Most Millennials are not on track when it comes to saving for retirement

Re:Most Millennials are not on track when it comes to saving... by NZThrowaway on Tuesday August 14, 2018 @01:40AM (#17755814)

This thread got me thinking and thought I'd post. Made a throw away for this as my real account can be linked to me far too easily... $ are in NZD.

32, living in down south in New Zealand. Working for clients around the world, mostly in the UK.

Making $150-180K per year.

Bank accounts $15K in NZ ~$50K in the UK account from client payments over the last few months

Own the house we built for $580K in 2016, it has recently been valued at $650K. Have a mortgage on that of $320K.

Have another mortgage of $180K on a $260K house split with a friend when we brought a rental property at the start of this year.

Have about $10K worth of crypto, down from dizzying heights at the start of the year :D, from a $4k gamble just over a year ago.

I think we have ~$20K in a superannuation accounts, which we haven't put anything into since I've been working for myself.

Interest rates on the mortgages are 4.19% p.a.

Other than the mortgages we have no other debts. We being my partner and I, our 1 year old, a dog and 2 cats.

On one hand I feel like we're doing OK. But for the amount I'm making I feel like we should be saving / investing more.

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Re:Most Millennials are not on track when it comes to saving... by nealdt on Tuesday August 14, 2018 @06:19AM (#17756639)

I have a few kiwi friends and it seems like most of them (and most of their friends over there) are financially very successful regardless of their profession and background. Appears to be a very good time to be in NZ!

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