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re: Millennial wealth is still lagging behind previous generations at the same age
Posted on 2/21/20 at 11:06 am to jchamil
Posted on 2/21/20 at 11:06 am to jchamil
quote:
Probably has more to do with the fact that so many people go to college now. Of course the wealth is going to come at a later age when you start your earning career 4-5 years later
Definitely a factor, along with the debt that comes with it.
1
Posted on 2/21/20 at 11:07 am to bayoubengals88
quote:if you live like this, I guess not
On a teacher's salary the entire time. It's not that hard to refrain from wasting money is it?
quote:
Outside of bills, saving, investing, and giving my needs are: food, beer, wine, LSU basketball tickets, and haircuts.
I travel once or twice per year.
Posted on 2/21/20 at 11:09 am to GreatLakesTiger24
Yeah, but he can retire at 55 and substitute and fish!
Posted on 2/21/20 at 11:10 am to RLDSC FAN
Boomers die, Millenials and Companies profit 
Posted on 2/21/20 at 11:10 am to SD Tider
quote:
Home ownership is the traditional way for normal middle-to-lower class Americans to build equity, but that’s becoming harder due to how the cost of homes has skyrocketed as well as regulatory red tape.
This is the biggest key, coupled with what is available in apartments today. 40-50 years ago, you didn't get apartments. They were crap. Today, in a ton of markets, it is pretty difficult to find a house worth what it is asking.
quote:
Stagnant wages
Eh, largely overstated.
Posted on 2/21/20 at 11:11 am to SD Tider
The art history thing is an outlier. The average person with student loan debt went to a state school and majored in something like communications, business, education, etc.
Posted on 2/21/20 at 11:14 am to GoCrazyAuburn
quote:
This is the biggest key, coupled with what is available in apartments today. 40-50 years ago, you didn't get apartments. They were crap. Today, in a ton of markets, it is pretty difficult to find a house worth what it is asking.
I think a big part of the problem with housing is there are significantly more trash in the suburbs these days. It has become more expensive to get in a school school zone full of like minded families.
Posted on 2/21/20 at 11:14 am to BRUNNIN4
quote:a house that cost 260k right now cost 55k for a boomer.
I suspect millennials will have their fair share in the next 10 years or so.
"At the same age"
Thank about that. because the salaries dont have that big of gap
Posted on 2/21/20 at 11:15 am to RLDSC FAN
The world will be a significantly better place once Boomers die off and we can start fixing the problems they created.
Posted on 2/21/20 at 11:16 am to Wtodd
quote:
We're too tough to die; DWI
Y’all are a pretty weak generation, tbh.
Posted on 2/21/20 at 11:17 am to RLDSC FAN
Part of the problem is like someone else said. A lot more going to college now than use to, which delays earning power. Many boomers went straight into blue collar jobs from high school, giving them a minimum four year head start on college bound people.
Millenials don't want to do blue collar work, which is why there is about to be a huge shortage of workers as boomers retire. The jobs, along with good pay, are there. Millenials just don't want to get their hands dirty.
Millenials don't want to do blue collar work, which is why there is about to be a huge shortage of workers as boomers retire. The jobs, along with good pay, are there. Millenials just don't want to get their hands dirty.
This post was edited on 2/21/20 at 11:20 am
Posted on 2/21/20 at 11:18 am to Raleigh Tiger
Ask yourself how many parents are guiding their kids to blue collar jobs: the answer is very few. Blue collar work is for everyone else
Posted on 2/21/20 at 11:19 am to Raleigh Tiger
quote:
Millenials just don't want to get their hands dirty.
because they got advanced degrees and are above starting at the bottom of the line unlike someone straight out of high school. (and im not talking about lib arts degree retards)
Posted on 2/21/20 at 11:19 am to Raleigh Tiger
quote:
Millenials don't want to do blue collar work, which is why there is about to be a huge shortage of workers as boomers retire. The jobs, along with good pay, are there. Millenials just don't want to get their hands dirty.
Fair point. I had to help a coworker change his tire last week. He's 29
Posted on 2/21/20 at 11:23 am to CarRamrod
quote:
because they got advanced degrees and are above starting at the bottom
And yet all I hear is "boomers won't retire". Well, they are retiring, but you're not filling the jobs they're leaving. You're too good for them. And these are six figure jobs.
Posted on 2/21/20 at 11:26 am to Raleigh Tiger
Are you a blue collar worker?
Posted on 2/21/20 at 11:27 am to bayoubengals88
quote:
Started my Roth at 24
Bought first house at 26
Bought second house at 31
On a teacher's salary the entire time. It's not that hard to refrain from wasting money is it?
There are too many variables to answer this honestly.
Posted on 2/21/20 at 11:28 am to Raleigh Tiger
quote:
And yet all I hear is "boomers won't retire". Well, they are retiring, but you're not filling the jobs they're leaving. You're too good for them. And these are six figure jobs.
What exactly are these 100k jobs that millennials are too good for?
Posted on 2/21/20 at 11:30 am to Displaced
quote:
That's because the boomers and their massive leeching numbers won't die off.
Wealthy isn’t a zero sum game.
Posted on 2/21/20 at 11:33 am to 0
Check into what plumbers, electricians, HVAC guys and the like make.
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