A 31-year-old Reddit user recently opened his financial position in a publication that resonates with hundreds of others. Working jobs at $ 20 an hour and takes a second work on weekends for $ 12 an hour, the original poster said they were worried about the future and asked colleagues for millennia: “How are you all doing financially?”
“I’m very worried about my future,” the poster writes. “I’m worried I will do like those old people in Walmart who stand in front of the store, congratulating people.”
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The person details his situation: $ 3,500 in a high -yield savings account, $ 20,000 in an old 401 (K), $ 5,000 in Roth Ira and about $ 8,000 in split the debt between student loans and credit cards. They live with their mother and contribute to the mortgage, which is about $ 45,000 left. “We will most likely be able to pay the house in five years,” they added.
Many people could associate and share similar stories about a sense of stabs or anxiety.
“Pressing 40 and working in a dead end for $ 16/hour,” one man replied. “I have a $ 1 savings, ~ $ 8 for a check, ~ $ 90 after my credit limit of $ 11.5,000 on my interest card that eat me alive.”
Another person summarizes his situation in this way: “Bighter than a lot of my age -the oldest millennium. I am reconciled to the fact that this is for me, this dream of traveling, this luxury resort, to have good things, the children who go to college with less or no duty are no longer possible for me.”
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Others said they were doing better, but still felt stretched. One 35-year-old shared: “Divorced and make $ 34/h. Hire a small apartment with 2 beds/1 bath, no children. Savings of $ 127,000 and $ 30,000 in my 401 (k). They paid the last of my debt last year … I just saved for a house now.”
One parent said they make $ 115,000 a year and own a home, but with children and without a second income, it is “narrow”, but they do not carry a debt other than a mortgage and their needs are satisfied.
Some commentators have reported strong finances, but many emphasized how rare and fragile this position is. One couple, both in Tech, said they earn over $ 300,000 a year with $ 1.6 million retirement savings and almost paid mortgages. “We are very lucky. I certainly didn’t plan that,” they wrote.