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re: Millennials make more money than any other gen. did at their age, but are way less wealthy

Posted on 10/12/21 at 12:36 pm to
Posted by kingbob
Sorrento, LA
Member since Nov 2010
69327 posts
Posted on 10/12/21 at 12:36 pm to
Is it really “your” community if it’s neither the town you grew up in or the city you’ve been living in? Sounds like you’re just throwing an economic dart and picking a place to colonize.

It’s one thing to choose to move back to the community you grew up in and put down roots there, but picking some place you have zero ties to beyond the economic is no better than moving to a big city for work.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
296832 posts
Posted on 10/12/21 at 12:36 pm to
quote:

My house is well well well beneath that medium price, I live in a small market, I have roommates, I never take vacations or eat zero avocado toast. I cook the vast majority of my meals, have an advanced degree (one of the good ones, not some lesbian dance therapy) with zero student loan debt, have never driven a car with less than 90k miles on it nor one that retailed new for more than $20k, have zero kids, no car note, no boat, no hunting camp, no f-350, no yeti coolers, no major health problems, etc and am still paycheck to paycheck working a professional job.
--------------------------------------------------------------------------------


Something is not adding up here.


Absolutely. This one is off the rails.
Posted by NC_Tigah
Make Orwell Fiction Again
Member since Sep 2003
135604 posts
Posted on 10/12/21 at 12:37 pm to
quote:

3 generations of Boomer monetary policy
Three generations of boomers, eh?
Posted by kingbob
Sorrento, LA
Member since Nov 2010
69327 posts
Posted on 10/12/21 at 12:38 pm to
quote:

I'm having trouble believing it.


I wouldn’t believe it either if I wasn’t living it.

Entry level Professional jobs today don’t pay shite and housing costs are eating me alive despite me picking something “frugal” and “reasonable”.
This post was edited on 10/12/21 at 12:40 pm
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
296832 posts
Posted on 10/12/21 at 12:38 pm to
quote:

Sounds like you’re just throwing an economic dart and picking a place to colonize.


No, you make an informed decision.

That's what people have done since this country was founded. Moved to places where people are like them, where the ability to make a life is supported.

If you can't afford your life, you've made poor decisions regardless of how "desirable" a place is..
Posted by TheDrunkenTigah
Baton Rouge
Member since Aug 2011
18151 posts
Posted on 10/12/21 at 12:38 pm to
Your daughter sounds like she’s either in much more debt than she’s letting on or just paid it all off travel nursing.
Posted by TheDrunkenTigah
Baton Rouge
Member since Aug 2011
18151 posts
Posted on 10/12/21 at 12:40 pm to
quote:

Fort Worth isn't a mid sized city, by American standards. Its in the middle of a megalopolis.


You don’t say.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
296832 posts
Posted on 10/12/21 at 12:42 pm to
quote:

But I do question the idea that there are a bunch of viable (decent schools, economies, etc.) cities with sub-300k homes.


That's half of the wealthiest country in the world.

I think some people are just accustomed to more than middle class living. Schools and economies will just reflect the local population.

I see ethno-clusters being a thing in the future, as they once were. Ideologically tied people purposefully setting up communities.
Posted by STLhog
Dallas, TX
Member since Jan 2015
18838 posts
Posted on 10/12/21 at 12:42 pm to
quote:

Three generations of boomers, eh?



The last 3 chairs of the Fed have been boomers? Or am I wrong about that?
Posted by Pettifogger
I don't really care, Margaret
Member since Feb 2012
86070 posts
Posted on 10/12/21 at 12:43 pm to
quote:

Is it really “your” community if it’s neither the town you grew up in or the city you’ve been living in? Sounds like you’re just throwing an economic dart and picking a place to colonize.

It’s one thing to choose to move back to the community you grew up in and put down roots there, but picking some place you have zero ties to beyond the economic is no better than moving to a big city for work.


What?

My point is that we're better off encouraging people to accept a simplified way of life, wherever that may be (presumably a smaller city).

I don't care if you have roots or not. Go wherever you find people who share your values and mindset.

I will say that I think it's important that "colonizers" and transplants move to where they fit, and adapt to their surroundings. Otherwise you end up in the place where Californians, etc. are moving to quaint cities and then forcing their California opinions on their new town.

It's why I think Texas/GA/etc. Republicans are making a mistake not pushing hard for specific types to relocate to balance the lefty hoards
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
296832 posts
Posted on 10/12/21 at 12:44 pm to
quote:

You don’t say.


Then I don't quite understand your confusion.

Affordable in a megalopolis is even more impressive, if your victimization narrative is to be believed..
This post was edited on 10/12/21 at 12:45 pm
Posted by turkish
Member since Aug 2016
2268 posts
Posted on 10/12/21 at 12:45 pm to
You’re not helping your credibility, here, fellow millennial.
Posted by jimbeam
University of LSU
Member since Oct 2011
75703 posts
Posted on 10/12/21 at 12:45 pm to
quote:


It really is hard AF to be middle class right now, even doing everything right and frugally.
something ain’t right here. I make less than all of my friends (still do okay), own my home (mortgaged obviously), have a 4x4 truck and save more than 1/3 of my gross income.
Posted by kingbob
Sorrento, LA
Member since Nov 2010
69327 posts
Posted on 10/12/21 at 12:45 pm to
quote:

I will say that I think it's important that "colonizers" and transplants move to where they fit, and adapt to their surroundings. Otherwise you end up in the place where Californians, etc. are moving to quaint cities and then forcing their California opinions on their new town


I think the problem is that people think they’re doing the former when they’re really doing the latter. I see this shitte in New Orleans all the time with the hyper vocal “locals” who moved here from Brooklyn 3 years ago.
Posted by RogerTheShrubber
Juneau, AK
Member since Jan 2009
296832 posts
Posted on 10/12/21 at 12:46 pm to
quote:

and save more than 1/3 of my gross income.


Sounds like you had good parenting.
Posted by TDTOM
Member since Jan 2021
24729 posts
Posted on 10/12/21 at 12:46 pm to
quote:

I don't care if you have roots or not.


But it's hard....they don't do hard.
Posted by dgnx6
Member since Feb 2006
86062 posts
Posted on 10/12/21 at 12:47 pm to
Well doesn’t help you will tax all of millennials parents when they die, receiving even less wealth.

But they voted for this shite. So fug em.
Posted by PrimeTime Money
Houston, Texas, USA
Member since Nov 2012
27865 posts
Posted on 10/12/21 at 12:47 pm to
Millennials 100% spend more money than their parents did. I can’t tell you how many of my friends would just fly to Miami with girlfriends to party and have fun. Or how many guy friends would go to Vegas for fun or travel across the country for a bachelor party. Or travel across the world on a honeymoon.

Our parents never did stuff like that. Most people of previous generations struggled when they were younger. Millennials (my generation) want it all now. They want to live cushy how their parents do, but don’t realize their parents worked up to that point. They didn’t start out that way.

Anyway, I don’t know about all of the financial numbers of this generation compared to last generations, but it’s just my personal experience that millennials at a young age spend way more money and live much fancier than older generations did at their age.
This post was edited on 10/12/21 at 12:51 pm
Posted by Paul Allen
Montauk, NY
Member since Nov 2007
77799 posts
Posted on 10/12/21 at 12:48 pm to
quote:

who moved here from Brooklyn 3 years ago.


I don’t think you’re going to see many more transplants in New Orleans in the near future as you did the last decade.

Nashville, Austin, Denver, Charleston, Tampa and some other larger metro cities are seeing more people from out of state.
Posted by STLhog
Dallas, TX
Member since Jan 2015
18838 posts
Posted on 10/12/21 at 12:48 pm to
quote:

You’re not helping your credibility, here, fellow millennial.



Yellen, Powell and Bernanke are all Boomers.

What am I missing broski?
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