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Started By
Message
re: CNN - What broke the American Dream for millennials.
Posted on 1/19/24 at 4:39 pm to SneezyBeltranIsHere
Posted on 1/19/24 at 4:39 pm to SneezyBeltranIsHere
quote:
No one should ever take out a car loan or a home loan
Never fails around here
0
Posted on 1/19/24 at 4:40 pm to Bunk Moreland
This post was edited on 2/1/24 at 6:57 pm
Posted on 1/19/24 at 4:45 pm to Bunk Moreland
Left wing radicalism
Posted on 1/19/24 at 4:45 pm to Bunk Moreland
quote:
by the book: They went to college, paid down debt, saved aggressively, got married, bought a house, started a family. The dream.
As with any book, you can't believe everythign they tell you nor take it too literally.
Lots of folks going to college that is too much money, wrong/useless minor (film studies???), marry the wrong person or too early, start a family when not ready, buy a POS house or too expensive house...
I don't know what Rachael and Garrett do, but if they are both Ivy League film studies majors in a $1m house and making a wicked combined $100k/year... What can I tell you. Bad idea.
Posted on 1/19/24 at 4:47 pm to Bunk Moreland
quote:
“I think a lot of Millennials were forced into saying, ‘you need a four-year degree in order to be successful,’” says Rachael, who is 33. “At 18, you’re signing up to be $100,000 in debt before you even really know how to make the best decisions for yourself. I think we need to change that narrative.”
Such horseshite, especially 15 years ago when she started college. At least in Georgia. Costs about 1000 a month to house and feed a college kid. Tuition and fees are <8000 a year at any of the state schools. A person can reasonably/easily earn 5-10k of that 20k per year (tuition/food/housing) thru work. So max a student needs to borrow is 60k, not 100k and that’s in todays dollars, not 2008 like this lady is talking.
Posted on 1/19/24 at 4:57 pm to tadman
This post was edited on 2/1/24 at 6:59 pm
Posted on 1/19/24 at 4:59 pm to Bunk Moreland
I fricking hate the name “vibecession.” Most of all because it’s describing a genuinely serious economic issue in a way that’s guaranteed to get blown off because of the name.
A “recession” is a specific economic phenomenon with a precise technical name. Its presence tends to correlate with worsening economic prospects, but it’s not the be-all-end-all. “Are we in a recession?” is a semantic argument for genius autists in economics.
The phenomenon that “vibecession” comments on is the fact that traditional measures of economic health are being cooked statistically for the sake of politics, and in the process that those measurements are decreasingly relevant to the average person. Okay, we’ve had on-paper growth every quarter for the last X years. So what? Is the average person actually better off, or not? The overwhelming answer is NO. So who the frick cares what you call it?
But then it gets some cringe gay name like “vibecession” that is practically engineered for people over 40 (and serious people of all ages) to instantly ignore it.
A “recession” is a specific economic phenomenon with a precise technical name. Its presence tends to correlate with worsening economic prospects, but it’s not the be-all-end-all. “Are we in a recession?” is a semantic argument for genius autists in economics.
The phenomenon that “vibecession” comments on is the fact that traditional measures of economic health are being cooked statistically for the sake of politics, and in the process that those measurements are decreasingly relevant to the average person. Okay, we’ve had on-paper growth every quarter for the last X years. So what? Is the average person actually better off, or not? The overwhelming answer is NO. So who the frick cares what you call it?
But then it gets some cringe gay name like “vibecession” that is practically engineered for people over 40 (and serious people of all ages) to instantly ignore it.
Posted on 1/19/24 at 4:59 pm to Bunk Moreland
quote:
“I think a lot of Millennials were forced into saying, ‘you need a four-year degree in order to be successful,’” says Rachael, who is 33. “At 18, you’re signing up to be $100,000 in debt before you even really know how to make the best decisions for yourself. I think we need to change that narrative.”
I completely agree with this statement
Posted on 1/19/24 at 5:02 pm to JohnnyKilroy
quote:
Biden’s America!
Not saying things are peachy. Just pointing out that the American Dream is still being achieved by those who aren’t perpetual victims.
Posted on 1/19/24 at 5:07 pm to Dawgfanman
quote:
Tuition and fees are <8000 a year at any of the state schools.
Nope.
You’re looking at 11k for uga and 12 for tech
UGA itself estimates that an in state student needs about 28k per 9 month academic year
So that’s 112k for only 36 out of the 45ish months a student is in undergrad. Add another 12-13k for 9 months of summer breaks and your at 125k
For a state school.
Posted on 1/19/24 at 5:07 pm to NIH
quote:Regarding plumbers owning their own businesses ... in many cases, you're 100% right.
Doctors and lawyers will be saying “yes sir” to plumbers before long
Posted on 1/19/24 at 5:13 pm to lsuconnman
quote:
someone from Columbia or NYU with a Masters in social work or fine arts.
There should be an absolute cap on college loans or grants, subsidized or otherwise, of $20,000/year. It would shut down the collegiate-industrial complex in a heartbeat, people would be wealthier, and our nation would be more productive.
I knew a teacher in high school that had a Harvard degree. You know what difference was between her and the others? ZERO. We still learned and moved on.
Posted on 1/19/24 at 5:16 pm to JohnnyKilroy
quote:
Nope. You’re looking at 11k for uga and 12 for tech UGA itself estimates that an in state student needs about 28k per 9 month academic year So that’s 112k for only 36 out of the 45ish months a student is in undergrad. Add another 12-13k for 9 months of summer breaks and your at 125k For a state school.
I’m not sure how an instate kid would get into either UGA or Tech and not qualify for HOPE scholarship, which covers tuition. It requires a B HS average, and most B kids get rejected from both schools. But I did understate tuition a good bit. Even still working a part time job can significantly lower the amount needed to borrow. No one has to borrow 125k to attend UGA for four years. That’s a lifestyle choice.
My son goes to a different state school and his costs, other than tuition (which is covered) are about 12k a year (two semesters) I pay half and he pays the other. First year he used loans, this year he covered it by working.
This post was edited on 1/19/24 at 5:19 pm
Posted on 1/19/24 at 5:16 pm to tadman
I'm fortunate in that I got my mortgage in 2015 with 3% interest rate. House has doubled in value since.
Posted on 1/19/24 at 5:17 pm to Hookah
quote:
Gamers, streamers, OF, influencers, Youtubers, podcasters etc. These folks make millions. Not to mention the legitimate trades like coding, handyman work, and all the part time work like Uber and the WFH jobs
quote:
Articles like these are just ingested with crap and no relevant data.
Posted on 1/19/24 at 5:19 pm to SneezyBeltranIsHere
Yeah, glad I was able to find 500k in my couch cushions to buy my crib.
Posted on 1/19/24 at 5:28 pm to Dawgfanman
quote:
I’m not sure how an instate kid would get into either UGA or Tech and not qualify for HOPE scholarship, which covers tuition. It requires a B HS average, and most B kids get rejected from both schools. But I did understate tuition a good bit. Even still working a part time job can significantly lower the amount needed to borrow. No one has to borrow 125k to attend UGA for four years. That’s a lifestyle choice.
A hope scholarship to UGA covers a maximum of about 5k of the 11k tuition and fees for in state uga students.
Posted on 1/19/24 at 5:35 pm to Shexter
I don’t trust Kylie.
Average McDonald’s worker makes $13.27/hr and the average cost of Big Mac is $5.58.
Ahh see, they don’t have a minimum wage.
Average McDonald’s worker makes $13.27/hr and the average cost of Big Mac is $5.58.
quote:
Well, our Big Macs are not that expensive. A burger in Denmark costs roughly a dollar more that it costs in the United States. But this has nothing to do with a minimum wage. We don’t have one. What we have is the Danish labor-market model, also known as “flexicurity” because it offers flexibility and security for workers and employers alike.
Ahh see, they don’t have a minimum wage.
This post was edited on 1/19/24 at 5:40 pm
Posted on 1/19/24 at 5:35 pm to JohnnyKilroy
quote:
A hope scholarship to UGA covers a maximum of about 5k of the 11k tuition and fees for in state uga students.
No, that’s per semester here is a link
Hope
Posted on 1/19/24 at 5:43 pm to UK34
(no message)
This post was edited on 3/13/24 at 11:36 am
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