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

[Mainecat]

Henry’s......lol

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 

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.

[Edmo]

MC size dose of doom and gloom this morning. 
What a load of crap...

[JEFF]

So in short, They don't know how to budget money. Got it.

[Anler]

Cost of living is high in areas paying that much to millenials. $100k around here is not big money. 

[awful knawful]

3 minutes ago, JEFF said:

So in short, They don't know how to budget money. Got it.

Exactly. They're Stupid!

[ArcticCrusher]

3 minutes ago, JEFF said:

So in short, They don't know how to budget money. Got it.

Most don't.

The more you make, the more you spend, savings will come later.

[Angry ginger]

3 minutes ago, Anler said:

Cost of living is high in areas paying that much to millenials. $100k around here is not big money. 

Single millennial making 100k should be able to make it work just about anywhere but they want to live life in the moment and instant gratifications expensive.  I was making 100k+ at 24 years old but I wasn't a spender till my 30's.  

[Beavis and Butt-Head]

2 minutes ago, ArcticCrusher said:

Most don't.

The more you make, the more you spend, savings will come later.

This, they probably spent like they were making 1M a year instead of living on 80K yearly budget. they probably got a pair of $1,000 car payments every month so its very simple lol 

[Pete]

This whole thread is about one thing and ind thing only 

It’s all trumps fault and his economy is the cause 

fuck you Maincunt 

[Highmark]

5 minutes ago, Anler said:

Cost of living is high in areas paying that much to millenials. $100k around here is not big money. 

Housing and taxes.   Nothing else is that much higher but then again those can be enough.  

[Angry ginger]

1 minute ago, Beavis and Butt-Head said:

This, they probably spent like they were making 1M a year instead of living on 80K yearly budget. they probably got a pair of $1,000 car payments every month so its very simple lol 

expensive cars are not as big of a thing with the millenials,  it's more  a boomer and X thing.  

[Beavis and Butt-Head]

1 minute ago, Pete said:

This whole thread is about one thing and ind thing only 

It’s all trumps fault and his economy is the cause 

fuck you Maincunt 

just look at who he has in his siggy line.  Joe fucking Biden in a yellow Vette.  lol 

[Anler]

1 minute ago, Angry ginger said:

Single millennial making 100k should be able to make it work just about anywhere but they want to live life in the moment and instant gratifications expensive.  I was making 100k+ at 24 years old but I wasn't a spender till my 30's.  

Oh Im not saying you cant make it but when you are starting out and you have student debt and need to rent or buy housing, car, food, dating, etc... That $100k runs out quick. Housing and rent in the city is pretty expensive. 

[Anler]

1 minute ago, Highmark said:

Housing and taxes.   Nothing else is that much higher but then again those can be enough.  

Just living in the city is much higher. Commercial rents are high as fuck and it shows in pricing. 

[DriftBusta]

5 minutes ago, Angry ginger said:

Single millennial making 100k should be able to make it work just about anywhere but they want to live life in the moment and instant gratifications expensive.  I was making 100k+ at 24 years old but I wasn't a spender till my 30's.  

wow whos cooler than you?!   Smh

[Highmark]

16 minutes ago, Anler said:

Oh Im not saying you cant make it but when you are starting out and you have student debt and need to rent or buy housing, car, food, dating, etc... That $100k runs out quick. Housing and rent in the city is pretty expensive. 

Problem is spending.  I'm not denying housing is high but kids don't need to drive new and go out 5 x's a week either.   

[Anler]

Just now, Highmark said:

Problem is spending.  I'm not denying housing is high but kids don't need to drive new and go out 5 x's a week either.   

Absolutely but when you are young your want to party and do fun stuff, I know i  did. 

[steve from amherst]

29 minutes ago, Anler said:

Cost of living is high in areas paying that much to millenials. $100k around here is not big money. 

It isn't big money here either. But it is enough to pay for student loans and a mortgage. 

[racer254]

21 minutes ago, Highmark said:

Housing and taxes.   Nothing else is that much higher but then again those can be enough.  

Lets not forget the registrations for boats, cars and other recreational vehicles, then you have the "wheel tax" and extra taxes that the local governments add.  Granted, they probably can't budget worth a shit, but the out of control taxes can catch young people more and more.  They will come around when they get a little older and realize who is causing the problems.

[BOHICA]

Tesla payments are pretty expensive

Edited January 14, 2020 by BOHICA

[steve from amherst]

23 minutes ago, Angry ginger said:

expensive cars are not as big of a thing with the millenials,  it's more  a boomer and X thing.  

I do believe most around here tend to spend quite a bit in restaurants and bars. In my drinking days a mixed drink was $3.50 for good booze. Whats a top shelf drink these days $8.50?

[Beavis and Butt-Head]

Just now, steve from amherst said:

I do believe most around here tend to spend quite a bit in restaurants and bars. In my drinking days a mixed drink was $3.50 for good booze. Whats a top shelf drink these days $8.50?

$12.50 

[steve from amherst]

1 minute ago, racer254 said:

Lets not forget the registrations for boats, cars and other recreational vehicles, then you have the "wheel tax" and extra taxes that the local governments add.  Granted, they probably can't budget worth a shit, but the out of control taxes can catch young people more and more.  They will come around when they get a little older and realize who is causing the problems.

I don't see a lot of younger folks with boats , wheelers ect. Round here it's gen x er's and boomers

[Anler]

2 minutes ago, steve from amherst said:

It isn't big money here either. But it is enough to pay for student loans and a mortgage. 

I agree, i wasnt implying that its not a livable wage.  

[steve from amherst]

Just now, Beavis and Butt-Head said:

$12.50 

So a decent dinner for 2 with 3 drinks each is $130