Half Of Millennials Believe They'll Be Millionaires

"When it comes to their own net worth, millennials sure are an optimistic bunch. According to a recent survey by TD Ameritrade, more than half of the generation thinks they’ll be millionaires one day.

One-fifth of them think they’ll amass that wealth by the time they’re 40, and most expect that their earnings will come from a job they’re happy with in their chosen trade.

Not to rain on their parade, but the financial reality for most millennials looks much more modest.

The Brookings Institution recently conducted an economic study that found that millennials are less wealthy than people their age were in any year from 1989 to 2007."

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[katieadams]

George calin said that the reason why socialism never took off in America is because the poor see themselves as temporally embarrassed millionaires rather than as exploited people

[krejelcric]

I have absolutely no desire to be a millionaire. End the system of exploitation.

[mocki]

"It's called the American Dream because you have to be asleep to believe it" G. Carlin

[esarts]

Back in 2004, I was thinking by 30 I was going to open a flower shop and pay my parents credit card debt from our health insurance not covering 2 surgeries at the time (in 2006 my dad need one for reconstruction on its fingers from a wall coming down on him and popping three fingers at work ) which we couldn’t afford a four year college for my brothers, sisters and myself, so we went to a community college. But I never thought it was going to be a difficult recession that we are still feeling the after effects. Now I’m 31 and I’m going to be laid off in June from my child care job which I don’t qualify for unemployment...wish me luck and the Six Flags Magic Mountain interview on Saturday. At least they have a 41k plan and get pay every Friday...

[MaJoRMJR]

As a millennial the only chance I have of being a millionaire by the time I'm 40 is to win the lottery, which is a very slim chance.

[tristampratorius]

Temporarily embarrassed millionaires...

[MrEroshan]

I'm 65, someday I'm going to play in the NFL.

[ZiZla]

Theoretically, if a millennial doesn't go to college, but gets a very decent blue collar union job, makes an average of over $50K every year from age 20-40, and lives with his/her parents....this is possible. But society tells us we need college degrees and that living with your parents is bad.

[grmpEqweer]

I dream of being a thousandaire...

More seriously, though...10% of the people have 77% of the wealth.

It's not possible for 50% of millenials to be millionaires, so long as the wealth distribution stays so lopsided.

Some will make it. Some will need some therapy.

[crashbox]

It’s called the american dream because you have to be asleep to believe it

[grapeshot]

There's going to be some disappointed people.

[transhuman]

I’m 44 and I went to public school. What they kept telling me and I suspect they still tell children is that if they’re very bright and if they work very hard and get really good grades they will find a nice boss who will pay them fantastic sums of money to work in a job they will love. They don’t say anything about student debt, or lack of job opportunities, or the taxes that take most of your paycheck, or the 60+ work hours each week, or the boss that will try to squeeze As much free work out of you as he can, or possibility of brown nosing coworkers ready to stab you in the back to get the promotion you’ve been working for. They don’t tell you about working for companies like Amazon or Yahoo or Activision. They do you tell you we live in an meritocracy so or so any misfortune or lack of fortune you have is your own fault for not working hard enough.

[sylvainmichaud]

Imagine the problem, half the population paying very little or no income tax !
We're all gonna be millenionaires.

[ArtistVAV]

It’ll be millennials and gen Z who will work hand in hand to make a world where everyone can live like a millionaire.

We should also ask WHY folks desire that much wealth in the first place. Security and the ability to influence would be my response. If we had a system that provided all our necessities and even indulgences, I think we’d be more willing to part with our desire for wealth. We could use money as a tool to give back, to invest and innovate, to bring the collective up rather than just the individual.

[lemonsys]

With a little more inflation we could all easily be millionaires.

[Heavensrun]

Is it possible that some of these people are just confident that in 50 years the dollar will depreciate so much that a $50, 000 salary today will be a million-dollar salary in that time?

[facialsupremacy]

Half of Millennials believe they'll be millionaires. I haven't watched the video yet so I say, "uh what".

[therenegadekautsky]

You will not be millionaires. With love: the other 50% of millennials who dont believe in this delusional dream from capitalism anymore.

[ting]

They're all going to be Tik Tok famous YouTubers. That's where all the money is now.

[andrewlong]

Investing stock market and real estate! Mathematically not that hard! Compound interest.