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Posted on 5/29/19 at 4:05 pm to JudgeHolden
quote:
And let me point out to the whiny assed millennials that from an inflation adjusted standpoint, my college debt was TWICE the average load of today’s grad. Yet I was able to buy a house. And get a real job. And pay it off. And get married. And raise kids. You know, all the stuff they say they can’t do.
Oh yeah, and my first mortgage was two or three times today’s cheap interest rates.
Literally not one word of this is true
Posted on 5/29/19 at 4:07 pm to JudgeHolden
quote:
my college debt was TWICE the average load of today’s grad
How old are you?
Posted on 5/29/19 at 4:09 pm to LB84
quote:
Why do people 50+ disregard inflation calculators?
These are the same people who are appalled they don't teach cursive in school anymore.
Posted on 5/29/19 at 4:10 pm to LB84
You are generalizing, and in-turn, are lumping in your incompetent mother-in-law with our parents who retired young and wealthy.
Posted on 5/29/19 at 4:12 pm to sanora
quote:
Literally not one word of this is true
Every word of it is true.
Posted on 5/29/19 at 4:13 pm to LB84
Boomers are fricking retarded.
Posted on 5/29/19 at 4:14 pm to LB84
worked as a teller while in college.
One day im working drive thru and it's like 2 minutes to close. This old buick comes screaming into the commercial lane and an old lady in a moo moo said "i'm over drawed in my checkins account. i need to swap some money from savins" I proceeded to do so. she wanted to do $200 as she was "overdrawed" about $100. I looked at her savings and she had 2 million friggin dollars in there. been there for decades just just earning nothing.
old people, man...
One day im working drive thru and it's like 2 minutes to close. This old buick comes screaming into the commercial lane and an old lady in a moo moo said "i'm over drawed in my checkins account. i need to swap some money from savins" I proceeded to do so. she wanted to do $200 as she was "overdrawed" about $100. I looked at her savings and she had 2 million friggin dollars in there. been there for decades just just earning nothing.
old people, man...
Posted on 5/29/19 at 4:18 pm to StealthCalais11
quote:
You literally missed the entire point
Don't use "literally" inaccurately, moron.
The OP's point was that old people claim to have gotten by on less because they fail to recognize inflation. That cuts both ways.
The average college grad today carries $28,000 in debt.
Every Sofi ad I see tells millennials that my generation had it easy because our college was so cheap.
I had $28,000 in debt (in real dollars at the time) when I graduated. Adjusting for inflation, that is twice the amount carried by the average grad today.
Perhaps millennials should consider that adjusting for inflation, they average less debt than a lot of their parents carried.
This post was edited on 5/29/19 at 4:23 pm
Posted on 5/29/19 at 4:19 pm to HoustonGumbeauxGuy
quote:
You are generalizing, and in-turn, are lumping in your incompetent mother-in-law with our parents who retired young and wealthy.
I figured this would be said by someone. I’ve heard this from 2 co-workers who are retiring soon and my parents. All of these people have retired or are going to retire within the middle class. My mother-in-law retired at 55 because as a nurse she was compensated well and her husband passed away at 50. He worked for the state pen his entire working life. She travels all the time and does well.
Posted on 5/29/19 at 4:20 pm to TH03
quote:
Sorry you dumb.
Just poor (then). Not dumb.
ETA: Your statement defeats itself by discrediting its source (you) through content.
In other words, you shouldn't misuse English when calling someone dumb.
This post was edited on 5/29/19 at 4:22 pm
Posted on 5/29/19 at 4:20 pm to Geauxtiga
quote:
Tell her cars were only$3,000.00 back then
$7000 average. Not very affordable at $7 an hour.
Mortgage interest rates were between 17-18%.
Gasoline first cracked $1.00 a gallon in 1980.
Median home price at $47200 is misleading. You can still buy houses in the US for about $50k but that’s not what most of us expect to spend.
This post was edited on 5/29/19 at 4:23 pm
Posted on 5/29/19 at 4:20 pm to LB84
quote:
It’s like it doesn’t register in their mind that their purchasing power was quite good for the time period.
To be fair, 6% was considered usury and against the law
The first oil shock hit in the early 70's
The second oil shock hit in the late 70's
The "greed is good" mantra dominated the 80's
Keep in mind that a Coke was a nickel for 60 years!
The problem is wages from back then did not keep up with actual inflation and the cost of living. A single wage earner could support a spouse, afford a house, 2 cars, appliances, 2-4 kids, pets, and a local club membership or two. Individual earnings have eroded greatly since so your peak earning years are past and retirement is eroded quicker without additional current income.
When you see that 70 year old guy working McDonalds it is probably not by choice.
Posted on 5/29/19 at 4:22 pm to JudgeHolden
quote:
I had $28,000 in debt (in real dollars at the time) when I graduated. Adjusting for inflation, that is twice the amount carried by the average grad today.
Where did you go to college? Was that strictly for undergrad degree or did it include law school or med school? Could your number possibly be inflated or is that the true average of all undergraduates in the 1950s?
Edit: from 1960-1969 UPenn costs $1,250/semester for tuition where today it costs $36,208 not including fees
UPenn Historical Tuition
This post was edited on 5/29/19 at 4:28 pm
Posted on 5/29/19 at 4:25 pm to hubertcumberdale
quote:
Was that strictly for undergrad degree or did it include law school or med school?
Just undergrad.
Posted on 5/29/19 at 4:27 pm to JudgeHolden
Where did you go? Ivy league schools costs around $1,250/semester in the 1960s per UPenn where today they are ~36x more expensive
This post was edited on 5/29/19 at 4:28 pm
Posted on 5/29/19 at 4:29 pm to JudgeHolden
quote:
my college debt was TWICE the average load of today’s grad.
LSU tuition was $257 for 15+ hours
(At $7 an hour that’s less than one weeks pay)
Today it’s $11950
($300 an hour equivalent)
Anybody paying $300 an hour for recent college graduates?
Posted on 5/29/19 at 4:31 pm to LB84
I'm 50+ .
I make 3X now than I did when I first got out of college.
However, I still can't afford shite.
Probably has more to do with having a wife and kids than inflation.
I make 3X now than I did when I first got out of college.
However, I still can't afford shite.
Probably has more to do with having a wife and kids than inflation.
Posted on 5/29/19 at 4:32 pm to LB84
Boomers are arrogant assholes
Posted on 5/29/19 at 4:33 pm to TigersHuskers
quote:
Boomers are arrogant assholes
They arent really fans of facts and statistics, just their own personal beliefs backed up by imaginary numbers in their head.
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