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

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    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.'
    Alea iacta est

    Check out the blog.


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    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.

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    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; 06-14-2018 at 12:12 AM.
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    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.
    Alea iacta est

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    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.

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