- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Millennials earn 20% less than baby boomers did—despite being better educated
Posted on 11/5/19 at 5:42 pm
Posted on 11/5/19 at 5:42 pm
quote:
Millennials are facing a shortfall compared to other generations when it comes to their paychecks.
Overall, millennials earn 20% less than baby boomers did at the same stage of life, according to “The Emerging Millennial Wealth Gap,” a recent report from the nonprofit, nonpartisan think tank New America. Specifically, median earnings for those 18 to 34 are lower than they were in the 1980s, a disparity that was first noted in a 2017 report from the non-profit Young Invincibles. And the flow of today’s paychecks is less predictable due, in part, to the effects of the Great Recession and a rise in contract and freelance positions that may be less consistent in hours and pay.
That’s in spite of overall higher education levels. Nearly 40% of millennials 25 to 37 have at least a bachelor’s degree, compared to just a quarter of baby boomers and 30% of Gen X when they were the same age, Pew Research Center found.
These lower wages may lead to long-term problems for this generation, experts say.
quote:
The generational wealth gap has reached “historic proportions,” Cramer says. The average millennial’s wealth in 2016 (ages 23 to 38) was 41% less than those who were at a similar age in 1989, the report says.
So, in short, boomers benefited off the success of their parents by getting jobs in a booming post war economy with no education, and have since hoarded more and more of their money, creating one of the biggest wealth gaps observed in modern history.
Have US baby boomers had it easier than any other generation in the history of the world?
LINK
This post was edited on 11/5/19 at 5:43 pm
Posted on 11/5/19 at 5:45 pm to hubertcumberdale
Yeah maybe but I find all this boomer hate to be over the top. They were lucky to ride the wave of a steady postwar economy in a nation that maturing as a super power. frick them for living in a stable job market and economy???
Posted on 11/5/19 at 5:46 pm to hubertcumberdale
I have a hard time believing the average millennial has a positive net worth approaching $100k.
Posted on 11/5/19 at 5:51 pm to hubertcumberdale
Gen X doing just fine
Posted on 11/5/19 at 5:51 pm to JohnnyKilroy
IB4, boomers weren't playing on Twitter 8 hours a day either, were they?
Posted on 11/5/19 at 5:51 pm to hubertcumberdale
quote:
better educated
Worthless degrees don’t count in the real world
Posted on 11/5/19 at 5:51 pm to hubertcumberdale
So the old guys with all the seniority make more than the new hires? How dare they
Posted on 11/5/19 at 5:52 pm to hubertcumberdale
I don’t care about the education aspect but people on here refuse to admit this -
quote:
Overall, millennials earn 20% less than baby boomers did at the same stage of life,
Posted on 11/5/19 at 5:55 pm to GreatLakesTiger24
I'd imagine boomers worked more than 20% harder than millennials too.
Posted on 11/5/19 at 5:55 pm to hubertcumberdale
quote:
That’s in spite of overall higher education levels. Nearly 40% of millennials 25 to 37 have at least a bachelor’s degree, compared to just a quarter of baby boomers and 30% of Gen X when they were the same age, Pew Research Center found.
Pretty important that we know what the degrees are in. Lots of millennials get useless degrees and then complain they can't find a job and have student loan debt.
quote:
Overall, millennials earn 20% less than baby boomers did at the same stage of life
Again, does this compare apples to apples? In other words, are millennials who do the same job, with the same degree and experience making 20% less?
Seems like the ole "women make less than men" fallacy.
Edit for grammar
This post was edited on 11/5/19 at 6:02 pm
Posted on 11/5/19 at 5:55 pm to hubertcumberdale
I love these threads I really fricking do. Anything to shite on Boomers.
Posted on 11/5/19 at 5:55 pm to hubertcumberdale
We should just kill all these fricking millennials already. Do the world a favor.
Posted on 11/5/19 at 5:56 pm to hubertcumberdale
quote:
So, in short, boomers benefited off the success of their parents
Yes that is typically how families work.
quote:
have since hoarded more and more of their money
If they kept their money they're hoarders, if they spent it they're gluttonous indulgers.
They earned the money. Were they supposed to just give it away, and to people who are not their children (because we can't have kids benefiting on their parents' success)
quote:
creating one of the biggest wealth gaps observed in modern history.
Yeah that's kinda what happens when one generation earns a lot of money and the next doesn't.
Stop obsessing over what other people have and you don't. One day they will die and their wealth will pass on to the next generation.... if you can earn it.
Posted on 11/5/19 at 5:58 pm to hubertcumberdale
quote:But ignorant as frick and mentally unstable.
better educated
Posted on 11/5/19 at 5:59 pm to hubertcumberdale
quote:
better educated
Useless degrees and massive amounts of debt means better educated?
Minor reminder: nobody ever promised millennials that their college degrees would grant them huge windfalls.
Posted on 11/5/19 at 6:01 pm to hubertcumberdale
quote:Scruffy knows people like to talk shite about other generations, but this right here is true.
Have US baby boomers had it easier than any other generation in the history of the world?
Boomers had it easy as shite.
Posted on 11/5/19 at 6:02 pm to LSUballs
quote:Wow
So the old guys with all the seniority make more than the new hires? How dare they
Gen X takes the L here with reading comprehension like this
Popular
Back to top
Follow TigerDroppings for LSU Football News