User Panel
User Panel
User Panel
|
Posted: 2/6/2022 10:52:22 AM EDT
[#1]
What has happened to younger folks? EVERY decision has consequences. Everyone has the opportunity to be financially secure but too many spend everything and save and invest nothing.
So many ifs for excuses. If I had an 8 figure net worth I'd invest in this or that. If someone gave me x amount. If I win the lottery. Try saving and investing a few hundred dollars a month for a few decades. Everyone is not going to have unlimited money to piss away of flashy stuff. The bottom line is that there are many, many opportunities out there but too many are on the sidelines spouting "ifs". They are missing the boat. I know many kids my sons age (young millennial) who are doing great. From Med school to blue collar the kids are making money and building wealth. It is fun to see and more fun to speculate where they will be in 30 years. |
|
|
|
Posted: 2/6/2022 10:54:44 AM EDT
[#2]
Quote HistoryQuoted: My job (I’m the owner) is lockdown proof. In fact revenue went up during the “lockdowns”. Plus I live in a free state, so we never were really locked down. You’re not a tree. If where you are isn’t working for you, move. Good news for any trees in here, if you're cute enough or handsome enough, there's hope for you, too. https://www.wsj.com/articles/the-newest-status-symbol-for-high-net-worth-homeowners-trophy-trees-11619109066 |
|
|
|
Posted: 2/6/2022 10:56:38 AM EDT
[#3]
Quote HistoryQuoted: Those who get what I’m try to say, get it. The rest consider the fact hooked on phonics didn’t work for me. Many are balls deep in the stock market and any realization about monetary supply impacts makes their paper gains seem less genius like.  Attached File |
|
|
|
Posted: 2/6/2022 10:59:57 AM EDT
[#4]
Quote HistoryQuoted: Many are balls deep in the stock market and any realization about monetary supply impacts makes their paper gains seem less genius like. https://www.ar15.com/media/mediaFiles/200878/45CDB824-0823-4DF6-B489-A47EBA78B73C_jpe-2268952.JPG Quote HistoryQuoted: Quoted: Those who get what I’m try to say, get it. The rest consider the fact hooked on phonics didn’t work for me. Many are balls deep in the stock market and any realization about monetary supply impacts makes their paper gains seem less genius like. https://www.ar15.com/media/mediaFiles/200878/45CDB824-0823-4DF6-B489-A47EBA78B73C_jpe-2268952.JPG But if the commentariat class who is CredentialedTM say it's not a bubble? See, because, bubbles are sooooooo old EconomyTM and economic laws ceased to exist because: because: IT'S 2022TM. All that old historical shit is meaningless now get out! REEE ETA: Look silly bigot, history NEEEEVER has this cruel way of dick-slapping people who thought its lessons did not apply to them. |
|
|
|
Posted: 2/6/2022 11:00:11 AM EDT
[#5]
Want to be broke? Get married and have kids! Really want to be broke? Get married and divorced a few times and have kids!
People and Governments can't live within their means. I have single young guys at work making 70k an carrying 100k in credit card debit. Every time they get a "new" card they are showing it off an going out. Sucks being poor 
|
|
|
|
Posted: 2/6/2022 11:01:55 AM EDT
[#6]
Quote HistoryQuoted: You want your first house to sit on an acre or two??? Lol My first house sat on .20 acre. You don’t get it. Keep blaming society. These days you're far more likely to be able to afford something on an acre than something on a postage stamp, especially in GA. Having an acre means you're more rural and likely not in a subdivision. Having a postage stamp means you're likely in the thick of the suburbs with a poorly built $500k McMansion in a subdivision. It's not like an acre is a lot of land in most of the country. An acre is reasonable if you're willing to be more remote... Which is usually the case for people that want land anyways. Now if someone wanted an acre in the middle of an up and coming suburb, your argument would hold more water. |
|
|
|
Posted: 2/6/2022 11:04:33 AM EDT
[#7]
Quote HistoryQuoted: Americans with a job are the richest 1% on the planet and some of the richest people in human history. Not being able to afford quite as much as the other guy down the street is relatively meaningless. Thats a UN new world order talking point. |
|
|
|
Posted: 2/6/2022 11:10:20 AM EDT
[#8]
Quote HistoryQuoted: My Home Depot holdings are worth $1.5M and generate over $60k/year in dividends.  So yea, I could have invested in just HD and been fairly well off. Quote HistoryQuoted: Quoted: “…you should have just invested in FAANG stocks and home depot.” My Home Depot holdings are worth $1.5M and generate over $60k/year in dividends. So yea, I could have invested in just HD and been fairly well off. And companies never cut dividends. And stock prices never go down. |
|
|
|
Posted: 2/6/2022 11:11:52 AM EDT
[#9]
Quote HistoryQuoted: Many are balls deep in the stock market and any realization about monetary supply impacts makes their paper gains seem less genius like. https://www.ar15.com/media/mediaFiles/200878/45CDB824-0823-4DF6-B489-A47EBA78B73C_jpe-2268952.JPG That growth from 88 or so to 99 was amazing! 200 to 1400 or so per your chart. I was too young to have much invested then but good for everyone who did. The 90s were a great time to be investing in stocks. Though 2009 until now is getting close. |
|
|
|
Posted: 2/6/2022 11:12:45 AM EDT
[#10]
Quote HistoryQuoted: Thats a UN new world order talking point. Quote HistoryQuoted: Quoted: Americans with a job are the richest 1% on the planet and some of the richest people in human history. Not being able to afford quite as much as the other guy down the street is relatively meaningless. Thats a UN new world order talking point. When people say, "the GOPe DC-thinktank class is in part to blame too", they mean that ^ They were soothsaying as people "were richer" but, the millions of people who WEREN'T in the upper-class now have a hard time affording children? Because cheap plastic crap is how you measure a society's success.. right? It's going great, but, suicide rates are up, and life expectancy is falling?  The 6-figures and "I can't believe I didn't get a 7% raise this year  " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers.My opinion is that we aren't really a free market capitalist system anymore, it's a crony capitalism game rigged to benefit the small handful of the powerful who get their kids Ukranian oil deals as they make your gasoline artificially expensive (and everything along with it), so their EV stocks go up. The sooner the "heh, I'M doing fine, so, everything must be okay? heh I'm so damn good and chance played no role in my life" morons get that through their fucking heads, the better off we will be. |
|
|
|
Posted: 2/6/2022 11:15:03 AM EDT
[#11]
Quote HistoryQuoted: What about a 150 dollar a month phone bill? Or the fact that the first thing I see the younger generation do when they get a job is buy a car that costs them 30% of their monthly income. Drive a beater for 5-10 years like we did!! And who could afford fast food? LOL. My first apartment my wife and I ate ramen and tuna. grilled cheese. How come my 18 year old who has 3k to his name he saved over a summer job, can afford to eat fast food at lunch everyday? Even tho I have free bread, turkey, cheese, carrots, etc at home? Except whoops, cash for clunkers and Covid, the beaters are all either held together by the paint and mostly converted to rust... Or a mere 25% of your monthly income to finance a piece of shit. |
|
|
|
Posted: 2/6/2022 11:15:17 AM EDT
[#12]
Commercialism is/has drummed into everyone's head 'you don't have to wait for anything' and 'you deserve it'.
I was taught 'use what you have and make do' and 'save up until you can afford it'. |
|
|
|
Posted: 2/6/2022 11:17:01 AM EDT
[#13]
Quote HistoryQuoted: The 6-figures and "I can't believe I didn't get a 7% raise this year " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers. Attached File |
|
|
|
Posted: 2/6/2022 11:21:29 AM EDT
[#14]
Quote HistoryQuoted: Buying a house at 18.5% and being able to refinance at continously lower rates while also enjoying the appreciation impact of continously lower rates IS a massive economic benefit. The absolute best time possible to buy a first home would be at peak interest rates. The worst time possible is at all time low interest rates. 18.5% lasted years. My first house was 19% and ten years later the rates dropped to a low of 10%. Refinancing wasn't free. Today, the rates are so low that I could buy two houses at my first house payment. |
|
|
|
Posted: 2/6/2022 11:24:14 AM EDT
[#15]
Quote HistoryQuoted: Optimists, in their enthusiasm, don’t understand the full import of what’s going on. We see this beautiful mushroom cloud of wealth building over the investor class, but don’t anticipate the inevitable fallout on our society. For the lucky few, there’s also the question of whether we are truly getting richer, or whether we are simply treading water as most around us sink. For example, my net worth is up by 1000 TVs, but it’s not up much at all, as measured in good Acreage. We all hope the optimists are right. I think the optimists in this thread certainly do understand the full import of what's going on. They're just trying to point out how one can use the current circumstances to make more money/build more wealth, understanding it's all relative to the current monetary policy. I haven't seen any of them take the stance that our current monetary policy is anything but a flaming train speeding hell-for-leather towards a blown bridge. |
|
|
|
Posted: 2/6/2022 11:26:13 AM EDT
[#16]
I am happy to laugh along at people with expensive phones and broken down cars.
That said, my brothers are 15 years younger than me and have it significantly harder than I did. I paid $1,520 for tuition at U of I in the late 90’s. It’s now over $8,000. I caddied as a summer job and earned $120-200 a day. My brothers did the same and earned the same. I rented a house with 2 buddies for $600 a month. My brothers did the same for $1,300 a month. I bought my first house in Coeur D Alene for $60k. My brother just got his after years of busting ass and saving for $300k with a 40 minute commute. I bought my first new truck for $22,500. My brother buys cheap used trucks. The equivalent truck today starts close to $40k. Salaries in my industry (construction) haven’t risen at anywhere near the rate of the cost to be a regular dude. Glad I started my life and family before it became such an uphill road. |
|
|
|
Posted: 2/6/2022 11:26:40 AM EDT
[#17]
Quote HistoryQuoted: When people say, "the GOPe DC-thinktank class is in part to blame too", they mean that ^ They were soothsaying as people "were richer" but, the millions of people who WEREN'T in the upper-class now have a hard time affording children? Because cheap plastic crap is how you measure a society's success.. right? It's going great, but, suicide rates are up, and life expectancy is falling? The 6-figures and "I can't believe I didn't get a 7% raise this year " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers.My opinion is that we aren't really a free market capitalist system anymore, it's a crony capitalism game rigged to benefit the small handful of the powerful who get their kids Ukranian oil deals as they make your gasoline artificially expensive (and everything along with it), so their EV stocks go up. The sooner the "heh, I'M doing fine, so, everything must be okay? heh I'm so damn good and chance played no role in my life" morons get that through their fucking heads, the better off we will be. Quote HistoryQuoted: Quoted: Quoted: Americans with a job are the richest 1% on the planet and some of the richest people in human history. Not being able to afford quite as much as the other guy down the street is relatively meaningless. Thats a UN new world order talking point. When people say, "the GOPe DC-thinktank class is in part to blame too", they mean that ^ They were soothsaying as people "were richer" but, the millions of people who WEREN'T in the upper-class now have a hard time affording children? Because cheap plastic crap is how you measure a society's success.. right? It's going great, but, suicide rates are up, and life expectancy is falling? The 6-figures and "I can't believe I didn't get a 7% raise this year " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers.My opinion is that we aren't really a free market capitalist system anymore, it's a crony capitalism game rigged to benefit the small handful of the powerful who get their kids Ukranian oil deals as they make your gasoline artificially expensive (and everything along with it), so their EV stocks go up. The sooner the "heh, I'M doing fine, so, everything must be okay? heh I'm so damn good and chance played no role in my life" morons get that through their fucking heads, the better off we will be. Pretty much, there is still free market competition among the small fish, but everyone serves the big guys in some way or another. The lower class is going to get slammed with the inflation as it really ramps up. I'm bidding jobs that need to be rebid every 30 days because of material increases. These are people my age trying to build a house or a shop, or improve their existing house. Their pay doesn't go up every time material prices jump, that might mean another 6 months of trying to save for it....but then oops, prices just went up again, guess you still can't afford it. Go to the next tier down and see how people that can barely get by making like $18/hr as it is struggle. |
|
|
|
Posted: 2/6/2022 11:28:45 AM EDT
[#18]
Economic conditions beyond their control are not optimal for millenials, but then they weren't optimal for those who came before them.
My father joined the Army to escape poverty. Economic decisions within their control unquestionably play a part for millenials , but then they did for those who came before them. The scale of both those conditions and those decisions come into play at both ends of the spectrum and serve to amplify each other, but at the end of the day only one is within their control and the overwhelming majority refuse to exercise control. I work with a bunch of millenials, they get a $1000 a month vehicle allowance, fuel reimbursement, help with maintenance (tires/oil changes), and there are no year make model parameters beyond it having to be a half ton or better truck. So what do you think they do? Go buy a work truck that they can pay for fully including insurance with their check after taxes? Or do they go buy an F2500 Golden Scrotum Edition 4x4 with hair gel dispenser, 38 gigawatt stereo and 40" Andy Granitelli Gravel Grippers on Chinesium wheels and finance it for 8 years at 16% interest? You already know the answer. Economic conditions will never, ever be to your liking and you have two choices. Wait until they are to your liking (which again will never happen) or make personal sacrifices necessary to succeed in the long game Once you adopt the mantle of victim-hood you are relieved of all personal responsibility, everything is someone else fault. |
|
|
|
Posted: 2/6/2022 11:29:31 AM EDT
[#19]
Quote HistoryQuoted: My opinion is that we aren't really a free market capitalist system anymore, it's a crony capitalism game rigged to benefit the small handful of the powerful who get their kids Ukranian oil deals as they make your gasoline artificially expensive (and everything along with it), so their EV stocks go up. It’s a faux oligarchy. |
|
|
|
Posted: 2/6/2022 11:30:31 AM EDT
[#20]
Quote HistoryQuoted: That growth from 88 or so to 99 was amazing! 200 to 1400 or so per your chart. I was too young to have much invested then but good for everyone who did. The 90s were a great time to be investing in stocks. Though 2009 until now is getting close. Quote HistoryQuoted: Quoted: Many are balls deep in the stock market and any realization about monetary supply impacts makes their paper gains seem less genius like. https://www.ar15.com/media/mediaFiles/200878/45CDB824-0823-4DF6-B489-A47EBA78B73C_jpe-2268952.JPG That growth from 88 or so to 99 was amazing! 200 to 1400 or so per your chart. I was too young to have much invested then but good for everyone who did. The 90s were a great time to be investing in stocks. Though 2009 until now is getting close. Now line it up with this. And we all know what happened to rates in March 2020.  Attached File |
|
|
|
Posted: 2/6/2022 11:31:34 AM EDT
[#21]
Quote HistoryQuoted: I am happy to laugh along at people with expensive phones and broken down cars. That said, my brothers are 15 years younger than me and have it significantly harder than I did. I paid $1,520 for tuition at U of I in the late 90’s. It’s now over $8,000. I caddied as a summer job and earned $120-200 a day. My brothers did the same and earned the same. I rented a house with 2 buddies for $600 a month. My brothers did the same for $1,300 a month. I bought my first house in Coeur D Alene for $60k. My brother just got his after years of busting ass and saving for $300k with a 40 minute commute. I bought my first new truck for $22,500. My brother buys cheap used trucks. The equivalent truck today starts close to $40k. Salaries in my industry (construction) haven’t risen at anywhere near the rate of the cost to be a regular dude. Glad I started my life and family before it became such an uphill road. My cousin tried for two years go buy a house in the Rochester area, it was basically a bidding war on anything that was located in a decent spot and wasn't unlivable. He ended up paying 70 grand over asking, and waiving all inspections to find one, the foundation was shot so he had to get that all repaired. I paid 70 grand for my house after early 2000's bubble, it needed a remodel, but it sits on a secluded acre and was well built. Right now I bet we could list it for 150-200k. It's insanity. Pay hasn't gone up as fast as costs have gone up, especially in the last 10 years. People wonder why the working class is so pissed off and playing the sort staff card now that they can....I would too if I could only afford to drive to work each day and nothing else. I was making 12-13/hr doing shit jobs 15 years ago, and those positions still pay pretty much the same. |
|
|
|
Posted: 2/6/2022 11:37:22 AM EDT
[#22]
Quote HistoryQuoted:...The 90s were a great time to be investing in stocks.... It's always a great time to make investments. |
|
|
|
Posted: 2/6/2022 11:43:55 AM EDT
[#23]
Quote HistoryQuoted: I think you're missing why so many in the Millennial generation were feeling the Bern, and why many more will be heading in that direction. The popularity of Bernie Sanders among Millennials is in no small part due to his promises to cancel student loan debt, which is crippling the Millennial generation. There's an entire generation that thinks they got the shaft by following the advice of those who went before them. Right or wrong, perception is reality and it will inform their voting behavior going forward. There will be a large percentage of the Millennial generation who will easily be bought off by any charismatic politician who promises to solve one of their biggest issues, student loan debt.s Ignore their complaints to your own peril, because this is an issue that isn't going to go away and it will only get worse. Negative. I’ve gotten the point loud and clear for the last five to six years — ‘boomers’ advising millennials on the virtues of, say, going the .mil route to help with college, earning lifelong healthcare benefits, housing benefits, save a little income for later, etc. as a stepping stone into adulthood. Watched millennials laugh and make fun of the mere suggestions. Too good for that shit. I stopped counting years ago the number of folks I’ve met with degrees that, for one reason or another, were max’d out with a $12/hr job pulling 34 hours a week if they were lucky. Carrying student loan debt into their 30’s and 40’s, or just stopped paying on it altogether. And of course, it’s always someone else’s fault. Try to tell young kids this shit and they laugh, absolutely convinced that they’ve got a six-figure income job waiting with their name on it as soon as they graduate college. Guaranteed. lofl At this point I don’t even really care anymore. Not even a little bit. In fact, watching the temper tantrums and meltdowns have become a free form of entertainment. Hell, most of them won’t even listen to their own parents. Ain’t got no time for that drama. I suspect what a lot of em need is to be introduced to a good grown-man ass whooping — amazing results. |
|
|
|
Posted: 2/6/2022 11:45:57 AM EDT
[#24]
Quote HistoryQuote HistoryQuoted: Quoted: The 6-figures and "I can't believe I didn't get a 7% raise this year " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers.If the "bottom" 50.1% of voters realize they have political power, they may use it. 50% capital gains tax? They won't hestitate. Please people have casually talked about "heh, what do I care if your job goes away? My stocks might up a few nickels  "Soo those people have political power, and they WON'T want those stocks unrealized gains taxed at 50%+ to pay for their UBI? We are flirting with disaster here. I don't think the "fix" is socialism, but unless we can acknowledge there is a problem, the people who are living with the problem will have only 1 party's ideas to "solve" them. And they will be redistribution and revenge policies. I think the answer amounts to: "The oligarchs keep putting on engine mods that take us away from free market capitalism, and to crony capitalism and corruption. Remove the engine mods and find out how much power the economy can REALLY make." in layman's terms. |
|
|
|
Posted: 2/6/2022 11:48:16 AM EDT
[#25]
Quote HistoryQuoted: It’s a faux oligarchy. Quote HistoryQuoted: Quoted: My opinion is that we aren't really a free market capitalist system anymore, it's a crony capitalism game rigged to benefit the small handful of the powerful who get their kids Ukranian oil deals as they make your gasoline artificially expensive (and everything along with it), so their EV stocks go up. It’s a faux oligarchy. It is. And if "the bottom" gets mad enough, if they hit 50.1% political power, think someone won't promise to tax all real estate sales at 40% for all people with multiple properties? "We aren't talking about people with one home here. We're talking about wealthy people with several properties. They won't miss the money." If 51% of voters want it, and they're Dems, with the Dem-media help, oh boy. Again I think we need to take the corruption mods off the economic engine here, to get the power output back up to normal. But if we do nothing, and tell someone burning under their shower-water that "haha the water isn't even hot silly!", they will run into the open arms of whoever says they will help. And whatever ham-fisted socialist things they promise. |
|
|
|
Posted: 2/6/2022 11:59:54 AM EDT
[#26]
Quote HistoryQuoted: If the "bottom" 50.1% of voters realize they have political power, they may use it. 50% capital gains tax? They won't hestitate. Please people have casually talked about "heh, what do I care if your job goes away? My stocks might up a few nickels "Soo those people have political power, and they WON'T want those stocks unrealized gains taxed at 50%+ to pay for their UBI? We are flirting with disaster here. I don't think the "fix" is socialism, but unless we can acknowledge there is a problem, the people who are living with the problem will have only 1 party's ideas to "solve" them. And they will be redistribution and revenge policies. I think the answer amounts to: "The oligarchs keep putting on engine mods that take us away from free market capitalism, and to crony capitalism and corruption. Remove the engine mods and find out how much power the economy can REALLY make." in layman's terms. Quote HistoryQuoted: Quoted: Quoted: The 6-figures and "I can't believe I didn't get a 7% raise this year " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers.If the "bottom" 50.1% of voters realize they have political power, they may use it. 50% capital gains tax? They won't hestitate. Please people have casually talked about "heh, what do I care if your job goes away? My stocks might up a few nickels "Soo those people have political power, and they WON'T want those stocks unrealized gains taxed at 50%+ to pay for their UBI? We are flirting with disaster here. I don't think the "fix" is socialism, but unless we can acknowledge there is a problem, the people who are living with the problem will have only 1 party's ideas to "solve" them. And they will be redistribution and revenge policies. I think the answer amounts to: "The oligarchs keep putting on engine mods that take us away from free market capitalism, and to crony capitalism and corruption. Remove the engine mods and find out how much power the economy can REALLY make." in layman's terms. Arbeit mact frei, comrade! |
|
|
|
Posted: 2/6/2022 12:00:35 PM EDT
[#27]
Quote HistoryQuoted: It is. And if "the bottom" gets mad enough, if they hit 50.1% political power, think someone won't promise to tax all real estate sales at 40% for all people with multiple properties? "We aren't talking about people with one home here. We're talking about wealthy people with several properties. They won't miss the money." If 51% of voters want it, and they're Dems, with the Dem-media help, oh boy. Again I think we need to take the corruption mods off the economic engine here, to get the power output back up to normal. But if we do nothing, and tell someone burning under their shower-water that "haha the water isn't even hot silly!", they will run into the open arms of whoever says they will help. And whatever ham-fisted socialist things they promise. There is a real possibility of this happening. Im doing pretty well. I can pay for everything and save a lot. I have no family or kids. I don't know how the fuck people are getting by with families and 2-3 kids making the median household incomes that exist out there. Sooner or later, people give up and give no fucks. |
|
|
|
Posted: 2/6/2022 12:07:44 PM EDT
[#28]
I am a senior millennial at 36.
I benefited from the housing market bubble burst and getting a 8k credit to buy a home that cost 135k. That same home now cost 250+. The job I had back then might pay 4-6k more a year, maybe. So a definite gap. Every generation has/had their own financial hardships. Housing is definitely a issue for my generation. We had cheap housing and a tough job market and now a housing shortage/high costs but plenty of work. My advice, as an elder millennial, be patient keep trying to get a better job with better pay. Don’t stay loyal to the same company unless you are very well taken care of. Don’t bitch about boomers/gen x/zoomers. No one got it easy. |
|
|
|
Posted: 2/6/2022 12:10:56 PM EDT
[#29]
Quote HistoryQuoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? Suppose they take that coffee money ($5 a day, 5 days a week) and invest it instead. An investment which returns an effective 5% annually over 30 years would accumulate over $83,000. If that were in a Roth IRA, it would be tax free. Inflation is another can of worms My kids are millennials and don’t listen to me. They drink their $5 coffees. I used to take a thermos of home brew every and never missed a monthly contribution to my IRA. Now, I’m retired and sit on the lanai and enjoy my morning coffee with over $1M in my IRA. |
|
|
|
Posted: 2/6/2022 12:15:09 PM EDT
[#30]
Quote HistoryQuoted: What has happened to younger folks? EVERY decision has consequences. Everyone has the opportunity to be financially secure but too many spend everything and save and invest nothing. So many ifs for excuses. If I had an 8 figure net worth I'd invest in this or that. If someone gave me x amount. If I win the lottery. Try saving and investing a few hundred dollars a month for a few decades. Everyone is not going to have unlimited money to piss away of flashy stuff. The bottom line is that there are many, many opportunities out there but too many are on the sidelines spouting "ifs". They are missing the boat. I know many kids my sons age (young millennial) who are doing great. From Med school to blue collar the kids are making money and building wealth. It is fun to see and more fun to speculate where they will be in 30 years. Do you want the honest answer? Or the feelz appealing diabetic enabling sugar coated answer? |
|
|
|
Posted: 2/6/2022 12:17:02 PM EDT
[#31]
Quote HistoryQuoted: My advice, as an elder millennial, be patient keep trying to get a better job with better pay. Don’t stay loyal to the same company unless you are very well taken care of. Don’t bitch about boomers/gen x/zoomers. No one got it easy. I job jumped quite a bit until I went out on my own. I rarely stayed on a single crew for more than 2 years. I would call another company, ask if they needed a guy, and when they asked how much I wanted I was say a dollar more an hour than I was currently making. I learned a lot of different ways to do things that way. Now as an employer though I'm scared my own workers will do the same thing. I gave my laborer 3 raises and a big Christmas bonus this year, I want him hungry to show up and work every day, not looking for another branch to swing on. I know I'll lose him eventually, but hopefully he helps train some new blood before then. I try not that get that boomer loyalty mindset in my head when considering what they might be thinking. The help comes to work to make money, so I try to find a balance between a reasonable work day, and more money than they are going to find elsewhere for the same work. We do 8-10 hour days, home every night, and I buy lunch often. I want the help to be able to have nice things, so I try to pay them accordingly. |
|
|
|
Posted: 2/6/2022 12:21:32 PM EDT
[#32]
Quote HistoryQuoted: Suppose they take that coffee money ($5 a day, 5 days a week) and invest it instead. An investment which returns an effective 5% annually over 30 years would accumulate over $83,000. If that were in a Roth IRA, it would be tax free. Inflation is another can of worms My kids are millennials and don’t listen to me. They drink their $5 coffees. I used to take a thermos of home brew every and never missed a monthly contribution to my IRA. Now, I’m retired and sit on the lanai and enjoy my morning coffee with over $1 in my IRA. Quote HistoryQuoted: Quoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? Suppose they take that coffee money ($5 a day, 5 days a week) and invest it instead. An investment which returns an effective 5% annually over 30 years would accumulate over $83,000. If that were in a Roth IRA, it would be tax free. Inflation is another can of worms My kids are millennials and don’t listen to me. They drink their $5 coffees. I used to take a thermos of home brew every and never missed a monthly contribution to my IRA. Now, I’m retired and sit on the lanai and enjoy my morning coffee with over $1 in my IRA. Sounds like you did a bang up job there pops.
|
|
|
|
Posted: 2/6/2022 12:23:02 PM EDT
[#33]
Quote HistoryQuoted: Suppose they take that coffee money ($5 a day, 5 days a week) and invest it instead. An investment which returns an effective 5% annually over 30 years would accumulate over $83,000. If that were in a Roth IRA, it would be tax free. Inflation is another can of worms My kids are millennials and don’t listen to me. They drink their $5 coffees. I used to take a thermos of home brew every and never missed a monthly contribution to my IRA. Now, I’m retired and sit on the lanai and enjoy my morning coffee with over $1 in my IRA. Quote HistoryQuoted: Quoted: I wonder if they completed the survey on their $1,000+ IPhone wearing $200 shoes while drinking an $8 Starbucks coffe? Suppose they take that coffee money ($5 a day, 5 days a week) and invest it instead. An investment which returns an effective 5% annually over 30 years would accumulate over $83,000. If that were in a Roth IRA, it would be tax free. Inflation is another can of worms My kids are millennials and don’t listen to me. They drink their $5 coffees. I used to take a thermos of home brew every and never missed a monthly contribution to my IRA. Now, I’m retired and sit on the lanai and enjoy my morning coffee with over $1 in my IRA. I think among my generation there is a serious distrust in long term investment. Not that it's warranted, just that it's there. They saw a lot of their parents get their portfolios hammered in 2007-2008 and never got an understanding of what that meant and how long the recovery would be. When they heard dad say "Well there goes 10 years work", they took it literally. One thing I have noticed among my peers is a very high level of personal investment. I know lots of millennials that have gone all in working for themselves, although most waited until their 30s to do it. I jumped in with both feet in my early 20's and just kind of learned as I went. The guy down the road is my age and worked as much OT as he could for 5 years, then rolled the whole bankroll into equipment to start a company.....his growth has been exponential because he started with so much capital. My personal strategy until I'm 40 is to just keep rolling most business profit right back into it, new equipment every year so we can tackle larger jobs every year and distance ourselves from competitors. I want to be able to handle any job through a down turn, the small guys can fight for the scraps because they can't bid larger work. We'll see how it goes I guess, but after 40 I want to start rolling that same money into rentals and real estate to try to get some passive income going as I head into my 50's. |
|
|
|
Posted: 2/6/2022 12:24:39 PM EDT
[#34]
Ha! I am on the other side as a people manager now.
I work for a large company so that helps but I know loyal long term employees are rare. Most people in my field that are younger than me have the exact intentions I have. So if I can keep a good worker for a year I hope they are able to move up. It’s the bad ones that want to stick around! Quote HistoryQuoted: I job jumped quite a bit until I went out on my own. I rarely stayed on a single crew for more than 2 years. I would call another company, ask if they needed a guy, and when they asked how much I wanted I was say a dollar more an hour than I was currently making. I learned a lot of different ways to do things that way. Now as an employer though I'm scared my own workers will do the same thing. I gave my laborer 3 raises and a big Christmas bonus this year, I want him hungry to show up and work every day, not looking for another branch to swing on. I know I'll lose him eventually, but hopefully he helps train some new blood before then. I try not that get that boomer loyalty mindset in my head when considering what they might be thinking. The help comes to work to make money, so I try to find a balance between a reasonable work day, and more money than they are going to find elsewhere for the same work. We do 8-10 hour days, home every night, and I buy lunch often. I want the help to be able to have nice things, so I try to pay them accordingly. |
|
|
|
Posted: 2/6/2022 12:27:19 PM EDT
[#35]
Quote HistoryQuoted: At 36, I’m worth more than most people on arfcom. I know I’m not the most wealthy. But certainly part of the 8 digit crowd. I’m just stating: it’s a bad time to try to gather wealth. It’s a great time, to use debt wisely. Didn’t you get into a pre-existing family business? Not doubting your hard work and success, but this is a bit disingenuous. |
|
|
|
Posted: 2/6/2022 12:43:00 PM EDT
[#36]
The writing is on the wall and a whole bunch of you are too myopic to read it: 20 years ago Bernie Sanders was just a laughable crank. Now there are 6 members of Congress that don’t make anything he says sounds particularly shocking. There are an awful lot of people being left behind and you can lecture them as much as you want about how they should have bought Tesla instead of avocado toast but that’s probably not going to make them have any more positive view of the Trumpian or Bidenista or Pelosiite versions capitalism. The future is not looking great and I think there should be some consideration of what is going to happen when the legislative branch isn’t controlled by Pelosi and Schumer but rather creatures like Presley and Bush. This is going to happen when millennials assert their political power as the majority reach 40 and feel entirely cheated. |
|
|
|
Posted: 2/6/2022 12:44:42 PM EDT
[#37]
Quote HistoryQuoted: The writing is on the wall and a whole bunch of you are too myopic to read it: 20 years ago Bernie Sanders was just a laughable crank. Now there are 6 members of Congress that don’t make anything he says sounds particularly shocking. There are an awful lot of people being left behind and you can lecture them as much as you want about how they should have bought Tesla instead of avocado toast but that’s probably not going to make them have any more positive view of the Trumpian or Bidenista or Pelosiite versions capitalism. The future is not looking great and I think there should be some consideration of what is going to happen when the legislative branch isn’t controlled by Pelosi and Schumer but rather creatures like Presley and Bush. This is going to happen when millennials assert their political power as the majority reach 40 and feel entirely cheated. I think many people refuse to acknowledge the situation we have. There are going to be a LOT more losers than winners in this world. It's nice to be one of the "winners." If there end up being too many losers, shit is going to get ugly for everyone. |
|
|
|
Posted: 2/6/2022 12:47:06 PM EDT
[#38]
Quote HistoryQuoted: Didn’t you get into a pre-existing family business? Not doubting your hard work and success, but this is a bit disingenuous.  Attached FileThe have not will always think "silver spoon/handed everything" and like the modern commie or garden variety leftist lemming, discredit or attempt to discredit the haves. Whether self made, inherited, whatever the case may be. Disingenuous would be the have nots or likes of Bernie Sanders, AOC and other retards giving economic advice and insight. Many times in family owned and operated businesses, with each passing generation comes more innovation and progress. It's when shit continues the legacy of complacency, loses to a competitor, sells out to said competitor to get their millions, is when Disingenuous is even remotely applicable. I've known many who inherited shit shows of a business from their ignorant complacent father/grand father and turned them into money printing enterprises. I've known many who took a money printing enterprise and ran it into a dumpster fire. What separates the fails from the successful is the one that succeeds wasn't above or too good for the low guy on the totem pole work, and had to earn his keep no different than the average worker. Had to learn the ropes and know everything. From the bottom to the top. They know responsibilities the likes of which most won't comprehend let alone encounter in their lifetime. Disingenuous.  |
|
|
|
Posted: 2/6/2022 12:50:57 PM EDT
[#39]
Quote HistoryQuoted: i'd say that at least a part of that is because millenials have been taught from birth that happiness is the result of consumption. Quote HistoryQuoted: i'd say that at least a part of that is because millenials have been taught from birth that happiness is the result of consumption. The GOV and big companies want people to spend, spend, spend. Even my boomer mother thinks that spending "helps the economy"  What is truly sad about all of this is that it doesn’t have to be this way. If millennials (or any generation, for that matter) were to collectively trim off just a small and insignificant portion of gross consumer excess, personal savings rates could very easily be +10-20% and above. It wouldn’t even require any true sacrifice. If everyone were to shop around for better insurance rates, switch to a prepaid phone plan, avoid credit card debt, give self-powered commuting a try, take their lunch to work, cook from home more often, reduce their energy waste, and cut cable TV – we’d collectively get there. And we’d be planting the seeds for a much better future for ourselves and subsequent generations. https://20somethingfinance.com/millennial-personal-savings-rate/ |
|
|
|
Posted: 2/6/2022 12:55:18 PM EDT
[#40]
Quote HistoryQuoted: The GOV and big companies want people to spend, spend, spend. Even my boomer mother thinks that spending "helps the economy" https://www.ar15.com/media/mediaFiles/33354/millennials-savings-rate-e1416156474962-2269117.jpg https://20somethingfinance.com/millennial-personal-savings-rate/ Quote HistoryQuoted: Quoted: i'd say that at least a part of that is because millenials have been taught from birth that happiness is the result of consumption. The GOV and big companies want people to spend, spend, spend. Even my boomer mother thinks that spending "helps the economy" https://www.ar15.com/media/mediaFiles/33354/millennials-savings-rate-e1416156474962-2269117.jpg What is truly sad about all of this is that it doesn't have to be this way. If millennials (or any generation, for that matter) were to collectively trim off just a small and insignificant portion of gross consumer excess, personal savings rates could very easily be +10-20% and above. It wouldn't even require any true sacrifice. If everyone were to shop around for better insurance rates, switch to a prepaid phone plan, avoid credit card debt, give self-powered commuting a try, take their lunch to work, cook from home more often, reduce their energy waste, and cut cable TV we'd collectively get there. And we'd be planting the seeds for a much better future for ourselves and subsequent generations. https://20somethingfinance.com/millennial-personal-savings-rate/  I understand what you're trying to say but there are some very large macro economic factors that have caused that and not just because "millennials are lazy over spenders". |
|
|
|
Posted: 2/6/2022 12:56:52 PM EDT
[#41]
Quote HistoryQuoted: /media/mediaFiles/sharedAlbum/deOINby-52.gif The have not will always think "silver spoon/handed everything" and like the modern commie or garden variety leftist lemming, discredit or attempt to discredit the haves. Whether self made, inherited, whatever the case may be. Disingenuous would be the have nots or likes of Bernie Sanders, AOC and other retards giving economic advice and insight. Many times in family owned and operated businesses, with each passing generation comes more innovation and progress. It's when shit continues the legacy of complacency, loses to a competitor, sells out to said competitor to get their millions, is when Disingenuous is even remotely applicable. I've known many who inherited shit shows of a business from their ignorant complacent father/grand father and turned them into money printing enterprises. I've known many who took a money printing enterprise and ran it into a dumpster fire. What separates the fails from the successful is the one that succeeds wasn't above or too good for the low guy on the totem pole work, and had to earn his keep no different than the average worker. Had to learn the ropes and know everything. From the bottom to the top. They know responsibilities the likes of which most won't comprehend let alone encounter in their lifetime. Disingenuous. Quote HistoryQuoted: Quoted: Didn’t you get into a pre-existing family business? Not doubting your hard work and success, but this is a bit disingenuous. /media/mediaFiles/sharedAlbum/deOINby-52.gif The have not will always think "silver spoon/handed everything" and like the modern commie or garden variety leftist lemming, discredit or attempt to discredit the haves. Whether self made, inherited, whatever the case may be. Disingenuous would be the have nots or likes of Bernie Sanders, AOC and other retards giving economic advice and insight. Many times in family owned and operated businesses, with each passing generation comes more innovation and progress. It's when shit continues the legacy of complacency, loses to a competitor, sells out to said competitor to get their millions, is when Disingenuous is even remotely applicable. I've known many who inherited shit shows of a business from their ignorant complacent father/grand father and turned them into money printing enterprises. I've known many who took a money printing enterprise and ran it into a dumpster fire. What separates the fails from the successful is the one that succeeds wasn't above or too good for the low guy on the totem pole work, and had to earn his keep no different than the average worker. Had to learn the ropes and know everything. From the bottom to the top. They know responsibilities the likes of which most won't comprehend let alone encounter in their lifetime. Disingenuous. Did you forget to log out of your other account? |
|
|
|
Posted: 2/6/2022 12:57:30 PM EDT
[#42]
I worked 4 hours OT each weekday and 12 hours every Saturday and 8 every Sunday.
80 hour workweeks for years. Also every holiday. Yes even Christmas and New Years day. If you want to succeed you have to work for it. I didn't have cable TV just an outside antenna for the "free' channels and I took that down 15 years ago when I stopped watching any TV. |
|
|
|
Posted: 2/6/2022 12:58:25 PM EDT
[#43]
Quote HistoryQuoted: Ok boomer. Cry harder, zoomer. |
|
|
|
Posted: 2/6/2022 12:59:13 PM EDT
[#44]
Quote HistoryQuoted: I worked 4 hours OT each weekday and 12 hours every Saturday and 8 every Sunday. 80 hour workweeks for years. Also every holiday. Yes even Christmas and New Years day. If you want to succeed you have to work for it. I didn't have cable TV just an outside antenna for the "free' channels and I took that down 15 years ago when I stopped watching any TV. |
|
|
|
Posted: 2/6/2022 12:59:41 PM EDT
[#45]
Quote HistoryQuoted: Ok boomer. Cry harder, zoomer. |
|
|
|
Posted: 2/6/2022 1:02:07 PM EDT
[#46]
It’s the first generation to be strapped with huge student debt for what turns out to be useless degrees.
|
|
|
|
Posted: 2/6/2022 1:03:04 PM EDT
[#47]
Quote HistoryQuoted: That is literally the more ignorant response that could possibly be posted. Fitting for arfcom I guess. And no it really isn’t an ignorant response. |
|
|
|
Posted: 2/6/2022 1:04:51 PM EDT
[#48]
Quote HistoryQuoted: In red is what the *muh bootstraps* idiots don't seem to get. We are in the early stages of the exact situations that led to the rise of facism and communism in the 1920s/1930s and the French revolution in the 18th century. It's not about not buying a god damn iphone or eating avocado toast. Arbeit mact frei, comrade! Quote HistoryQuoted: Quoted: Quoted: Quoted: The 6-figures and "I can't believe I didn't get a 7% raise this year " WFH laptopclass is totally in denial about what's going on for the bottom 50% of workers.If the "bottom" 50.1% of voters realize they have political power, they may use it. 50% capital gains tax? They won't hestitate. Please people have casually talked about "heh, what do I care if your job goes away? My stocks might up a few nickels "Soo those people have political power, and they WON'T want those stocks unrealized gains taxed at 50%+ to pay for their UBI? We are flirting with disaster here. I don't think the "fix" is socialism, but unless we can acknowledge there is a problem, the people who are living with the problem will have only 1 party's ideas to "solve" them. And they will be redistribution and revenge policies. I think the answer amounts to: "The oligarchs keep putting on engine mods that take us away from free market capitalism, and to crony capitalism and corruption. Remove the engine mods and find out how much power the economy can REALLY make." in layman's terms. Arbeit mact frei, comrade! This is what should worry us. Their economic power is leaving, but they will have political power. If it has only ONE place to go, then it will go there. These people will vote for a reality TV star, fresh off a P-word tape, in an "unwinnable" election, voting for the first time, in huge numbers in "Deep blue states that are not in play" - if they believe it will help their situation That literally fucking happened. If the dems/left figure that out, and the GOPE keeps right on with the "capitalism is a church and anything that upsets the thinktanks is socialism" crap, they'll hand those voters to a Bernie Sanders/AOC. |
|
|
|
Posted: 2/6/2022 1:05:33 PM EDT
[#49]
Quote HistoryQuoted: There is a real possibility of this happening. Im doing pretty well. I can pay for everything and save a lot. I have no family or kids. I don't know how the fuck people are getting by with families and 2-3 kids making the median household incomes that exist out there. Sooner or later, people give up and give no fucks. Quote HistoryQuoted: Quoted: It is. And if "the bottom" gets mad enough, if they hit 50.1% political power, think someone won't promise to tax all real estate sales at 40% for all people with multiple properties? "We aren't talking about people with one home here. We're talking about wealthy people with several properties. They won't miss the money." If 51% of voters want it, and they're Dems, with the Dem-media help, oh boy. Again I think we need to take the corruption mods off the economic engine here, to get the power output back up to normal. But if we do nothing, and tell someone burning under their shower-water that "haha the water isn't even hot silly!", they will run into the open arms of whoever says they will help. And whatever ham-fisted socialist things they promise. There is a real possibility of this happening. Im doing pretty well. I can pay for everything and save a lot. I have no family or kids. I don't know how the fuck people are getting by with families and 2-3 kids making the median household incomes that exist out there. Sooner or later, people give up and give no fucks. Something something muh bootstraps something something avocado toast and that explains it. 2030: "Omg why do they want a 50% tax on all sales of real estate by people who own more than one home, REEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE!" ETA: If the bottom 50%'s suffering or perceived suffering, is not something that gets talked about? They wont give a fuck at all about the plight of a top 30%'s suffering, they will be utterly indifferent and continue full speed ahead. IF "might makes right" is how it goes? They will play by those rules. And as the bottom 50% becomes 55%, 60%, the amount of political power they wield will balloon. |
|
|
|
Posted: 2/6/2022 1:06:41 PM EDT
[#50]
Quote HistoryQuoted: Ok boomer. It is a valid observation. |
|
|
Win a FREE Membership!
Sign up for the ARFCOM weekly newsletter and be entered to win a free ARFCOM membership. One new winner* is announced every week!
You will receive an email every Friday morning featuring the latest chatter from the hottest topics, breaking news surrounding legislation, as well as exclusive deals only available to ARFCOM email subscribers.
AR15.COM is the world's largest firearm community and is a gathering place for firearm enthusiasts of all types.
From hunters and military members, to competition shooters and general firearm enthusiasts, we welcome anyone who values and respects the way of the firearm.
Subscribe to our monthly Newsletter to receive firearm news, product discounts from your favorite Industry Partners, and more.
Copyright © 1996-2024 AR15.COM LLC. All Rights Reserved.
Any use of this content without express written consent is prohibited.
AR15.Com reserves the right to overwrite or replace any affiliate, commercial, or monetizable links, posted by users, with our own.
