Is this a joke?

"Millennials are not falling for these lies any longer."

I think most Millennials still buy fashion and Instagram food. I don't think many Boomers are on Instagram. Cars, well not everyone lives in a place where pubic transit or ride hailing is a good choice for transportation be you Gen X, Millennial or Boomer.

Yes, Boomers were more concerned about status than almost anything. Many spent themselves into the poor house hoping that someone would envy them. Human nature being what it is, many Millennials still fall for this trap.

You and many others look at savings accounts all wrong. How much interest they pay is not important. Savings accounts are where you put disposable income to accumulate enough in one pot to the invest it in something more long term. Could be crypto or it could be the down payment on a car or it could be a stock or bond.

Yes, commission free trading and fractional stock investing along with ETF's have made it possible to skip the savings account step but having some money in the form of cash for emergencies is a good idea. Money that is FDIC insured is a buffer against crisis. I keep most of my emergency cash in my checking account because the rate of interest is not important what is important is liquidity. If you need money right now for something, nothing is more liquid that a checking account balance. I think most Millennials know how to write a check and balance a check book, am I right? I don't write many checks any more but my cash flows through my checking account, electronically. Having to borrow money in an emergency will keep you poor. Borrowing money using a credit card will keep you poor. Having to sell your Bitcoin to pay the bills will keep you poor. What is the interest rate if you borrow against your Bitcoin holdings? Someone will do that right?

TEK