Lurker > SK8T3R215

A good number of them are in their 30s and are thinking about longer-term planning, said Julie Lodge-Jarrett, chief talent officer at the Dearborn, Mich., auto maker. While they want to save, and they inherently get the importance of saving and planning, they dont know how to do it.

Zillow Group Inc., the Seattle real-estate company, earlier this year began offering a student-loan repayment program, contributing $25 a month toward the employees balance. The benefit was initiated after workers asked for help tackling college debts, said Dan Spaulding, the companys chief people officer.

About 580 workers have signed up, the company said, and they carry an average loan balance of about $28,000.

Mike Maughan, head of global insights at Qualtrics in Provo, Utah, which researches millennials, said the financial picture of the generation is rosier than it appears: Millennials are much scrappier than we give them credit for.

Employers have told Mr. Maughan that the desire of millennials for on-the-job feedback shows they are eager to improve their skills.

One other bright spot: Millennials are entering their prime earning years just as baby boomers retire. That should fuel demand for their skills and lift their earnings. The job market is so much better, so much stronger than it was 10 years ago, said Mr. Emmons, of the St. Louis Fed. Thats a huge benefit.
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For richer, for poorer
Millennials, as a group, are better educated than any generation before them. About four in 10 ages 25 to 37 hold at least a bachelors degree compared with about a quarter of baby boomers, and three in 10 Gen Xers when they were the same age.

Those college diplomas have come at a high price. The average student-loan balance for millennials in 2017 was $10,600, more than twice the average owed by Gen X in 2004, according to Mr. Kurz and his Fed colleagues.

For the Cochrans, the price was personal. Joseph Cochran, a real-estate manager, proposed to Tasha Brown in 2012. She said yes. Then Ms. Brown, a consumer finance attorney, realized that combining their salaries as a married couple could drive up their income-based student-loan payments.

They ditched their wedding plans but forged a life together. Each wear wedding rings. Ms. Brown, 36, legally changed her name and became Ms. Cochran. The couple run a financial-advice website, whittling away at their combined student debt of $377,000.

If we had zero student loans wed be married, Ms. Cochran said. We have to be far more strategic and creative in order to try to fit everything in around our student loans.

Their strategy included moving from Philadelphia to Maryland four years ago. Ms. Cochran struggled to get pregnant, and the couple chose a state that mandated insurance coverage of in vitro fertilization, she said. The Cochrans now have a 3-year-old son.

Ms. Cochran also has a 17-year-old daughter from a previous relationship and has promised to pay for college as long as the teenager studies at an in-state school. Last fall, the young woman enrolled in community college to get a head start.

Her teenager likes the idea of being able to graduate without having any student loans, Ms. Cochran said.

The family takes a more practical view of higher education, based, in part, on hard-won experience with jobs and school loans. We tell her to think a lot about how much is a given major going to pay, Ms. Cochran said.

The financial strain faced by many American millennials is driving shifts in their political views, reflecting a feeling that as a citizen the system is not really operating as you expect it to, said Mohamed Younis, editor in chief of Gallup.

A Gallup poll last summer found that millennials were the only generation that favored socialism over capitalism by a slight margin. The survey didnt include Generation Z, people born in 1997 or later, and who are mostly too young to vote.

Tough times for millennials struggling to reach a more comfortable middle-class life have triggered support for populist candidates and promises of universal health care and free college education.

Tony Mancilla, a 31-year-old hospital maintenance technician in American Falls, Idaho, voted for Hillary Clinton, a Democrat, in 2016. Now, he is interested in Sen. Bernie Sanders, of Vermont, a self-described democratic socialist.

Mr. Mancilla, who earns about $35,000 a year, said he cant afford the more than $600 a month it costs to insure his wife and two children on his employer plan. His children rely on a publicly subsidized plan. His wife is uninsured.

These health-care worries pointed Mr. Mancilla to Mr. Sanderss Democratic Party primary campaign and his way of looking at health care, trying to get that for everybody, taxing the rich, he said. He might have the best interest for the American people rather than just one class.

As millennials approach middle age, more are asking for help from their employers. Ford Motor Co. two years ago expanded its financial-planning services after internal surveys found that the top monetary concern of millennials was saving for retirement. Fords planning services include one-on-one reviews of employee investments. All 80,000 U.S. workers are eligible.


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A generation apart
Their economic fundamentals are fundamentally different, said Christopher Kurz, an economist at the Federal Reserve.

Mr. Kurz and his colleagues last year analyzed income, debt, asset and consumption data to figure out how millennials compared at similar ages with Generation X, people born between 1965 and 1980, as well as baby boomers, those born from 1946 to 1964.

They found that millennial households had an average net worth of about $92,000 in 2016, nearly 40% less than Gen X households in 2001, adjusted for inflation, and about 20% less than baby boomer households in 1989.

Wages didnt look much better. At the same ages, Gen X men working full time and who were heads of households earned 18% more than their millennial counterparts, and baby boomer men earned 27% more, when adjusting for inflation, age and other socioeconomic variables.

Among women, incomes were 12% higher for Gen Xers and 24% higher for baby boomers than for millennials, using the same measures.

One explanation for their slow progress is bad luck. Economists have found that entering the workforce during a downturn yields lower earnings for life.

Till von Wachter, an economics professor at the University of California, Los Angeles, found that Americans who entered the labor market when unemployment rates rose by five pointsabout the same as in the 2007-09 recessionsaw their cumulative earnings fall by 10% over the first decade of a career.

The effects have health and lifestyle consequences well into middle-age, said Prof. von Wachter. He reviewed four decades of earning data in his study, which was conducted with Hannes Schwandt of Northwestern University.

The disappearance of manufacturing jobs, which in postwar years paid middle-class wages to high-school graduates, is another misfortune. Those who lack a college degree are at the biggest risk of falling behind.

Median household income last year was about $105,300 for millennials with a bachelors degree or higher, more than twice that of households headed by high-school graduates, according to the Pew Research Center.

Many millennials couldnt afford to buy houses or invest in the stock market early enough to profit from the sharp escalation of prices over the past decade, said William Emmons, an economist at the Center for Household Financial Stability at the Federal Reserve Bank of St. Louis.

About one third of millennials owned homes in 2016, compared with half of Gen Xers at similar ages in 2001, and just under half of baby boomers in 1989, according to Mr. Kurzs findings. Even if millennials close the gap as they age, asset prices are so high, Mr. Emmons said, that their expected return on real estate is lower.

Losing out on a decade of gains in the stock and housing markets hurt the financial standing of millennial households. Between 2010 and 2016, Gen Xers, baby boomers and the older silent generation all recouped some of their recession losses, while the average family headed by someone born in the 1980s fell further behind the older groups, in relative terms.

The St. Louis Fed found the median wealth of a family headed by someone born in the 1980s was a third below the level that they would expect, compared with earlier generations at the same age and adjusted for inflation.

The regional Fed bank concluded that people born in the 1980s are at risk of becoming Americas lost generation, Mr. Emmons said, men and women who feel an almost insurmountable burden to catch up financially.
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bobtuse posted...

Ironic that this is behind a paywall.

That's not irony.
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New data show theyre in worse financial shape than every preceding living generation and may never recover

https://www.wsj.com/articles/playing-catch-up-in-the-game-of-life-millennials-approach-middle-age-in-crisis-11558290908#comments_sector

Good article about the financial situation of millennials vs prior generations with new Federal Reserve data. Below is the intro snippit but I would suggest reading through it for the bulk of the data.

TLDR: Millennials are more educated, but have less wealth, and property due to the timing of the financial crisis and student loan debt.

American millennials are approaching middle age in worse financial shape than every living generation ahead of them, lagging behind baby boomers and Generation X despite a decade of economic growth and falling unemployment.

Hobbled by the financial crisis and recession that struck as they began their working life, Americans born between 1981 and 1996 have failed to match every other generation of young adults born since the Great Depression. They have less wealth, less property, lower marriage rates and fewer children, according to new data that compare generations at similar ages.

Even with record levels of education, the troubles of millennials have delayed traditional adult milestones in ways expected to alter the nations demographic and economic contours through the end of the century.

Millennials helped drive the number of U.S. births to their lowest levels in 32 years. That means fewer workers in the future to support Social Security and other public programs for the ballooning population of retirees.

Social Security last month estimated that in 2035, after nearly all baby boomers retire, there will be 2.2 workers per beneficiary. Last year, there were 2.8. The current birthrate of around 1.8 children per woman is expected to create a Social Security deficit of nearly $2 trillion over the next 75 years.

Prospects for a quick turnaround arent good. Men and women in their 30s are marrying at rates below every other generation on record.

Well have to rethink a lot of things about taxation and how social programs are funded if fertility is really on a more permanent decline, said Anqi Chen, assistant director of savings research at the Center for Retirement Research at Boston College.

Growth in property values and the stock market this past decade helped older households regain ground since the recession. Millennials, though, have made little headway.

If I cant afford a home, I definitely cant afford kids, said Joy Brown, 32 years old. She is a renter who is single and earns $75,000 a year. She also owes $102,000 in student loans and $10,000 in credit-card debt.

Myself and a lot of my peers still feel like were playing catch-up in the game of life, said Ms. Brown, a compliance officer for the city of Chicago

More than half the 72 million American millennials are now in their 30s. The oldest will turn 38 this year, when their generation is expected to surpass the number of baby boomers.

Their slow start has been well-documented in the first years after the recession. New data show that millennials may never catch up with the generations of Americans that preceded them.
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theAteam posted...

eston posted...

theAteam posted...

If I went to the bank and asked for $100k even with a good job they'd balk at me.

I don't know why you think that. They look at your credit score, income, and current debt and determine whether it is feasible for you to make the monthly payments. People frequently take larger loans than $100k just to buy a house, and it is totally normal

And almost all kids entering college have no income, no credit history, and no debt history. And they are approved virtually unanimously.

Because they're guaranteed by the federal government.
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Yes you're an employee.
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THIS! GREAT TOPlC!
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P4wn4g3 posted...

Let's just be happy this terrible show is done.

THIS! GREAT POST!
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The Popo posted...

I had ants about two years ago. Ive done this every year since, and I havent had any issues since:

1) Get these liquid ant traps and put them around outside your house (along the exterior wall) where you are noticing the biggest issues:

I use these they work very well. Set up a bunch of them at once and check that ants are going to them. Let them get it and in 2 to 3 days you shouldn't see many around anymore.
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clearaflagrantj posted...

SK8T3R215 posted...

Wait is it "not covered at all" or is it you have to pay up to your deductible to have the procedure?

Since, you know, having a high-deductible plan that's how it works. Also it should allow you to put pre-tax funds into an HSA.

It's not covered at all.

Who is your insurance provider? I assume it's a myringotomy which looks like its covered by basically every company and on a high deductible plan you would have to pay a few thousand $$$ anyway even if they do cover it.
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New York Knicks, New York Jets, New York Yankees.

Wait is it "not covered at all" or is it you have to pay up to your deductible to have the procedure?

Since, you know, having a high-deductible plan that's how it works. Also it should allow you to put pre-tax funds into an HSA.
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>perfect hearing
>need this necessary procedure for my hearing
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New York Knicks, New York Jets, New York Yankees.

New York City Mayor Bill de Blasio launched a long-shot run for the Democratic presidential nomination in a campaign video released Thursday, touting his progressive beliefs and experience running the nations largest city.

Mr. de Blasio becomes the 23rd person to join the race for the Democratic nomination in the 2020 election. It is one of the largest fields of presidential candidates in the countrys history and includes former Vice President Joe Biden, Massachusetts Sen. Elizabeth Warren and South Bend, Ind., Mayor Pete Buttigieg.

A recent Monmouth Iowa poll found Mr. de Blasio, 58 years old, had the second-highest unfavorability rating among national Democratic voters. And a Quinnipiac University poll released in March found 76% of New York City voters were against him running.

Wonder if he'll be the first to drop out.
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Uh, the employees numbers I'm seeing shows they added 14,000 employees?

And capital investments was pretty much in line with prior years(and higher than 2017 per the cash flows), and that excludes their acquisition of Time Warner.
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I know like half of those songs only
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New York Knicks, New York Jets, New York Yankees.

The sex economy is unfair. The top 1% (Chad) gets all the women.
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Congrats to him.
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New York Knicks, New York Jets, New York Yankees.

Blue_Inigo posted...

When is the government gonna slap Disney? It's a fucking monopoly

How so?
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New York Knicks, New York Jets, New York Yankees.

voldothegr8 posted...

AD, Zion, one more max contract. NO could quickly have a contender.

They're capped out they can't add a max player.

HelloImaPC posted...

SauI_Goodman posted...

HelloImaPC posted...

rigged

https://i.ytimg.com/vi/wYb84lcDXyY/maxresdefault.jpg

Maybe back in the day, but I'm not sure they could do it now. They do it with balls right?

They found a way.

Knicks and Lakers both in the Top 4? Big cities need star power.

And Pelicans getting the #1 pick to either entice Anthony Davis to stay or to pay for him leaving.

So rigged.
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New York Knicks, New York Jets, New York Yankees.

Why marriage is a scam
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New York Knicks, New York Jets, New York Yankees.

Go after work.
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New York Knicks, New York Jets, New York Yankees.

Babby palate can't eat fruits lmfao
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New York Knicks, New York Jets, New York Yankees.

Don't forget to get your conspiracy theories for each team so you know what to say when they win the lotto
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New York Knicks, New York Jets, New York Yankees.

Krojen posted...

Imagine thinking any of this shit will matter in 20-40 years when we will have reached technological singularity.

True just sit back and let technology take the wheel.
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New York Knicks, New York Jets, New York Yankees.

U.S. stocks slid Monday, heading for one of their worst days of the year, after officials in Beijing and the White House exchanged fresh threats in a trade fight that many fear could crimp growth.

The Dow Jones Industrial Average fell 617 points, or 2.4%, to 25325, its biggest one-day loss since January. The S&P 500 dropped 2.4% and the Nasdaq Composite was hit the hardest, shedding 3.4%.

Major indexes have made a sharp retreat from records as trade tensions between the worlds two biggest economies have ratcheted higher. Chinese officials said Monday that they would raise tariffs on roughly $60 billion worth of U.S. imports, following through on threats last week to hit back at the U.S. after its own increase in tariffs went into effect.

The moves showed investors that one of the biggest assumptions many had held this year could be in danger of falling apart. Many money managers had credited the stock markets 2019 rally to a combination of easy monetary policy, steady growth in the U.S. and signs of progress in trade negotiations.

There is still time for the U.S. and China to carve out a trade agreement, analysts said, noting the two countries increased tariffs wont hit goods in transit immediately. And U.S. indexes are still up solidly for the year: the S&P 500 and Nasdaq are up double-digit percentages in 2019. Stocks pared some of Mondays losses after President Trump said he would meet with Chinese President Xi Jinping at the upcoming G-20 summit.

Still, investors and analysts say a breakdown of trade talks risks damaging business and consumer confidence, potentially crimping spending at a time when growth is already widely expected to moderate. UBS analysts estimate U.S. growth could drop by 0.75 to 1 percentage point and stocks could fall double-digit percentages if the U.S. hits all Chinese exports with 25% tariffs.

This back and forth that were seeing on trade is a distraction, said Alan Adelman, senior fund manager and research analyst at Frost Investment Advisors. So far, corporate earnings in the U.S. have proven better than feared, helping share prices rise off the lows they hit last year. But Mr. Adelman said he would be closely watching earnings for any signs that trade is starting to translate into poorer results.

https://www.wsj.com/articles/global-stocks-stumble-on-renewed-trade-anxiety-11557734434?mod=breakingnews
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New York Knicks, New York Jets, New York Yankees.

TheBiggerWiggle posted...

Our generation wont get to retire.

me: ok
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Where's Kyle Korver
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Being a mom is LITERALLY the hardest job ever.

Not agreeing makes you a BIGOT.
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Lillard's shot vs the Thunder was more badass
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me: ok
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I try to eat enough for 2 children to get my gainz.
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New York Knicks, New York Jets, New York Yankees.

Markets finished higher after talks were "constructive".
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twitterfriends posted...

Wonder her how much she made on that bet.

Probably 4000-5000x her investment. People who invested in 2010 made about 5000x.
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DevsBro posted...

>topic title says man customers
>OP complains about woman customer

Don't assume their genders bigot.
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Is this the start of the beta uprising
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Goats posted...

How low is the dow going to go today emolga

Not really low they're down about .3% now unless negotiations fail and end with no deal sometime today which seems unlikely.
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Futures aren't down much on the news since China is continuing negotiations in Washington today.
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New York Knicks, New York Jets, New York Yankees.

Trump Lets Tariff Increase Go Ahead, Threatens More as Talks Resume https://www.wsj.com/articles/u-s-to-move-forward-with-china-tariffs-trump-says-11557424081

President Trump decided to let a tariff hike on $200 billion of Chinese goods go into effect at 12:01 a.m. Friday even as trade negotiations resumed, and the president also threatened to move ahead with fresh levies on everything else China sells to the U.S. that isnt already subject to tariffs.

U.S. and Chinese negotiators met Thursday and plan to meet again on Friday morning, but even so tariffs would increase to 25% from 10% as planned, a White House spokeswoman said.
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Paper_Okami posted...

Maeiv posted...

This article is from 2016

But Im doing better than that

that's only 3 years ago

The data is actually from 2014.
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Steve Nick posted...

shouldn't require schooling at all. that's really the type of job you should just learn on the job

Hi Dr. Nick
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