Poll of the Day > Are you a millennial and do you have a 401k? (or comparable retirement account)

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Muffinz0rz
06/08/17 10:42:19 AM
#1:


For the purposes of this topic, you are a millennial if you were born between 1977-1995 (source below).




Source for millennial years: http://genhq.com/generational_birth_years/
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Mead
06/08/17 10:54:34 AM
#2:


I am, and yes
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RCtheWSBC
06/08/17 10:55:25 AM
#3:


I have two retirement accounts: one traditional IRA and one Roth IRA.
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Jen0125
06/08/17 11:01:46 AM
#4:


RCtheWSBC posted...
I have two retirement accounts: one traditional IRA and one Roth IRA.

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Steven010702
06/08/17 11:22:04 AM
#5:


I have a Roth IRA that I max out every year, but I don't have a 401k offered at work.
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mastermix3000
06/08/17 11:24:08 AM
#6:


I do but from what I've been hearing from the "Older Generation" it doesn't matter since I'm gonna be working for a while anyway (ok it does matter but I'd rather teach full time when I'm old with experience than actually "work")
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Mead
06/08/17 11:33:51 AM
#7:


mastermix3000 posted...
I do but from what I've been hearing from the "Older Generation" it doesn't matter since I'm gonna be working for a while anyway (ok it does matter but I'd rather teach full time when I'm old with experience than actually "work")


That statement has never really made sense to me. Right now we are paying for all the old baby boomers and once they pass away it seems like social security will be a lot more manageable. Been hearing for years that it won't be around by the time I'm old. I think people just like to spread doom and gloom.
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mastermix3000
06/08/17 11:38:17 AM
#8:


Mead posted...
I think people just like to spread doom and gloom.


Nah it's being realistic these partners are going on 70. From looking at mortgages the ones who retire are pretty old and had some bad ass income (director's of engineering, IT heads, etc) we'll be working longer that's for sure

Thing is we should have enough from retirement by then to coast the rest of our years. Probably not enough to keep up with our lifestyle by then which is why we can do things we actually wanna do
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Dynalo
06/08/17 11:45:56 AM
#9:


Mead posted...
mastermix3000 posted...
I do but from what I've been hearing from the "Older Generation" it doesn't matter since I'm gonna be working for a while anyway (ok it does matter but I'd rather teach full time when I'm old with experience than actually "work")


That statement has never really made sense to me. Right now we are paying for all the old baby boomers and once they pass away it seems like social security will be a lot more manageable. Been hearing for years that it won't be around by the time I'm old. I think people just like to spread doom and gloom.


The main issue is that people are living for significantly longer than they were when the program was first implemented. It's the same issue a lot of companies (particularly government jobs) are running into with defined benefit retirement plans. These plans were all based on paying out to people for an average of 5-10 years, but now we're paying it out for an average of 20ish years and the number keeps climbing.

This won't change when we get older either. The retirees can't outnumber the workers (or frankly, the numbers can't even be close), otherwise the people working will have to pay an obscene amount. These programs aren't designed for you to draw from them for as long as you contributed to it.
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gguirao
06/08/17 1:07:23 PM
#10:


I don't have a 401k.
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argonautweakend
06/08/17 1:08:02 PM
#11:


I have a 401K but I work at wal-mart so it isnt filling up super fast, though i contribute 10% of my paychecks and WM matches 6, so eh.
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Dikitain
06/08/17 1:10:41 PM
#12:


Yep, and I make sure to put as much as my work is willing to match in for maximum profit.
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KevinceKostner
06/08/17 1:12:53 PM
#13:


I have a 403b I don't know what that means exactly though
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ChrisHanson24
06/08/17 1:42:19 PM
#14:


i intend to retire early so no fuck the 401k
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FalinmerTheil
06/08/17 2:07:28 PM
#15:


No 401K, but my employer has a retirement package that'll cover me as long as I work for 20 years.
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RCtheWSBC
06/08/17 2:16:26 PM
#16:


KevinceKostner posted...
I have a 403b I don't know what that means exactly though

It's a retirement account akin to a 401K. Do you work for a nonprofit? I had a 403b from my nonprofit employer until I rolled it over to an IRA.
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KevinceKostner
06/08/17 2:18:24 PM
#17:


I work for a Catholic hospital, guess that explains the tax exempt part
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PMarth2002
06/08/17 2:47:00 PM
#18:


Yes to both.

However my 401k just got started this year and I don't make much money.
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#19
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kukukupo
06/08/17 3:45:32 PM
#20:


According to that list I would be a Millenial - which I definitely am not.

Yes, I have a 401K.

/Gen X


Author Jeff Gordinier, in his 2008 book X Saves the World, defines Generation X as those born roughly between 1961-1977 but possibly as late as 1980.[20] Canadian author and professor David Foot divides the post-boomer generation into two groups: Generation X, born between 1960 and 1966; and the "Bust Generation", born between 1967 and 1979, In his book Boom Bust & Echo: How to Profit from the Coming Demographic Shift.[21][22] On the American television program Survivor, for their 33rd season, subtitled Millennials vs. Gen X, the "Gen X tribe" consisted of individuals born between 1963 and 1982.[23]
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Mesiah21
06/08/17 4:55:56 PM
#21:


kukukupo posted...
According to that list I would be a Millenial - which I definitely am not.

Yes, I have a 401K.

/Gen X


Author Jeff Gordinier, in his 2008 book X Saves the World, defines Generation X as those born roughly between 1961-1977 but possibly as late as 1980.[20] Canadian author and professor David Foot divides the post-boomer generation into two groups: Generation X, born between 1960 and 1966; and the "Bust Generation", born between 1967 and 1979, In his book Boom Bust & Echo: How to Profit from the Coming Demographic Shift.[21][22] On the American television program Survivor, for their 33rd season, subtitled Millennials vs. Gen X, the "Gen X tribe" consisted of individuals born between 1963 and 1982.[23]



Yeah according to that list I'd be a millenial, but I am not. Way more of a Gen X generation person, or what came after that really, before millenials began. Still I am certainly more like a Gen X person being born in 81.
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rexcrk
06/09/17 5:50:11 AM
#22:


According to that, I'm a millennial (born in '88). I don't have a 401k but I do have a pension from my first ten years at my job, even as a part-timer.

I do have a Roth IRA that I put money into every week (depending on other expenses, I'll put on anywhere from $25-100).
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kukukupo
06/09/17 7:32:06 AM
#23:


To me, the question on whether you are a millenial or not boils down a couple of simple questions:


Did your music collection ever exist on tapes or just CDs? (or for that matter How many records have you owned? Ever seen an 8 track?)
Did you learn how to type on a computer or a typewriter?
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Cacciato
06/09/17 8:19:41 AM
#24:


I have a 401k.

Regarding the other part of the topic, you guys seem pretty concerned over an arbitrary title.
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AlleRacing
06/09/17 8:34:39 AM
#25:


Mesiah21 posted...
kukukupo posted...
According to that list I would be a Millenial - which I definitely am not.

Yes, I have a 401K.

/Gen X


Author Jeff Gordinier, in his 2008 book X Saves the World, defines Generation X as those born roughly between 1961-1977 but possibly as late as 1980.[20] Canadian author and professor David Foot divides the post-boomer generation into two groups: Generation X, born between 1960 and 1966; and the "Bust Generation", born between 1967 and 1979, In his book Boom Bust & Echo: How to Profit from the Coming Demographic Shift.[21][22] On the American television program Survivor, for their 33rd season, subtitled Millennials vs. Gen X, the "Gen X tribe" consisted of individuals born between 1963 and 1982.[23]



Yeah according to that list I'd be a millenial, but I am not. Way more of a Gen X generation person, or what came after that really, before millenials began. Still I am certainly more like a Gen X person being born in 81.

No, '81 is a millenial, you've probably just been misusing the term.
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EvilMegas
06/09/17 9:21:53 AM
#26:


Jen0125 posted...
RCtheWSBC posted...
I have two retirement accounts: one traditional IRA and one Roth IRA.

Yeah breh me too
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Blaqthourne
06/09/17 9:44:22 AM
#27:


kukukupo posted...
To me, the question on whether you are a millenial or not boils down a couple of simple questions:


Did your music collection ever exist on tapes or just CDs? (or for that matter How many records have you owned? Ever seen an 8 track?)
Did you learn how to type on a computer or a typewriter?

That might work if the time period was open ended. Because those born after 1995 would answer the same as the millennials supposedly would. Or those born before 1977 would answer the same as the millennials if my assumption of the expected answers is wrong.
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kukukupo
06/09/17 10:06:18 AM
#28:


AlleRacing posted...
Mesiah21 posted...
kukukupo posted...
According to that list I would be a Millenial - which I definitely am not.

Yes, I have a 401K.

/Gen X


Author Jeff Gordinier, in his 2008 book X Saves the World, defines Generation X as those born roughly between 1961-1977 but possibly as late as 1980.[20] Canadian author and professor David Foot divides the post-boomer generation into two groups: Generation X, born between 1960 and 1966; and the "Bust Generation", born between 1967 and 1979, In his book Boom Bust & Echo: How to Profit from the Coming Demographic Shift.[21][22] On the American television program Survivor, for their 33rd season, subtitled Millennials vs. Gen X, the "Gen X tribe" consisted of individuals born between 1963 and 1982.[23]



Yeah according to that list I'd be a millenial, but I am not. Way more of a Gen X generation person, or what came after that really, before millenials began. Still I am certainly more like a Gen X person being born in 81.

No, '81 is a millenial, you've probably just been misusing the term.


Not necessarily. Gen X has stretched into 81-82.
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ASlaveObeys
06/09/17 2:39:20 PM
#29:


Roth IRA and a Pension. State job, yo!
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