That's because the majority are in heavy credit card debt.

Uhh what, $80k in LA is like minimum wage. Dead srs. I’m amazed he even has $1500

Damn that sucks. Why don't you buy coachella tickets and vote for politicians who make life more expensive about it?

you gotta pay ur dues before you expect to earn top dollar in life Son's. no doubt some people will get there faster than other's but in the meantime Hustle on the side - Cheers Bish's

Top 0.1% of millennials crew checking in

My theories on why you got such a huge refund:

1.) You have a large family and claim a ton of dependents and are so poverty you get a ton of earned income credit (The maximum amount you could get for this is 6.5k)

2.) You withheld estimated tax payments based on either prior year income or your estimated income for 2018, but the mileage deduction you got from driving for lyft was so much that your actual taxable income was dramatically lower than what you made the estimated tax payments on

Realistically theory 1 goes hand in hand with theory 2 because you aren't eligible for 1 if you have any significant taxable income throughout the year. Also, to be eligible for EIC your investment income has to be pretty low, so if i am correct about part 1, you aren't managing your money very well.

Any real CPA's on the misc confirm/deny the likelihood of these theories?

This isn't just a generational problem, most americans are fukin retards when it comes to managing their finances.

There is definitely some truth to saying the previous generation, specially parents, failed to educate their kids. However that is only part of the equation. If you're 20 something and have never bothered to do some research about budgeting, is it not as much your fault if you can't come up with 500 bucks to pay taxes?

Recognizing the failures of past generations can be a useful tool, but only if used to make better informed decisions ourselves, namely not making the same mistake when it comes to our children's education. Beyond that any effort spent on playing the blame game is simply wasted, use that energy to enhance your life instead of being a victim.

because netflix, spotify, iphone, macbook, car payments, student loan payments, coffee twice a day, eating out, travelling, credit card debt, excess amount of clothes and footwear, exorbitant phone bill for their ridiculous data and social media needs...

im sure this doesnt apply to all of them, but it likely applies to a good chunk. and for them, i have no sympathy

No offense, but a lot of people like you are pretty ignorant. You can live at minimum 40k a year in LA comfortably if you manage your money and live 7+ miles outside of L.A city. If you are lucky you can live in the prime area of Mid-Wilshire/Hollywood area for even 1k a month srs. How? Ask my parents they rent their back house for 1.2k a month in that area LOL lucky bastards living there.

These are the stocks I acquired just for my brokerage account in 9 months. I'll be firing another $15k bullet in a month or so. Funniest thing I've heard all week, lmao

You cucks definitely need to be listening to the advice I give on here