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Expert Liz Ryan Believes Savings Alone Can't Rescue Young People from Financial Struggles

Liz Ryan questions the efficacy of saving as a sole strategy for securing one's future.
Cover Image Source: Pexels | Photo by Karolina Grabowska
Cover Image Source: Pexels | Photo by Karolina Grabowska

In a world where financial wisdom is often synonymous with personal finance management, Liz Ryan, the acclaimed author, and HR expert, breaks the silence on a widely accepted notion. The idea that young people can 'personal finance' their way out of poor wages and exorbitant rents is, according to Ryan, a myth perpetuated by a system that is inherently rigged against them.

Pexels | Photo by Karolina Grabowska
Pexels | Photo by Karolina Grabowska

Ryan, in a now-viral tweet, challenges the conventional wisdom surrounding financial management. She questions the efficacy of saving as a sole strategy for securing one's future, emphasizing how the system itself creates insurmountable obstacles for those belonging to the working-class stratum of society. The tweet strikes a chord as it unearths the harsh reality faced by many young individuals who diligently save, only to find themselves thwarted by a system that seems indifferent to their financial struggles.

"I paid $310 for my first apartment. Based on inflation, it should go for $850 per month now, but the rent is $1600," Ryan states, highlighting the disproportionate surge in living costs compared to the rise in wages. This anecdote paints a vivid picture of the stark contrast between the demand for real estate and the earning capacity of the working class. The widening gap, as per Ryan, cannot be bridged through mere financial management.


The tweet not only resonated with the online community, amassing 108.5k likes, but it also found a home on Reddit, where users echoed their struggles with the system's inherent greed. One user, @Tengushee, agreed with Ryan's assertion, labeling suggestions on financial management in the current environment as illogical. According to them, this advice might have had relevance in the '70s, but it has lost its efficacy in the face of evolving economic dynamics.

@RevolutionaryLie2833 shared a personal account on Reddit, shedding light on the exploitative nature of landlords during challenging times like the COVID-19 pandemic. The user narrated how, amidst widespread losses, landlords unabashedly hiked rents by almost $500. This anecdote further accentuates the harsh reality that the authorities often prioritize their gains over the welfare of the citizens.


Ryan's plea for an end to preachiness directed at young people regarding saving becomes increasingly relevant in this socio-economic context. The illusion of personal finance as a panacea for financial struggles is shattered, and the harsh truth emerges, no matter how diligently individuals save, the unbridled greed displayed by various forces at play renders their efforts futile. Amid this economic conundrum, Ryan's call for a shift in priorities gains momentum. The tweet's appeal lies in its ability to unmask the societal indifference toward its people, urging individuals to reassess what truly matters. Perhaps, as Ryan suggests, the focus should shift from amassing wealth to cultivating meaningful relationships, cherishing moments, and building a life that transcends the monetary pursuits advocated by society.

As the tweet gains renewed attention on platforms like Reddit, it sparks a collective realization that the traditional approach to personal finance is in dire need of reevaluation. @RevolutionaryLie2833's account, alongside others, serves as a testament to the urgency of addressing the widening gap between wages and living costs. In a society where the system's insatiable greed often outpaces individual efforts, the question arises—can personal finance alone pave the way to financial security? Ryan's resounding 'No' challenges the status quo and encourages a collective reconsideration of societal priorities.

NEW YORK, NEW YORK- AUGUST 31: People walk past an apartments for rent sign as the city continues Phase 4 of re-opening following restrictions imposed to slow the spread of coronavirus on August 31, 2020 in New York City. The fourth phase allows outdoor arts and entertainment, sporting events without fans and media production (Photo by John Lamparski/Getty Images)
People walk past an apartments-for-rent sign in New York City. | Photo by John Lamparski | Getty Images

Liz Ryan's viral tweet serves as a wake-up call, prompting individuals to question the efficacy of the age-old advice on personal finance. The stark reality portrayed in the tweet and echoed by individuals across various platforms underscores the need for a paradigm shift. It's time to move beyond the illusion that saving alone can rescue young people from the clutches of poor wages and steep rents. As the online community engages in a discourse sparked by Ryan's revelations, the hope for a more equitable and compassionate economic landscape takes center stage. The focus may shift from managing finances to demanding a system that works for the benefit of all, ensuring that the pursuit of happiness is not overshadowed by the relentless pursuit of wealth.