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Forum » Median income for millennials (sad)
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Thread: Median income for millennials (sad)

post 1494306121 05-01-2017, 02:37 PM
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#181
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Originally Posted By FrankGrimesJr⏩
I'm getting tired people here saying they make $150k and makes ends meet because they have poor money management skills.

If you make $150k and complain you can't make itanywhere on the entire planet, you arecompletely retarded. Even paying $5000/mo rent you still should have plenty of money left over.
fixed
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post 1494333151 05-01-2017, 02:37 PM
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#182
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Why is everyone surprised? This is showing the median income for millennials. There's plenty of millennials making more than that, and the ones making less are living with roommates or their parents
post 1494397811 05-01-2017, 02:40 PM
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Originally Posted By FrankGrimesJr⏩
that sounds more believable. I have a hard time believing when the media keeps boasting $150k is the median income for millennials.
ive never once seen any media outlet report anything remotely like this
A million miles away - I don't.. feel.... anything.
http://www.youtube.com/watch?v=PXGZu4yxjW0
post 1494399121 05-01-2017, 02:43 PM
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Originally Posted By TommyTuffGuy⏩
This chart is exactly what I figured REAL life wages were like. lol. MISC acts like 40K a year is bum chit and it's actually pretty good for the majority of Americans.
Tbh I couldn't even imagine making under $40k. I know that's the reality for almost half of the country, but it seems poverty af. I guess you just get used to what you have, and what the people around you have.
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post 1494415211 05-01-2017, 02:48 PM
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Originally Posted By Murph0408⏩
and yet everybody on the misc makes 75k after college and 150k by age 26. pretty incredible. we're an elite group of posters i guess.
Maybe because it takes a really good drive to stay in shape and lift treefiddy like everyone on the misc. does and that translates really well to business life?


HAHA no one on the misc. lifts though.
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post 1494429111 05-01-2017, 02:51 PM
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#186
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Typical misc analysis of a single source with no consideration of different variables, gj op
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post 1494429361 05-01-2017, 02:53 PM
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#187
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6k figure income crew
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post 1494619781 05-01-2017, 05:03 PM
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#188
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Originally Posted By solidus2k3⏩
6k figure income crew
U w0t m8? You make $10^6,000?!

But seriously, the picture isn't as bleak as these stats make it look. If you look at income stats, it becomes immediately clear that a lack of education and single/no income households drag the average down. If you're in a household with two earners, both of whom have a bachelors degree and work full time, you're almost guaranteed to make 6 figures between the two of you. How do I figure?

Percentage of people in each quintile that have a college degree: 12.9, 18.2, 28.5, 44.6 and 77.2, multiply them each by .2, and you get 2.58%, 3.64%, 5.7%, 8.92% and 15.44%. Those figures represent the percentage of people that fall into a given quintile AND have a college degree. Once you add them up, you get 36.28% of the US population aged 25+ has a college degree. Then, you can divide the percentage of the total population that falls into a given quintile AND has a college degree by the total percentage of people who have a college degree. You find that 42.56% of bachelors degree holders are in the top quintile, 24.59% fall in the next quintile, 15.71% are in the middle quintile, 10.03% are in the second lowest quintile and 7.11% are in the lowest quintile.

The average household in the top quintile earns $181,905 and averages 2.04 earners per household, or $89,169 per earner. The average household in the second quintile earns $82,098 and averages 1.71 earners per household, or $48,011 per earner. The average household in the middle quintile earns $51,179 and averages 1.32 earners per household, or $38,772 per earner. The average household in the second poorest quintile earns $29,969 and averages .9 earners per household, or $32,996 per earner. The average household in the poorest quintile earns $11,490 and averages .45 earners per household, or $25,533 per earner.

If you figure you have a 42.56% chance of earning $89,169, a 24.59% chance of earning $48,011, a 15.71% chance of earning $38,772, a 10.03% chance of earning $32,996 and a 7.11% chance of earning $25,533, you would expect to earn about $60,970.46. If you make the further assumption that you have a spouse and she earns an equivalent income, you make $121,940.92 together, which puts you in the top ~18% of households.

If you think about it a little more, that only assumes a nuclear family where both parents have a bachelors. None of this math assumes you went to a good university, did well, had a relevant major and went into a lucrative field, got a graduate degree, etc, and let's face it, most people with a bachelors degree didn't do any of that, so if you did, there's a great chance you'll make a lot more than $122k.

Cliffs: Lack of education and households with <2 earners skew the stats way down.

Sources:http://www.aei.org/publication/expla...-demographics/
https://en.wikipedia.org/wiki/Househ..._United_States
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post 1497242421 05-01-2017, 08:01 PM
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OP's post is true. This is the new reality. Baby boomer's fuked Millennials over big time.

inb4 'pull yourself up by your bootstrap'

LOL this is late stage capitalism
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post 1497243991 05-01-2017, 08:16 PM
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Thank God I was born a MISCer and a guaranteed 6 figure salary in whatever I do.
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post 1497244841 05-01-2017, 08:24 PM
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#191
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$22K in Cali.....? Jesus.... How the fuk do people even live in that state on that salary unless they're still with mom and pop at home?
post 1497245411 05-01-2017, 08:28 PM
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Originally Posted By bryan324⏩
Why vastly exaggerated? Yes I do believe so, my friends and myself are evidence of it. I have been asked to speak at my old high school on multiple occasions to let kids know there are alternative paths to white collar jobs. Brainwashed morons like you are my target audience, success is largely up to individuals. I have literally had Harvard educated interns at my architectural firm that are clueless, meanwhile we have had community college kids that are fukin rockstars.
you are trying too hard...
post 1497247601 05-01-2017, 08:46 PM
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#193
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Originally Posted By JitteryJoes⏩
OP's post is true. This is the new reality. Baby boomer's fuked Millennials over big time.

inb4 'pull yourself up by your bootstrap'

LOL this is late stage capitalism
From a purely economic standpoint, the standard of living is higher now than at any other point in history, because as you said, we're in late stage capitalism.
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post 1497248551 05-01-2017, 08:54 PM
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#194
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Originally Posted By vt2medellin⏩
From a purely economic standpoint, the standard of living is higher now than at any other point in history, because as you said, we're in late stage capitalism.
brb whats inflation
brb whats housing
brb whats cost of living
brb whats over saturated job market
brb worthless college degrees

LOL at 'standard of living' aka 'oh you kids have a iphone and the internet, u got it easy!'

lmao wow
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post 1497249581 05-01-2017, 09:04 PM
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#195
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Its funny how both libs and conservatives argue over the stupid **** like feminist rape culture and other made up policies meanwhile the suyper rich continue to canabalize the economy and ruin it for both the idealistic millenials and cousin fuking rednecks alike. The rich dont care which political party you belong to, they care about making themselves richer.

Income inequality is the biggest issue and no one gives it any attention. Its the one issue that spans both sides of the isle. This society is not sustainable without a solid middle class that spends money. The next depression will be due to the spending class unable to spend./
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post 1497249911 05-01-2017, 09:08 PM
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#196
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Originally Posted By FlexLex⏩
Its funny how both libs and conservatives argue over the stupid **** like feminist rape culture and other made up policies meanwhile the suyper rich continue to canabalize the economy and ruin it for both the idealistic millenials and cousin fuking rednecks alike. The rich dont care which political party you belong to, they care about making themselves richer.

Income inequality is the biggest issue and no one gives it any attention. Its the one issue that spans both sides of the isle. This society is not sustainable without a solid middle class that spends money. The next depression will be due to the spending class unable to spend./
This.
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post 1497249991 05-01-2017, 09:08 PM
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#197
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I'm 28 and have been making 100K since age of 24


Hoooooly **** this thread is making me so grateful you can't even imagine
post 1497250141 05-01-2017, 09:09 PM
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#198
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Originally Posted By JitteryJoes⏩
brb whats inflation
brb whats housing
brb whats cost of living

LOL at 'standard of living' aka 'oh you kids have a iphone and the internet, u got it easy!'

lmao wow
First off, I'm not some bitter baby boomer complaining about the younger generation, I'm 19 and appreciate the fact that modern capitalism has given me, and most other Americans, a higher standard of living than almost anywhere else in the world and certainly everybody who lived before us.

Secondly, inflation isn't caused by capitalism you fukking idiot, it's caused by essentially socialism. This is how it happens, the government decides to continue to expand and spend frivolously, and when it can't keep up, it starts to increase taxes. Eventually, that becomes unfeasible both politically and economically. Next, we start to borrow, but even that gets hard after a while, so what do we do? We start printing out money to pay for our massive government, and when you print money, you get inflation.

That is the exact opposite of what capitalists want. In the first place, we want to hold the government responsible and keep spending as low as possible so there is never a need to print money to cover the interest on previous loans. Secondly, we want to tie our currency to gold and/or silver, so it is impossible for the government to just print out money, thereby devaluing the money owned by the people. High cost of housing/living is a direct result of big government and central planning aka socialism.
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post 1497250401 05-01-2017, 09:12 PM
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#199
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I'd love to see this compared to buying power and compared to the decades.

Guarantee this is the worst it's been in a very long time.
Belief without evidence is a fools game.

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post 1497250661 05-01-2017, 09:14 PM
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Originally Posted By Lawlstud⏩
I'd love to see this compared to buying power and compared to the decades.
Guarantee this is the worst it's been in a very long time.
The only goods that have risen in price relative to inflation are healthcare and higher education
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post 1497250781 05-01-2017, 09:15 PM
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#201
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Originally Posted By vt2medellin⏩
The only goods that have risen in price relative to inflation are healthcare and higher education
Idk how you forgot housing in there, you know just some of the basic necessities to live, then you can compare to non-college jobs to jobs you need an education for etc etc
Belief without evidence is a fools game.

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post 1497250861 05-01-2017, 09:16 PM
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#202
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Originally Posted By vt2medellin⏩
First off, I'm not some bitter baby boomer complaining about the younger generation, I'm 19 and appreciate the fact that modern capitalism has given me, and most other Americans, a higher standard of living than almost anywhere else in the world and certainly everybody who lived before us.

Secondly, inflation isn't caused by capitalism you fukking idiot, it's caused by essentially socialism. This is how it happens, the government decides to continue to expand and spend frivolously, and when it can't keep up, it starts to increase taxes. Eventually, that becomes unfeasible both politically and economically. Next, we start to borrow, but even that gets hard after a while, so what do we do? We start printing out money to pay for our massive government, and when you print money, you get inflation.

That is the exact opposite of what capitalists want. In the first place, we want to hold the government responsible and keep spending as low as possible so there is never a need to print money to cover the interest on previous loans. Secondly, we want to tie our currency to gold and/or silver, so it is impossible for the government to just print out money, thereby devaluing the money owned by the people. High cost of housing/living is a direct result of big government and central planning aka socialism.
"inflation caused by socialism"

LOL I'm done here.
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post 1497251111 05-01-2017, 09:19 PM
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#203
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Originally Posted By vt2medellin⏩
The only goods that have risen in price relative to inflation are healthcare and higher education
LOL a 19 year old trying to school us.

HE FORGOT HOUSING GUYS!! LISTEN TO HIM BROS! /s

lmao wow.
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post 1497251441 05-01-2017, 09:22 PM
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#204
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Im 28, made 156K last year. I bought my first house at 24 and it was 2000 sqr ft with very nice new furniture in a nice area



Hoooooly ****, I'm so grateful right now you have no idea
post 1497251451 05-01-2017, 09:23 PM
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#205
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Originally Posted By JitteryJoes⏩
"inflation caused by socialism"

LOL I'm done here.
Why don't you use that infinite wisdom to explain why inflation happens?
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post 1497251461 05-01-2017, 09:23 PM
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#206
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Originally Posted By Chicane9⏩
I'm 28 and have been making 100K since age of 24


Hoooooly **** this thread is making me so grateful you can't even imagine
Strong math since on your profile, it says age 29. 13 posts total. May 2017 join date.

troll spotted lmao ayooo
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post 1497251531 05-01-2017, 09:24 PM
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#207
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You mean the misc's bullchit about $600k two days out of college as a STEM is not real?

LOL...
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post 1497251611 05-01-2017, 09:25 PM
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#208
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Originally Posted By vt2medellin⏩
Why don't you use that infinite wisdom to explain why inflation happens?
brb ignoring you, good night sweet prince. may the zyzz be with you.
Originally Posted By Chicane9⏩
Im 28, made 156K last year. I bought my first house at 24 and it was 2000 sqr ft with very nice new furniture in a nice area



Hoooooly ****, I'm so grateful right now you have no idea
troll spotted again. brb troll alert
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post 1497251631 05-01-2017, 09:25 PM
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#209
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Originally Posted By JitteryJoes⏩
LOL a 19 year old trying to school us.

HE FORGOT HOUSING GUYS!! LISTEN TO HIM BROS! /s

lmao wow.


Don't take it from me, take it from Milton Friedman.
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post 1497251901 05-01-2017, 09:28 PM
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#210
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Originally Posted By JitteryJoes⏩
brb ignoring you, good night sweet prince. may the zyzz be with you.



troll spotted again. brb troll alert
You want paystub or w-2?
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