Plight of Millennials


          Plight and Triumph of the Millennial Generation


Even before the Pandemic Recession, Millennials were like Alice in Wonderland – they were running as fast as they could just to stay in the same place.

They were beset by Student Debt, high cost of living, housing, health care and raising children. Without secure jobs, real pay raises or guaranteed pensions, the prospect of a comfortable retirement looked dismal.

Now they’re also burdened by the Pandemic Recession, Covid-19 itself, and extreme weather caused by Global Warming; all happening at the same time.

The situation may seem hopeless, but Millennials have the ideal talents and skills to overcome all of these challenges.

For instance, sooner or later, they’ll learn that paying off the mortgage 15 years before retirement will free enough time and money for a cash nest egg that can pay half of their living expenses in retirement. With the other half paid by Social Security, their retirement dilemma is solved.

As leaders in science, medicine, and technology, Millennials have the very skills needed to defeat the corona virus, correct imbalances in the economy, and reverse Climate Change. In so doing, Millennials will become the next Greatest Generation!

The purpose of the following pages is to tell you all about this fresh approach in the New Normal. And, to provide financial calculators so you can prove it to yourself. “A pound of crop is worth a ton of theory.”


The last generation to feel this stressed was the Depression Generation. Yet, they persevered and so can the Millennial Generation.

Let there be no doubt, the hill is steep. There are actually three challenges; unemployment, pandemic, and extreme weather, i.e. global warming. All happening at the same time. Fortunately, Millennials have talents and skills that are perfectly suited to resolve these problems; science, medicine, and technology!

Science to address global warming. Medicine to cure or heal the corona virus. Technology to correct imbalances in the economy, as well as preventing the next pandemic. If there was ever a generation perfectly suited to its time, the Millennial Generation is it!


Many wonder whether the Millennial Generation is up to the task. Do they have the grit and determination of the Depression Generation? Up until now, the irony is they were relatively unfazed and untouched by national events. Even severe weather happened to other people. All of a sudden, everything has now fallen on their shoulders.

Actually, the better question is whether they’ve got enough hope?

True hope doesn’t depend on favorable circumstances or fond ambition for the future. To paraphrase the historian Christopher Lasch: True hope resides in a memory of the past when the experience of contentment and safety was so deep that subsequent circumstances to the contrary cannot dislodge it. In that regard, Millennials are hope-full. Testimony is that Millennials are already rising to the occasion.


Millennials are already addressing the Pandemic. Not only are they heroes in treating the afflicted, they’re also instrumental in finding a vaccine and cure for the Corona Virus. As leaders in Information Technology, they’ll also help us better prepare for the next one, if not prevent it from becoming a pandemic altogether.


Undoing, Redoing
In the process of resolving immediate problems, they’ll also do what the Depression Generation did for the New Deal. They’ll forge a new direction for the entire country, in what might be called the “Fair Deal.” It’ll touch every institution,
including capitalism, the economy, government, politics, cultural and social affairs. 

Some of it will happen more quicky than you might imagine, other changes will be gradual. Such changes will filter down to the personal level. Again, some will quickly adjust while others will take their time. For instance, some will quickly adjust their long term financial strategy to account for the New Normal, while others will first try to make their old strategy work. Which is perfectly understandable.

In the Old Normal, they could float the biggest debt by leveraging the smallest monthly payment. This let them buy time, letting steady pay raises make the debt look cheap. With guaranteed pensions, there was nothing to lose. Who wouldn’t want to keep that going!

However, there are neither secure jobs, steady pay raises, nor company pensions in the New Normal. Now, Millennials have everything to lose.


New Normal
If “borrow dear, repay cheap” was the
winning strategy in the Old Normal, it’s the opposite in New Normal. The strategy now is “borrow little, save much” – same as the Depression Generation. In other words, preserve cash and build a cash nest egg of your own, a safety-net above and beyond home appreciation.

Nest Egg Strategy
In the absence of real pay raises, you can’t afford to spend your entire career on debt. Instead, it’s vital to leave time and money for saving and investment accounts. More specifically, leave the last 15 years of career to invest in yourself.

During those 15 years, the ideal amount to save and invest is 25 percent of your income. If 25 percent seems outlandish, remember, the mortgage payment is usually that amount, if not more. What’s actually impractical is letting mortgage payments consume one’s entire career.

It’s more practical to pay off the mortgage by age 50-55, liberating 15 years of former payments for saving and investment accounts. That’s because it’ll create a cash nest egg that’s five times your annual income, precisely the amount Financial Planners have long insisted you need for retirement.

Such a nest egg can pay half of your living expenses in retirement, with the other half paid by Social Security. 401(k) and other retirement accounts are reserved for luxuries and spoiling the grandchildren (See Retirement Puzzle).

Thus, even though they’re beset by Student Debt and high cost of living, and still don’t enjoy steady pay raises or guaranteed pensions, Millennials can nonetheless retire with financial peace of mind.

This is the “Nest Egg Strategy,” the same one used by the Depression Generation to their great advantage. It may be a simple idea but the truth is always simple!

With a cash nest egg of their own, Millennials can finally stop running in place.


“Paying off the house” also has personal and emotional benefits: Your h
ome is more than a financial investment, after all. It’s your refuge and sanctuary. No place is more important to your health and happiness, your peace of mind. The real estate market may go up or down, but your home will be safely out of harm’s way. Nothing could be more important.

A Last Word…
The Pandemic of 2020, and ensuing Recession, broke the back of the status quo. There’s no going back to the Old Normal.

Part of this Undoing and Redoing will be recognizing the 30-year mortgage has outlived its usefulness, designed for a different era. In the New Normal, a 20-year mortgage should be the new standard. Borrowing power is only 15 percent less, but it saves 10 years of your life.

This is two-thirds of the time and money needed to build a cash nest egg that will ensure a comfortable retirement. Who wouldn’t trade 15 percent less borrowing power or a slightly higher payment for a cash nest egg that could pay half of living expenses during 20 years of retirement!

With their own retirement assured, Millennials can concentrate on becoming the leaders who solve this economic imbalance, reverse Global Warming, and develop the vaccines and treatments for the new virus that Mother Nature threatens to throw at us.

As such, they’ll deserve to be recognized as the next Greatest Generation.


There are six Navigation boxes at the bottom of this page, each addressing a separate subject. There’s no progression or order of reading. Their purpose is to round out the story, showing how the Nest Egg Strategy fits in the big picture.


Free Service
This web site and its online calculators are offered as a free service. Purpose of calculators is to tell homeowners how much their former mortgage payments are worth as investment capital, and how much they can withdraw every month in retirement. As farmers would say, “a pound of crop is worth a ton of theory.”

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About Us
The Nest Egg Strategy is the product of more than three decades of research and development, which included two books. (See About Us page.)

A new book, “The Nest Egg Strategy” will soon be published. (See Book section if you wish to be notified by the publisher.)