Economy

[Moiraine]

1 hour ago, 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.

 

 

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. 

[DevoHusker]

1 hour ago, Frott Scost said:

Anecdotal evidence

Very true, and I assume that population centers are different than the Midwest...but the article presents it as universal, when clearly it is not.

[DevoHusker]

2 minutes ago, 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. 

See previous response

[Moiraine]

2 minutes ago, DevoHusker said:

See previous response

 

 

The article doesn’t make it sound universal nor is it misleading. It is talking about stats for the overall groups. It isn’t saying it’s true for every single Millennial. 

[teachercd]

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.

[BigRedBuster]

3 hours ago, Moiraine said:

 

 

It’s 1981-1996

I’ve found that that depends on what website you read.  I’ve seen anywhere from early 80s to 2000

[BigRedBuster]

2 hours ago, Moiraine said:

 

 

The article doesn’t make it sound universal nor is it misleading. It is talking about stats for the overall groups. It isn’t saying it’s true for every single Millennial. 

When it says “an entire generation” it does. 

[BigRedBuster]

4 hours ago, 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

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. 

[Moiraine]

4 hours ago, 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.

 

 

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.

[Moiraine]

3 hours ago, BigRedBuster said:

When it says “an entire generation” it does. 

 

 

Where does it say that? 

[teachercd]

4 minutes ago, Moiraine said:

 

 

Millennials have less money than their parents did at their age.

But they aren't their age, they are like 30-45 years younger. 

[Moiraine]

Just now, teachercd said:

But they aren't their age, they are like 30-45 years younger. 

 

 

It is saying when Boomers were the age that Millennials are now, they had more $.

 

Quote

In 1989, when baby boomers were around the same age as millennials are today, they controlled 21% of the nation’s wealth. That’s almost five times as much as what millennials own today.

 

[teachercd]

1 minute ago, Moiraine said:

 

 

It is saying when Boomers were the age that Millennials are now, they had more $.

 

 

I know, I was joking.

 

 

[Moiraine]

2 hours ago, 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. 

 

 

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.

[BigRedBuster]

59 minutes ago, Moiraine said:

 

 

Where does it say that? 

Sorry, it was a poster here who said it earlier.