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  #61  
Old 01-12-2018, 09:51 PM
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BTW, what ever happened to Gen Y? Just gone now, all just millennials.

I'm now technically a "millennia", I can't stomach more than 35% in equities, because in my head I'm like, well, you have to be ready to take a 30% hit, and 10% or so of total is all I can stomach #actuary
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  #62  
Old 01-13-2018, 09:32 AM
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Quote:
Originally Posted by snikelfritz View Post
BTW, what ever happened to Gen Y? Just gone now, all just millennials.

I'm now technically a "millennia", I can't stomach more than 35% in equities, because in my head I'm like, well, you have to be ready to take a 30% hit, and 10% or so of total is all I can stomach #actuary
are you afraid you'll actually sell and realize that loss? yeah, if that's the case, low equity exposure.

sounds like you're young enough to be able to ride out a lil dip and be fine if you didn't sell at the low
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  #63  
Old 01-13-2018, 10:04 AM
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People of all ages who lived through the Great Recession are more risk-averse than before.
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  #64  
Old 01-13-2018, 11:22 AM
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Eh, I think it's more they really do have less in the way of disposable income overall - though it's a bimodal distribution - there are slightly more really well-paying jobs at the top with facebook Google etc, and the bottom 90% or so of jobs are paying far less in real terms than entry-level jobs were 25 years ago. Couple that with much higher levels of student debt which is not dischargeable in bankruptcy, and higher housing costs, and they really aren't positioned to take risks like earlier generations were.

They might be more cautious, but I wouldn't say they are more cautious relative to their circumstances.
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Old 01-13-2018, 12:13 PM
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I have broke millennial friends who don’t know how to save money. They are $100k in debt from school and some can’t find a decent job.
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Old 01-13-2018, 12:32 PM
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I believe honestly that some millennials have had the social justice thing so drilled into their mind that they mistakenly view risk as the game being rigged against them. They think outcomes should all be positive and when they are negative they mistakenly believe that this is due to something outside of the risk that they took.
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Old 01-13-2018, 12:34 PM
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Quote:
Originally Posted by snikelfritz View Post
BTW, what ever happened to Gen Y? Just gone now, all just millennials.

I'm now technically a "millennia", I can't stomach more than 35% in equities, because in my head I'm like, well, you have to be ready to take a 30% hit, and 10% or so of total is all I can stomach #actuary
Just little, we have been smooshed down to like 1980-1985 or whatever. We are a micro generation between Millenial and Gen X. Grew up without internet, had it as young adults and beyond.
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  #68  
Old 01-13-2018, 12:45 PM
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Originally Posted by epeddy1 View Post
I was early in my career during the GR and I remember one guy at work (not in actuarial obviously) had most of his retirement in the company stock purchase program, had his retirement date sent, then kerplunk. He was destroyed, and it was sad.
The Hartford, huh?
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  #69  
Old 01-13-2018, 12:47 PM
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I have broke millennial friends who donít know how to save money. They are $100k in debt from school and some canít find a decent job.
Your second sentence suggests they simply can't, not that they don't know how to.
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  #70  
Old 01-13-2018, 12:56 PM
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I am more risk averse because the 2008 job market was very upsetting for me. I was working at ****ing restaurants with a math degree. I wasn't good at interviewing and it took me 2 years of passing exams and earning $9/hour to get out. I will never forget that experience and it makes me bearish on my outlook for jobs and the economy.

I'm terrified of market crashes which is also why I worked hard to get debt free. I paid down $80,000 in student loans and personal debt and I have 0 intention of buying a house and being tied up in massive amounts of debt again. I'm saving aggressively and constantly reducing my costs (which are down to $35,000 a year) to hedge against another job market crash.
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