That's three
times the amount millennials are saving!
Not exact matches
Boomers and seniors are 85 percent more likely than Gen Xers to have $ 300,000 or more in retirement accounts and 4.6
times more likely than
millennials to have saved this
amount.
There's been a lot of talk and a fair
amount of hand - wringing about the numbers of couples that are living together — there are 12
times as many cohabiting couples today as there were in the 1970s (in part because we're a lot more accepting of such arrangements and in part because
Millennials are — wisely — delaying marriage).
In a recent survey, many
Millennials indicated that they'd be open to a «beta marriage», in which couples would commit to each other for a certain number of years — two years seemed to be the «right»
amount — after which they could renew, renegotiate or split, as Jessica Bennett wrote in
Time magazine last year.
There is no end to the
amount of advice available, but savvy
Millennials are able to weed out what works for their children and what doesn't, and in turn can offer advice to new parents when the
time comes.
Certainly, many baby boomers felt TFSAs were too little and too late for their purposes, although they would look with a certain
amount of envy at
millennials and young investors with a 40 - year investing
time horizon ahead of them — indeed, many financial gurus have calculated that merely by maxing out TFSA contributions over such a
time frame, that alone would be sufficient to ensure a comfortable retirement: no RRSP or employer pension plan contributions necessary!
We wanted to go back in
time and look at a simple question: if you're a
millennial (born between 1980 and 1993), and you had contributed the maximum
amount allowed to your 401k, how much money would you have today?
That being said, more than two
times the
amount of
millennials still believe the student loan crisis poses a bigger threat to the U.S. than the rogue regime of North Korea, a testament to just how serious this nation's student loan debt crisis is.
Though seniors have, on average, nearly 2 1/2
times as much credit card debt as the average young
millennial, our survey found that the oldest age group has the highest
amount of respondents who claim to have no medical debt — 84 percent of those polled, to be exact.
That might just explain why the average
millennial on the older end of the generational spectrum is saddled with a massive
amount of credit card debt — more than 10
times that of younger, post-1990s
millennials.
First -
time renters and
Millennials who have not yet accumulated space - demanding possessions constitute a significant
amount of appeal for these apartments.
Millennials — also likely to be move - up buyers — stayed in their home the shortest
amount of
time before selling (five years).
Millennials are most likely to go over budget and by a larger
amount because they're first -
time home buyers and the least knowledgeable about setting a realistic price target and meeting it, Maloney says.