Traditional Retirement Savings Advice Is Useless For Millennials. Here’s Why

Traditional Retirement Savings Advice Is Useless For Millennials. Here’s Why

On November 1, Jean Chatzky, financial editor for The Today Show, posted a tweet about retirement saving goals. She wrote, “By the time you’re 30, aim to have 1x your annual income set aside for retirement. At 40, 3x; at 50, 6x; at 60, 8x; and by retirement, 10x.” The tweet struck a chord with me because as a near-30-millennial, I’m admittedly insecure about my retirement savings. At the moment I have $3,876 in my retirement savings account, which is 12% of my current annual salary. By the time I’m 30, if I keep saving the way I have, I’ll have managed to put away 50% of my annual income. According to Jean’s goals, I’m very behind in my savings. Turns out I’m far from alone. Continue reading “Traditional Retirement Savings Advice Is Useless For Millennials. Here’s Why”

Millennials Are Slowly Killing Salary Secrecy — And That’s A Good Thing

Millennials Are Slowly Killing Salary Secrecy — And That’s A Good Thing

Talking about your salary can be incredibly taboo, but that’s not necessarily true for millennials. A survey conducted by The Cashelorette found that 63% of millennials ages 18-36 have shared their salaries with an immediate family member, 48% have shared with friends and 30% have shared with co-workers. Only 41% of baby boomers ages 53-71 have shared their salaries with an immediate family member, 21% have shared with a friend, and 8% have shared with a coworker. Continue reading “Millennials Are Slowly Killing Salary Secrecy — And That’s A Good Thing”

It’s Time To Kill The Fantasy That Is Work-Life Balance

It’s Time To Kill The Fantasy That Is Work-Life Balance

In an interview with CNN’s Christine Romans, Martha Stewart said work-life balance didn’t work for her. “It’s one of the most difficult things to do; that balance, which is so elusive to most of us. It didn’t work for me. I thought, ‘Oh, I can do it; I can do all of that.’ I had to sacrifice a marriage because of the lure of the great job… It’s impossible for most of us to get that balance.” If Martha Stewart can’t do it all, can anyone? I went to social media to see what folks out in the real world had to say about work-life balance. Their answers were refreshing, and some really great themes emerged from their responses. Continue reading “It’s Time To Kill The Fantasy That Is Work-Life Balance”

Hi there!

Hi there!

Hello and welcome to JessicaILutz.com! With 2018 fast approaching, it felt like time to unify my online presence and get organized. As soon as November hits I always get really motivated to get organized, make plans, and strategically think things out. This year was no exception. With so many changes in 2017 (we bought a house and got married!) it felt fitting to go ahead and tune up my online presence too.

In a past life, I ran JSeeksJoy.com, and there will always be a part of me that is seeking joy. J Seeks Joy served a very real purpose in my life and was exactly what I needed for a few years. If you ever get nostalgic, I’m leaving the site up for now so you can go visit any time.

Thanks for being here! I look forward to getting this new site up and running and starting 2018 off strong.