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Started By
Message
re: How will young people ever get ahead?
Posted on 5/3/23 at 7:08 am to tiggerthetooth
Posted on 5/3/23 at 7:08 am to tiggerthetooth
quote:
It's not going to happen. Millennials are going to be on the opposite end of globalization from their parents.
I have several friends and relatives with kids recently graduated who did nothing more than pick a field that had potential, did a good job in college, got work experience, etc. They were all able crack 6 figures pretty quickly just by keeping their eye on the ball.
Now …..if they were humanity majors crying about how tough things are the outcome might have been different.
1
Posted on 5/3/23 at 7:08 am to Allthatfades
I’ve never paid over $20,000 for a vehicle.
If I couldn’t afford a home, and wasn’t 80% sure I’d live in that location for several years, I rented.
I didn’t eat out except for special occasions.
I didn’t job hop every 2 years
I was raised to have a strong work ethic
Patience and discipline get you where you need to be. Turn off the news.
If I couldn’t afford a home, and wasn’t 80% sure I’d live in that location for several years, I rented.
I didn’t eat out except for special occasions.
I didn’t job hop every 2 years
I was raised to have a strong work ethic
Patience and discipline get you where you need to be. Turn off the news.
Posted on 5/3/23 at 7:08 am to Jcorye1
quote:
Trying to find schools that are halfway decent near any major city is an act of futility. It's difficult at times to keep the nihilism at bay
How did you find a wife? The boomers taught all their daughters how to weigh 200 lbs and get divorced
Posted on 5/3/23 at 7:08 am to SquatchDawg
quote:
My first job out of college was $30k back in 1996. A kid bagging groceries at Publix makes $15/hr now. Do the math.
So after accounting for inflation, you started of making twice as much as a “kid bagging groceries at Publix.”
Given that many starting jobs even for college degrees are in the 20-21 range in not sure what’s your point. They are still starting significant behind your stated number.
Posted on 5/3/23 at 7:09 am to Allthatfades
I live well within my means. I'm not a baller but my wife and I do well for ourselves. Modest home and vehicle. We do pretty much whatever we want within reason. I still wonder how folks at my income level make it with kids, I can make money disappear quick.
Posted on 5/3/23 at 7:11 am to SquatchDawg
quote:
My point was a kid bagging groceries now makes the same as I did with my first real job so it’s all relative. A kid now with a similar degree can make close to 3 times that depending on the field.
Also the number of 90k jobs straight out of college is very very very small.
Posted on 5/3/23 at 7:11 am to Loup
My wife and I do okay. One kid, second on the way. We just don’t buy crap we don’t need.
Posted on 5/3/23 at 7:12 am to DeafJam73
quote:
When’s the last time you looked for a job? There a ton of high paying jobs being offered out there. And a degree doesn’t really mean anything anymore.
I haven’t but that’s my point. The costs are higher but so is entry level income available…degree or not.
Now, I know some people who’s kids thought they were going to professional baseball players, fricked up in high school, and still live at home while they try to “figure things out”. They’re probably the same ones complaining that life’s not fair.
Posted on 5/3/23 at 7:13 am to SquatchDawg
quote:
I have several friends and relatives with kids recently graduated who did nothing more than pick a field that had potential, did a good job in college, got work experience, etc. They were all able crack 6 figures pretty quickly just by keeping their eye on the ball.
Congrats on the anecdote, but 6 figures doesn't go as far as it did even 10 years ago and none of your post accounts for retirement growth over the next few decades.
No one is going to escape the reality of what is happening.
This is happening in pretty much every developed country in the world:
Collapsing population--->fewer workers--->less consumption---->less production--->smaller economies.
Just a fact regardless of where you are in terms of socioeconomic status.
You also aren't considering that we still need people in fields that don't easily Crack 6 figures.
We still need nurses, school teachers, sanitation workers, construction workers, policemen, janitors, landscapers, farm workers, butchers, stockers, truck drivers, oilfield rig hands,etc.
Most of those fields don't Crack 6 figures. If those people can't survive and require more income, guess who's bills go up as well?
This post was edited on 5/3/23 at 7:17 am
Posted on 5/3/23 at 7:13 am to 14&Counting
quote:
I made like $50K my first real job in 2000 and thought I was rich
That's a lot more than I made in 2000 with a Stem degree
Posted on 5/3/23 at 7:14 am to Allthatfades
I have three children and I wonder this as well. The wife and I do well and other than two cars everything is paid for and we aren’t setting the world in fire. Multigenerational homes may be the only way to build wealth going forward.
This post was edited on 5/3/23 at 7:15 am
Posted on 5/3/23 at 7:17 am to chryso
quote:
Camrys and Corollas cost over $50k now?
I bought a new camry for $18k in 2012. Looks like they're around $32k now.
My dad just sold that same Camry for close to $10k with 250k miles on it.
This post was edited on 5/3/23 at 7:18 am
Posted on 5/3/23 at 7:17 am to DeafJam73
quote:
You can’t compare 1996 $30k to today
I was talking with my dad about this the other day. He might have made $30K in 96, mom didn't work and we rented a huge house, had two new vehicles and took vacations every year. Not rich but we lived comfortably
Posted on 5/3/23 at 7:17 am to Volvagia
quote:
Given that many starting jobs even for college degrees are in the 20-21 range in not sure what’s your point. They are still starting significant behind your stated number.
The average starting salary out of college is $50k to $60k and it could be higher depending on your major.
Getting trained and going straight into the trades is probably the same or better ….just a lower top end potential.
Neither of which will apply if you major in Rust, CoD and/or weed.
Posted on 5/3/23 at 7:18 am to SquatchDawg
quote:
My first job out of college was $30k back in 1996.
Back when your everyday cost of living was way less.
What did your cell phone, cable, internet, gas, etc all cost you back then?
Posted on 5/3/23 at 7:18 am to Allthatfades
For all those that say work hard.
My wife and I bought our first house in 2012. We paid 100k for a 1,200 sq ft 2 bedroom townhome.
It just sold again last year for 215k.
At the time I had a Nissan frontier that I paid 25k for brand new. Same vehicle today is 40k or more.
I do really well at my job, but I don't think salaries are keeping up with inflation
My wife and I bought our first house in 2012. We paid 100k for a 1,200 sq ft 2 bedroom townhome.
It just sold again last year for 215k.
At the time I had a Nissan frontier that I paid 25k for brand new. Same vehicle today is 40k or more.
I do really well at my job, but I don't think salaries are keeping up with inflation
Posted on 5/3/23 at 7:18 am to SquatchDawg
quote:
The issue is kids think they should live and have what their parents do right out of the gate.
Yall are still peddling this line I see
Posted on 5/3/23 at 7:18 am to Allthatfades
Real estate prices in the metaverse have plummeted. If they are content to live there, they should do fine.
Posted on 5/3/23 at 7:19 am to SquatchDawg
quote:
The average starting salary out of college is $50k to $60k and it could be higher depending on your major
Now remove all the software engineers being paid SV wages and ivy league hedge fund associates in NYC.
Posted on 5/3/23 at 7:21 am to PaperPaintball92
quote:
Inheritance is our only chance.
Meanwhile something like 2/3rds of people have less than 100k saved for retirement
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