Refresh this page to randomly rotate these finance tips and thoughts from Mike on money.
Mike’s Finance Tips
😨 Millennials spend $838/month on nonessential items.
👎 49% of millennials said nonessential spending contributed to their credit card debt.
📈 Instead take 1/2 or even 1/3 of that monthly spending & leverage it into investments that will produce income for YOU later in life.
Mike’s Thoughts on Money
The average 401k only has a median value of $65,000. Yes, SIXTY FIVE THOUSAND.
For a 65-year old person who wants to retire, $65,000 dollars is a joke.
Even if you also have social security benefits, SSI is only funding about 40% of your living expenses.
Wall Street has been looting the 401ks that people think will save them when they retire.
Don’t keep doing what the majority of people do — They blindly contribute to a 401k, invest nothing, buy no assets, have no financial plan, and blame the government when they go broke.
Disclaimer: This finance tip was written for educational and entertainment purposes only. This is NOT financial advice. Always do your own research and please consult with a licensed attorney before making any serious investment. We are not responsible for any investment decisions that you choose to make.