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I think this is missing the point, which wasn't saying that the 18-34 age group should be the wealthiest age group, but just that they are having a much harder time getting off their feet than someone who was 18-34 years old in the 1970's would have.
Decades ago, before NAFTA and so many other structural changes in the economy, the average Joe (or heck, the below average Joe), could finish high school (or maybe not even finish), and land a unionized blue collar job that would buy him a nice ranch house on a 3 acre plot of land. And his wife would have the choice of staying home as a homemaker if she didn't want to work, and they still would have a nice middle class lifestyle. That's not the world of 2015.
Its all relative.
What you described above is a myth imo. I graduated high school in 1974. There is no way that I alone or even with the guy I almost married could have bought a house on a 3 acre plot of land. We could barely afford rent.
I don't know anyone I graduated with that was able to do that right away.
I bought my first "house" when I was 30 and it was an 800 square foot condo for $100,000 with a high interest rate and a mortgage of $1000. In the years leading up to that, because I had moved to a high COL to improve my income, I lived in a group house with 5 people and then apts with roomates. I ate a lot of tuna fish which was cheap then or had dinner from appetizers at the local happy hour.
I had to move to make more money because I could see that advancement where I was would be blocked for many years by the Silent and Greatest Generation. No different than what Millenials are complaining about now.
It has never been easy to get started when you have to work for it yourself.
Younger Millennial here. My SO and I bring in over 115,000 a year, straight out of a state university. I honestly think that one problem is that more people are encouraged to follow their dreams and go to school for theater and arts, instead of the STEM jobs that are in demand and high paying. We've grown up being told we could be whatever we want to be and still be successful, when in reality everyone wants to have a super fun job, as opposed to an office job, while still expecting to make as much.
STEM is only the answer if you have the aptitude and the interest in doing so. If more people flocked to STEM, you wouldn't get paid $115K (not sure if that is combined or each) and would likely get paid say 50K tops. And no I am not knocking STEM itself, just the idea that everyone needs to go in because you'll produce too many graduates and graduates of poor quality. Both aren't good no matter if it's a liberal arts major or whatever, too many graduates and poor graduates are problems.
Younger Millennial here. My SO and I bring in over 115,000 a year, straight out of a state university. I honestly think that one problem is that more people are encouraged to follow their dreams and go to school for theater and arts, instead of the STEM jobs that are in demand and high paying. We've grown up being told we could be whatever we want to be and still be successful, when in reality everyone wants to have a super fun job, as opposed to an office job, while still expecting to make as much.
I'm a Boomer and my parents told me the same thing. I didn't automatically take that to mean I could just show up somewhere and be/do whatever I wanted.
And even if I had, it wouldn't have taken me long to figure out that not everyone who met or employed me felt the same way my parents did about me.
Just a little tidbit from my Greatest Generation Father-In Law..........."Its not supposed to be fun, why do you think they call it work?"
Hardly anyone actually majors in theatre or the arts though, the majority of college graduates in america major in Business, more than any other major combined.
Isn't this the group that voted for our President twice? Wait till Obamacare REALLY kicks in, then they will have something to be thankful.
I am a millennial and Obama didn't relate to me. My older brother is an early millennial, in 2012 Obama didn't relate to him either (not sure on 2008 because he believes Jesus Christ as the Republican nominee with God as his running mate would have lost because of the W. effect.) Don't get me wrong, I am praising what has finally started happening thanks to policies Obama put through and had three years ago, maybe it wouldn't have been "let's see if I think Romney is a little better than Obama" with speeches and debates.
As for Obamacare, it has kicked in for Millennials. Remember up until 26 they could be on their parent's plan and I am sure some are part-time over full-time whether it is Obamacare based or not.
I'd like to know how exactly people have it so much worse now than they did twenty or thirty years ago. Let's see - their parents worked their way through college. They lived in mobile homes or crappy apartments with three or four other people, all who worked at least thirty hours a week at crap jobs, and who paid some or all of their college expenses - generally at community or public colleges. Their parents drove old cars, or used public transportation, and their "starter homes" were tiny, often had one bathroom, were older homes with few if any updates, etc. Their parents didn't eat out often - it was a luxury rather than a daily or even weekly event. They didn't have cell phones, or even cable TV much of the time. Heck, I remember not having a home phone AT ALL - if I needed to use the phone I used the pay phone at the convenience store on the corner.
Today the college GRADUATION rate is higher than it has ever been before. So obviously more people are figuring out how to attend college - and graduate from college. But maybe people should be taking out fewer loans and actually working more hours. Maybe some people should work full time and go to college part time rather than the other way around. Maybe they shouldn't expect to be driving a two year old vehicle or buying a "starter home" at age 26 that's more luxurious than their parents owned at age 46.
Just some crazy ideas of mine...what do I know? I only went five years without buying even a soda because it was a luxury that I couldn't afford if I wanted to avoid student loans and other superfluous debt.
I am a millennial and Obama didn't relate to me. My older brother is an early millennial, in 2012 Obama didn't relate to him either (not sure on 2008 because he believes Jesus Christ as the Republican nominee with God as his running mate would have lost because of the W. effect.) Don't get me wrong, I am praising what has finally started happening thanks to policies Obama put through and had three years ago, maybe it wouldn't have been "let's see if I think Romney is a little better than Obama" with speeches and debates.
As for Obamacare, it has kicked in for Millennials. Remember up until 26 they could be on their parent's plan and I am sure some are part-time over full-time whether it is Obamacare based or not.
Obama related to a lot of Millenials. Sadly, most of his policies have been completely counterproductive to needs of Millenials.
It's a problem among many that will require workers to solve. Just an example.
maybe people should use their SS#.
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