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Seniors have always been richer than juniors at least since social security took hold. These are income transfer programs from young people to old people. Old people have had longer to pay their debts and accumulate assets. That's why they are richer. It takes time and they've had time.
That's funny. Many seniors are living on less than $1400 a month. Could you do that and not live in your parents' basement?
And many seniors are now helping their kids, grandkids, and greatgrandkids pay the rent and buy groceries.
I'm no genius and I'm making it so far. I'm just conservative, in my spending and debt levels. Admittedly I do live in a major city (Boston suburbs), but that might just mean those struggling need to move. The American dream never said anything about not being required to move. Rural and remote areas by their very designs won't have many opportunities.
I read things about the olden days which people don't realize. Comments made from the time period are often illuminating and more often then not feel like they could have been made a few days ago. In terms of how people negatively view modern life, there truly is nothing new under the sun.
I found some interesting facts about life in 1955 at one point, and how little people really had back then, tiny houses, few amenities, etc. However I cannot find the source, but I will keep looking.
I'm from one of those rural, poverty stricken area, and with a handful of exceptions, most of the folks I grew up with (late 20s) who remained in rural Tennessee have remained poor. Those who wanted to be middle class or better pretty much got out of the state shortly after college, if not before.
When I got my current job, I had to go to the Boston area for a month for training. I was absolutely amazed coming from rural TN. People, even in small talk, were obviously better educated and had more to talk about. Sure, you're going to have buffoons everywhere, but the aggregate level of intelligence was much greater than back home. People generally looked healthier. We've had a number of people leave and go to competitors and pretty much start immediately, we've also received people from competitors like this. The job market is so healthy there that someone with some in-demand skills can pretty much quit and find something in the next week. Down South, that would never happen, and it may take you months to find something. People also seemed a lot wealthier. Even some of the run-down towns in MA look way better than what you'll find back home in east TN, southwest VA, and eastern KY.
I'm doing a lot better now since I got out of that rural area. I see a lot of prosperity in places like Boston, even here in some parts of Indiana things are going well. There are jobs available, many of which pay fairly well, but you have to have some skills and be willing to get out of the depressed area you may be familiar with to get them.
I fall in this age group. I never really considered myself a "millennial" but I guess I technically am.
There is no excuse for someone in this age group. They have only themselves to blame. With the internet and our level of connectedness, you have unlimited possibility if you have the drive.
Sad to say I feel like others in this "millennial" generation (I honestly don't see how someone born early to mid 80s even compares to someone born 90s and later...times changed so much) feel like they are owed something or are entitled to success or the American Dream. The world owes you nothing.
Not surprising. Although I like where I live, it feels like the quintessential low-wage service sector economy. Luckily it's cheap. I think a lot of the country is like that- jobs pay terrible but it's cheap so you can survive. Millenials need to move out of the high cost cities to relieve some of financial pressure. Or at least be less "poor"
Not surprising. Although I like where I live, it feels like the quintessential low-wage service sector economy. Luckily it's cheap. I think a lot of the country is like that- jobs pay terrible but it's cheap so you can survive. Millenials need to move out of the high cost cities to relieve some of financial pressure. Or at least be less "poor"
There's a lot of truth to that. How many are living in the NorthEast, or SoCal? In my area, housing is still very inexpensive, and taxes are low (no income tax). Plus, there are many jobs where, once you get your foot in the door (not always an easy task), there is plenty of room for upward mobility. I think minimum wage is something like $8.75/hour, but with apartments in the $600-$800 range, and nice houses in the $1000-$1500 range, the dollar can go quite bit further in this area.
We are also in a heavily tip-generated income area, being in Las Vegas. Servers, casino dealers, etc get minimum wage plus tips. While not the norm in the country, many bartenders, servers, etc, are well into six-figures. And valets and doormen are consistently in six-figures. With the low cost of living here, the dollar definitely goes further.
the 18-34 group has always been poor relative to the older age demographics. the student loan bubble is just the nail in the coffin I guess. times have changed. 50 years ago, most high school graduates(or even dropouts) still had a fighting chance at getting a job that could support their basic needs and then some. now, young people go to school, go $50,000-$100,000 in debt only to end up working at starbucks after graduation. the boomers have the holier-than-thou attitude only because they rode the coattails of the biggest era of American prosperity in history. the American dream is hungover from excess and needs to be reinvented. give the 18-34 group a chance to do it instead of writing them off as a lazy and entitled generation
to all the boomers that whine about the "entitled millennial generation", get off your high horse, hypocrites. that's rich coming from the most entitled and racist generation in the last 100 years. you're going to tell me that you didn't act the same way spending your paycheck away when you were young? basically, the boomers are mad about how their kids turned out. they failed to raise them correctly as a result of their selfishness and gluttony. that and racism is dying, so they need to find a new group of people to "hate" that is considered safe. so it is their underachieving kids and their peers. where do you think they learned the entitled attitude from? duh! kids are impressionable. they see you driving around in a $40,000 soccermom suburban going on $5000 vacations 3 times a year and living in that 3000 sq ft house with the picket fence and the fat mom stuffing her face while watching the 1000 channel premium cable package with his paycheck. you don't think they're not gonna want a slice of that pie too without working for it? stop coddling your kids and they won't end up being entitled & lazy d-bags. throw a book(or kindle) at them and cancel the cable if you think the media is turning them into entitled little monsters. while you're at it, right your wrongs and teach them some basic personal finance ffs so that other hardworking people are not paying for their financial blunders.
I am so sick of the level of complainypants coming from the boomers about the millenials when it is actually their fault for putting their own self-gratifications before raising their kids.
the 18-34 group has always been poor relative to the older age demographics. the student loan bubble is just the nail in the coffin I guess. times have changed. 50 years ago, most high school graduates(or even dropouts) still had a fighting chance at getting a job that could support their basic needs and then some. now, young people go to school, go $50,000-$100,000 in debt only to end up working at starbucks after graduation. the boomers have the holier-than-thou attitude only because they rode the coattails of the biggest era of American prosperity in history. the American dream is hungover from excess and needs to be reinvented. give the 18-34 group a chance to do it instead of writing them off as a lazy and entitled generation
to all the boomers that whine about the "entitled millennial generation", get off your high horse, hypocrites. that's rich coming from the most entitled and racist generation in the last 100 years. you're going to tell me that you didn't act the same way spending your paycheck away when you were young? basically, the boomers are mad about how their kids turned out. they failed to raise them correctly as a result of their selfishness and gluttony. that and racism is dying, so they need to find a new group of people to "hate" that is considered safe. so it is their underachieving kids and their peers. where do you think they learned the entitled attitude from? duh! kids are impressionable. they see you driving around in a $40,000 soccermom suburban going on $5000 vacations 3 times a year and living in that 3000 sq ft house with the picket fence and the fat mom stuffing her face while watching the 1000 channel premium cable package with his paycheck. you don't think they're not gonna want a slice of that pie too without working for it? stop coddling your kids and they won't end up being entitled & lazy d-bags. throw a book(or kindle) at them and cancel the cable if you think the media is turning them into entitled little monsters. while you're at it, right your wrongs and teach them some basic personal finance ffs so that other hardworking people are not paying for their financial blunders.
I am so sick of the level of complainypants coming from the boomers about the millenials when it is actually their fault for putting their own self-gratifications before raising their kids.
That's rich coming from a millennial... Your very response supports the image people have of "our" generation. And those $50k-100k degrees aren't becoming worthless for no reason...there used to be basic degrees that were all useful and based on core economic needs. Now we have loads of bull**** degrees that may be "fun" or "interesting" to take courses for but clearly aren't going to pay the bills. College grads have nobody to blame but themselves for a degree that isn't marketable.
My boomer-ish parents worked for what they had (or rather what they sacrificed so that my brothers and I could often get things beyond just what we needed).
I agree, there are plenty of parents that don't know how to raise their children and don't seem to care, but opportunity abounds for young people right now. There has never been an easier time to claim your piece of the pie. You don't even have you get up from the couch any more to make money. I put that blame squarely on the kids...eventually you grow up and go out on your own and at some point no matter how you were raised you find out that bills require money and to get money you need a job.
But the news keeps saying everything is going great! Good luck with ever owning a home.It's more like it owns you. Most people just don't want to wake up and really see how bad things really are. Older people had it much better and now the debt is insane.
Wages don't even come close to how much everything cost's.
But the news keeps saying everything is going great! Good luck with ever owning a home.It's more like it owns you. Most people just don't want to wake up and really see how bad things really are. Older people had it much better and now the debt is insane.
Wages don't even come close to how much everything cost's.
My wife and I (of the "millennial" generation...hate to admit that) followed the recipe...college degree in something useful, then a job, rent first, then a house. No issues. We went through the credit card debt phase, learned the errors of our ways and have since been smarter about budgeting. Why "good luck with ever owning a home"? Nobody buys their first home or two with cash. It is going to own you for a while until you pay it off. That just takes a long time. Don't buy a crazy house if you don't want to be enslaved.
Older people didn't have it better they bought less **** than we buy today. People today think they need every gadget that comes out. And that is great if you can afford it but don't go buying a laptop, tablet, smartphone, smart refrigerator, cable TV, etc... if you don't have the means to comfortably do so.
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