Not happening, Jean Chatzky
Retirement savings — LOL, am I right? The current generation of young adults (and slightly less young adults) aren’t doing so hot when it comes to money. In fact, we’re possibly going to be the first generation who won’t do better than our parents. That’s why some very ambitious retirement savings advice from a financial expert has Twitter in stitches.
Because honestly, who even has a month’s salary in savings let alone A YEAR’S?
Finance guru Jean Chatzky probably meant well when she sent out a tweet this morning with some advice on how much money a person should have set aside for retirement at certain ages.
By the time you’re 30, aim to have 1x your annual income set aside for retirement. At 40, 3x; at 50, 6x; at 60, 8x; and by retirement, 10x.
— Jean Chatzky (@JeanChatzky) November 1, 2017
“By the time you’re 30, aim to have 1x your annual income set aside for retirement. At 40, 3x; at 50, 6x; at 60, 8x; and by retirement, 10x,” she writes.
And Twitter was basically like:
Because who in the fuck is able to put aside that kind of money by age 30? Not me. Not anyone I know. And apparently, not a bunch of hilarious people on Twitter either judging by the epic replies to Chatzky’s tweet.
First of all, who even said we HAD any money to save.
Phew. Thank god I don’t make any money, or this would be really hard.— Koby (@KobysaurusRex) November 1, 2017
Some helpfully pointed out that it’s all about your lifestyle choices, really.
If you would all just bring your coffee from home instead of going to the Starbucks—you would totally be able to accomplish this. 🙄— Black Woman (@a_frances34) November 1, 2017
We all know that meal-planning and organizing your lunches for the week on Sunday night is the surefire way to retiring at 60.— Nandini (@nandelabra) November 1, 2017
What other option do we have?
At the rate I'm going, I might pay off my student loans before I retire. Then I suppose I'm just supposed to vanish into the night.— Dr. Shelly K. Turtle (@TechnicolorKim) November 1, 2017
Not to belabor the point but, seriously, L-O-fucking-L.
Sorry Jean, but no. Just no.
Are you aware how irrelevant this advice is for actual 30-year-olds up to their ears in student debt?— jillian (@jilliancyork) November 1, 2017
Just absolutely screwed.
WE'RE SCREWED. https://t.co/Kqo9lXvODb
— Scott Bryan (@scottygb) November 1, 2017
Good advice. On a related note, does anyone know any handy recipes for leftover unicorn? https://t.co/GkFmMvX5ls
— David Llewellyn (@TheDaiLlew) November 1, 2017
Now THIS is doable.
By the time you're 30, aim to have 1 moth fly our of your wallet. At 40, two moths. At 50, find a button at the bottom of your wallet. At 60 https://t.co/1ficdoOGrr
— Alex Zalben (@azalben) November 1, 2017
Ugh, that’s where we went wrong. BRB, going to find new parents.
by the time you're born, aim to have exceedingly wealthy parents. otherwise, die on your feet. https://t.co/bb7skr9k4T
— Justin (@The_Best_Smart) November 1, 2017
I turn 36 next month, so this hits a little too close to home.
this is easier than you'd think: just work three part-time jobs without qualifying for benefits at any of them and die of exhaustion at 36 https://t.co/DzczsZfplo
— John Miguel McCauley (@Mickey_McCauley) November 1, 2017
OK, we do kind of need to know this.
But how much avocado toast are we allowed https://t.co/82tvTfmPMS
— Michelle LaRue (@drmichellelarue) November 1, 2017
To sum up: