The Haves: 401 Whats?
Student loans are possibly the biggest low of getting a higher education when you realize you’re in a job that doesn’t make enough to pay back said loans. Unless of course you’re one of the privileged who still bank on parental units, if not you’re in the broke category of life. All of that said, we’ve already talked about each of those, so today we’re focusing on a sector of people I am the furthest from, the people whose savings accounts allot them to lead a life where finances are never really an issue. They rarely have to check their accounts on their phone to ensure they can pay for a refill at 7-Eleven. These people have a 401k, and actually know what that means. I on the other hand will admit right now that I had no clue and actually had to look it up while at the library. Which thanks to Ellie Williams’ All about Your 401k Plan: Simple Answers to Securing Your Financial Future, I learned it was when your job takes money from your check and puts it towards retirement. When you’ve never had a “real” job, this is an absolutely foreign concept.

While the have nots will always count their change to buy a coffee, the haves never have to care about this aspect of life. They likely don’t rent, but rather own or are on their way to owning their own home. They only rely on their parents for emotional support, and can actually loan their family money instead of standing there with a “will work 4 food” sign at family functions hoping an old aunt dishes some cash out. The haves are the adults most of us look at with admiration because when your number one source of stress is money, those who don’t have to worry about such things are like aliens you wish to be. Nevertheless, while they may get to vacation more often on their own dime and have mortgages rather than rent due, they’re human too. And with that, they have to face the other crap just like the rest of us.
Just because your bank account doesn’t look like a college freshman with a part time job anymore, it doesn’t mean you’re free from all the crap life can toss your way. You can have a wad of cash in your wallet and still feel like shit. Yes, you could join a gym easier but who’s to say you still won’t have low self-esteem issues? What about a family death and dealing with the emotional toll that takes? All the money in the world can’t bring back a loved one. So yes, people with money are void of one very large source of turmoil in this world, but money doesn’t barricade them from the rest of the shit that we deal with as humans. Look at Shark Tank’s Robert Herjavec. We’ve all seen the intro to the show and know how much he’s worth but when he went through his divorce – that money didn’t stop him from thinking about taking his own life. Money may make life easier in a lot of ways, but at the end of the day – we’re all dealing with our own pile of crap.

The Highs and Lows of Being Part of the Haves

  1. The Economic Collapse noted in 2011, 53% of Americans under the age of 25 with a BA were either unemployed or underemployed. So that means more than half of them were the have nots.
  2. Quora said the median income for people between the ages of 28-32 is about $20k. If you make that and live in a major city, you’re basically homeless.
  3. If you’re a physician assistant, actuary, statistician, biomedical engineer or a computer research scientists – it’s likely you’re doing amazingly well compared to your friends who aren’t any of these things because according to Monster, these are the best jobs for millennial.
  4. According to Bank Rate, there are a number of ways to have that retirement fund; save, 401k, and more.
  5. Back in 2012, 52 million Americans had a 401k.

We’ll hopefully be talking to a woman who is doing fine with her finances but she’s got a lot on her plate as far as life’s concerned, we’ll continue to explore my lack of knowledge when it comes to 401whatevers, pop with some culture and look at the best places the haves can afford to retire to when the time comes.


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