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Posted: 5/26/2024 1:16:14 AM EDT
[#1]
Quote HistoryQuoted: As a millennial, every time I turn around, the economy takes a shit and wealth is erased. Just get out there, 01 crash. Then 08. Then covid recession. Now massive inflation. Combined with there is no SS for us but yet we have to pay for it , yeah, we don't exactly have it easy. How much would one have accrued at this point if they had continuously invested $400/month into a S&P 500 fund in an IRA beginning in 2001 and just left it alone? |
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Posted: 5/26/2024 1:18:47 AM EDT
[#2]
Whaaaa!
Whaaaaa!! It’s everyone else’s fault but my own! That’s all I heard of that video. Bunch of whiny bitchy socialist motherfuckers. Get off the tit and off your ass!! |
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Posted: 5/26/2024 1:19:04 AM EDT
[#3]
Quote HistoryQuoted: I read an article the other day where millennials and Gen Z are blaming high real estate prices on retired Boomers who decided to stay in a bigger home instead of downsizing. I’m not sure if that’s true or if the “writer” just believes it. I guess they weren’t satisfied dividing the country by political parties and race, so now this bullshit. I thought of downsizing to a senior apartment. When I ran the numbers, to have indoor parking and all other amenities, it would have cost as much monthly as staying in my home. Then I'd have old hens wanting me to be a sociable senior. Fuck that... Even selling and buying a condo outright in my area is a downgrade. I'm staying put. |
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Posted: 5/26/2024 1:20:05 AM EDT
[#4]
So many 20 to 24 join dates are similar to the Occupy Wall Street protestors.
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Posted: 5/26/2024 1:22:25 AM EDT
[#5]
Quote HistoryQuoted: As a GenX pushing 50, younger people seem to diverge *strongly* into one of two camps: they either have their shit VERY together about school, work ethic, finances, investments, etc.. or they are COMPLETE fuckups. I don't remember kids my generation being so polarized. Many of the 20-somethings, now 30-somethings I knew were very intelligent and mature compared to my generation (50yo)… I mean, they still did stupid shit, but there are a lot of very bright kids. Or maybe I’m still immature. |
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Posted: 5/26/2024 1:23:28 AM EDT
[#6]
FPNI
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Posted: 5/26/2024 1:23:35 AM EDT
[#7]
Boomers were faced with the same crap newer generations are when it comes to voting choices. Nothing but garbage. I don't see how it could be their fault too much.
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Posted: 5/26/2024 1:25:20 AM EDT
[#8]
Quote HistoryQuoted: As a member of GenX, I have no use for either of those generations. I'm fine with Boomers as long as they don't use the self checkout. |
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Posted: 5/26/2024 1:26:33 AM EDT
[#9]
Quote HistoryQuoted: Get back to me when house loan interest rates are the same as they were under carter.  18% on an 80K home is easier to deal with than 9% on a 300K home... plus the dollar actually had value back then. |
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Posted: 5/26/2024 1:29:49 AM EDT
[#10]
Quote HistoryQuoted: Must be nice for boomers to grow up in a world where you have to be particularly idiotic to not secure a comfortable retirement, if not actual wealth. As a millennial, every time I turn around, the economy takes a shit and wealth is erased. Just get out there, 01 crash. Then 08. Then covid recession. Now massive inflation. Combined with there is no SS for us but yet we have to pay for it , yeah, we don't exactly have it easy. And yet my millennial son owns a house with reasonable payments. He's going to do pretty well in retirement too. All on a Costco wage. (Been there 17 years) But unlike many other millennials, he lives below his means and buys as much Costco stock as his retirement plan allows. He also has a separate Roth IRA for his side gigs. They laugh at the Gen Z'ers attending Costco orientation when they're hiring. Most of them quit the first week because they don't want to work nights or weekends and menial jobs like folding clothes or chasing carts are beneath them. |
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Posted: 5/26/2024 1:30:52 AM EDT
[#11]
Quote HistoryQuoted: I read an article the other day where millennials and Gen Z are blaming high real estate prices on retired Boomers who decided to stay in a bigger home instead of downsizing. I’m not sure if that’s true or if the “writer” just believes it. I guess they weren’t satisfied dividing the country by political parties and race, so now this bullshit. A lot of boomers see their home as part of their retirement fund. When my dad bought a 3 story, 4br house in 1982 for $80k, I'm sure he never expected it to be valued at just short of a mil. Shit that likely outperformed any of his actual investments. Why sell that shit just because someone in my generation thinks they deserve to live in it instead? Do what my newest neighbors did - watch the obituaries and make a reasonable offer to the next of kin when some old widow passes away. |
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Posted: 5/26/2024 1:31:40 AM EDT
[#12]
Quote HistoryQuoted: Boomers were faced with the same crap newer generations are when it comes to voting choices. Nothing but garbage. I don't see how it could be their fault too much. It's not the boomers fault..never was. Young adults are kinda pissed off at boomer because when they asked boomers how it's done, boomers respond "Bootstraps" and "Pension" and "suck dick for money" then "you'll get a pension and a 401k." "Just get a job at the factory like your grandfather did, then after you raise your kids, and after your dad dies, you can afford to build me my mother-in-law house in your back yard...duh!" |
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Posted: 5/26/2024 1:33:03 AM EDT
[#13]
Quote HistoryQuoted: All those things only affected millennials? 1983, lol, I remember. Suck it up!  When the Shit Hits the Fan |
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Posted: 5/26/2024 1:34:20 AM EDT
[#14]
Quote HistoryQuoted: Well the boomers and their idiots parents did nothing to stop 100 million post 1965 invaders from ruining the country. Quote HistoryQuoted: Quoted: I read an article the other day where millennials and Gen Z are blaming high real estate prices on retired Boomers who decided to stay in a bigger home instead of downsizing. I’m not sure if that’s true or if the “writer” just believes it. I guess they weren’t satisfied dividing the country by political parties and race, so now this bullshit. Well the boomers and their idiots parents did nothing to stop 100 million post 1965 invaders from ruining the country. They’re still invading. Are you doing anything to stop them? |
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Posted: 5/26/2024 1:34:34 AM EDT
[#15]
Quote HistoryQuoted: 9% interest on a $20k house ($530 monthly on TODAY's money) is still cheaper than "starter homes" today. At the WORST under Carter, 18% gets you $1,085 monthly in today's dollars. AVERAGE home price 1980 is $47k (or $169k in today's dollars). Today it is $420k. Yeah and minimum wage was less than $2.50 hr, I’m betting. Shit didn’t hit $5 an hour till like 1999. |
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Posted: 5/26/2024 1:37:12 AM EDT
[#16]
Quote HistoryQuoted: Yeah and minimum wage was less than $2.50 hr, I’m betting. Shit didn’t hit $5 an hour till like 1999. Quote HistoryQuoted: Quoted: 9% interest on a $20k house ($530 monthly on TODAY's money) is still cheaper than "starter homes" today. At the WORST under Carter, 18% gets you $1,085 monthly in today's dollars. AVERAGE home price 1980 is $47k (or $169k in today's dollars). Today it is $420k. Yeah and minimum wage was less than $2.50 hr, I’m betting. Shit didn’t hit $5 an hour till like 1999. $3.15 in 1980, if I remember correctly. Got my first job that year for .10 above minimum wage. |
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Posted: 5/26/2024 1:42:40 AM EDT
[#17]
Be interesting to see what the various generations percentage of the budge was for entertainment at the same age. Went to work for myself at age 19, 35 years ago. Maybe a movie a couple of times a year. No cable, over the air TV. I know wages haven't kept up but just looking from what you see on the ineternet a lot (not all) of the current generation want to live as well or better than their parents or even grandparents do now after having built a career over the last 30-60 years. Very hard to start off at the top on the first or relatively new job or even after college.
In high school I made $3.35/hour. Then it was minimum wage to $4.25/hour and I was making $12/hour and then $18. The only comparison I have is a friend got out of the Navy after his 3 years after high school. I offered him a job because he said he couldn't find one. He didn't want a job. He wanted me to sign the deal they used to have to get signed by a possible employeer that they applied so he could stay on unemployment. This stuff is not something new. I've tried to hire a number of people I knew so they could get a foot into it. Nobody walks up and gets hired filing out an application at all. It wasn't "right" for them and I know of at least one person that took less money because they thought the job was "cooler" to tell people what they did. |
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Posted: 5/26/2024 1:43:31 AM EDT
[#18]
Quote HistoryQuoted: Yeah and minimum wage was less than $2.50 hr, I’m betting. Shit didn’t hit $5 an hour till like 1999. No shit. I think it was closer to 6 at that time. I couldn't buy a house @ 18....had to wait till I was 23 to buy a house, fuck, even further proving my point. People, professionals, making 30, 40, $50/hr can not afford to save even the down payment of a median house, much less the $2500/3000 month mortgage. "Roommate wanted $1000/month" Just checked. I rented the entire top story of a 3000 sq/ft house in 2015 for $600/month when I needed room mates...This was in metro Houston. |
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Posted: 5/26/2024 1:44:46 AM EDT
[#19]
Quote HistoryQuoted: Engineering doesn’t really pay well anymore though, does it? “Pay well” as in make what 100k twenty years ago would be today? Nah. But it pays well enough and fulfills the needs I determined for my career that I’d rather do it over other paths I’d considered doing. Stable job market and constant demand is always a plus. |
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Posted: 5/26/2024 1:47:40 AM EDT
[#20]
Quote HistoryQuoted: As a member of GenX, I have no use for either of those generations. I’m fine with Boomers as long as they don’t use the self checkout. |
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Posted: 5/26/2024 1:48:58 AM EDT
[#21]
Quote HistoryQuoted: Houses back in the day only cost 3x to 4x the average salary. Now it's 7x to 8x. The same with cars.  |
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Posted: 5/26/2024 1:49:38 AM EDT
[#22]
Quote HistoryQuoted: Must be nice for boomers to grow up in a world where you have to be particularly idiotic to not secure a comfortable retirement, if not actual wealth. As a millennial, every time I turn around, the economy takes a shit and wealth is erased. Just get out there, 01 crash. Then 08. Then covid recession. Now massive inflation. Combined with there is no SS for us but yet we have to pay for it , yeah, we don't exactly have it easy. Quote HistoryQuoted: Quoted: Boomers didn't whine and worked hard to move up and get ahead to afford homes, vehicles, families, etc. The younger generations should be combined and called whiners as they blame everything on others vs. putting in the hard work to get ahead. Must be nice for boomers to grow up in a world where you have to be particularly idiotic to not secure a comfortable retirement, if not actual wealth. As a millennial, every time I turn around, the economy takes a shit and wealth is erased. Just get out there, 01 crash. Then 08. Then covid recession. Now massive inflation. Combined with there is no SS for us but yet we have to pay for it , yeah, we don't exactly have it easy. So the boomers missed all those dates you mentioned? Bwa HAHAHAHAHAHAHA. That isn't the way it works. |
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Posted: 5/26/2024 1:52:12 AM EDT
[#23]
Quote HistoryQuoted: No shit. I think it was closer to 6 at that time. I couldn't buy a house @ 18....had to wait till I was 23 to buy a house, fuck, even further proving my point. People, professionals, making 30, 40, $50/hr can not afford to save even the down payment of a median house, much less the $2500/3000 month mortgage. "Roommate wanted $1000/month" Just checked. I’m 26, told the wife we’ll continue to wait a few years on housing after I watched a buddy buy a 3/2 1400sqft manufactured home for 350k. |
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Posted: 5/26/2024 1:53:05 AM EDT
[#24]
Quote HistoryQuoted: So the boomers missed all those dates you mentioned? Bwa HAHAHAHAHAHAHA. That isn't the way it works.  |
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Posted: 5/26/2024 1:53:27 AM EDT
[#25]
Quote HistoryQuoted: Those interest rates, though. The houses were so affordable the 12% interest rates..were still affordable, when min wage was 3cents a day in 1985 like the boomers tell me. Boomers talk out of both sides of their mouths. So it was 12% interest on a $13 house while you sucked dick for money but had a pension while incurring no debt while you worked your way through 8 years of college? |
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Posted: 5/26/2024 1:54:25 AM EDT
[#26]
Quote HistoryQuoted: Those interest rates, though. I’d take your rates and prices over the current market everyday of the week. |
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Posted: 5/26/2024 1:54:28 AM EDT
[#27]
Quote HistoryQuoted: All those things only affected millennials? Quote HistoryQuoted: Quoted: Must be nice for boomers to grow up in a world where you have to be particularly idiotic to not secure a comfortable retirement, if not actual wealth. As a millennial, every time I turn around, the economy takes a shit and wealth is erased. Just get out there, 01 crash. Then 08. Then covid recession. Now massive inflation. Combined with there is no SS for us but yet we have to pay for it , yeah, we don't exactly have it easy. All those things only affected millennials? This! Are Millennials and Gen Z that myopic? I also went through the Covid recession (where I saw my life savings drop 20%) and 2008 and 2001 (where I lost 40% of my savings) while paying my mortgage and struggling to save money while putting two kids through college. Plus I went through 1992 and 1987-88 and the Jimmy Carter clusterfuck, when I got out of college and worked a shit job until Reagan turned the economy around. Through thick and thin, I still managed to secure a decent retirement. The economy will always suck and then turn around and then suck again. Work for your own individual success and your own individual future and stop blaming your failures and setbacks on others. |
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Posted: 5/26/2024 2:04:16 AM EDT
[#28]
Quote HistoryQuoted: The houses were so affordable the 12% interest rates..were still affordable, when min wage was 3cents a day in 1985 like the boomers tell me. Boomers talk out of both sides of their mouths. So it was 12% interest on a $13 house while you sucked dick for money but had a pension while incurring no debt while you worked your way through 8 years of college? Quote HistoryQuoted: Quoted: Those interest rates, though. The houses were so affordable the 12% interest rates..were still affordable, when min wage was 3cents a day in 1985 like the boomers tell me. Boomers talk out of both sides of their mouths. So it was 12% interest on a $13 house while you sucked dick for money but had a pension while incurring no debt while you worked your way through 8 years of college? Houses were affordable because people didn't have the money, credit rating, or a stable job for long enough to buy one at 12% interest. THAT is why houses were cheap. |
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Posted: 5/26/2024 2:14:47 AM EDT
[#29]
Quote HistoryQuoted: Engineering doesn’t really pay well anymore though, does it? Quote HistoryQuoted: Quoted: I’ve clearly been told all of gen z is a complete fuck up. Myself included, regardless I’m still doing full time engineering school to further my career and full time work to make ends meet. But arf still likes to call me a fuck up so idk. Engineering doesn’t really pay well anymore though, does it? My two Millennial boys, one of whom majored in Systems Engineering and the other in Computer Science, are both working as management-level software architects earning six-digit salaries. They would rather shove a cactus up their asses than fritter money away. They both drive used Honda Civics. The oldest is a millionaire and the youngest soon will be, as well. I blame their Boomer parents. |
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Posted: 5/26/2024 2:16:05 AM EDT
[#30]
Quote HistoryQuoted: This! Are Millennials and Gen Z that myopic? I also went through the Covid recession (where I saw my life savings drop 20%) and 2008 and 2001 (where I lost 40% of my savings) while paying my mortgage and struggling to save money while putting two kids through college. Plus I went through 1992 and 1987-88 and the Jimmy Carter clusterfuck, when I got out of college and worked a shit job until Reagan turned the economy around. Through thick and thin, I still managed to secure a decent retirement. The economy will always suck and then turn around and then suck again. Work for your own individual success and your own individual future and stop blaming your failures and setbacks on others.  Attached File |
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Posted: 5/26/2024 2:21:02 AM EDT
[#31]
Quote HistoryQuoted: Millennials and Gen Z should buy those smaller houses that the Boomers are refusing to downsize into. Smaller = cheaper and affordable Just right for starter homes. |
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Posted: 5/26/2024 2:26:08 AM EDT
[#32]
They just don't understand how Bidenomics works.
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Posted: 5/26/2024 2:29:26 AM EDT
[#33]
When we started our biz I worked six days a week as the norm. My record was seventeen Sundays in a row. I retired at fifty. I wonder how that happened.
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Posted: 5/26/2024 2:31:45 AM EDT
[#34]
Quote HistoryQuoted: Houses were affordable because people didn't have the money, credit rating, or a stable job for long enough to buy one at 12% interest. THAT is why houses were cheap. Exactly. Single family homes were affordable for lowly, working class people. This is ad nauseam. |
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Posted: 5/26/2024 2:31:59 AM EDT
[#35]
Quote HistoryQuoted: Get back to me when house loan interest rates are the same as they were under carter. THEN add three hosing crashes and Obongo. |
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Posted: 5/26/2024 2:32:29 AM EDT
[#36]
Quote HistoryQuoted: I’d take your rates and prices over the current market everyday of the week. 3% inflation and 7% mortgages? I’ll take that forever. Go figure. |
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Posted: 5/26/2024 2:34:55 AM EDT
[#37]
Quote HistoryQuoted: They just don't understand how Bidenomics works. Go figure.  |
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Posted: 5/26/2024 2:35:52 AM EDT
[#38]
Quote HistoryQuoted: When we started our biz I worked six days a week as the norm. My record was seventeen Sundays in a row. I retired at fifty. I wonder how that happened. |
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Posted: 5/26/2024 2:36:40 AM EDT
[#39]
Quote HistoryCan confirm. The fucking hippies got into parenting and politics and absolutely fucking shit the bed. The non pinko Commies of the baby boomers... I'm sorry your generation fucked everything up. |
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Posted: 5/26/2024 2:37:38 AM EDT
[#40]
Quote HistoryQuoted: As a member of GenX, I have no use for either of those generations. I'm fine with Boomers as long as they don't use the self checkout. |
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Posted: 5/26/2024 2:37:55 AM EDT
[#41]
Quote HistoryQuoted: How much would one have accrued at this point if they had continuously invested $400/month into a S&P 500 fund in an IRA beginning in 2001 and just left it alone? User name checks... |
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Posted: 5/26/2024 2:40:19 AM EDT
[#42]
Quote HistoryQuoted: GenX is best Gen I agree. I self identify as Gen X. Born in the veeeerrryyyy last years one could be considered apart of it. |
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Posted: 5/26/2024 2:43:57 AM EDT
[#43]
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Posted: 5/26/2024 2:44:44 AM EDT
[#44]
Quote HistoryQuoted: You're really going to pull out that card? 18% on an 80K home is easier to deal with than 9% on a 300K home... plus the dollar actually had value back then. Enough with that logic. Boomers worked harder at the box factory sweeping than you could ever imagine. |
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Posted: 5/26/2024 2:44:46 AM EDT
[#45]
Quote HistoryQuoted: I agree. I self identify as Gen X. Born in the veeeerrryyyy last years one could be considered apart of it. In other words, you're an aged Millennial from 1982-1983 desperately grasping at the Gen X straw. Don't feel bad - my daughter does that too.  |
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Posted: 5/26/2024 2:49:16 AM EDT
[#46]
Quote HistoryQuoted: That's actually a really good way to look at it. Signed a genX Quote HistoryQuoted: Quoted: As a member of GenX, I have no use for either of those generations. I'm fine with Boomers as long as they don't use the self checkout. That's actually a really good way to look at it. Signed a genX |
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Posted: 5/26/2024 2:56:59 AM EDT
[#47]
Even if the argument is that boomers had it easier than Gen Z, ok, what's the point? How exactly is the average 70+ year old responsible for the economy in 2024? Should they say, "Hey, it was easier when I was young, I did pretty good. I should give everything I've worked my entire life for to the .gov to distribute amongst young people, because shit is tough right now?" You take what you can get in life, hoard that shit, and (except for your own kids), fuck all ya'll.
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Posted: 5/26/2024 3:07:02 AM EDT
[#48]
Quote HistoryQuoted: Even if the argument is that boomers had it easier than Gen Z, ok, what's the point? How exactly is the average 70+ year old responsible for the economy in 2024? Should they say, "Hey, it was easier when I was young, I did pretty good. I should give everything I've worked my entire life for to the .gov to distribute amongst young people, because shit is tough right now?" You take what you can get in life, hoard that shit, and (except for your own kids), fuck all ya'll. Absolutely not. Boomers don't owe anyone shit. Pretending like they made wine out of water and telling everyone else they did it wrong is what chaps asses. It really is a moot point; I guess it's something for people(that are struggling and as far as they know did everything right) to vent their frustrations. My late Grandfather, probably the most absolutely humble and hardest working "poor" I ever met, told me "If things were like they are now, I'd have just stayed in Sicily." "You're fucked." Thanks Nonno. That man couldn't lie to save his life. |
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Posted: 5/26/2024 3:09:06 AM EDT
[#49]
Quote HistoryQuoted: Boomers didn't whine and worked hard to move up and get ahead to afford homes, vehicles, families, etc. The younger generations should be combined and called whiners as they blame everything on others vs. putting in the hard work to get ahead. Stop. Boomers bought nice homes with factory jobs. |
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Posted: 5/26/2024 3:10:00 AM EDT
[#50]
Quote HistoryQuoted: Get back to me when house loan interest rates are the same as they were under carter. Quote HistoryQuoted: Quoted: Must be nice for boomers to grow up in a world where you have to be particularly idiotic to not secure a comfortable retirement, if not actual wealth. As a millennial, every time I turn around, the economy takes a shit and wealth is erased. Just get out there, 01 crash. Then 08. Then covid recession. Now massive inflation. Combined with there is no SS for us but yet we have to pay for it , yeah, we don't exactly have it easy. Get back to me when house loan interest rates are the same as they were under carter. Inflation Dollar also had much more purchasing power Everything else was cheaper Etc |
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