People My Age Are Stupid

…so says a new report by the AARP. In a survey of folks ages 19-39, the majority of them didn’t seem to be worried about credit card debt, or the fact that they weren’t saving enough for retirement.

I’m glad that I surfed on to An English Major’s Money blog about two years ago. I don’t remember how I got there, but reading her blog and other PF blogs made me feel more confident about investing and saving. I was almost too ashamed to invest or save at that point, given that I had money tucked away already. But then I realized how I needed to start making that money work for me, and not to feel bad for doing so.

But most 20-somethings are dumb about these things. If they’re lucky, they’ve got an employee-sponsored 401k plan with match, and they contribute some of their earnings to that because their employer recommended it and salesman from mutual fund firms came and pitched the horrors of not being prepared for retirement in order to sell their high-fee funds. Unlucky and they’d be in credit card debt with no savings, no “emergency fund,” and definitely no retirement fund for the future.

I’m so grateful to the personal finance blogging community for getting me on the right track.

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3 thoughts on “People My Age Are Stupid”

  1. Don't get too concerned about people in their 20s or 30s not saving for retirement. I didn't start until I was about 45 and I will be okay.A happy retirement is dependent on a number of factors as detailed in my book How to Retire Happy, Wild, and Free: Retirement Wisdom That You Won't Get from Your Financial Advisor.In Chapter 1, I give eight good reasons why the large majority of retirees, whether they live in Canada, the U.S., or other Western nations, can live on far less than 80 percent of their pre-retirement income. Indeed, government statistics indicate that retirees live comfortably on 45 percent to 62 percent of their pre-retirement income.For those interested, I actually give away over half of How to Retire Happy, Wild, and Free – the top half – on my webpage Creative Free E-books .Ernie Zelinski Author of: How to Retire Happy, Wild, and Free (Over 85,000 copies Sold and Published in 7 Foreign Languages)Featured on The Retirement Quotes Caféand The Joy of Not Working: A Book for the Retired, Unemployed, and Overworked(Over 225,000 copies Sold and Published in 17 Languages)Featured on The Joy of Not Working Website

  2. I know what you mean. I ws out o ao work for a while so looked into being frugal and making the most of the money that I had. Then my husband was made redundant and I started researching how to invest wisely. I made some mistakes but now in my mid thirties I feel that we have the balance right.

  3. I totally agree! The pf blogging community has really opened my eyes to making the most out of my small pay check.

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