Comments on: Millennials Don’t Want to Be Millionaires?

By: J. Money

J. Money — Mon, 29 Feb 2016 22:03:23 +0000

In reply to Elizabeth. I guess... Seems like it would be good to understand that you can have investments that are much safer than others even IN the stock market too. Like with mutual funds/index funds/etc. I think that scares a lot of younger people as they focus on all the bad that can come w/ investing vs all the good long term :(

By: Elizabeth

Elizabeth — Sat, 13 Feb 2016 19:05:05 +0000

With the question is posed the way it is, the responses make sense. If you can truly only have ONE of the following – a steady job with modest income OR a risky portfolio of a million bucks that could disappear within three years – risk-averse Millennials more often choose the first option. I can understand why; in once case at least you have an income no matter what!

They are also less likely to invest in stocks or exhibit other risk-averse behaviors due probably to the two major recessions they have witnessed so far in their adult lives (the tech bust and the Great Recession). But if the question was simply: “Would you rather have a job or a million dollars?” the responses may have been different.

By: J. Money

J. Money — Thu, 24 Dec 2015 18:37:45 +0000

In reply to Carly. Sounds like you do a good job of appreciating what you have :) Though I wouldn't say being a millionaire is "extreme wealth." Most people will need that to be able to retire semi-comfortably later. It's one thing to work because you enjoy it, and another because you're forced to when you're in your 60s, 70s, 80s :(

By: Carly

Carly — Wed, 23 Dec 2015 23:58:37 +0000

I’m a millennial who doesn’t care to be a millionaire. When I first told my dad that extreme wealth was not a high priority he told me that I was crazy. I have a well paying job with a national financing institution and am pretty happy gradually moving up from where I am now, which is inevitable in my line of work.

By: J. Money

J. Money — Mon, 21 Dec 2015 18:15:52 +0000

In reply to Financial Samurai. You must have great faith in their parents!

By: J. Money

J. Money — Mon, 21 Dec 2015 18:15:04 +0000

In reply to Debtman. I wonder what that guy is up to now?

By: J. Money

J. Money — Mon, 21 Dec 2015 18:14:24 +0000

In reply to Stockbeard. Haha... there is that, yes.

By: J. Money

J. Money — Mon, 21 Dec 2015 18:12:38 +0000

In reply to superbien. How do you know I'm not already using one? ;)

By: Financial Samurai

Financial Samurai — Tue, 15 Dec 2015 04:11:47 +0000

Screw the money! Haha.

I actually believe it, bc they’ve got a lot of money coming their way in the form of inheritance!

By: Jayson @ Monster Piggy Bank

Jayson @ Monster Piggy Bank — Sun, 13 Dec 2015 06:26:18 +0000

Oh no, I am a millennial and I do want to be a millionaire. That is why I am trying my best to earn money as much as I can, J Money. There are just many ways to be a millionaire. All it takes are dedication and hard work, J Money.