A high mortgage rate with a small principle opens up the opportunity to make a very significant dent with your down payment, doesn’t it? Done properly, wouldn’t that be preferable in comparison to inflated prices and a low mortgage rate in most cases? Genuinely curious.

Destitute in more than money - IQ for one. But there are safe levels of blame and cope.

Technology has made nearly every facet seamless. People may have had more earning power in the past in relation to cost of living but it took a lot more effort.

#paymyloans

I have two friends that are professors...There would be a riot if people REALLY knew how the insanely high tuition was being spent.

Most professors teach one or two classes each semester because the school wants them to publish articles/papers. My buddy flies around the world on the students dime drinking beer and writing books about beer which he in turn sells. He also writes text books that the students tuitions fund only to turn around and sell them back to the students that are forced to buy these books via the university curriculum. He also spends millions of students dollars a year on satellite time and computer hardware for his environment impact studies that he gets published that have virtually zero value/benefit to the students.

He told me the school could easily get rid of 80% of the professors and reduce tuition by 80% if they simply focused on teaching students. He said if an actual accounting of the expenditures was published for the students to see where their money was being spent, there would be an immediate riot.


You cant be mad at the boomers for college tuition. There should be general accounting and public outrage at how Public universities are manage.

We don't make a very good income. We do OK. We definitely aren't rich. But we definitely have learned to live within our means. It'a such a relief to not have to worry about bills any more. It makes life so much more enjoyable.

I am so much better off than my boomer parents were at my age, it’s not even funny

Ehhhhhhhh.

That first chart is a percentage of national wealth, and conceals the fact that national wealth has increased several times over over the same time period.

Millenials are probably out-earning boomers at the same age, even adjusted for buying power. They just spend a lot more, and not just on avocado toast.

When I was a kid, we went to Six Flags overnight by car, 100 miles away. Then you had Disney Moms who flew their kids to Orlando every single year. Now Millenials sit on the beach in Crete without kids.

Multi-faceted problem.

Starts with poor education system that doesn't equip kids for adult life and then pushes higher education with no focus as a must to succeed. Then government backs students loans and you get colleges raise college costs exorbitantly. So you get uneducated youth population, going far into debt for a useless degree.

Older generations not retiring when they should and staying in the workforce. To be fair, a lot of them in my workplace seem to be paying for their adult kids and/or raising their grandkids and can't afford to retire due to that unexpected turn of events.

Add in growing up as nothing more than a consumer. Got to have the shiniest toys and spend, spend, spend. Used to be known as "keeping up with the Jones'", but referred to career professionals. Now younger people are living that lifestyle and it is killing them.

Throw in victim mentality.

Add in the expectation to be able to live a high-lifestyle immediately without any self-sacrifice. I deserve that 2500 sq ft home with custom built everything. I deserve that $30k bmw in my 20's.

Desire to be a multi-millionaire or nothing at all.

Not understanding that you can be happy without a huge salary, but it doesn't happen overnight and requires sacrifice early in life.

I joined the military when I saw the amount of college loans accruing. Bought a small (less then 900 sq ft) condo and lived off of peanut butter sandwiches/ramen/potatoes (i.e. low cost) and saved, saved, saved. Never had the most expensive anything, used car, small tv, cheap phone, didn't go on a honeymoon, first vacation wasn't until I was in my 30's. Served my military time, learned a trade, made contacts. Got out, got an entry level job, worked hard, went to night school and continued to save. Received promotions increased salary, still driving hoop-de truck and living lean. Made smart investments, continued to receive promotions/raises. While we now live more comfortable, I still have a cheap phone, drive the same beat up truck, and aim to save/invest most of my pay. I started out with 15k debt (college), no college degree, no workforce experience, nothing more to my name.

I graduated high school in 05 and fell into the "get a degree in ANYTHING and it will benefit you greatly" trap. BUT, I went to CC and then a local university while living at home so that my old man could afford it without me having to take out loans. Graduated in 2010, spent 2 years rotting at chit jobs because recession and overabundance of 20 somethings with useless degrees. Started working in the trades in 2012. Bought my first home in 2016, got married, sold that house then bought another this year and live a very comfortable life (financially speaking). Biggest mistake of all that was wasting 7 years in college and then after rather than going into trades work immediately after high school.

My son is going to be born in a couple of months, momma and I have already started his college fund, BUT it will only be used for that if he actually wants to go, and is working towards a degree that will secure his financial future. Otherwise it goes towards my early retirement.

There's truth on both sides. Yeah, there are a lot of millennial dip shyts doing really stupid stuff, but lol @ if you think there aren't many highly unfavorable circumstances being faced as well.

Not bragging. Showing that you don't have to be the poorest generation. It just requires sacrifice and work. That's how people used to live and why simply blaming past generations isn't fair.

The benefit is living comfortably in your late 30s, living really comfortable in your 40s-50s, and not worrying over much on retirement later in life. I will be able retire in a couple years mid-40's (assuming everything doesn't go to complete crap in the country which is no safe bet now) and just do what I enjoy. I have no regrets.

If you want to live life to the fullest, live paycheck to paycheck, in your 20s, good on you. Live your best life.

If finance legit? Srs

My parents bought their house 20 years ago.

My dad was making 100k as the owner of a small carpet shop, my mom was making 50k in insurance. 20 years later my dad is still making 100k and my mom is making 65k.

The house has gone from being worth 500k to 950k.

20 years ago the owner of a small carpet shop married to a woman making 50k in insurance could comfortably afford a single family home in a safe suburb with good schools.

Not the cases anymore. Millennials are gonna be ****ed

Boomers are entitled kunts and so are the majority of their kids (my generation). Boomers feel entitled to drive luxury cars and live in mcmansions. Millennials feel entitled to craft beer, craft food, and travel. Both generations are full of kunts imo. The last great generation were our grandparents. Most of them grew up in the great depression and had to struggle. Every generation since hasn't really had to struggle much to get by.

actually my mom bought me a xbox one x instead of a xbox series x and now they are sold out, ****ing stupid sloot.

Living in complete squalor with no assets and no federal programs to help doesn’t seem like the GOAT generation to me. Most of those families would still be in complete disarray if it wasn’t for WW2.

Would rather live well young and max out 401k every year along with making an investment here and there.

The one thing you can’t get back is time, you’ll never be young again. Saving every penny for your 50s is a mistake.

A good chunk of the population aren’t going to be able to afford to max out their 401k every year in their 20’s. The average household (meaning more than one) income in the USA is $65k. If the average household income were to max out their 401k contribution they would be living pretty poorly after tax. Not to mention maxing out your 401k should only occur after other investments have been made first.

why wouldnt they be?
retarded thread is retarded

wealth takes time. 30 years from now ppl will make the same posts except millennials will be the richest and the new gens will be the poor ones

TLDR It's a problem but not as big as fear mongers make it out to be.

Yeah, in my 20’s it was a slow build up. Most of my investments were growing mainly from contributions. In my 30’s, those investments are starting to take off.

Same for career wise, started off working an entry level position in the recession, had to deal with a lot of bull**** along the way, with most salary jumps coming from job hopping every one to two years. Now, it’s more settled and making a lot more money than back then.

There’s a lot a person in their 20’s can be doing to save, invest, and still have a lot of fun. It’s just takes being prudent.

Probably too much to hope the next generations aren’t such whiny phucks at that time, but fingers crossed

If you’re only making 65k as a dual income you should be focusing on making more money.

A 33k salary should not be concerned with investing

I feel like, in general, boomers ****ed us and the next generation learned from our mistakes

My family taught me right but I know so many people my age who still live at home and working low-income jobs while spending **** ton of money on luxuries

yolo!

College is a problem because the discussion revolves around how to get in and pay for it rather than getting the best return.

Earning some credits at a community college is much cheaper than at a university. Unless a scholarship or grant is involved, it makes no sense to overpay for gen-ed credits.

University programs need to be judged on their ability to get students internships and hired after graduating. If there isn't a line of employers trying to recruit graduates, the program sucks.

Its easier then ever to make a high income/become rich. Look at how many teenagers are literally millionaires due to the internet/social media.


You think boomers had those opportunities



Fast forward 80 years and millennials will be the richest generation alive and whatever upstart under 30s will be whining about how hard they have it.

Look at tuition costs, healthcare costs, out of control housing costs. Everything is out of control expensive

I’ve been on indeed job searching and for a data entry type job easy as fuk they want a bachelors

All for $16 / hr


Fukin lol

i dont know of any

he sees a couple that are 0.1% of teenagers and thinks that's the norm lmao!