Millennials Are Running Out of Time to Build Wealth #brokebois

[youngwolf]

In almost every way measurable, millennials in the U.S. at 40 are doing worse financially than the generations that came before them.

Fewer millennials own homes than their parents did at their age. They have more debt — especially student debt. They simply aren’t as wealthy.

Now, if predictions of a long, post-Covid economic boom are to be believed, this may be the last opportunity an entire generation has to build wealth before heading off into retirement.

Millennials Hit Age 40 With No Home, More Debt Run Out of Time to Build Wealth

The oldest members of the generation turn 40 this year. They’re only 80% as wealthy as their parents were at this age.

www.bloomberg.com

 

[blastercombo]

Baby boomers went out of their way to ruin everything

 

[TURBO UNO]

Baby boomers went out of their way to ruin everything

My bro stays complaining about his job as architect . The owner is some grumpy (perhaps racist) 80 year old man still working. He keeps my bro at $25 per hour and that’s rock bottom low for what he does, the experience and overall running the place. His schoolmates landed their 1st jobs getting paid $37 to start with zero experience and here is my bro at the same pay and toss in his boss’ hostile nature. Old man if you’re always going to be this grumpy......just retire already and let the next generation get paid. You’re time BEEN up.

 

[Grine]

Or bro can just look for another job

 

[Extrait de Minimalisme]

Baby boomers went out of their way to ruin everything

still ruining. Just cancel these damn student Loans and let’s move on together.

 

[moderndarwin]

still ruining. Just cancel these damn student Loans and let’s move on together.

Need more than that. I’ve paid off my school loans. Can’t ever buy a house in the bay area and i make well over triple digits. Letting foreign investors / wealthy boys throw out cash offers a million over asking for a 3 bedroom shack is impossible.

 

[TURBO UNO]

Or bro can just look for another job

He’s getting his intern hours out of the way since the old man is loose with it. It’s the only thing keeping him there because other firms don’t let you write off as many so easily.

 

[blastercombo]

Or bro can just look for another job

True but to work for who? Another baby boomer?

Those old people were given the ultimate handouts and then set the bar so low for everyone else to come.

 

[blastercombo]

Need more than that. I’ve paid off my school loans. Can’t ever buy a house in the bay area and i make well over triple digits. Letting foreign investors / wealthy boys throw out cash offers a million over asking for a 3 bedroom shack is impossible.

Word. Reset all the markets they jacked up

 

[Brownstone]

My bro stays complaining about his job as architect . The owner is some grumpy (perhaps racist) 80 year old man still working. He keeps my bro at $25 per hour and that’s rock bottom low for what he does, the experience and overall running the place. His schoolmates landed their 1st jobs getting paid $37 to start with zero experience and here is my bro at the same pay and toss in his boss’ hostile nature. Old man if you’re always going to be this grumpy......just retire already and let the next generation get paid. You’re time BEEN up.

Your brother should find employment elsewhere

 

[TURBO UNO]

True but to work for who? Another baby boomer?

Those old people were given the ultimate handouts and then set the bar so low for everyone else to come.

George Carlin on boomers, lol

 

[Brownstone]

I think there is a lot in common between boomers and Gen Z
-They both like to brag about how"frugal" they are with their money
-Both were born into great economies
-Both were swept up in counterculture movements (Feminism, Racial,Trans) etc...
-Addiction to media (Television-Social Media)

Milennials
-We have no money
-No homes
-Cop Jordans and iphones
-Lease whips
-Born into the George H Bush recession
-99 .com bust
- & 08 crash

 

[hennessy]

This is my favorite recurring post on NT Comparing yourself to the generation before you, or anyone for that matter, is an exercise in futility. All my friends are flourishing and most own homes. Not denying it, but I don’t really see the millennial struggle first hand. Most people choose to be broke.

 

[Grine]

Here’s the opposite side of the coin:

 

[getback]

My bro stays complaining about his job as architect . The owner is some grumpy (perhaps racist) 80 year old man still working. He keeps my bro at $25 per hour and that’s rock bottom low for what he does, the experience and overall running the place. His schoolmates landed their 1st jobs getting paid $37 to start with zero experience and here is my bro at the same pay and toss in his boss’ hostile nature. Old man if you’re always going to be this grumpy......just retire already and let the next generation get paid. You’re time BEEN up.

$25/hr as an architect?

 

[getback]

This is my favorite recurring post on NT Comparing yourself to the generation before you, or anyone for that matter, is an exercise in futility. All my friends are flourishing and most own homes. Not denying it, but I don’t really see the millennial struggle first hand. Most people choose to be broke.

Well since your friends are flourishing, everyone else must be.

 

[blastercombo]

I’ve said this before but I’ll say it again, White people were giving Free land away with the land run. All you have to do is run and plant the flag on it and it was yours. That land turned into generational wealth. Are we really going to act like that wasn’t the biggest head start anyone could ever have? Let me know when they start giving away houses and all I had to do was play tag to get it. Imagine getting acres of land and all you had to do was jog half a mile LOL. I’d be Ted Turner

 

[1995]

I don’t really see the millennial struggle first hand. Most people choose to be broke.

It takes an incredible lack of self awareness to make these 2 statements back to back

 

[aepps20]

Very proud of that article. I keep telling people that lib conjecture and innuendo will leave you broke, ugly and with 0 prospects.

 

[Gex the Damaja]

still ruining. Just cancel these damn student Loans and let’s move on together.

I use to think this would be enough but it's clear it's not happening anytime soon if ever. Regardless if this happens or not, I want there to be a breakpoint with how much schools can charge. Stop granting 18 yr olds 50k loans for SOB university in Kickacow, WI and watch SOB university change their pricing scheme. Grad school is another thing completely but let's work on undergrad first.

 

[mplsdunk]

Come to minnesota. Make 100k a year to run a street sweeper. No degree required.

 

[s-blaze]

Come to minnesota. Make 100k a year to run a street sweeper. No degree required.

Mid west in the winters though

How competitive is this position?

 

[mplsdunk]

Mid west in the winters though

How competitive is this position?

you won’t work winters, lots of ot in the summer though.

lots of guys come up from down south and go back home for the winter. Street sweeper was an example of one of the jobs you could get. There’s a million jobs they’re hiring for. I always push union jobs on here. No fighting for a raise, no college and a pension and healthcare.

http://local49.org/about-us/

i work may-thanksgiving. Winter is time to collect unemployment and chill. A co worker lives in Vietnam in the winter. You can do whatever you want.

 

[6 Rings G.O.A.T.]

 

[Brownstone]

$25/hr as an architect?

Supply and demand, Architects are not really a high paying profession. Despite what George Costanza thinks