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(Yahoo)   Clearly, this will work out well   (ca.news.yahoo.com) divider line
    More: Fail, Investment, Money, Saving, Savings account, Anxiety, Hannah Jones, financial consequences, Schuyler Wagner  
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1937 clicks; posted to Business » on 22 May 2022 at 5:45 AM (11 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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View Voting Results: Smartest and Funniest
 
2022-05-22 1:41:03 AM  
The Grass Roots - Let's Live For Today
Youtube 5lRWXHomzF0
 
2022-05-22 4:32:31 AM  
Honestly, I can't say I blame them. I turn 40 this year, make pretty damn good money -- probably around $200k next year if I had to guess -- and I don't save nearly what I "should" based on my income. I put enough aside to scrape by in my old age it comes to that, but no more. The world is going to shiat with no signs of it improving... Why not enjoy it while I have it?
 
2022-05-22 6:30:24 AM  
save for retirement? Meh

Save for oh shiat? Yes
 
2022-05-22 6:36:18 AM  
This will be the fourth or fifth time I've lost half my savings, so I kind of see it. I still don't want to be old and poor.
 
2022-05-22 6:54:16 AM  
With the state of things a lot of us don't make enough to build any substantial wealth (buy a house? Lol!), it's highly questionable how much whatever we do manage to put away for retirement is even going to be worth at that point, our money has been on fire since we started earning, soo yeah, might as well get some living done while we can.
 
2022-05-22 7:04:46 AM  
We're all going to die anyway so be smarter than everyone else and die now.
 
2022-05-22 7:20:14 AM  
Good luck with dying early. We all thought we'd be dead before we were 25. These days, I like having money more than I like spending money.
 
2022-05-22 7:23:00 AM  
I'm not worried at all; I know how this ends.

10 years from now, when the world isnt a mess anymore and this generation is in their 40s, they'll still be here on Fark biatching about how society needs to bail them out of the bad decisions they made when they were in their 30s, just like they're here on Fark today biatching about how society needs to bail them out of the bad decisions they made a decade ago when they were in their 20s.

Its the circle of life...

/ok boomer
 
2022-05-22 7:38:24 AM  

Dick Gozinya: I'm not worried at all; I know how this ends.

10 years from now, when the world isnt a mess anymore and this generation is in their 40s, they'll still be here on Fark biatching about how society needs to bail them out of the bad decisions they made when they were in their 30s, just like they're here on Fark today biatching about how society needs to bail them out of the bad decisions they made a decade ago when they were in their 20s.

Its the circle of life...

/ok boomer


In 10 years Fark will fold under as half the userbase reaches 70. I dont think all 5 of us under 40s who come here can keep paying Drew's bar tab.
 
2022-05-22 7:57:44 AM  
Well they've been warned, haven't they? Did somebody warn them?
 
2022-05-22 8:10:07 AM  

Dick Gozinya: I'm not worried at all; I know how this ends.

10 years from now, when the world isnt a mess anymore


Stoppedreadingthere.jpg
 
2022-05-22 8:22:12 AM  

Dear Jerk: Good luck with dying early. We all thought we'd be dead before we were 25. These days, I like having money more than I like spending money.


Pretty much yeah. Tomorrow is going to come whether you're ready for it or not. Don't come crying to us when it arrives, grasshopper.
 
2022-05-22 9:17:14 AM  

Rapmaster2000: We're all going to die anyway so be smarter than everyone else and die now.


I love you a little more each passing day
 
2022-05-22 9:20:37 AM  
Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.
 
2022-05-22 9:27:36 AM  

Dear Jerk: Good luck with dying early. We all thought we'd be dead before we were 25.


This. Apparently all that environmental pollution, hole in the ozone layer, nuclear war with the Soviet Union, middle east unrest, and Niiiiiiiiiiiiiiiccccccaraguan death squads didn't actually kill us all in the '70s and '80s. Oh, wait, people got together and fixed a bunch of those problems. A shame that could never possibly happen again.

These days, I like having money more than I like spending money.

Money is security, freedom, and a good night's sleep, but everyone needs to find their own balance between spending like they'll die tomorrow and saving like they'll live to 100.
 
2022-05-22 9:49:56 AM  

Random Celebrity Insult Generator: Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.


or just a liar
 
2022-05-22 9:53:06 AM  
Say what you will about financial nihilism but at least it's an ethos
 
2022-05-22 9:56:02 AM  

Random Celebrity Insult Generator: Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.


I don't know what the median US income is, but I don't think I know more than a handful of people who could afford to put away 12k, let alone 25k a year.
 
2022-05-22 10:54:41 AM  

lifeslammer: save for retirement? Meh

Save for oh shiat? Yes


Yeah, I've given up on the idea of retirement & am instead focused on saving for emergencies. (considering how hospitals love to charge for every little thing that goes on inside their doors, even going in for a regular checkup is costly)

That quaint little fantasy about a white picket fence & all that shiat went out the window once the U.S. got involved in two wars simultaneously, a recession in 2008, and then the increasing reliance on catering to stupid angry racists for votes.
 
2022-05-22 11:24:29 AM  

A Room Full of Angry Raccoons: lifeslammer: save for retirement? Meh

Save for oh shiat? Yes

Yeah, I've given up on the idea of retirement & am instead focused on saving for emergencies. (considering how hospitals love to charge for every little thing that goes on inside their doors, even going in for a regular checkup is costly)

That quaint little fantasy about a white picket fence & all that shiat went out the window once the U.S. got involved in two wars simultaneously, a recession in 2008, and then the increasing reliance on catering to stupid angry racists for votes.


Once billionaires realized they could get broke hillbillies to vote for their interests over their own if they just yelled at them about minorities and immigrants and queers, it was all over.
 
2022-05-22 11:47:12 AM  

jso2897: A Room Full of Angry Raccoons: lifeslammer: save for retirement? Meh

Save for oh shiat? Yes

Yeah, I've given up on the idea of retirement & am instead focused on saving for emergencies. (considering how hospitals love to charge for every little thing that goes on inside their doors, even going in for a regular checkup is costly)

That quaint little fantasy about a white picket fence & all that shiat went out the window once the U.S. got involved in two wars simultaneously, a recession in 2008, and then the increasing reliance on catering to stupid angry racists for votes.

Once billionaires realized they could get broke hillbillies to vote for their interests over their own if they just yelled at them about minorities and immigrants and queers, it was all over.


The Money never forgave FDR for the New Deal and has been systematically returning the USA to a new gilded age for the past 50+ years.

Bigots have been a useful pawn to that end as they never forgave the civil rights movement and will happily support The Money as long as in return they get to control and punish anyone who isn't white, straight, Christian, and male.
 
2022-05-22 12:01:26 PM  

Fear the Clam: Dear Jerk: Good luck with dying early. We all thought we'd be dead before we were 25.

This. Apparently all that environmental pollution, hole in the ozone layer, nuclear war with the Soviet Union, middle east unrest, and Niiiiiiiiiiiiiiiccccccaraguan death squads didn't actually kill us all in the '70s and '80s. Oh, wait, people got together and fixed a bunch of those problems. A shame that could never possibly happen again.

These days, I like having money more than I like spending money.

Money is security, freedom, and a good night's sleep, but everyone needs to find their own balance between spending like they'll die tomorrow and saving like they'll live to 100.


Correct. I put away 10-20% of my earnings during my working career, and tried to live frugally. Now I have the money to do what I want, when I want to do it. I have already outlived most of my male relatives, except my father, but I saved with the thought "What if I accidentally live to be 100?". I have no pension, and Social Security would pay for property taxes or groceries when I collect. If it is still there, which I never counted on.
 
2022-05-22 12:31:33 PM  
"There's still plenty of reasons to believe in the resilience of the consumer," she said, pointing to America's robust job market and the solid pay increases many people are receiving. "There is a certain amount of frustration as they navigate the environment we're in. But they're still spending."
Consider that even while consumer sentiment as measured by the University of Michigan plunged nearly 30% over the past year, Americans' spending outran inflation during that time. Economists at Michigan noted that there has been a "historic disconnect" between sentiment and actual consumer behavior.


Oh, stop with the mealy-mouth horseshiat.  Your plan worked--Americans are now so stupid that they will shop their lives away, in the face of recession, economic collapse, environmental collapse, personal collapse, and financial collapse.
You hope for the resilience of the consumer because that's the only way our economy runs--by sucking the life out of every one of us  to fuel the garbage heap.  And now you don't know what to do about your perfect little consumer--they're threatening the supply chain, the planet, the work ethic, the perfect system that economists put together for us, where we would all know our place and shop accordingly.

Why won't people be guided in the way that is right for the upper classes--I shop, and you provide lots of convenient shiat for me to buy, without bellyaching about how you needed more than this?  What do you mean?  You have unlimited, uncontrolled shopping!  You have credit!  You have stores!  Why won't you get in line and do the job that needs to be done, so that we can ALL live like kings?

Everybody you know, anyway.  Why would you worry about anyone else?
 
2022-05-22 12:33:02 PM  
Yet the rest of us (taxpayers) are supposed to forgive their student loans?
 
2022-05-22 12:36:00 PM  
I like how all these young people are so worried about climate change that they decide to live in the most hedonistic way possible, like they're not part of the problem, but just innocent victims.

Repeat forever.  Every day on Fark.
 
2022-05-22 12:37:48 PM  

jjorsett: Yet the rest of us (taxpayers) are supposed to forgive their student loans?


Yeah, fark that noise! There's billionaires to feed and a military-industrial-complex to subsidize!
 
2022-05-22 12:59:50 PM  

AppleOptionEsc: Dick Gozinya: I'm not worried at all; I know how this ends.

10 years from now, when the world isnt a mess anymore and this generation is in their 40s, they'll still be here on Fark biatching about how society needs to bail them out of the bad decisions they made when they were in their 30s, just like they're here on Fark today biatching about how society needs to bail them out of the bad decisions they made a decade ago when they were in their 20s.

Its the circle of life...

/ok boomer

In 10 years Fark will fold under as half the userbase reaches 70. I dont think all 5 of us under 40s who come here can keep paying Drew's bar tab.


Wow then you lot are even more pitiful than I thought.  If you are that age complaining about minimum wage, student loans, etc you guys are just the worst at running a life.
 
2022-05-22 1:08:00 PM  

cryinoutloud: I like how all these young people are so worried about climate change that they decide to live in the most hedonistic way possible, like they're not part of the problem, but just innocent victims.

Repeat forever.  Every day on Fark.


Aw man, you were just making a pretty good point a few moments earlier, but then you had to start with the soy lattes.

I like how these old people are so wise to realize that within the course their lifetime we have been turned into nothing but drones to work-consume-die for "the economy", but were indeed the ones enabling the process the entire time and profiting from it. And now they act like it's the young people's fault.
 
2022-05-22 1:32:43 PM  
I see you're still blaming boomers for your own poor choices.
 
2022-05-22 1:53:27 PM  

bingethinker: I see you're still blaming boomers for your own poor choices.


I made the exact choices my boomer parents taught me to make.
Then I made the choice that I would rather not drink myself to an early grave while working a job that is killing my soul and not even making me wealthy in the process.
 
2022-05-22 2:46:29 PM  

bisi: Random Celebrity Insult Generator: Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.

I don't know what the median US income is, but I don't think I know more than a handful of people who could afford to put away 12k, let alone 25k a year.


From BLS.gov

"Median weekly earnings of the nation's 113.6 million full-time wage and salary workers were $990 in the second quarter of 2021. Women had median weekly earnings of $899, or 82.2 percent of the $1,094 median for men. "

Which comes out to $51,480. It does not say if that is net or gross but assume that is before taxes, so it's probably around $42,000 after all taxes, and half the country does not make enough to pay income tax.

Hard to tell what position the woman in the story is in, she may be a high earner and not worry, she may be from money, she may be lying...

Overall, it sounds like there is going to be a generation of (younger Millennials, Gen Z??) that are going to be begging for a bailout when they get older or will die young, or won't be able to afford the name brand cat food. Keep in mind, these are the same people who think that right out of college they should be earning 6-figures, regardless of what their major is.

Education is getting worse (sabotaged) and we have a generation of YOLO idiots that believe the world is going to end in the next decade, if not tomorrow.
 
2022-05-22 3:58:46 PM  

bisi: Random Celebrity Insult Generator: Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.

I don't know what the median US income is, but I don't think I know more than a handful of people who could afford to put away 12k, let alone 25k a year.


I didn't even have a savings account until last fall. Many of my friends still don't have one. No reason to have one, if you have no money that you can save.

/yes, I'm sure it's all that avocado toast and not all that pesky rent and student loans and healthcare costs and gas and utilities and the fact that we make like $12 an hour
 
2022-05-22 4:26:03 PM  

austerity101: bisi: Random Celebrity Insult Generator: Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.

I don't know what the median US income is, but I don't think I know more than a handful of people who could afford to put away 12k, let alone 25k a year.

I didn't even have a savings account until last fall. Many of my friends still don't have one. No reason to have one, if you have no money that you can save.

/yes, I'm sure it's all that avocado toast and not all that pesky rent and student loans and healthcare costs and gas and utilities and the fact that we make like $12 an hour


"I don't see the problem, why don't you darn kids just suck it up, don't buy the latest fashion, drive a cheaper car, no fancy vacations, and you'll easily come up with the 300$ for the house payment! I did!" - every boomer
 
2022-05-22 8:12:19 PM  

austerity101: bisi: Random Celebrity Insult Generator: Before the pandemic, she said, she was putting about $2,000 into her savings account each month. Now it's half that amount.

if it reads like it is written, that at age 27 she's putting 12K/year into a savings account, she's going to be fine.  I'm  assuming this is in addition to a company match retirement account.  I bet financially she's ahead of 90% of her peers which makes her an outlier.

I don't know what the median US income is, but I don't think I know more than a handful of people who could afford to put away 12k, let alone 25k a year.

I didn't even have a savings account until last fall. Many of my friends still don't have one. No reason to have one, if you have no money that you can save.

/yes, I'm sure it's all that avocado toast and not all that pesky rent and student loans and healthcare costs and gas and utilities and the fact that we make like $12 an hour


While that sucks, it's important that your experience is just as atypical as mine. The median household income for millennials (which includes households with one and with multiple earners) is about $72,000. And given that right 60% of millennials are single, it's safe to say that's a decent estimate for actual median incomes for millennials, which also tracks given millennials are (in general) much more well-educated than the average American.

So most of us aren't earning $12/hour. Most of us are earning somewhere around $33/hour. The other problems -- high rents, high education loans, etc. -- definitely exist. But overblowing the doom and gloom is also not helping. It alternates a huge chunk of millennials who DO have savings accounts, who HAVE purchased a home (it's like 40% of us now,) and who see someone saving $2,000 per month and think "yeah, that sounds about right." I'm sorry you're not one of us, I hope that we can help you do better, but I don't think you should generalize your experience to every millennial, because that's not helping.
 
2022-05-23 7:59:45 AM  

SirDigbyChickenCaesar: AppleOptionEsc: Dick Gozinya: I'm not worried at all; I know how this ends.

10 years from now, when the world isnt a mess anymore and this generation is in their 40s, they'll still be here on Fark biatching about how society needs to bail them out of the bad decisions they made when they were in their 30s, just like they're here on Fark today biatching about how society needs to bail them out of the bad decisions they made a decade ago when they were in their 20s.

Its the circle of life...

/ok boomer

In 10 years Fark will fold under as half the userbase reaches 70. I dont think all 5 of us under 40s who come here can keep paying Drew's bar tab.

Wow then you lot are even more pitiful than I thought.  If you are that age complaining about minimum wage, student loans, etc you guys are just the worst at running a life.


It could be worse, I could be you.
 
2022-05-23 1:32:58 PM  

pdieten: Dear Jerk: Good luck with dying early. We all thought we'd be dead before we were 25. These days, I like having money more than I like spending money.

Pretty much yeah. Tomorrow is going to come whether you're ready for it or not. Don't come crying to us when it arrives, grasshopper.


Saving is for people with extra money after their needs are met. Not for people working multiple jobs just to have enough to keep juggling bills.
 
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