What broke the American Dream for Millennials
CNN
Rachael Gambino and Garrett Mazzeo planned their financial life by the book: They went to college, paid down debt, saved aggressively, got married, bought a house, started a family. The dream.
Rachael Gambino and Garrett Mazzeo planned their financial life by the book: They went to college, paid down debt, saved aggressively, got married, bought a house, started a family. The dream. But sitting at the kitchen table of their suburban Pennsylvania home — an asset they feel both lucky to own and also somewhat trapped by — they say they wouldn’t do it all over again quite the same way. For their nine-month-old son, Miles, Rachael and Garrett agree: They’re not going to push him to pursue the same path. “I think a lot of Millennials were forced into saying, ‘you need a four-year degree in order to be successful,’” says Rachael, who is 33. “At 18, you’re signing up to be $100,000 in debt before you even really know how to make the best decisions for yourself. I think we need to change that narrative.” Rachael and Garrett know how lucky they are, both having steady work and parents whom they were able to live with temporarily while they saved for a down payment. Critically, they also have a tenant: Rachael’s younger sister, Kristen Gambino, 26, moved in shortly after they bought the house in 2022, helping them pay the mortgage while saving herself from an increasingly unaffordable rental market. But the couple still feels like they’re on a knife’s edge. Their day-to-day lives are dictated by a spreadsheet where Garrett, 35, meticulously manages every dollar coming in and out.
Thanksgiving dinner will cost less this year than last but will still be 19% higher than before the pandemic, according to the American Farm Bureau Federation’s annual Thanksgiving survey out Wednesday.
Comcast is planning to spin off most of its cable television networks, including MSNBC and CNBC, into a separate publicly traded company, according to executives with knowledge of the plan.
Conspiracy theorist Alex Jones has sued a court-appointed bankruptcy trustee and the families of some of the Sandy Hook victims in an attempt to stop the sale of his media empire Infowars to the satirical news outlet The Onion.
The cat’s out of the bag: Jaguar has unveiled a new logo that emphasizes its posh pronunciation as it transitions into a “new era” that emphasizes its all-electric vehicle lineup.
Markets sold off Tuesday as geopolitical tensions escalated between Ukraine and Russia.
Protesters opposed to Tesla’s expansion of its plant near Berlin were holding out in trees Tuesday as German police sought to clear their forested camp.
Jersey Mike’s Subs is selling a significant stake to private equity giant Blackstone, ending its nearly seven-decade run as an independently owned business that transformed into a major competitor against well-entrenched competitors like Subway.
Walmart’s business is surging. Customers making more than $100,000 a year are fueling the growth.
The president-elect’s plan to deport millions of undocumented immigrations may backfire, driving up the cost of homebuying even further.
In the first quarter of this year, the price of bitcoin broke records in the wake of approval by the Securities and Exchange Commission for the first exchange-traded spot bitcoin funds. The cryptocurrency topped $70,000 in March, according to coinmarketcap.com.
Donald Trump is returning to the White House without many of the guardrails of his first term.