The world is in trouble

According to a recent Survey from Aegon Transamerica, only 7% of millennials (ages 20-29) got the following questions right.

1. You have $100 in your savings account that earns 2% interest annually. How much do you have after 5 years? A) $102. B) more than $102. C) less than $102 D) I don’t know. E) I refuse to answer.

2. You are earning 1% each year. Inflation is 2% annually. After 1 year, you can buy: A) more than you could a year ago. B) Same as a year ago. C) Less than a year ago. D) I don’t know. E) I refuse to answer.

3. Buying a single stock provides a safer return than buying a mutual fund. A) True. B) False C) I don’t know. D) Refuse to answer

We have 5 kids in this age group. I just sent them this survey and awaiting responses.


Dad school is in session.

They'll probably google it.

Don’t matter, gubment got my back

Do you have a link to the poll?

Most of them dont have any money anyway so......

Interesting stuff about how today’s generation views retirement.

The New Social Contract

How many is 7% of millennials?

Approx 210 out of 3,000 ages 20-29
Also, 52% of respondents in this age said they lived with their parents in 2020.

Gamers got game

This survey couldn't be all that recent. The generally-accepted birth years for Millennials is 1981 to 1996. They're 25-40 now (and no named generation is only 10 years in span).

Perhaps I use the term “millennial” too loosely. Thanks for pointing that out. The survey was done in Jan/Feb 2020.

"For some of us, the conventional idea of one day stopping work altogether is disappearing. We are on a different journey through life, with more career breaks, sabbaticals, time to travel and a combination of short- and long-term savings goals."

Young adult retirement expert Njani Ruetsch.

Career Breaks. OK, I'm taking a career break so I'm sure my bills due date will take a break as well.

Sabbatical time. Work stresses me out. I need to chill and meditate for a few months. Again, my bill due dates are sabaticalling with me.

Time to travel. I think as long as I am on a career break and sabbatical, American Airlines and Marriott will understand that I can't actually pay for anything.

Short term savings goal. I will cash my stimulus check and save it short term.

Long term savings goal. Soon as I take a career break, a sabbatical and travel awhile I'll get a job and save for another long term sabbatical.

Njani Ruetsh is your go to Financial Advisor. You can make a Zoom call appointment with her in between career breaks and sabbaticals.

You think!

I am very blessed, we have 3 millennials and they are all out on their own, married and prospering.

Yes the world is in trouble. Lots of trouble. It’s gone bonkers. Hypocrisy no longer exists as it’s the norm now. Truth is whatever is repeated over and over. Death spiral. No pulling out. Question is how long before the crash.

So who raised these people that everyone is complaining about??

World needs a lot of prayer!

Putting another layer on my tinfoil hat.

Njani hasn't faced retirement yet. Wage/salary-based income stops, but the continuing costs of living do not. She has a major epiphany on the horizon, but it will be too late for her to do anything about it. Working "when it's convenient" or they feel like it, then putting a few coins in a saving account won't cut it. Yeah boy, let us get our computer and find a website tool that can compound that at a fractional percentage, then apply the record breaking inflation that may also be on the event horizon scale....and see where it gets them.

The world needs a lot of vaccine.

You got that right Banker!

Wow, Ya think the vaccine is going to fix it all , really? Wish it was that simple.

ivomec