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re: This depressing chart shows the jaw-dropping wealth gap between millennials and boomers
Posted on 12/5/19 at 2:58 pm to Salmon
Posted on 12/5/19 at 2:58 pm to Salmon
quote:
...they are comparing wealth at 35 for both groups
But wouldn't you say most Boomers were comparatively further along in their career at 35 than most millennials? I would be interested to see if the study says at what age the average Boomer entered the workforce compared to the average millennial
1
Posted on 12/5/19 at 2:58 pm to LSUFanHouston
quote:
Indeed, at a median age of 35, Gen Xers owned just 9% of the nation’s wealth in 2008 — less than half what boomers had at that age.
quote:Why? GenX is a much smaller population segment. It would be like saying —given 100 people. 15 people own less of the nations wealth than 40 other people.
But what I just quoted is really concerning.
You took the bait.
This post was edited on 12/5/19 at 2:59 pm
Posted on 12/5/19 at 2:59 pm to dawgfan24348
quote:
and have millennials fight their wars
You know boomers were in vietnam.
Posted on 12/5/19 at 2:59 pm to JohnnyKilroy
quote:
Yes. As has been said in every single one of these threads, complaining that you shouldn’t be considered a millennial despite being born in the widely accepted “millennial” range is the most millennial thing ever.
It doesn't help that boomers refer to any kid as a millennial, they never had a clue what the generation range was either. Zoomers are the new kids, people are finally catching on to that term.
quote:
You know boomers were in vietnam.
Explains a lot too.
This post was edited on 12/5/19 at 3:00 pm
Posted on 12/5/19 at 2:59 pm to jchamil
Posted on 12/5/19 at 3:00 pm to Mad Dawg 2020
quote:
That combined with perpetually better medicine means everyone will be able to sit on their wealth longer due to increased lifespan.
This is a good point also. What was the average age of death 50 years ago compared to today? What percentage of boomers would have been dead given their current health 50 years ago? Quite a high percentage I'd bet. So all that wealth would have been passed to another generation.
This graph definitely has a bunch of BS built into it. As said also already, boomers started working much earlier then current generations. They also didn't have a huge generation of wealth in front of them. The generation in front of the boomers when the boomers were 35 was very poor.
Posted on 12/5/19 at 3:01 pm to LSUFanHouston
quote:It is amazing how much wealth they have, yet so many of them have limited or no retirement funds.
This may be just a delay in wealth transfer because Boomers won't die and won't quick working (compared to whom the Boomers inherited their wealth from)
Posted on 12/5/19 at 3:01 pm to hubertcumberdale
There’s still gonna be nearly 20 million boomers around in 2050?
This country is fricked.
This country is fricked.
Posted on 12/5/19 at 3:02 pm to baldona
quote:
They also didn't have a huge generation of wealth in front of them. The generation in front of the boomers when the boomers were 35 was very poor.
They didn't need the huge generational wealth, college was exceedingly cheap along with housing. They completely decimated these things for everyone after them. Just look at the price of college at Harvard and Yale during their college years.
This post was edited on 12/5/19 at 3:04 pm
Posted on 12/5/19 at 3:04 pm to hubertcumberdale
But, but, but boomers have saved NOTHING!!!!
Posted on 12/5/19 at 3:04 pm to hubertcumberdale
These young kids dragging down my scores
Posted on 12/5/19 at 3:04 pm to VABuckeye
Most haven’t.
Hopefully they acquire a taste for cat food in their twilight years
Hopefully they acquire a taste for cat food in their twilight years
Posted on 12/5/19 at 3:04 pm to Scruffy
quote:
It is amazing how much wealth they have, yet so many of them have limited or no retirement funds.
Scruffy, ask yourself where their wealth is being held then? Personal homes? Savings accounts? Betamax recorders?
Posted on 12/5/19 at 3:05 pm to Dam Guide
quote:
Boomers had it easy
Not a Boomer but I wouldn't say they had it easy. They sure as hell weren't lazy, that's for sure.
Edit: Well at least they aren't so lazy to keep them from downvoting
This post was edited on 12/5/19 at 3:08 pm
Posted on 12/5/19 at 3:09 pm to Strannix
quote:
Gen X here wife is a millenial, we are fine, not sure who you want to blame being poor on?
Same here, people should make better choices
Posted on 12/5/19 at 3:09 pm to hubertcumberdale
Yet most boomers have the poor
Posted on 12/5/19 at 3:09 pm to hubertcumberdale
Dont believe everything you see on the internet, silly Boomer.
Posted on 12/5/19 at 3:10 pm to LCA131
quote:Honestly, none of the above.
Scruffy, ask yourself where their wealth is being held then? Personal homes? Savings accounts? Betamax recorders?
That generation has been living on credit, which is why can’t stop and retire.
They are broke.
Posted on 12/5/19 at 3:10 pm to Dam Guide
quote:
They completely decimated these things for everyone after them.
Why/how would it benefit boomers to have tuition skyrocket after they were out of school? Their kids were IN school?
Posted on 12/5/19 at 3:12 pm to Scruffy
quote:
That generation has been living on credit, which is why can’t stop and retire.
They are broke.
Didn't the graph show how much wealth they have? Do they have wealth or are they broke?
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