Hi, everyone. In today’s news, we learn about the culture of semiretired youth. What does the weakest bond auction in a decade mean for our economy? A study shows that 68% of millennials prefer credit cards with benefits. ‘American Ninja Warrior’ host talks about the virtues of living within your means. And learn what the average 401(k) balance s by age.
Mr. McMullen, 33, is part of an exclusive club: the semiretired tech millennial who left California after getting rich. Like many in this group, he is a newly minted multimillionaire who became wealthy by working for high-profile San Francisco start-ups like Uber and Lyft, which are now about to go or have just gone public.
The U.S. Treasury on Wednesday saw the weakest demand for its benchmark 10-year note in a decade, illustrating the diminishing appetite among some investors to accept current yields.
It seems every week that credit card companies are upping their rewards, adding new perks and rolling out brand new cards. That’s likely because these companies know that Americans, especially millennials, like splashy credit card rewards. About a third of millennials (ages 23 to 38) say they find cards with 3% cash-back rewards most appealing, followed by 22% who would opt for cards with a $500 sign-up bonus.
Gbajabiamila’s parents, who emigrated from Nigeria in 1974, were both business owners. His father owned a plumbing business and his mother had her own hair salon. They instilled in him the importance of saving money. “I can hear them in their Nigerian accent: ‘You better save for a rainy day, save for a rainy day,'” he said. “And to me that was the foundation of my financial literacy.”
Any mental health professional will tell you that comparing yourself to others isn’t good for peace of mind. However, when it comes to retirement savings, having an idea of what others do can be good information to know. It can be hard to determine how much you’ll need, exactly, for your own post-career days, but finding out how others are planning – or not – can offer a benchmark for setting goals and milestones.