this post was submitted on 06 Oct 2023
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Of all generational cohorts, older millennials are most likely to generate enough income to retire comfortably, according to the latest Vanguard Retirement Readiness report.

Specifically, millennials aged 37-41 have the greatest chance of landing a comfortable retirement.

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[–] Scotty_Trees@lemmy.world 12 points 2 years ago (3 children)

What if you're in your late 30's and you have ~20k in debt and barely any savings to last a month. I'm staring down a hopeless void.

[–] MojoMcJojo@lemmy.world 5 points 2 years ago

File. For. Bankruptcy. Best decision you could ever make. Hell, just ask GPT how to do it. It's just paper work and then blamo, debt be-gone. Do some research , there different kinds of bankruptcy. The rich do it all the time. It's as American as President Camacho.

[–] MeanEYE@lemmy.world 1 points 2 years ago

There's a guy on YouTube who has a channel for people like you... Caleb Hammer.

[–] Rengoku@lemm.ee -4 points 2 years ago (2 children)

When I was in my early 30s I had 40k debt. Now I am near 40 and cleared them all and have savings and property worth 100k.

And HRV + Ioniq 5 to boot.

Everything is possible.

[–] Poem_for_your_sprog@lemmy.world 7 points 2 years ago (1 children)
[–] Rengoku@lemm.ee -5 points 2 years ago (1 children)

Beans? I got Steak. Work harder and smarter so you dont eat beans.

[–] Poem_for_your_sprog@lemmy.world 1 points 2 years ago

I actually prefer beans over steak.

Some good sashimi though? I'll take that.

[–] Cryophilia@lemmy.world 3 points 2 years ago (1 children)
[–] Clent@lemmy.world 0 points 2 years ago (1 children)

Sounds like he's a landlord.

So he's skimming of others income. A leech.

[–] Cryophilia@lemmy.world 1 points 2 years ago (1 children)

Even leechyness aside, it's just winning the housing market lottery. No one can afford a house right now, and if they could, it's not appreciating like crazy anymore.

The guy got extremely lucky with timing and also somehow found enough cash for a down payment.

[–] Clent@lemmy.world 2 points 2 years ago

Correct. It is not a universal solution.

"Can't make rent, afford a car, food, etc? Just get some rental properties!" -- out of touch wealthy people.