re: Why do old people go to the default argument of $6 coffee when talking about affordability

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Alcohol was a regular expense for a lot of boomers

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And alcohol was very cheap. The six dollar coffee is a great case because until that is eliminated from an individual’s expenses there can be no claim to poverty.

Live off the government mandated program that they were forced to pay into?

Those people?

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They always blame avocado toast and coffee for why younger people can’t afford things, but older generations spent plenty too.

Alcohol was a regular expense for a lot of boomers, and many still spend a lot on it today. So it’s a little rich to act like small daily purchases are the whole problem.

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I'm a Boomer. I own my home outright and have a tidy nestegg to get me by for the remainder of my life.

I've never paid $6 for a cup of coffee. I brew my own pot every day unless I'm traveling away from home. Even then, I drink the stuff that they make at the hotel that is complimentary.

Avocado toast? Yeah, I make it myself. It ain't hard.

because the older generation was raised with greater financial literacy and willingness to sacrifice. They understand the value of compounding interest and are frustrated with the entitlement shown by younger generations who have the biggest asset there is: TIME.

Lets elaborate on the $6 coffee. If you get one every day on your way to class/job five days a week it totals to $30/week. Invest that cash instead in something earning a modest rate of return (lets say 7% which is the number actuaries use in making long term rate of return assumptions). You will have $10,000 in only five years. If you are a little smarter and invest in an S&P index fund earning roughly 14%, you would have over $11,000. and this is just for COFFEE expenditures. Imagine if you decided to give up Zins, Vapes, and random impulse purchases.

Yay! Let’s go into a rabbit hole discussing what should and should not be included in the bureau of labor statistics’ “ bundle of goods” ( which includes both coffee and alcohol) when measuring CPI. We can obviously base it on our own specific moral judgments. Of course, mine is right and yours is wrong.

It’ll be a fun-tastic exercise, or game, if you will.

How many $6 coffees or beers per week will keep one in the “Complaint Justification Zone”? I drove my last car for 20 years. The one I drive now is a 2013 Honda. Am I justified to complain about the price of cars?

On the other hand, maybe we should eat Wal-mart canned tuna and drink tap water before we are allowed to complain.

This thread would go on forever.

Or maybe just be grateful and proud we live in the greatest country……ever…..and complain a lot less.

here's the thing: wealth is relative. Someone will always have more than you (unless you are Elon).

My boomer family lived three generations to a one bedroom house and ate ground beef with rice for dinner, played stick ball in an alley, and wore their clothes until there was nothing remaining to wear anymore. They didn't sit around a bitch about what others had because everyone in their bubble was in the same boat. Now we are all connected via social media and we can SEE what others have and wonder why WE don't have it too. The news and politicians are stoking this envy and using it against us. Now throw in the whole college debt thing (aka, financial literacy having never been taught)

I don't know my Gen names as well as I should but these 20-30 year olds act absolutely entitled to things previous generations never could have dreamt of.

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Do younger generations not drink alcohol? No wonder they’re so miserable

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They like pot, but many still do drink alcohol. Either that or THC drinks.

And when they do drink, they aren’t drinking K&B vodka, Beams #8 whiskey, or Schaefer Light, that’s for damn sure.

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They just moan about SS being reformed because it along with their Medicare is causing the country to go broke

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That's a little different, innit?

In one case you have a group of people who were promised nothing yet act like they were, and who complain about "affordability" while spending money on luxury items they don't need.

And in the other case you have a group of people who have actually been promised something their whole lives and who (IMO understandably) want the government to make good on the promise.

I don't see many Boomers resisting SS/Medicare reforms arguing it on the basis of "affordability." I see it as a simple, "Hey, this was the deal you made us. We had no choice but to participate, and we did. So now make good on your end."

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Alcohol was a regular expense for a lot of boomers, and many still spend a lot on it today.

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Cigarettes were even worse

I’m 35 and our 5 bedroom home is paid for as are our two vehicles and one of my two boats.



Also I don’t drink coffee so….