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Tue Jan 14, 2020, 06:38 AM

Here's why so many millennials making 6-figure salaries still feel broke

https://www.businessinsider.fr/us/why-henry-millennials-making-6-figure-salaries-feel-broke-2020-1

In case you were looking for something to hate-read...

Some millennials feel that their six-figure paychecks are stretching thin.

As Melkorka Licea reported for the New York Post in October, they are known as "Henrys." The acronym short for "high earner, not rich yet" was invented by Shawn Tully in a 2003 Fortune magazine article and has come to characterize a certain group of six-figure earners who are mostly millennials, Licea wrote.

According to the experts, the typical Henry earns over $100,000, is in their early 30s, and struggles to balance their spending and savings habits. As a result, they're behind in wealth-building and are not inching closer to their financial goals.

Their comfortable, if not lavish, lifestyle is partially to blame for feeling broke but so too is an economy that seems good but has a lot of tensions bubbling under its surface.

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Reply Here's why so many millennials making 6-figure salaries still feel broke (Original post)
Recursion Jan 14 OP
CaptYossarian Jan 14 #1
Farmer-Rick Jan 14 #2
tazkcmo Jan 14 #3

Response to Recursion (Original post)

Tue Jan 14, 2020, 08:43 AM

1. So recreational drugs are as expensive as daily meds? Shocking.

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Response to Recursion (Original post)

Tue Jan 14, 2020, 09:11 AM

2. I have 2 very nice millennial children

Niether of them makes a 6 figure salary. They barely make ends meet.

The average millennial income is $35,000. But they are so loaded down with student debt and high rent it is more like $20,000.

https://www.google.com/amp/s/amp.businessinsider.com/average-american-millennial-net-worth-student-loan-debt-savings-habits-2019-6

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Response to Recursion (Original post)

Tue Jan 14, 2020, 09:13 AM

3. On under 18k/yr in 2018

I saved enough to buy a car. Cry me a river.

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