Millennials saving more but still worry about their future

Editor: Draco Copper | Tactical Investor

Before we get to the story at hand, we would like to provide you with an excerpt of another article that we think could make for a absorbing read. Remember when it comes to investing in the stock market, it is imperative that you get a clear understanding of what is going on and not what the crooked media wants you to believe. If you let the media control the angle of observance, you will see what they want you to see. Alter the angle and the perspective changes. Don’t you think it is time you took control of the angle of observance? For example, Trump’s crushing win over Hillary clearly illustrates that the media is on par with the two-bit whore; for the right price they will sell their soul.

It’s not even 2018, and there is already a slew of articles stating that the markets are going to crash in 2018. What is amusing is that these very same individuals have been making the same prediction for nigh on ten years. You would think that by now they would have had some sense knocked into them; especially since they have taken such a massive drubbing. No such luck, the same experts keep mouthing the same nonsense hoping desperately for a new outcome. Will The Stock Market Crash In 2018?

What are your biggest worries about the future? Have you ever thought about how our standards of success have changed just over the last one decade?

In the past, you probably could get by with just a high school degree and get a good decent paying job where you stay with the same company until you retire, but things have changed. As the saying goes, everyone’s job is important, but no one is indispensable. Sadly, while the world has changed, the system has remained the same.

Unfortunately, unlike past generations, there’s no such thing as job security anymore. I mean how can you be “secure” when your employer has the power to fire you whenever they want? Even higher education is failing to serve young people. Nowadays, I’ve met many friends who just graduated from college and they start to look for a job, only realize that many companies are just offering a temporary contract role.
At the end of the day, the real threat is not the force of disruption, the real threat is the inability to adapt to new changes. The question is, are you doing everything you need to stay on the top of your game? Read more

Would you believe one in six Millennials have already saved $100,000? That is well beyond what the average 50-year-old has saved, according to a GAO Study. Wake up Gen X, it is time to get serious about retirement.

How much should you have saved throughout your life? This is a question many a worker should be asking sooner. But some Millennials are already on the retirement-saving band wagon. According to a recent Bank of America survey, a surprising 16% of Millennials between the ages of 23 and 37 now have at least $100,000 saved for retirement.
The large gap between the mean and median savings is caused by wealthy individuals like Oprah, Bill Gates and Mark Zuckerberg. Their savings can offset a lot of accounts with balances of little to nothing. Compare that to the median number, which has 50% of the people below it and 50% above it. In this case, a billionaire will only balance out one person who has saved nothing for retirement.
Having two times your annual salary saved should be the goal of 35-year-olds. Four times your annual salary is the target for people who reach the ripe old age of 40. If you’re 45, try to have at least five times your salary saved. Read more

“Young adults deserve more credit,” when it comes to their savings habits, says Andrew Plepler, global head of environmental, social and governance at Bank of America, in a release.

There are several reasons for this: according to the bank’s Better Money Habits Millennial Report, most millennials (aged 23 to 37) are not only saving (63%) but are also meeting their financial goals (67%). What’s more, the report says millennials are more likely to say they have a savings goal (57%) than gen Xers (42%) and baby boomers (42%).

Still, that report said almost one-third (32%) of millennials listed saving for retirement as a priority. Other priorities were saving for vacation (29%) and saving for a home upgrade or purchase (27%). In contrast, saving for retirement was a top concern for 63% of boomers and 62% of gen Xers—given they’re closer to retirement, perhaps this isn’t surprising. Read more

The Millennials Are All Right But Still Worry About The Future

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