A 36-year-old Reddit user with $85,000 in savings recently sparked a viral discussion on r/Millennials by asking a question that hit a nerve: If homeownership is out of reach, what are you doing with your money?
“I have about $85k in savings and put away $1,200 a month,” the user wrote. “I have a good income, but not enough for a bank to want to give me a mortgage.”
That comment set off hundreds of replies from other millennials who have faced the same struggle: doing everything right financially but still feeling like owning a home is a fantasy.
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Laughter, Support, and Shared Struggle
The top reply, with more than 1,300 upvotes, summed up the mood: “You have savings?”
For many, the idea of having tens of thousands stashed away is laughably out of reach. One user admitted they had only $1,200 total. Another said their savings evaporated after an unexpected dental emergency.
Then came the deeper stories. One user said they have no savings, no 401(k), and no inheritance coming: “So, probably just die at my desk at work.”
Another shared, “I’ve been able to weasel my way into some awesome stuff. I rent a big old farm house for the going rate of a studio (in my area). I’ve managed my way into a job I’m underqualified for. I count my blessings every day.”
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So What Are People Doing With Their Money?
Many are choosing to put their money into high-yield savings accounts, exchange-traded funds, or just saving for retirement in general.
“I have $180k in retirement, $50k in emergency savings at 40,” one user said. “I probably should have closer to $300k in retirement to comfortably retire.”
Others are planning to leave the country entirely.
“Maybe eventually buy a house down in Mexico,” one person wrote. “Just because sh*t is unaffordable in America doesn't mean it's like that everywhere.”
A few even joked about giving up completely: “Going to spend it on my inevitable relapse,” someone commented.
But not everyone is throwing in the towel. One said they're saving for an RV and solar panels to travel the country. Another is considering co-owning property with friends through an LLC.
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Buying Still Matters—But It’s Complicated
Some users were confused about why someone with $85,000 and a stable income couldn't get a mortgage. “Sounds pretty stupid,” one wrote. Others pointed to location: $85,000 doesn't stretch far in cities like Vancouver, Toronto or San Diego, where even condos can be out of reach.
One commenter explained, “You could buy an entire house on a piece of land in my state for 130K… no mortgage.”
That sentiment was echoed repeatedly. It's not that homeownership is dead everywhere—just in places millennials were told to chase dreams.
Letting Go Of The White Picket Fence
Beyond the dollars, a shift in mindset is happening. Some said they no longer want a home at all.
“Everyone I know who owns a home is constantly doing things around the house,” one person said. “How do they make time to do fun things?”
Others plan to stay renters forever and just build wealth elsewhere. “Rent is the maximum you'll pay, a mortgage is the minimum you'll pay,” someone pointed out.
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Hope, If You Squint
Despite the bleak tone, most replies had a sense of solidarity. The financial system may be broken, but millennials aren't giving up entirely. They're just shifting the goalposts.
“I'm saving/investing to be able to retire early. Every month matters!” one user said.
Another summed it up: “Keep saving and keep investing. You will get to where you want to be eventually.”
The dream might be dead, but the money—and the grit—is still there, at least for some millennials.
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