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Money Guy Show

Are Millennials Doomed for Retirement? Breaking Down the Myths

Money Guy Show

Brian Preston, CPA, CFP®, PFS and Bo Hanson, CFA, CFP® | Fee-Only Fiduciary Advisors

Education, Retirement, Moneyadvice, Investing, Savingmoney, Personalfinance, Business

4.62.8K Ratings

🗓️ 19 January 2024

⏱️ 22 minutes

🧾️ Download transcript

Summary

One of the common misconceptions we hear constantly on social media is how bad millennials have it - they have trouble building wealth, aren’t going to be able to retire, and can’t afford homes. We want to break down the biggest millennial money myths, tell you exactly why they are wrong, AND how you can win with money no matter what generation you are in.

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Transcript

Click on a timestamp to play from that location

0:00.0

Are millennials doomed?

0:02.0

Whoa ha ha ha ha! I am excited to talk about this one because I feel like there is so much hate

0:18.7

out there for my millennial brother and everyone is saying you know what

0:22.8

millennials are doomed the future does not look bright for them man they got

0:28.0

just an awful run of things and I just do not accept that I do not believe that that's true.

0:35.4

Now look despite what the comments say I am not a boomer but I did think it is

0:39.8

very important that we actually break down what are the challenges

0:46.1

what are the myths that are portrayed out there in the public sphere and what is

0:51.7

the actual reality so that people can actually know their path forward.

0:55.0

And look, we know that things are difficult out there, so we're not going to sugarcoat this.

0:58.0

We're going to talk about the actual things that might make wealth building difficult for millennials, but we want to separate the truths

1:06.5

from the actual myths, so that way you have good actionable information that you can use.

1:12.3

And I don't want young people feeling like they can't a cop. actionable information that you can use.

1:12.6

And I don't want young people feeling like they can't accomplish something.

1:15.3

That's right.

1:16.3

I think there is still so much.

1:17.3

I'm an optimist naturally and I want all of you guys to be optimist because optimist is where success lies and that's what I don't want

1:24.8

somebody giving you all of the negatives without the context so you can

1:29.4

navigate to become the best version of yourself.

1:31.3

All right Brian let's talk about this very first myth.

1:33.5

Here's myth number one.

1:35.4

millennials won't have any money at retirement.

...

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