Millennials need $525,000 a year to be happy?

20 comments

1. I agree, but they should level set their expectations.

2. I need $525,001 to be happy.

3. You forgot a word in the title.

4. Well I guess that explains my depression.

5. Avocado toasts don’t grow on trees

6. ? I think this is a silly post about someone’s opinion article. I stubbed my toe the other day and need $500,000 to recover. What do you think about that.

7. Millennials (and people in general) have a very poor grasp of money

8. And millennials blame boomers for greed? The skunks cannot smell themselves.

9. Want a house, car, paid off student loans, two annual vacations, save for retirement…how much do you think that costs in 2024 dollars?

10. Go ask Ye eldest millennial, born on July 1 1981. Let they speak for the entire generation.

11. Progressive car insurance has really gone up. So maybe that is accurate. I’m partially kidding. But it’s pretty expensive out there for sure.

12. I would say that’s pretty accurate for a family of 4 but not for individuals.

13. The people that say they need 525k a year are the same people who will win the lottery and still go broke after 3 years. No financial prudence and will forever live paycheck to paycheck.

14. I’m a millennial who makes about 1/4th that amount and I’m very happy

15. Boomers & older Gen X don’t count the enormous government subsides for things like housing & education in their incomes.

    We actively hid those from them because we were fighting a cold war with the USSR (e.g. communism vs capitalism)

    But turns out a functioning country pretty much requires subsides for education and affordable housing because the free market won’t meet that need….

    I suspect if you included the subsides in their incomes you’d find most successful boomers were in the range of $300k-$500k/yr inflation adjusted.

16. Millennials were sold on this American dream:

    * Married with 1-2 kids
    * Both kids in daycare/after school care since both parents are working
    * Kids have name brand clothes, iphones, new bikes, etc.
    * 3bed house, 2 bath.
    * 2 cars in working condition
    * dining out twice a week at a sit down restaurant
    * Concert/sporting tickets 3-4 times a year
    * Healthy unprocessed food
    * high speed internet, gym membership, etc.
    * New cell phones every few years
    * HD TVs
    * 1-2 vacations a year, one internationally
    * Retire at 65 and *maintaining* the above lifestyle
    * donate to charity
    * all of the above + comfortable margin.
    * Payoff assumed $50k+ in student loans

    Tell me how much you think a person should make to easily afford the above?

    I don’t think it’s $500k/person, but easily $500k/household. My household brings in ~$250k in a big city and can hit about half of the items on that list.

17. I feel like it should say, “*Happy according to social media.”

    They see all these high end vacations, food, and cars, on social media **every day** and think that’s the norm and/or what will make them happy.

    The one thing that is still an issue is housing, but someone making half that can afford a decent home in a non-costal area.

18. Lmao. Making enough money to completely retire within 10 years from nothing. Absolutely absurd obviously.

19. This will not get anyone to side with millennial struggles.

20. It’s because the more money you make, the more “luxury” items start seeming like necessity.

    For me, before I made a certain amount, 401k , life insurance, stocks/investing were a pipe dream.

    Then when you get to a certain level, you suddenly need a house.

    And you just keep scaling, until 500k becomes the baseline to aquire what we deem as a necessity