Level
    74
    Thanks Given
    14,236
    Thanked 16,117x in 11,350 Posts
    Mentioned
    544 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Dr. Who View Post
    This is the very sense of entitlement that I keep talking about. They have been raised to believe that they don't have to really go out of their way to succeed and they deserve promotions for just showing up.
    I think that's true for a segment, but I also think much of the criticism levelled at today's youth is overblown. Not to mention complaining about "kids these days" isn't exactly new.

  6. #6
    Points: 174,797, Level: 99
    Level completed: 29%, Points required for next Level: 2,853
    Overall activity: 23.0%
    Achievements:
    SocialVeteranTagger First Class50000 Experience Points
    Dr. Who's Avatar Advisor
    Karma
    870672
    Join Date
    Jan 2013
    Location
    Gallifrey
    Posts
    69,104
    Points
    174,797
    Level
    99
    Thanks Given
    12,830
    Thanked 12,935x in 8,813 Posts
    Mentioned
    206 Post(s)
    Tagged
    0 Thread(s)
    Quote Originally Posted by Common Sense View Post
    I think that's true for a segment, but I also think much of the criticism levelled at today's youth is overblown. Not to mention complaining about "kids these days" isn't exactly new.
    I understand that every older generation looks at the kids with a jaded eye. However, with few exceptions, I just don't see the same work ethic in millennials. They are very much the 'me' generation. Perhaps I should qualify that to say that kids raised without any real responsibilities and a great deal of indulgence bring that attitude with them into their adult lives and there are a lot of them.
    In quoting my post, you affirm and agree that you have not been goaded, provoked, emotionally manipulated or otherwise coerced into responding.



    "The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
    Mahatma Gandhi

+ Reply to Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts