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The New Coffee Room

  1. TNCR
  2. General Discussion
  3. The Super Savers?

The Super Savers?

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  • JollyJ Offline
    JollyJ Offline
    Jolly
    wrote on last edited by
    #1

    Gen Z...

    https://www.cnbc.com/2024/05/29/gen-z-retirement-super-savers.html

    “Cry havoc and let slip the DOGE of war!”

    Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

    1 Reply Last reply
    • MikM Offline
      MikM Offline
      Mik
      wrote on last edited by
      #2

      Smart. And necessary.

      “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

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      • JollyJ Offline
        JollyJ Offline
        Jolly
        wrote on last edited by
        #3

        But...I admire them for saving, but what about some of the more costly milestones of life? Getting married? Children? Buying that first home?

        “Cry havoc and let slip the DOGE of war!”

        Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

        LuFins DadL 1 Reply Last reply
        • JollyJ Jolly

          But...I admire them for saving, but what about some of the more costly milestones of life? Getting married? Children? Buying that first home?

          LuFins DadL Offline
          LuFins DadL Offline
          LuFins Dad
          wrote on last edited by
          #4

          @Jolly said in The Super Savers?:

          But...I admire them for saving, but what about some of the more costly milestones of life? Getting married?

          They aren’t.

          Children?

          Nope.

          Buying that first home?

          Not happening.

          The Brad

          1 Reply Last reply
          • 89th8 Offline
            89th8 Offline
            89th
            wrote on last edited by
            #5

            Very smart, I was always told to max out my savings but I didn’t even know what an IRA was until my late 20s. I’m glad financial literacy is becoming more accessible via YouTube and prioritized in schools… I’ve started my kids early (they don’t even know yet).

            What will be extra interesting is the overall wealth transfer from boomers to younger generations over the next decade or two.

            Of course my kids will work, but it will be interesting to see if my savings, combined with their savings, eventually leads to generations that have so much transferred wealth that they don’t even need to work?

            Doctor PhibesD 1 Reply Last reply
            • MikM Offline
              MikM Offline
              Mik
              wrote on last edited by
              #6

              Nah. Inflation will take care of that.

              “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

              1 Reply Last reply
              • AxtremusA Offline
                AxtremusA Offline
                Axtremus
                wrote on last edited by
                #7

                And then there these other Gen-Zs:

                https://www.nbcnewyork.com/news/business/money-report/gen-zs-are-spending-big-to-travel-this-summer-even-if-it-means-going-into-debt/5458941/

                Using debt to finance summer trips
                .
                Still, 42% of Gen Zs and 47% of millennials say they plan to use debt to finance their summer trips, according to a survey by the financial services company Bankrate.

                1 Reply Last reply
                • 89th8 89th

                  Very smart, I was always told to max out my savings but I didn’t even know what an IRA was until my late 20s. I’m glad financial literacy is becoming more accessible via YouTube and prioritized in schools… I’ve started my kids early (they don’t even know yet).

                  What will be extra interesting is the overall wealth transfer from boomers to younger generations over the next decade or two.

                  Of course my kids will work, but it will be interesting to see if my savings, combined with their savings, eventually leads to generations that have so much transferred wealth that they don’t even need to work?

                  Doctor PhibesD Offline
                  Doctor PhibesD Offline
                  Doctor Phibes
                  wrote on last edited by Doctor Phibes
                  #8

                  @89th said in The Super Savers?:

                  Of course my kids will work, but it will be interesting to see if my savings, combined with their savings, eventually leads to generations that have so much transferred wealth that they don’t even need to work?

                  In a word, no.

                  7d49ce8c-aec4-43b0-b891-0a2ab53f3bae-image.png

                  I was only joking

                  1 Reply Last reply
                  • MikM Offline
                    MikM Offline
                    Mik
                    wrote on last edited by
                    #9

                    Phibes, what the hell is that? It looks like the Care Bears crapped.

                    “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

                    Doctor PhibesD 1 Reply Last reply
                    • 89th8 Offline
                      89th8 Offline
                      89th
                      wrote on last edited by
                      #10

                      I'm guessing it's unicorn poop. A rare delicacy in England.

                      1 Reply Last reply
                      • MikM Mik

                        Phibes, what the hell is that? It looks like the Care Bears crapped.

                        Doctor PhibesD Offline
                        Doctor PhibesD Offline
                        Doctor Phibes
                        wrote on last edited by
                        #11

                        @Mik said in The Super Savers?:

                        Phibes, what the hell is that? It looks like the Care Bears crapped.

                        Link to video

                        I was only joking

                        1 Reply Last reply
                        • MikM Offline
                          MikM Offline
                          Mik
                          wrote on last edited by
                          #12

                          OK, I was close.

                          “I am fond of pigs. Dogs look up to us. Cats look down on us. Pigs treat us as equals.” ~Winston S. Churchill

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