this post was submitted on 18 Jun 2024

647 points (98.4% liked)

News

23307 readers

4982 users here now

Welcome to the News community!

Rules:

1. Be civil

Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.

2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.

Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.

3. No bots, spam or self-promotion.

Only approved bots, which follow the guidelines for bots set by the instance, are allowed.

4. Post titles should be the same as the article used as source.

Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.

5. Only recent news is allowed.

Posts must be news from the most recent 30 days.

6. All posts must be news articles.

No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.

7. No duplicate posts.

If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.

8. Misinformation is prohibited.

Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.

9. No link shorteners.

The auto mod will contact you if a link shortener is detected, please delete your post if they are right.

10. Don't copy entire article in your post body

For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.

founded 1 year ago

MODERATORS

647

‘Will I ever retire?’: millennials wonder what’s on the other side of middle age (www.theguardian.com)

submitted 4 months ago by MicroWave to c/news

239 comments fedilink hide all child comments

Claire*, 42, was always told: “Follow your dreams and the money will follow.” So that’s what she did. At 24, she opened a retail store with a friend in downtown Ottawa, Canada. She’d managed to save enough from a part-time government job during university to start the business without taking out a loan.

For many years, the store did well – they even opened a second location. Claire started to feel financially secure. “A few years ago I was like, wow, I actually might be able to do this until I retire,” she told me. “I’ll never be rich, but I have a really wonderful work-life balance and I’ll have enough.”

But in midlife, she can’t afford to buy a house, and she’s increasingly worried about what retirement would look like, or if it would even be possible. “Was I foolish to think this could work?” she now wonders.

She’s one of many millennials who, in their 40s, are panicking about the realities of midlife: financial precarity, housing insecurity, job instability and difficulty saving for the future. It’s a different kind of midlife crisis – less impulsive sports car purchase and more “will I ever retire?” In fact, a new survey of 1,000 millennials showed that 81% feel they can’t afford to have a midlife crisis. Our generation is the first to be downwardly mobile, at least in the US, and do less well than our parents financially. What will the next 40 years will look like?

you are viewing a single comment's thread
view the rest of the comments

[–] JakJak98 12 points 4 months ago (2 children)

Right??

Early Gen Z / very tail end of millennial here.

Got a job that pays ~80k (with promotion potential to 100k in a year) and I'm just.. dumbfounded at how yall are making it. I didn't grow up wealthy at all, and struggled with homelessness for a time, so I'm not new to the frugal game, but being able to put away only a hundred or two bucks a month after taxes is crazy with the hours and time I put into existing. I'd rather just not work at all if the end result is the same.

Doordash is a crux in my life and something I've definitely splurged on in the past, but groceries are just as expensive outside of rice beans and chicken. Baffling. :(

[–] dhork 5 points 4 months ago (1 children)

being able to put away only a hundred or two bucks a month after taxes is crazy with the hours and time I put into existing.

Every little bit helps. Future you will thank you for even putting that amount away.

[–] JakJak98 2 points 4 months ago

I try, but of course life finds a way to rip whatever savings I've got slowly but surely.

[–] LordCrom 4 points 4 months ago

At this point, I'm still looking at working till the day I die.