4 ms·
Agreed, especially considering 1 in 6 millennials have $100k saved. https://www.cnbc.com/2018/02/05/1-in-6-millennials-have-100000-heres-how-much-you-should-ha
by tempsy 7y ago
Agreed, especially considering 1 in 6 millennials have $100k saved.
https://www.cnbc.com/2018/02/05/1-in-6-millennials-have-100000-heres-how-much-you-should-have-saved.html https://www.cnbc.com/2018/02/05/1-in-6-millennials-have-1000...
- cactus2093 7y agoGreat, now they just need to save another $200k and they'll have the down payment on a median priced home!
- tempsy 7y agoYou can find places for under $1M even in sf, and you don’t necessarily need 20% down for a first time homeowner
- madengr 7y agoI’m guessing that is mostly 401k savings, not liquid savings, which essentially can’t be touched until 60.
- tempsy 7y agoThe survey says this is based on savings in bank accounts not a 401k Either way there’s nothing preventing you from “touching” 401k savings. You pay a 10% penalty.
- madengr 7y agoHa ha, there’s no way in hell I believe those numbers. This says it’s no more than $5k on average, at best. More like $2,500. https://www.cnbc.com/amp/2019/03/11/how-much-money-americans-have-in-their-savings-accounts-at-every-age.html https://www.cnbc.com/amp/2019/03/11/how-much-money-americans...
- tempsy 7y agoAverages are a bad way to look at it. There are fat tails on both sides.