Agreed with your statement.  

I don't agree with them,  but not one democrat that I know of an friends with would agree with ANY of that spiel. Most generally want a successful country,  but disagree on how to get there.

I am 61, working on my second career.
My paycheck does not go up either.
If I had to buy a house today I could not afford it.
You don't say how old you are, you need to start with what you can afford, not with what you want.
If a shitbox with no property is all you can afford, then that's what you can afford.
If a rusted out shitbox truck is all you can afford, then that's what you can afford.
I am at the very end of the boomer generation and I'll never be able to afford what my parents had.
A 3 bedroom house 2 bath 2 car garage in SoCal they paid $19K for in 1959.
5 acres and a shack just outside of Joshua Tree they paid $20K for in 1980.
A cabin, a house and property in Big Bear. (Vacation/retirement home, rental, investment).
A mobile home in SoCal (Rental).
A house in Huntington Beach (rental).
An RV mobile home.
Put two kids through college (not me).
Helped their grandkids with college and other things.

I consider myself lucky to be able to afford a house and two newish vehicles and a couple of motorcycles at my age.
It's not the house I would like to own, they are not the vehicles I would like to own.

You get by and do what you have to do.

What happened to all that stuff your parents owned?

My two Millennial boys are getting rich. They earn a shit-ton and spend a pittance.

I'm a young Xer (born 77) so I can see things a little from the perspective of both generations.

The amount of readily available shit we don't need to waste money on is incredibly higher now than it was when I was In my 20s, even early 30s.

I make a good living and if 8 year old me saw how 44 year old me lives, 8 year I'll me would say I'm filthy rich.

They sold it, bought other things, spent it as they got older and lived how they wanted to.
If you're asking if there was an inheritance, yes there was.
The fact that I am 61 and still working should be your first clue that the inheritance was not that much.  

Don't let facts like that get in the way of the mass of useful idiots desire for socialism.

This ^^^^^^^^

Yeah, grandma was a commie.

I’m 1981 - considered a weird “Oregon Trail” generation. We didn’t have cell phones in high school, but did right when we graduated. We had to adapt to tech when we were in our 20’s. Now at 40, I agree with you.
I own a business and have hired/fired hundreds of people over the last 20 years.
What I’ve noticed about all generations, is some people are just too fucking lazy.
The people that work hard, and try to better themselves no matter what it takes, always move up and become wealthier.
I’ve found a larger percentage of the younger generations just don’t want to work that hard.

Nothing gets GD emotional like thread titles with Millennial or Boomer in it.

Bottom line is this country has enough of the combinations of bad financial policy, morals and culture that are having a negative impact. And could very well get much worse. Snowball if you will.

Less kids, kids later, houses later. Then add in the issues with federally controlled social retirement programs like social security, disability and Medicare.

It seems the generational labels want to make people overlook objective assessment of just about any issue.

Financial stability takes a lot of hard work, sacrifice and effort but it also takes some luck. My wife and I bought a house about 4 years ago when they started to rise noticeably again. That was concerning. But we are lucky it was well before the last years rises. I don’t think it’s possible in too many areas in the country to get a house payment same or lower than the equivalent rent payment anymore without 20+% down. 20% of 100% value increase is a 100% increase in entry cost.

The look at families with 2 or more kids. Whatever you actually want to calculate inflation at it’s in multiples of that number for larger families.

Those families are not only paying more to raise the next generation but multiple previous generations are benefiting from passing the burden onto those kids. Who may not even be able to afford to directly contribute to the parents in old age that got slammed with rising costs of raising them.

As a Millennial who doesn’t reflect hardly any of what is projected on us in this thread, if asked if I’m worried about my financial future the answer is yes.

Not because I’m going to suddenly become financially stupid, stop working my ass off and exercising discretion between luxuries and necessities.

Because we have been on a path for 30-40 years maybe more that led to this moment. What is it going to look like in another 30-40? When we not only don’t learn and correct course but double down on what got us here on a national scale.

There’s a lot of things I wish I did better or differently in early adulthood but I also wish my 100+k/yr job I had at 24 didn’t vanish in the 08 recession. But I literally went from that to delivering pizza and teaching martial arts out of my garage over-night to claw my way back to a middle class lifestyle in my late 30’s. With more 70+ hour weeks, missed birthdays, games and practices than I’d like to remember. Because for a good decade the only way to make more in a small town was overtime. Still is in a lot of this country.

All so I could say thank god I bought a house 3 years before they skyrocketed l.

My first house at 22 yrs old was $40k. With some work, all done by me, I sold it 7 years later for $95k. Rolled that money into my first home that I built for $280k and sold 7 years later for $400k. I then kept rolling it to the next. If I didn’t know how to do it, I figured it out.

I do not care where you live, you can start somewhere with housing and make money. Seeing people whine saying “I can’t afford housing to start”, just can’t afford where they want to live. It’s call sacrificing today for enjoyment tomorrow. Suck it up buttercup.

Damn

Back in the 30s which was the lowest depth of the Great depression, there was a shit ton of hatred for the wealthy and well off.
Socialism in the United States in the 1930s was as big as it is today.
Why do you think gangsters and criminals like Bonnie & Clyde were so popular and revered?
Because they were robbing banks, the Rich and "sticking it to the Man."

This is how a lot of Americans lived back then:


The Depression didn't end until after WW2.
That's how bad it was.

  Biden's not a boomah, He's part of the silent generation.

Oh yeah I keep forgetting we spend all that Medicare money on young people and not boomers.  

Yep!! Agree! And identical to me.

Our first house a millennial would never live in. Too small, no dishwasher, etc etc. but I never rented/leased an apartment and never wanted to give a landlord a dollar.
At 21 in 2001 I had a girlfriend (now my wife) that could help pay half the mortgage.
Bought a 2 bedroom  635 sq ft 1950’s DUMP, for $108K. Did all the work myself, ripped out carpet, refinished hardwood floors, kitchen, bathroom, everything over 4 year period.
Sold it for $175K in 2005. Rolled that into a nicer 1250sq ft house for $235K. Ended up turning that into a rental for 8 years, just sold for $450k which I rolled into a new build rental.

We also agreed we wouldn’t put kids in this world unless we were financially stable. It appears some don’t do that.

He identifies as a baby so he can sniff them.

Maybe you shouldn't have bought that $1000 iphone and bought a house instead.  You can buy a house for an iphone and an avocado toast.  If it's a really nice house you might have to throw in a pair of sneakers.  

Are your Millennial and Silent Gen representatives in the House and Senate voting any differently for your interests and the best interests of this country than the nasty Boomers and GenX-ers?  If so, I can't see it.

Edit:  An even better yardstick would be to look at who in the House and Senate are actually Millennials, and then look at which policies they propose and support.

38 year old millennial here.
I’ve “made it” with a average iq and no help/inheritance. So it’s possible.
It took sacrifice. Sacrifice that I haven’t seen by 99.99% of people I know.
From joining Navy and staying single, to driving an old beater, to using GI bill and staying debt free in school. When done with school in 2011, broke and no real opportunities, joined the reserves and volunteered 2 more years of service in Afghan and Africa. Came back debt free and about 40k savings to buy a shitty little house.
Worked for a year and then started a little welding shop in home garage. Became so successful so fast, had to get a bigger shop. Sold the house to get a commercial property and got married at this time. Wife and I lived in a makeshift 1 bedroom apartment for 5 friggin years while we grew our business and wealth enough to finally get the house to reflect all those years of sacrifice and working 100 hour weeks.
The house we got was built by boomers. Guy who worked 9-5 at the bank eventually becoming bank president and his wife never worked a day in her life.
Those opportunities for millennials don’t exist anymore. Is there some resentment that I couldn’t live a “normal” life and I had to give up all my prime years to afford a good middle class life? Yup.
But the last laugh is all mine. I could retire right now if I wanted. I’ll go until I’m 45 maybe a little earlier. I’ll still work to preserve my wealth but it will be farming to provide for myself and doing metal projects for trade for necessities.
Do you idiot boomers think I’m going to pay in the max in social security and taxes into the system I have zero chance of benefiting from until I’m 65 and broken? Screw off, you can get your retirement income from some other shmuck. Good luck getting it from the generation of baristas you raised that make up most of my generation. I’m dropping out of this system, and timeline looks like about the perfect time as the boomer monetary policy is wrecking havoc on our country. Soon our fiat currency will be worth nothing, country will be socialist, 401ks non existent and I’ll just smile from my place on the hill while boomers cry as they die off watching everything they loved turn to shit.
As far as not having what I want, I want for nothing. But I’ve never wanted “toys”, that’s some shit for the poors and boomers. Campers, side by sides, boats, all that shit is for the birds and there to keep you a poor. Rent that shit.
Everything I own is for purpose. High quality, lifetime purchases for home and everything else is bought to work, preserve and create wealth, or be more self sufficient.
The world I think we’re heading to, well, I think it’s prudent to be as self sufficient as possible with needed skills to trade in an economy that doesn’t work the way it does now anymore. But then again I’m a doomer because of you boomers who have lived the most best and luxurious life in human history while selling out the younger generations. Don’t be sad when the younger generation says fuck this and refuses to participate in your Ponzi schemes.

When I was starting out in the 1970s I had a hell of a time paying my broadband internet service, streaming subscriptions, cell service with unlimited data, payment on my iPhone, Call of Duty subscription, payments with 20% credit card interest on my hi-end gaming PC and 70-inch flat-screen, Sirius XM subscription so I could listen to Stern, BMW lease, student loans that had supported a luxe college experience.  

I didn't think I'd ever be able to save for a nice house in the burbs after paying for all those necessities.  

 

I hear ya, bro. iPhones were hella spensive in 1973.
Kids these days don't know how good they have it.

Stop spending all your money to impress people on social media you dumb fuck millennials!!!!  I honestly think this is the biggest cause of their problem. That and being subscriptioned to death.

Hear me out…we all know the keeping up with the jones Is a thing for many many people, for a long time. Now with social media they’re trying to keep up with 100s of other people of vastly different careers to show off “look how great my life is!”  Their entire sense of self worth is based on feedback from who can post the most expensive vacation, fine dining, cars and house pictures.

And they’re competing with hundreds of “friends”

Oh, and not being able to cook at home eating out for every meal…that will kill your money.

This has not been the best generation to grow up in. I say this as a millennial with a paid off house and 6 figure job. But I'm well above average. The standard isn't how the top x% do it is how well the average guy does.

Inflation and wage stagnation have hit my generation hard. The looming troubles also weigh heavy on the subconscious. The fact the Boomers failed to pass on any meaningful cultural values or skills doesn't help matters.

Good on you.  And you are absolutely right.  

Every generation has those that can and do, those that can't (won't) and don't.  Hard work, thrift, and the right attitude go a long way towards success.    

First we had iphones and starbucks as the blame.


Next up was spotify and streaming services...

Now we have millennials can't cook.


All stops out of the big boomer book of problems!

Wasn't asking that. Just contemplating in general terms the best way to set up future generations for success. Would it have made a difference to retain those assets? Perhaps they could be borrowed against for future investment or used to generate some kind of income. What's the best way for a family to build generational wealth?

My GF's parents have a house in north San Diego county worth about $1 mil. They will be retiring soon with a modest pension and maybe 100k in the bank. Their health is fine now but their long-term plan is to sell the house and downsize to something smaller or move to assisted living when circumstances dictate. Nobody in the family has broached the subject yet but I don't think that's going to provide much comfort.

Those are all unnecessary expenses. I don’t waste my money on any of that cash draining shit save for a smart phone. And I understand being subscriptioned to death…that 10/20 dollars a month adds up across all the subscriptions.

Let’s look at these “I’m financially” troubled monthly expenses and budget.

For the house bit - the market is crazy now for price and availability.  Won't always be the case.  Patience will pay off.

In the late 70s tons of my generation couldn't afford their first house because of high inflation and stupid high mortgage interest rates.  Houses were unaffordable.  Thank you, Jimmy Carter.  The solution was to save as much as you could and be a renter until the shitstorm passed.

"Millennials say they'll never have enough money to get what they want in life."

Welcome to the picnic!

This talk about subscriptions is a distraction. The real costs are education, healthcare and rent. All of which feature a significant wealth transfer back to our elders and, incidentally, liberals.

$2 a month for a subscription to shit post on an internet forum also, is by definition, an unnecessary expense.

For most people, spending $1000 a month on ammo to shoot, is also very unnecessary. But on arf, if you don't do that - "it's your funeral."


If you don't have 10,000 rounds loaded up in pmags, are you even prepped bro?



My point is, everyone lives life differently.   What is, the coined "American dream" differs from person to person. Differs from income level to income level.  What I want out of life is absolutely absurd compared to others. Some people are happy with their 2 acres and 2000sqft house as their retirement home.

Chances are, I'll never stop working, and at my income level, I think I'd be okay with about 4000 acres of property.  


That being said, the widely accepted definition of "The American Dream" is this: The American dream is the belief that anyone, regardless of where they were born or what class they were born into, can attain their own version of success in a society in which upward mobility is possible for everyone.

Notice: Their own version of success.



Right now, the problem is - there is very little upward mobility.  Really, the future looks bleak - most, will be facing being pushed down economically. Statistically - its already happening.

That's one way to break it down. Another way would be to consider, over a period of time, who owns what percent of the total net worth.

Attached File


Could that explain this?

Attached File

I guess my main point is it’s really really easy now to waste money and be nickel and dimed to death these days. Just grab an Uber!  Before you know it your cashflow is gone. All gone!  Eaten up with nothing to show for it.

I think my keeping up with jones with what is now 100 jones instead of just 2 neighbors holds a lot of merit.  Your neighbors bought houses similar to yours in terms of price.  I have zero desire to keep up with jones or anybody. But it’s a real thing. Social media just amplified it by 1000.

One thing I do know. The older I get, the cheaper/more frugal I’ve become. I don’t want nor need anymore “stuff”.

I sure as fuck don’t want anymore operational expense.

Inflation moving the goalposts isn't new.  Jimmy Carter's malaise upon the White House era gave us simultaneous high inflation, high interest rates, high unemployment, and an energy shortage crisis.  Nobody felt financially comfortable.  We were screwed.  I lost my good union factory job, my wife left me, had to sell the house I built in a seriously down market, I was flat broke and NOBODY was hiring in the rural area where I lived.  The answer is never to whine about the deck being stacked.  The answer was to work hard to advance in the conditions that existed.  No matter how bad the underlying conditions there is a way to improve your own lot.  No fun but doable until conditions improve.

I agree we are currently screwed and don't know when that will end given the lunatics in charge.  But it will end in unicorns and (non-gay) rainbows - eventually.

Keeping up with the jones has always been a thing.  And it has always been a bad thing, I mean, whether your religious or not - it's literally in the bible. "Do not covet your friend's home. Do not covet your friend's wife, his slave, his maid, his ox, his donkey, and all that your friend has."

Before subscriptions, it was cable TV.   Or long distance phone calls. Or 70's motel porn. Whatever it was back then, I wasn't born yet.

Being responsible is, always, part of life. Those who aren't responsible, will fail - in ANY generation, past, present, or future.  



Again, my point isn't that society shouldn't be responsible for their own expenditures.   Just that our government, is ruining our ability to be responsible, with our expenditures, by making our money worthless.

The monetary policy that has taken place over the last decade, more specifically the last 2 years, has never been seen in history.

It cannot be compared to the carter years. Just from the staggering amount of dollars printed.

We're only 2 steps away from millennials can't drive a manual.

Not a millennial but my kids are. You're spot on-wages haven't nearly kept up with inflation.

Yup, it's tough for young folks just starting out.

There is no reasoning with boomers. It's like admitting that they had it better than younger generations creates some kind of existential crisis with them.

And millennials are screwed because boomers are still the most influential voting bloc, and as we saw in 2020 boomers will demand that the entire economy be destroyed the moment they get scared of the flu. There is no amount of hard work or thrift that can compensate for "It's illegal to go to work. Lives are worth more than the stock market, don't you want to save Grandma?"

Agreed, add in the stagnation of wages in large part because those same older liberals outsourced jobs and imported the third world to work here. They destroyed the future for their greed.

The term Boomer has run it's course and is worn out and tiresome.

The new and fashionable label is HNFTG'ers... 'Have No Fucks To Give'

Everything is relative. Wonderful point.

they conveniently leave out that most of the boomer houses built in the 60s and 70s were about 800-1500 sq ft boxes with 1 bathroom and no basement or garage.    they were on average way less than half as expensive because they were way less than half the average house built today.     I sold my 4600 sq ft 3 story brick with 4 bathrooms and 3 car garage in town last year and moved into a 1200 sq ft house.    it's a bit cramped but not bad.  

we would all still be paying 1/4 what we do for healthcare if millennials hadn't been so gullible as to believe obama was really going to give them all that free shit

employee/employer loyalty was a two edged sword.   yes, boomers got a lifetime job and pension and didn't have to worry about unemployment, but as a gen x, moving from one employer to another caused my salary to go up much, much, much faster than it would have had i stayed in one company.   so actually, moving jobs imho is better for the individual and the employer and the overall economy.  it's more efficient.   it does however, require the employee to keep training so their skills are still marketable after they're 50.

quit voting Dem.

The entire aim of the globalists is to get them to pay to participate in the "metaverse" where they can pretend to have a standard of living that the globalists have ensured they will never touch in the real world.

The hollowing out of America is not being done accidentally.

^ That

I've seen piss poor members of every generation.

Building those houses is disincentivized even though there is demand for them.