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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 11:48 am to RogerTheShrubber
Posted on 10/12/21 at 11:48 am to RogerTheShrubber
quote:
I think most people accept that generally the entire generation makes poor choices.
Yes only unique to millennials, Boomers and Gen Xers exclusively live within their means, carry no debt and have made so many sacrifices over the years that millennials know nothing about.
Refusing to acknowledge the inherent disadvantages in building wealth the generation has dealt with vs previous generations is just ignorant.
You realize a millennial doesn't even know what the word "pension" means don't you?
1
Posted on 10/12/21 at 11:49 am to kingbob
quote:No, it doesn't. You were trying to be clever and made a stupid statement. Own it.
No boomers did. I was over simplifying the issue, but the point still stands.
Posted on 10/12/21 at 11:51 am to Pettifogger
quote:
It'll almost have to be a movement, where people decide they want to build an enclave for themselves with 250k homes in the middle of nowhere. It's not naturally occurring right now.
Perhaps one positive thing to come from Covid is maybe there will be more remote work and people can spread out a little more. I think it remains to be seen how permanent some of this is.
I don't know if moving to the middle of nowhere has mass appeal to most young families but if you could do your same job based out of Nashville from another market where housing costs 50% less that might be appealing to a lot of people.
Posted on 10/12/21 at 11:51 am to olgoi khorkhoi
Not sure but they are definitely not including transfer payments and our welfare state benefits in these numbers. If millennials are so poor they’d be receiving government benefits.
Posted on 10/12/21 at 11:51 am to STLhog
quote:
Yes only unique to millennials,
Incorrect
They just seem incapable of understanding why they can't afford to build wealth without blaming someone else. The victim mentality is definitely attached to that generation.
Posted on 10/12/21 at 11:53 am to Gravitiger
quote:
No, it doesn't. You were trying to be clever and made a stupid statement. Own it.
No, you’re making yourself look petty over semantics. Someone blamed boomers for electing LbJ. I pointed out no one elected LBJ to his first term. Someone said “what about the second term?” I said boomers weren’t old enough to vote in that election and that the policies which the original poster was decrying had either already been passed or was already in motion prior to that election.
So, f$&k you. Not only did almost zero boomers vote for LBJ, but voting for or against LBJ made no difference because the horse had already left the barn before he was re-elected. The damage was done during his first term which he served despite no one having voted for him.
I’m sorry you’re incapable of understanding nuance.
This post was edited on 10/12/21 at 11:54 am
Posted on 10/12/21 at 11:54 am to RogerTheShrubber
quote:
The victim mentality is definitely attached to that generation.
It was invented by Boomers and Gen Xers and prescribed to millennials growing up in school, parenting, medication etc.
You just said millennials are just now having kids. Which one is it?
And there is nothing "victim" about admitting that cost of tuition and cost of housing is out of control across the country vs the 80s and 90s.
Posted on 10/12/21 at 11:55 am to RogerTheShrubber
quote:
They just seem incapable of understanding why they can't afford to build wealth without blaming someone else.
:Angrily gestures at graphs showing real wage declines, tuition increases, healthcare increases, and housing increases well in excess of inflation:
Our money is worth less and our biggest essential living expenses (with the exception of food which has only exploded in price this year) cost significantly more.
If you had to take a job that paid 10% less while your housing, health insurance, childcare, and education costs doubled or tripled, you too would have less disposable income lying around to sock away for retirement.
This post was edited on 10/12/21 at 11:58 am
Posted on 10/12/21 at 11:56 am to lsucoonass
quote:
Or they’re planning their biweekly vacations
As a kid boomer, I flew somewhere once...a single time, before I graduated from high school. Most people I knew were not taking big flyaway vacations. Most people I knew in my tiny N. La town weren't even going to Florida every year. Most people were getting a cheap cabin on a lake somewhere in Arkansas. Our mom's were cooking our breakfasts and packing lunches for our vacations. We would eat out a couple of times.
We rarely ate out when I was growing up. It was maybe once or twice per month. My parents didn't go out. They hung out with friends and played cards/games, etc.
The excessive lifestyle that's fueled by IG, FB, celebrity bloggers, etc is out of hand. We all want to do it all because we think everyone else is doing it all. It definitely creates lots of money issues.
Posted on 10/12/21 at 11:56 am to kingbob
If you can't afford to purchase something, you don't fricking need it. How hard is that for people, regardless of generation, to understand?
Posted on 10/12/21 at 11:56 am to kingbob
well... it took a few more pages than it usually does to get to the rabble rabble victim mentality rabble rabble always whining rabble rabble part of the thread.
Posted on 10/12/21 at 11:56 am to fallguy_1978
quote:
Nashville from another market where housing costs 50% less that might be appealing to a lot of people.
What market besides living the middle of nowhere, costs "50% less".
You realize the MEDIAN home price in this country is now over 300k and has risen at an exponentially faster rater than all of history since 1997?
Posted on 10/12/21 at 11:57 am to El Segundo Guy
quote:
If you can't afford to purchase something, you don't fricking need it. How hard is that for people, regardless of generation, to understand?
Pretty fricking hard for the entire country.
You realize if everyone followed that our GDP would be cut in half right? Or more?
And the government/financial system as we know it would collapse?
Genius logic.
Posted on 10/12/21 at 11:59 am to STLhog
So keeping up with the Joneses is a necessity because of the GDP.
Soft.
Soft.
Posted on 10/12/21 at 11:59 am to LaLadyinTx
quote:
It definitely creates lots of money issues.
3 generations of Boomer monetary policy has nothing to do with it though right?
And how far did you walk to school in the snow? You're soft.
Posted on 10/12/21 at 12:00 pm to kingbob
"No one voted for LBJ. He took over after killing Kennedy."
Where is the semantic nuance I am missing there?
Where is the semantic nuance I am missing there?
This post was edited on 10/12/21 at 12:04 pm
Posted on 10/12/21 at 12:01 pm to El Segundo Guy
quote:
So keeping up with the Joneses is a necessity because of the GDP.
Soft.
That's how the economy grows. For better or worse. It's literally capitalism.
Not condoning it but its the house of cards/bed that we've made for our country.
Posted on 10/12/21 at 12:01 pm to STLhog
quote:
That's how the economy grows. For better or worse. It's literally capitalism.
Posted on 10/12/21 at 12:01 pm to RogerTheShrubber
We can’t all be tour guides in Alaska
Posted on 10/12/21 at 12:01 pm to El Segundo Guy
Some things (housing, education, healthcare) are things you have to purchase in order to live. There’s only so much skimping you can do in those categories. The consumer is typically a price taker, not a price maker in those segments, which for someone under 40, is likely to take up upwards of 50% of their take-home pay. That gets even worse if they have children, and exponentially worse if they’re a single parent.
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