This sounds overstated, but it's mostly a reminder that most of the Millennial generation is over 30 now, and many are approaching 40.https://twitter.com/CNBC/status/1186075946417344512 …
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Of course, there's a lot of variables that go into savings: marriage, kids, house, college debt, how young you started working, what part of the country you live in.
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For my part, no more than half of the money I've saved since I started working 23 years ago has gone into retirement or cash savings; the rest went into house down payment and - mostly - 529s for the kids.
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What's depressing - and a common experience that fuels a lot of the politics of people under 40 - is that I make multiples of what my dad made, I've saved hundreds of thousands of dollars in 529 accounts, yet my kids will still graduate with more college debt than I did.
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End of conversation
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One of mine is 33 with zero debt. Considering a year or 2 break. Yes, she has the cash on hand. Her 401k is fully funded & vested. Some parents do teach financial responsibility & it gives you options. She is single.
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I wonder how they define savings here—does it include the illiquid, such as equity in a house?
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