Today’s blind item comes from a MNN article about young professionals and their spending and saving habits.
Apparently Gen-Y is pretty spend-thrifty. The reporter spoke to a number of young professionals who are saving a lot more than they did a few years ago.
One of those people is an anonymous hedge funder who didn’t want to be identified for obvious reasons.
One 28-year-old man who declined to be named because he is a hedge fund vice president said five years ago he kept about 10 per cent of his finances in cash. Now, he keeps 70 per cent.
Whoever he is, he must be making a lot if he’s only spending 30% of what he makes. Most Americans spend what, 95% of their paychecks?