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I think this is a serious question that needs asked. Many of the Millenials have got a huge "boost" from their parents and grandparents who saved enough money to pay for their college, wedding, 20% down on their house, pay for their car when they turned 16, etc. From the looks of it, these same Millenials aren't on track to have enough of a net worth to do any of the same for their kids. When the average net worth of a nation's citizens reaches $0 or negative, that's when it is essentially a 3rd world country even if it doesn't look like one yet.
Baby boomers are mostly retired. Millennials are working and supporting them. In fact, baby boomers only contributed about a third of the Medicare benefits they receive. They are depending on those Millennials to pay the other two thirds. Think about that. These snowflake baby boomers that lived a life of pensions, a single career often with minimal education, unlimited Medicare, Medicaid for their nursing home care, Social Security, etc. are being completely supplemented by the younger working generation.
Baby boomers are mostly retired. Millennials are working and supporting them. In fact, baby boomers only contributed about a third of the Medicare benefits they receive. They are depending on those Millennials to pay the other two thirds. Think about that. These snowflake baby boomers that lived a life of pensions, a single career often with minimal education, unlimited Medicare, Medicaid for their nursing home care, Social Security, etc. are being completely supplemented by the younger working generation.
Not exactly. There's another generation at the peak of their earnings arc sandwiched between the Millennials and the Baby Boomers, and a large portion of the money for those programs is coming from us. And some Baby Boomers are still paying into the system themselves. Furthermore, let's not forget that there are a whole bunch of Silent Generation members still kicking around, too.
I think this is a serious question that needs asked. Many of the Millenials have got a huge "boost" from their parents and grandparents who saved enough money to pay for their college, wedding, 20% down on their house, pay for their car when they turned 16, etc. From the looks of it, these same Millenials aren't on track to have enough of a net worth to do any of the same for their kids. When the average net worth of a nation's citizens reaches $0 or negative, that's when it is essentially a 3rd world country even if it doesn't look like one yet.
The Millennials are the entitled generation. They've all been told that they're special and are rewarded even if they don't accomplish a thing. Almost none of them are getting married and they will have far fewer children. The small number of kids they have, will mostly be raised by their grandparents or will burn out living on the streets. Our society won't have much to keep it going, without immigrants.
Last edited by Steve McDonald; 12-04-2016 at 01:58 PM..
Not exactly. There's another generation at the peak of their earnings arc between the Millennials and the Baby Boomers, and a large portion of the money for those programs is coming from us.
Based on what data? In my area the millennials are college educated, making good money and are working hard. I would never attack them considering I think they've been left with a very challenging environment and yet they are finding ways to navigate it, buying homes at a younger age and contributing to 401Ks because they doubt Social Security or Medicare will be there for them.
Based on what data? In my area the millennials are college educated, making good money and are working hard. I would never attack them considering I think they've been left with a very challenging environment and yet they are finding ways to navigate it, buying homes at a younger age and contributing to 401Ks because they doubt Social Security or Medicare will be there for them.
People born between 1961 and 1981 are currently in their peak earning years and most of us are still twenty or more years from retirement. Some of us even have Millennial children we're preparing to send off to college in a couple of years. We pay taxes, too. A lot of them, as a matter of fact.
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