Economy

DevoHusker said:
This is misleading as hell. My kids were both born in the 80's. They make more than I do, and both own their own homes.
Click to expand...




No it isn’t. Millennials are worse off financially on average than their parents were at their age. That doesn’t mean no millennials are better off than their parents. I was born in the 80s and make a lot more than my parents did at their highest but that doesn’t mean I don’t understand the difference between a stat and an anecdote. 

 
Last edited by a moderator:
Moiraine said:
No it isn’t. Millennials are worse off financially on average than their parents were at their age. That doesn’t mean no millennials are better off than their parents. I was born in the 80s and make a lot more than my parents did at their highest but that doesn’t mean I don’t understand the difference between a stat and an anecdote. 
Click to expand...
See previous response

 
Really shocking stuff!  People that have worked longer and grew up, often times as first generations Americans and were beaten over the head by their parents to save money...now have more money than younger people?

Never would have thought that.  Never.

 
Frott Scost said:
https://www.google.com/amp/s/www.cnbc.com/amp/2020/10/09/millennials-own-less-than-5percent-of-all-us-wealth.html
Click to expand...
Here is one point I was trying to make. 
 

FT_20.04.27_GenerationSize_3.png


now also, consider Boomers are living longer than the silent generation. 
 

by sheer numbers, the Boomers are going to own a significant amount of the wealth when they are in their 20s and 40s. 
 

They then built up considerable wealth since then.  A heck of a lot of them are still alive. However, as they die off, that wealth will be redistributed throughout the economy. That’s either through inheritance (Gen x and millennials). or one heck of a lot of it will be used up and distributed throughout the healthcare system. A lot of healthcare is spent in the n on set 5-10 years of life. 
 

Im just pissed that I’m a gen Xer stuck between boomers that think everything is about them and millennials that wishes everything was about them. 

 
Last edited by a moderator:
teachercd said:
Really shocking stuff!  People that have worked longer and grew up, often times as first generations Americans and were beaten over the head by their parents to save money...now have more money than younger people?

Never would have thought that.  Never.
Click to expand...




Millennials have less money than their parents did at their age. Although I mostly ignored the % of wealth part. I'm guessing it's less for Millennials than it was comparative to the other generations.

 
Last edited by a moderator:
BigRedBuster said:
Here is one point I was trying to make. 
 



now also, consider Boomers are living longer than the silent generation. 
 

by sheer numbers, the Boomers are going to own a significant amount of the wealth when they are in their 20s and 40s. 
 

They then built up considerable wealth since then.  A heck of a lot of them are still alive. However, as they die off, that wealth will be redistributed throughout the economy. That’s either through inheritance (Gen x and millennials). or one heck of a lot of it will be used up and distributed throughout the healthcare system. A lot of healthcare is spent in the n on set 5-10 years of life. 
 

Im just pissed that I’m a gen Xer stuck between boomers that think everything is about them and millennials that wishes everything was about them. 
Click to expand...




Good point. The way they should have compared this is looked at the % of population for Boomers back when they were in their 20s-30s, and compared it to their % of wealth. Then done the same thing for Millennials.

 
Back
Top