re: Is The Economy really bad?

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Are we now at the point in the discussion where $130K in salary is not enough to buy a baseball glove

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Of course you can, at that income level you couldn’t just walk in to the store and buy it and not have to think about how it affects your finances, which again sucks

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the poor are struggling with inflation

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Well they could save a fortune if they quit smoking bc that NEVER seems to be considered

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And you were making a lot of money. I truly don’t see how two teachers, for example, do it today. You’re likely maxing out at somewhere around $130k household

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Teachers make more than you think, at least in major cities like Atlanta.
They start, zero experience, over 60. They max out at around 90.

With a Masters it’s 68-102.

So two teachers, age 22, are 120k household income.

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people still smoke?

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People blow the hell out of a vape.

No, we can't afford to smoke AND buy starbucks 8 times a day.

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At roughly $138K in today's salary, I was living much better in the mid-90's than than those, that I personally know do today. Anecdotal, I know but if you do not think things are harder for kids these days, you are asleep at the wheel.

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This is one of the big fallacies y'all constantly fall for.

You compare everything to the 90s.

The 90s was an outlier decade. It was by far the easiest financial decade of my lifetime (born in 1970).

In 1980 the median home price for an existing home was $47,000 and the median family income was $21,000.

By 1989 it was $120,000 but the median family income only went up to $28,000.

That means that adjusting for inflation, the median home price in America almost doubled in that decade, but median family income adjusted for inflation went DOWN by over 10%.

AND interest rates got as high as a little over 18% during the 80s.

AND the average home was 40% smaller than today's average home.

So it's not only comparable to now (the median home price for existing homes has basically doubled since 2015 and the median family income went from $56,500 to $78,770, which means that adjusted for inflation it stayed almost exactly the same), but with interest rates that high it was worse back then. Kind of by a lot.

I post this stuff over and over again and it goes right in one ear and out the other.

Gen Z thinks they are the most put-upon generation to ever zip up their pants in the morning and objectively speaking it's simply not true. Math is undefeated. USe Google and do some simple math.

Does Gen Z have it as easy as the generation that was their age in the 90s?

No. But nobody does or ever has. The 90s is the outlier decade.

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Gen Z thinks they are the most put-upon generation to ever zip up their pants in the morning and objectively speaking it's simply not true.

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It actually is true unless there’s economic prosperity like the 90s in our near future. Based on the direction of the country do you see that happening?

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If your goal is to save $750 a month cash after your expenses and your kid wants a $200 baseball glove, that matters

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I thought this was insane so I popped over to dicks and just saw that rawlings and wilson gloves are 200-350 a pop wtfffff

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Damn that’s expensive.

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I think that's pretty standard around here, how much is it where you live.

Protecting an asset for 1% of its value seems reasonable.

I do think coming the pike there will be separate roof polices that will have high deductibles and/or only cover a percentage of the replacement costs. USAA has not done that yet.

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I pay about 5500 and my dwelling is about 700k in south louisiana.

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I read, on this board, a lot of insurers are leaving S LA. Is that factual?