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It's tougher to move out at a young age compared to generations past. The boomers could graduate HS and have a union factory job which paid enough to put down a payment on a house. Today, kids have to spend years and years in the university system racking up debt and still may not make a living wage. In the time of the boomers a college degree holder was a rarity, and if you had one companies would offer you generous wages and benefits package. Now you see job ads for $12 an hour requiring a bachelors. You can't live on that kind of money comfortably anywhere in the country.
A lot didn't have a choice... they were drafted... of course the military is always recruiting those with needed talent...
First of all, I have a photobooth business and do gay weddings. One of my target markets.
I can relate to the millennial issues, my sibling will be 34 this month, been married and divorced, 3 kids, and has never bought a home. Currently lives rent/mortgage free in my late father's home. Has no clue what responsibility is.
This is the cluelessness many of us get frustrated about.
You did not say WHAT YEAR it was when you started out making 24k. If it was 1990 that would be 46k today. That is not "struggling" - that is a perfectly acceptable starting salary and you were able to do it without a college degree that cost 35k worth of debt.
You were making in the low 30s at some point the 1990s. That is the equivalent of the low 50s today. A 1995 salary of $32k is the equivalent of $52k today.
Oh I'm not clueless at all. Quite the contrary. I never said that I was struggling, but even in the late 90s NYC was still NYC and very expensive. Point is that each generation has its own issues to deal with.The economy wasn't always sunshine and rainbows either when I was growing up in the 80s and 90s. My college, before I dropped out, cost $26k per year. It was very expensive then and still is. It's all relative.
My husband and I are the second to the youngest year of BBers. I can assure you the only "leg up" we received was our own! We left at 17 & 18, right after graduation with our clothes, a car, and a loving wave at the front door.
i'm glad you didn't read my entire post before commenting.
Maybe millennials are staying home longer because wages have been stagnate and rents rising. Some people want to stick their heads in the sand and pretend these things are not happening.
Maybe millennials are staying home longer because wages have been stagnate and rents rising. Some people want to stick their heads in the sand and pretend these things are not happening.
its really expensive just to get out by yourself. nevermind getting a car, etc.
my mom is a baby boomer and she knows everything is probably 5 times more expensive now than it was when she got her own place. she agrees about how bad it is, theres no money left over after bills even if you get the basic apartment and just do the essentials.
now every time the news has a story about spending, they tell us consumer spending is down. i wonder why.....
and now some people are just living at home, but are paying bills in the house. especially in cities like los angeles. nothing should be that high with the amount of industry there.
since the 60's, it was "a shortage" whether it be gasoline or housing. both we found out were not true.
My older friends that were drafted and served all say about the same thing and that was they had to make up for lost time... there was a zeal to get on with life.
It was a sense of urgency and serving put them on the fast track when it came to growing up... they were on their own at 18...
Serving also provided resources... from job training, educational benefits and housing assistance... these all still exist today but those eligible continue to dwindle.
Several of my best friends rose to become Commanders or Lieutenant Commanders in the Navy... they never went home... met their spouses in the Navy and traveled to the far corners of the world.
And that is how the 1% become more wealthy--by convincing the 99% to abandon their wealth with each generation instead of accumulating it. But that wealth doesn't disappear...the 1% gather it up as the 99% abandons it.
Notice that the children of the 1% live with their parents and keep the property in the family from generation to generation.
So true. Pushing the kids to leave home quickly baffles me from a social and economic point of view.
IMO, it is because more and more young people don't see the advantage in being married. (NOT the case 50 years ago!)
Personally, I think that's sad.
Why is that sad? I personally think it's a good think that more people either delay or forgo marriage altogether. Maybe because society no longer considers marriage a prerequisite for happiness, the quality of marriages will increase.
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