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re: Another shaky sign of a lost generation: Welcome to the #YOLO economy
Posted on 5/15/21 at 8:08 am to SlowFlowPro
Posted on 5/15/21 at 8:08 am to SlowFlowPro
Taking huge risks is how innovation and success occurs I don’t see this as a bad thing
2
Posted on 5/15/21 at 8:14 am to deltaland
quote:yea , but “huge risk” now means putting everything on Doge Coin, AKA the roulette wheel. Not, “I’m going to start a company and better myself”.
Taking huge risks is how innovation and success occurs I don’t see this as a bad thing
Posted on 5/15/21 at 8:20 am to SlowFlowPro
quote:
But many seem related to a deeper, generational disillusionment, and a feeling that the economy is changing in ways that reward the crazy and punish the cautious.
We called those bagholders back in my day
Posted on 5/15/21 at 8:21 am to SlowFlowPro
quote:
And they see people who do get rich "right now" and it's hard to not want to dangle your toes in those waters.
I’ll say it until the day I die that dawn of social media was the real world’s Skynet coming online. For every social media “personality” pulling in a quick $10,000 per month or more after taxes are thousands of viewers jealous and wanting that same success immediately. It’s infiltrated every aspect of society and we keep going further and further down the rabbit hole.
Posted on 5/15/21 at 8:21 am to wutangfinancial
Go into the trades. Simple.
But many believe blue-collar jobs are beneath them.
But many believe blue-collar jobs are beneath them.
Posted on 5/15/21 at 8:23 am to lsu777
quote:
Man I usually agree with you, but not on this one. I have slowly built wealth and am able to build my dream home. I'm same age as you btw.
Do you live in or near a major city?
Posted on 5/15/21 at 8:24 am to Muthsera
quote:
No vacations every year
No $800/mo car note
No kids before we got married
No new clothes every season
No cigarettes or drugs
No weekly or nightly bar tab
Christmas and Birthdays combined cost < $500
Sounds like a hoot.
Posted on 5/15/21 at 8:27 am to SlowFlowPro
quote:Well they don’t really exist unless you live in a very small town or rural
Nobody wants "starter homes" these days
It’s very hard to find a “starter home” in Baton Rouge or Nola these days. The prices of smaller homes don’t match the salaries of those cities
An old, ugly small house will still run you 200-300k
This post was edited on 5/15/21 at 8:28 am
Posted on 5/15/21 at 8:30 am to lsupride87
Older Gen X and younger Baby Boomers in the NOLA area had to go through the dot com bust, Hurricane Katrina, 2008-2009, and Covid, all during their earning years.
This post was edited on 5/15/21 at 8:32 am
Posted on 5/15/21 at 8:30 am to SlowFlowPro
quote:
The entire point is that you can't compare the generations. In terms of economic growth/stability, Millennials have it incredibly worse. Older millennials like me are absolutely fricked, long-term.
If you make low 6 figures you're putting over 15k a year into a retirement plan you're never going to see.
That's devastating for millennials and young gen x
Posted on 5/15/21 at 8:31 am to lsupride87
quote:
An old, ugly small house will still run you 200-300k
Yep. I've seen a ton of these. Built in the 70s, and built small.
Posted on 5/15/21 at 8:31 am to lsupride87
Millennials are more spoiled than the prior two generations by a long shot. Gen X and peak earning year boomers didn't have their jobs floated by the Treasury. Crying millennials are so pathetic. Muh static income inequality 
Posted on 5/15/21 at 8:32 am to SlowFlowPro
quote:
people about 28-40 (the "millennials") have had their economic future destroyed, effectively. Now, with the pandemic economy, basic staples like housing are being dragged out of reach. The traditional path has been largely eliminated so what is there
Most haven't had anything destroyed. Unless you sold at the market bottom equities have greatly appreciated during this crisis. If you saved and invested over the past 10-15 years nd didn't panic sell you'd be doing great. Looming threat of inflation is a major concern going forward but that will hurt those nearing or in retirement too. We have more access to information, low cost investments, and higher education than ever before. Boomers and previous generations faced signifigant barriers to college access and investments than I did as Gen X. Sure, most people don't have pensions today but that gives them more freedom and leverage to change employers. Success is there for the taking if you make smart choices and wait to enjoy the fruits until after you've accumulated some wealth. It's not YOLO or nihilism. Rather, it's jealousy and lack of perspective.
Posted on 5/15/21 at 8:33 am to wutangfinancial
quote:This is such a sad angry post
Millennials are more spoiled than the prior two generations by a long shot. Gen X and peak earning year boomers didn't have their jobs floated by the Treasury. Crying millennials are so pathetic. Muh static income inequality
Posted on 5/15/21 at 8:35 am to lsupride87
The system is broken while I love the highest standard of living in human history!
Posted on 5/15/21 at 8:36 am to 9Fiddy
quote:
I’ll say it until the day I die that dawn of social media was the real world’s Skynet coming online.
It has changed the world and we were not and still are not prepared to handle its impacts. I would say it is the primary driving factor to most everything discussed in this thread. It has removed the filter of responsible/reasonable people and cultivated a society that is unstable and reactionary instead of proactive and stable.
It's hitting us in the way that automation is hitting our workforce. It is effecting us much more quickly that we can adapt to it.
This post was edited on 5/15/21 at 8:38 am
Posted on 5/15/21 at 8:38 am to wutangfinancial
quote:Im not sure why you are so mad
The system is broken while I love the highest standard of living in human history!
The entry level job market, and price market for just about anything, is harder on millennials than anyone else
This is just objective economics. It is so strange why older people just don’t have the testicular fortitude to admit this
That doesn’t give anyone an excuse for being lazy, it’s just facts
This post was edited on 5/15/21 at 8:39 am
Posted on 5/15/21 at 8:39 am to TorchtheFlyingTiger
quote:
If you saved and invested over the past 10-15 years nd didn't panic sell you'd be doing great.
Most millenials were still in HS or barely out of college 10-15 years ago.
quote:
Unless you sold at the market bottom equities have greatly appreciated during this crisis.
Millennials probably didn't have enough capital to take advantage as much as boomers.
quote:
Boomers and previous generations faced signifigant barriers to college access and investments than I did as Gen X.
Boomers complaining about college access is hilarious when so many of that generation got really good high paying jobs WITHOUT a college education. Millennials have to have a degree for almost every job boomers were able to get with only a HS degree.
quote:
Sure, most people don't have pensions today but that gives them more freedom and leverage to change employers.
This meme is so alive here and I think Millennials have a shite entitled attitude, but their situation is definitely partly a product of Boomer decision making over decades.
Posted on 5/15/21 at 8:41 am to Turbeauxdog
quote:
If you make low 6 figures you're putting over 15k a year into a retirement plan you're never going to see.
What do you mean? 401(k)s and IRAs are getting taken away?
Posted on 5/15/21 at 8:41 am to lsupride87
quote:
The entry level job market, and price market for just about anything, is harder on millennials than anyone else
This is just objective economics. It is so strange why older people just don’t have the testicular fortitude to admit this
That doesn’t give anyone an excuse for being lazy, it’s just facts
Correct. There's no excuse for lazy and entitled, but millenials didn't decide that education to industry arrangement get structured in the way that it is, nor did they decide how the financial institutions were structured.
Just look at the average age of politicians.
This post was edited on 5/15/21 at 8:42 am
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