{"id":357,"date":"2009-05-05T16:47:00","date_gmt":"2009-05-05T16:47:00","guid":{"rendered":"http:\/\/192.168.1.142:8080\/2009\/05\/05\/msn-money-why-gen-y-might-never-retire\/"},"modified":"2022-09-21T14:57:03","modified_gmt":"2022-09-21T18:57:03","slug":"msn-money-why-gen-y-might-never-retire","status":"publish","type":"post","link":"https:\/\/home.woodchuckhunters.com\/blog\/2009\/05\/05\/msn-money-why-gen-y-might-never-retire\/","title":{"rendered":"MSN Money: “Why Gen Y might never retire”"},"content":{"rendered":"

I’m pissed off about this article from MSN Money: http:\/\/articles.moneycentral.msn.com\/Investing\/Extra\/why-gen-y-might-never-retire.aspx<\/a><\/p>\n

“But when it’s time to invest, they’re as risk-averse as their Depression-era forefathers. That could prove to be a personal-finance mistake of epic proportions.<\/p>\n

It’s overly dramatic to say that investing like a scared rabbit could ruin your life. But it could certainly affect your ability to free yourself of the working world anytime before you draw your last breath.”<\/p><\/blockquote>\n

I rarely get irrationally angry at news articles, but I just want to say, “F* You, MSN!” Gen Y might never retire, that’s probable, but it wont be because of conservative investing. We will never retire because we’ve never been taught to live lower than our incomes. A majority of us do not understand how or why we should be doing anything except spending every dollar of our paycheck. This article is nothing short of investment fear mongering.<\/p>\n

“If you invested $250 a month, or $3,000 a year, in bank deposits yielding 3.7% on average, you’d have $275,000 some 40 years later when you wanted to retire. If you invested the same $250 but earned the 11.67% average of small-company stocks, you’d have $2.6 million.”<\/p><\/blockquote>\n

I don’t have the skills to debate their math (but I can’t believe their calculation takes into account compounding interest on a bank account versus losing and regaining value of stocks). My thought is, “Why on Earth would I need 2.6 million dollars?” 275k seems like more than enough to reasonably sustain a person. Just don’t go spending 150 dollars every week at the grocery store. Really, though, what are y’all going to be doing during retirement that you’ll need millions of dollars for?<\/p>\n

I’m not totally conservative with my 403b retirement, but I’m not 70% stocks as this article says. I’d rather be moderate and smart with my investing; investing more in things like “lendingclub.com” or with a local credit union where my money invests directly in my community. Its more rewarding personally and I’m not guilty of committing a deadly sin. Greed and dreams of ammassing millions of dollars on Wall Street is exactly why our economy is in the shitter right now.<\/p>\n

\/rant<\/p>\n

Current Mood:<\/b> \ud83d\ude21angry<\/div>","protected":false},"excerpt":{"rendered":"

I’m pissed off about this article from MSN Money: http:\/\/articles.moneycentral.msn.com\/Investing\/Extra\/why-gen-y-might-never-retire.aspx “But when it’s time to invest, they’re as risk-averse as their Depression-era forefathers. That could prove to be a personal-finance mistake of epic proportions. It’s overly dramatic to say that investing like a scared rabbit could ruin your life. But it could certainly affect your […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[19,20],"tags":[],"class_list":["post-357","post","type-post","status-publish","format-standard","hentry","category-opinions","category-political"],"_links":{"self":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts\/357","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/comments?post=357"}],"version-history":[{"count":2,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts\/357\/revisions"}],"predecessor-version":[{"id":883,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/posts\/357\/revisions\/883"}],"wp:attachment":[{"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/media?parent=357"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/categories?post=357"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/home.woodchuckhunters.com\/blog\/wp-json\/wp\/v2\/tags?post=357"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}