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by exclusiv
3010 days ago
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My outlook is there are definitely more important things than money like time - time for whatever you want - loved ones and friends, relaxation, enjoying life, charity work, etc. Money buys you time and unless you're reckless with it - it can remove or reduce a lot of stress. It makes a marriage and having a family much easier among other things. I think we worship obscene money (ex: celebs, athletes, tech founders) and get rich stories but probably don't worship money as a whole - if we really did we wouldn't be in such debt buying crap and having no savings. 63% of Americans don't have enough to cover a $500 emergency. [1] College students could be having that financial outlook you mentioned as a result of the crazy debt they took on. And the fact that 75% said raising a family was a life goal, which is higher than boomers and Gen X, at a time when raising a family is way more expensive than it used to be. If this is the case, then they actually value education and raising a family over money and money is just a means to attain those things. So I don't think that's alarming. What's alarming to me is poor financial education and decisions and the desire to get rich quickly or feel like you're owed $X salary because you have $Y debt which I see with many new graduates. [1] https://www.forbes.com/sites/maggiemcgrath/2016/01/06/63-of-... |
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Most people who are daydreaming about a get rich quick scheme probably aren't thinking about putting the money they earn in safe investments and living the rest of their life on the $80,000 a year they can get from the returns. They're thinking about the mansion, sports car, exotic vacations, etc.