millennial-revolution.com Let the Government Fund Your Retirement - Millennial Revolution Wanderer About Latest Posts Wanderer The Wanderer retired from his engineering job at a major Silicon Valley semiconductor company at the age of 33. He now travels the world, seeking out knowledge from other wealthy people, so that he can teach people how to become Financially Independent themselves. Latest posts by Wanderer (see all) 13856170934_ff326b613f_k Photo credit: American Advisors Group @ Flickr, license: CC BY-SA 2.0 Hey you know what I’ve always wanted to do? Pay more taxes to the government. –Nobody Ever Over the course of the last few weeks since this silly little blog went viral, we’ve done our fair share of reader case studies figuring out how quickly our intrepid Revolutionaries can kiss the 9-5 goodbye forever. A few have been featured publicly on this site, and far more behind the scenes in our inboxes. FIRECracker gets off on spreadsheets. Don’t judge. And after the first five, or ten, or twenty, you start to notice a few patterns. The first being that people are in far better shape than they thought. Even without six-figure salaries, with a few tweaks we can often bring their retirement plan down from “never” to “totally doable.” And second, people generally don’t understand how important taxes are. For higher earners especially, just the act of walking into a bank and filling out a bunch of forms shaved up to 5 years off their retirement! So
I choose not to use “Millennials’ Heads Under a Rock” by Ed Schipul simply because the main ideas compared to “Thrift: The Rebirth of a Forgotten Virtue” by Daniel Akst differs drastically. The main idea in Schipuls essay is that Millennial graduates are having issues getting employers to hire them. Additionally, Schipul blames this problem on the Baby Boomers since their spending habits were at a record braking high in the United States. Thus, his overall idea of his essay doesn’t relate to the topic of thrifting as much as “It’s Consumer Spending Stupid” by James Livingston does. For example, Schipuls essay revolves around employment after college rather than the economy and the overall spending problem in American. Therefore, this would
In Eric Hoover’s article, The Millennial Muddle, he describes how stereotyping and trying to understand students has become a major industry, especially with Millennials, since there are different adaptations and interpretations of this generation. It contains the different opinions from people who have studied this generation. Researchers try to figure out who Millennials are, how they think, why they always do what they do, and in those propositions and findings find them to contradict one another. Hoover then states that “in other words, they’re all different. But just for fun, let’s stereotype them as smart, successful, and lull of shakeable opinions.” Hoover does not deny these findings to be contradictory of what Millennials truly are.
“I have studies! I have statistics!” (par. 20) claims Joel Stein, a regular contributor for the TIME magazine. In “The New Greatest Generation: Why Millennials Will Save Us All,” Stein writes about the millennials, people born between 1980 and 2000. Using a very clever gimmick, he points out the unfavorable features of millennials at the beginning of his article, just to create a stronger rebuttal afterwards. He claims that the “millennials’ self-involvement is more a continuation of a trend than a revolutionary break from previous generations… [and] they’ve just mutated to adapt to their environment” (Stein par. 14). By utilizing rhetorical devices and various writing approaches, Joel Stein attempts to persuade the older generations to reconsider their opinion of millennials and presents his claim that the millennials inherited their characteristics from previous generations and have adapted to their environment.
Costa, D. L. (1998). The evolution of retirement: Summary of a research project. The American Economic Review, 88(2), 232-236. Retrieved from https://search.proquest.com/docview/233045640?accountid=41759
In the article, “The New Greatest Generation: Why Millennials Will Save Us All,” by Joan Stein, Stein expresses his views through a complex game of mind control. He captures his audience, the older generations, in the beginning of the article by writing what they want to hear, then switches to the difficult truth, and finally tells the audience that it doesn't matter about what he has to say, but by how they view change. His claim, “So, yes, we have all that data about narcissism and laziness and entitlement. But a generation's greatness isn't determined by data; it's determined by how they react to the challenges that befall them,” (Stein 34) shows just how much he wants to show his audience the difficult truth, and makes them feel bad about being mean to the millennials.
Published in Time magazine on May 20, 2013, “The New Greatest Generation – Why Millennials Will Save Us All,” by Joel Stein, proposes that millennials are a generation of entitled, self-involved narcissists, but have the potential of bettering society. He begins the article by condemning them, then shifts his point and gives reasons why they are changing the way that the world is working. Although Joel Stein’s article includes factual information, it becomes ineffective due to its bias, generalizations, and euphemisms used to further his argument.
Move over Generation X and Baby Boomers, the Millennials are marching through and equipped with top of the line technology and...smaller brains? According to Mark Bauerlein, Generation Y (another word for the Millennials) are the dumbest generation to boot. He claims the easy access to technology has made the generation less likely to concretely grasp information. However, bringing up new technology and theorizing that it results in dumber minds is a complete oxymoron, an unbelievable belief! The current generation may have faults of their own, but despite what Bauerlein has asserted, this generation is nowhere near the dumbest.
Twenty or so years ago, the question of personal growth in retirement hadn't really entered the mainstream consciousness. To most people a generation ago, retirement was an ending, not a beginning. But as with everything else they've encountered, the Boomers are challenging that view of retirement.
Stein claims that “millennials’ selfinvolvement is more a continuation of a trend than a revolutionary break from previous generations. They’re not a new species; they’ve just mutated to adapt to their environment” (31). He supports this assertion by using pathos, logos, and concession. Stein’s purpose is to explain millenial behavior to the older generation in order to recognize how millenials came to be and their importance in society. Even though he begins with a condescending tone addressing the negative attributes of millennials, he expresses a generally positive outlook on the qualities of millennials to the previous generations before them. This work
Younger generations think they have plenty of time to plan and retirement seems too far in the distance future. But the earlier they begin saving for retirement, the more financially stable they will be at retirement age. Saving a little over a longer time accruing interest over the persons working years would develop into a nice retirement nest egg. Youth today will need to work harder at saving, in comparison to their grandparents and even their parents, due to economic factors and because social security and pensions lack reliability.
American politics and the government surrounding it are often marred in cynicism and negativity. Such skepticism is, obviously, unhealthy and is not very conducive when it comes to encouraging the younger generation to get involved in political affairs. David Rankin attempts to tackle this dilemma in his 2013 book US Politics and Generation Y: Engaging the Millennials. In this paper, Rankin’s work will be summarized, followed by an evaluation of myself using Rankin’s criteria, and then discussing a recent political event that arrested my attention during my tenure as a Political Science 104 (POL 104) student at the University of Wisconsin – Richland.
that they find that they are earning less or the same each year as time increases. Essentially,
Despite the $5.5 trillion invested in retirement and savings plans, many Americans are primed for a lower standard of living during their golden years. Since Social Security and defined benefit plans are becoming a thing of the past, Americans are relying heavily on their own investments later in life. Defined benefit plans have given way for the rise of 401k and IRA plans which are defined by contributions of the individual. Employee sponsored programs in 401ks have been flocked to for their flexibility, tax efficiency and high contribution limits when compared to other retirement accounts.
A retirement crisis can be seen looming on the horizon. Countless financial writers have interviewed analysts and actuaries documenting studies showing a large percentage of American workers will be financially unprepared for retirement. The effects will be devastating for an aging population facing increasing life expectancies. The cost to the U.S. economy and to those still working to support the financially
Laszlo Bock’s worked in delis, restaurants and at a library, when he was in High School he tutored elementary school students in speaking English in Japan and in California at an elementary school. In college, he was a lifeguard and acted on TV. He got an MBA degree and worked at McKinney and Company. He also started a nonprofit organization for teens that had troubled life. He was at the top and then started going down to advising companies on