I came across this recent article on Munchies.Vice by Nick Rose that examines the results of a recent survey by investing app acorns.
The entire article can be found here.
At first, I was genuinely shocked at the finding that Millenials are spending more on coffee than retirement!
Then I pulled up my own banking information and was again equally shocked - as prudent I thought I had been towards savings - turns out I still enjoy my coffee today much more than my spending tomorrow.
What are your thoughts? Have you fallen into the same trap?
I wonder if there is a difference if we look at all savings, not just retirement. If we are consuming more coffee than we are putting away for retirement - is the same true for what is being saved for down payments for first homes?
If so, that dream of home ownership seems to be slipping further away. But then again, maybe I can just drink some coffee, enjoy today, and the BC government will finance my downpayment for me!
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Coffee? RRSP's?
ReplyDeleteWho needs that when you have pizza and beer?