Same Millennials who think they shouldn’t have to work for a living also believe they will be millionaires by age 45

(Natural News) Millennials are not exactly known for greatness; the entire generation is more commonly viewed as a bunch of whiners and entitled snowflakes who don’t want to work. Worse, many millennials seem to think that they should simply be handed higher-paid positions, rather than earningtheir way to the top. But in spite of their unwillingness to put in the work and grit needed to succeed, many millennials still believe that they will magically become millionaires by the time they reach their mid-forties. Even experts agree that these kids are far more delusional than they are ambitious.

While millennials may get “offended,” the reality is that not everyone gets to make seven figures. If you want to earn that kind of income and secure those kinds of savings, you have to put in the work, make smart decisions and even then, nothing is set in stone. Either way, surveys show that while millennials may dream of larger bank accounts, they aren’t really doing anything to make those dreams a reality — a generational hallmark, to say the least.

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Millennial dreams don’t meet reality

As a recent report from MarketWatch explains, some two-thirds of millennials believe they’ll be rich by the time they reach 45, but their current savings and other life choices say otherwise. YCharts, an investment research platform, led a survey which found that an astonishing 65 percent of millennials believed they’d be worth seven figures by 45, if not sooner. Research led by TD Ameritrade found similar results, with survey data showing over half of millennials expected to be millionaires within their life time. One in four expected to be a millionaire by age 50.

Studies have shown that the millennial generation views money as very important — but all of this lies in stark contrast with data which indicates that this age group is not as hard-working as past generations. While some “data” on millennial work habits are more positive, these studies often leave much to be desired.

However, there is the nationally representative Monitoring the Future project, which has been studying secondary students since 1975. Of the 50,000 students surveyed each year, the compiled science shows millennials are lazier than their predecessors. For the generation of “first world” problems, it’s not that surprising.

Delusions of grandeur

As Psychology Today reports, data from Monitoring the Future shows 38 percent of millennials say they don’t want to work hard, compared to just 26 percent of Boomers and 30 percent of Gen X.

More, only 47 percent of millennials said they were willing to work overtime — compared to 59 percent of Boomers and 56 percent of Gen X. Across the board, it’s clear there has been a serious drop-off in work ethic over the last generation.

On top of a dwindling work ethic, millennials are not saving adequately, either. As the report from Market Watch reveals, data from the National Institute for Retirement Studies shows around 67 percent of millennials have nothing saved for retirement at all — and 95 percent aren’t saving properly.

Jennifer Brown, NIRS manager of research, reportedly stated, “Financial experts recommend that millennials set aside 15 percent or more of their salary for retirement, which is a much higher rule of thumb than recommendations for previous generations. But we find that millennials’ average retirement savings rate, including employers’ matching contributions, is 10 percent of their salary.” Other data shows millennials aren’t investing in the stock market, either.

Overall, it’s pretty clear most millennials will not reach their seven-figure dreams. Experts say this generation is literally delusional about their earning potential and how much money they can or will make — which fits right in with past conclusions that millennials are wholly unprepared for adult life in general.

See more coverage of stories like this at Stupid.news.

Sources for this article include:

TheBurningPlatform.com

MarketWatch.com

PsychologyToday.com

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3 comments

  1. There are too many that never received an education altho they went to high school & college…….They are unwilling to acknowledge that their educators knew less than their parents……….

    Have witnessed those type of educators back in the 80’s, when they start telling kids in 1st Grade that they were too ignorant to be taught………when those educators were the ones that were IGNORANT……..

    There were also those that were educators for “SPECIAL EDUCATION”, they knew nothing about the children they were there for………locking them in closets because they were not doing what they were supposed to.

  2. So they will expect the government to bail them out. Hence the Socialism they are preaching. However, by the time they are in line for the freebies, there will be few if any people working and contributing enough to the money pool to sustain it, so when the well runs dry, even and especially Socialism cannot help them. Want to see the future, if we (they) continue down that road? Take a trip to Venezuela! They thought it couldn’t happen there, either, not so long ago. These people do not know the history of the world, so think they will be different. Nothing new here- Grateful that I will not live to see it.

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