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A comment on Most Millennials are not on track when it comes to saving for retirement. Parent comment

Re:Most Millennials are not on track when it comes to saving... by eximius on Monday August 13, 2018 @04:39PM (#17753450)
The average/median salary for millenials is between $25-40k (the statistics I see vary significantly). I imagine that this article is basically a proxy for the poor wages millenials typically have.

I'm a young millenial in a low cost city in Texas with a retirement account balance over the average by quite a bit. If you have the money to max your accounts every year, its very easy. And I've already bought and sold a house while I maxed out my accounts.

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Re:Most Millennials are not on track when it comes to saving... by gnicholas on Monday August 13, 2018 @04:47PM (#17753516)
It's interesting to see how folks can live in other areas. Because retirement accounts have so many restrictions, people who anticipate spending $1M-$2M on a house in the next 10 years pretty much ignore them. Of course, these homes (at least ones near Palo Alto) are themselves a good investment, and carry tax benefits similar to (but smaller than) retirement accounts.

Hearing the stories here makes me want to leave!

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