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re: This depressing chart shows the jaw-dropping wealth gap between millennials and boomers
Posted on 12/5/19 at 2:49 pm to Jcorye1
Posted on 12/5/19 at 2:49 pm to Jcorye1
quote:
I was born in 1988, I don't understand how I'm a millennial.
You aren't even borderline. You are exactly in the middle of the millennial generation
0
Posted on 12/5/19 at 2:50 pm to 21JumpStreet
quote:
And this is why everyone thinks millennial are dumb
So over a third of my life was not in the new millennium, yet you think I'm dumb for saying I'm not a millennial.
Posted on 12/5/19 at 2:50 pm to hubertcumberdale
Aren’t boomers in their retirement years where they would have a large net worth built up over an extensive career with smart investments?
And aren’t millennials in their twenties and thirties when people go into debt with school, kids, and houses as they focus on building their careers?
And aren’t millennials in their twenties and thirties when people go into debt with school, kids, and houses as they focus on building their careers?
Posted on 12/5/19 at 2:51 pm to hubertcumberdale
quote:
I think the problem is much deeper than the $11 millions/yr avocado toast industry
It was a poor attempt at humor. I'm actually a millenial.
Posted on 12/5/19 at 2:51 pm to Jcorye1
quote:
I was born in 1988, I don't understand how I'm a millennial.
That is because you don't have a clue what a millennial is. We are the generation that came of age around the turn of the millennia.
Posted on 12/5/19 at 2:51 pm to hubertcumberdale
Sorry the millennials are poor.
Ha ha,
Ha ha,
Posted on 12/5/19 at 2:52 pm to MSMHater
quote:
It's almost as if age/time is a significant factor in wealth creation. Who would have ever thought of such a thing?
womp womp
Posted on 12/5/19 at 2:52 pm to hubertcumberdale
Sup baws
Posted on 12/5/19 at 2:52 pm to StringedInstruments
quote:
Aren’t boomers in their retirement years where they would have a large net worth built up over an extensive career with smart investments? And aren’t millennials in their twenties and thirties when people go into debt with school, kids, and houses as they focus on building their careers?
Boomers basically could pay for the best college in the USA with almost any job without going into debt. They bought homes when it was super cheap. Millennials go into debt for life by going to any college if they don't have scholarships and have to fight for decent homes against boomers with way more money.
Boomers had it easy. Just the times they grew up in. Boomers are dying off though, we don't have to put up with them for much longer.
This post was edited on 12/5/19 at 2:55 pm
Posted on 12/5/19 at 2:52 pm to SeeeeK
quote:
Wow, your parents were dumb.
No, they weren't they were advising me to do what they did. Luckily I paid off my loans quickly after I dropped out. They just did what they thought was best, while in the meantime, the fed/state gov officials were busy taking kickbacks allowing universities to raise tuition exponentially due to free money.
We are getting really close to the point where the cost of a 4 year degree from a decent state school is no longer a home run for you financially due to repayment costs.
Making college available to anyone able to get in devalued all 4 year degrees while quickly making it back to something only rich people could afford.
Posted on 12/5/19 at 2:53 pm to StringedInstruments
quote:
Aren’t boomers in their retirement years where they would have a large net worth built up over an extensive career with smart investments?
And aren’t millennials in their twenties and thirties when people go into debt with school, kids, and houses as they focus on building their careers?
...they are comparing wealth at 35 for both groups
Posted on 12/5/19 at 2:53 pm to Jcorye1
quote:
So over a third of my life was not in the new millennium, yet you think I'm dumb for saying I'm not a millennial.
It starts with people that were becoming young adults around the turn of the millennium which is why you usually see the generation start around 1981-1982.
Posted on 12/5/19 at 2:53 pm to LSUFanHouston
quote:
But eventually the Boomers will die. I'm curious how much of that wealth will be left, when they do.
I imagine many millennials will benefit from their family’s money. My in-laws have a few million in the bank and are in their seventies. We will probably see a boost in our net worth thanks to their hard work. However, I imagine a lot of wealth will transfer to charities as boomers pass away and leave money to their churches, organizations, etc.
Posted on 12/5/19 at 2:54 pm to hubertcumberdale
Boomers are accumulating wealth and then sitting on it. That combined with perpetually better medicine means everyone will be able to sit on their wealth longer due to increased lifespan.
Expect this trend to continue as each new generation ages. It really isn't that complicated.
Expect this trend to continue as each new generation ages. It really isn't that complicated.
Posted on 12/5/19 at 2:55 pm to hubertcumberdale
This is a very misleading graph. % of the nations wealth as a measure? There were no billionaires when the boomers were coming up so there was far far less wealth.
Show me the raw numbers, adjusted for inflation, and we will talk.
Show me the raw numbers, adjusted for inflation, and we will talk.
Posted on 12/5/19 at 2:56 pm to hubertcumberdale
Maybe instead of demanding $15 per hour to flip burgers yall should open a book and learn a valuable trade, or get a degree in something that translates to a career.
Posted on 12/5/19 at 2:56 pm to Jcorye1
quote:
So over a third of my life was not in the new millennium, yet you think I'm dumb for saying I'm not a millennial
Yes. As has been said in every single one of these threads, complaining that you shouldn’t be considered a millennial despite being born in the widely accepted “millennial” range is the most millennial thing ever.
Posted on 12/5/19 at 2:57 pm to hubertcumberdale
I'm leaving it to my much younger wife and three of my four kids and all of my grandchildren.
That's how I'll share it.
In the meantime I am there when they need me, I pay for family vacations and I am generous at birthdays and major holidays and I've started college trust funds for all the grandkids and/or when they turn 25 if they choose a different path.
I'm leaving some land for all of them, they've declared their favorites, and the others they can fight over when my wife kicks the bucket fifty years from now .... it should be fun.
Finally, I'm leaving some to my favorite animal rescue charity. It's a family tradition.
That's how I'll share it.
In the meantime I am there when they need me, I pay for family vacations and I am generous at birthdays and major holidays and I've started college trust funds for all the grandkids and/or when they turn 25 if they choose a different path.
I'm leaving some land for all of them, they've declared their favorites, and the others they can fight over when my wife kicks the bucket fifty years from now .... it should be fun.
Finally, I'm leaving some to my favorite animal rescue charity. It's a family tradition.
Posted on 12/5/19 at 2:57 pm to hubertcumberdale
Gen X here wife is a millenial, we are fine, not sure who you want to blame being poor on?
Posted on 12/5/19 at 2:58 pm to hubertcumberdale
Boomers are given a great economy proceed to tank it and have millennials fight their wars but still have the audacity to bitch about millenials.
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