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Why millennials are facing the scariest financial future

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posted on Dec, 14 2017 @ 11:25 AM
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“We’ve all heard the statistics. More millennials live with their parents than with roommates.”


The writer points out millennialls have 300 percent more college debt than their parents,

that wages are stagnant, great jobs are few like in the past. Whole industries are gone

As for the future---it doesn’t look good. Most will have to work until their 75 to even think about retirement

The great union era of good jobs with a pension is over.



Salaries have stagnated and entire sectors have cratered. At the same time, the cost of every prerequisite of a secure existence—education, housing and health care—has inflated into the stratosphere. From job security to the social safety net, all the structures that insulate us from ruin are eroding. And the opportunities leading to a middle-class life—the ones that boomers lucked into—are being lifted out of our reach. Add it all up and it’s no surprise that we’re the first generation in modern history to end up poorer than our parents.


I’ve written many posts on this warning young people that they’ve been hoodwinked by a certain political persuasion and one day they’d be very very sorry they went for the okie doke


They bought into the cut taxes for the rich, trade deals that have sent our manufacturing industry to the graveyard; unions are evil, trickle down economics, the way of monetizing everything, and the fallacy that they are independent from the society—libertarian and conservative hogwash.


Its not too late folks...There can be a turn around, a way to re-build this society where people can have a future and not just be slaves of the rich and politicians who are slaves of the rich who together have ruined this society and are making it a return to serfdom.
edit on 14-12-2017 by Willtell because: (no reason given)




posted on Dec, 14 2017 @ 11:31 AM
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The phrase, ideology of “don’t care got mine” has been a pervasive part of American society for some time now and recently the results of which have become more and more apparent.

It’s not us millenials I’m really scared for, it’s the generation after them; there’s barely anything for us, so either they get a fixed nation, or a collapsed corporatist hellscape.
edit on 12/14/2017 by eNumbra because: (no reason given)



posted on Dec, 14 2017 @ 11:34 AM
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a reply to: Willtell

A good deal of them played themselves, as well.
opportunities are out there, just hard to obtain with a liberal arts degree.

Computers and technology have long been known to be the way of the future.
If they didn't make an educated choice of what profession to pursue, they are forced to lay in the bed that they made.

Blaming the gov't is not correct, in my opinion.
They are the most entitled brats in history who refuse to take responsibility for their decisions.
Always looking to pass the buck.
That is why they are having trouble succeeding. Zero personal responsibility, why me, victim culture.

Times are tough, though. No lie there.



posted on Dec, 14 2017 @ 11:37 AM
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If it makes you feel better they hate anybody over 40 anyway. Till they get there and then ??????

Friends retired last summer good savings and such. 2 Kids at home 34 and 40 living the life. House sold in 3 weeks parents packed up in a motorhome and the kids have been trying to figure out how to catch up with them since. 2 weeks here 2 weeks there keep moving.




posted on Dec, 14 2017 @ 11:38 AM
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Tell them to get off facebook.

My brainless neighbor lives in a 500k house on the ocean, clears 6 figures, and mows lawns for a living.

No better time than today to start a small biz.

Taxes will be lower now too.



posted on Dec, 14 2017 @ 11:40 AM
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a reply to: o0oTOPCATo0o

Nobody is blaming the government. This is a social con done by so--called conservatives who preach give everything to the rich and things will be okay....Its called an OLIGARCHY


I support a democracy where THE PEOPLE rule the government not a hidden oligarchy as it is now where they give ALL the resources to a few

edit on 14-12-2017 by Willtell because: (no reason given)



posted on Dec, 14 2017 @ 11:43 AM
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a reply to: Willtell


From what I am seeing being spit out of our college campuses lately, no wonder they are unable to find work and saddled with debt! African studies, Gender studies, Social Justice etc etc... Look at their entitlement attitude!!! Everyone OWES them! Meanwhile instead of hating their corrupt government, they have been taught by their Marxist Professors to Hate their country! No one forced them to take out those loans and no one other than the college the institution itself BS'd them into taking worthless courses.

Plenty of trade schools out there to learn carpentry, construction, plumbing, HVAC, electricians and the list goes on! Sucks to think "I don't want to get my hands dirty and I want a cushy job being a boss because I'm special.".


The world is brutal and instead of teaching our children how to survive, our educational system, shrinks and brain dead parents have taught them all they are special, they DESERVE better. The smart millennials WILL be successful! They will graduate with a degree that isn't worthless in the real world versus a degree that is meaningless and pointless.


But please, let's just keep promoting how they are victims of an unfair world instead of equipping them with a mental mindset of specializing in a field that will be in demand upon your graduation! Not much need in the working world for cry babies!



posted on Dec, 14 2017 @ 11:44 AM
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a reply to: Willtell

I have college aged kids and there is so much more to this. I know exactly what you are talking about and it is downright scary. Education is the only door, and it is slowing getting shut on so many people...

It is not just tuition, which has grown exponentially. Seriously though, check out Ringling college in Florida. It is a top Art school, tuition alone would 172K for four years, not including room board or supplies. Yes 172K! So with room board etc, you are looking at around 240K for four years. Most people don't have 30 year mortgages that are that much!

Back in the day, you got a college loan and it was used for tuition and maybe books. Now I see young people using this for lifestyle choices. this is adding to the debt on top of the sky high tuition. Now on top of that housing is outrageous. On top of that, jobs suitable for college students are so low that it might not be worth working, if granny and poppop haven't already taken that job to support their semi-retired medical costs.

So instead of complaining what can be done? Two things, we need to challenge the rising cost of tuition by not supporting these schools. If every kid went to community college what would happen? The problem is just like the Chicago Cubs, even though they lost for 100 years people would still pay and fill the stadiums. As long as people are paying, no problem!

If things aren't changing learn to work the system!!!
There are ways to get an education cheaply, but it isn't pretty. I know I did it debt free. You don't have to finish school in four years, you can work and go to school, work a year, go to school a few months. Take all the CLEP, Dantes and test out courses that you can. I saved thousands doing this, now it is probably even more valuable. Very few students know about this and I when I tell them they look at me like an alien. Take online classes while working and then in your last year or last two years transfer to a University. Work for a company that offers tuition assistance. Look up companies that offer the best tuition reimbursement and get your foot in the door. The job won't be pretty, you may work in the mail room or as a janitor etc. but I've seen many people get almost 100% of their education paid this way.
edit on 14-12-2017 by JAGStorm because: (no reason given)



posted on Dec, 14 2017 @ 11:44 AM
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a reply to: Willtell



unions are evil


Unions are the reason our jobs are getting shipped overseas..why deal with union extortion when you can ship it to India and not have to worry about labor laws.
edit on 12.14.2017 by Zarniwoop because: corrected reply-to


+2 more 
posted on Dec, 14 2017 @ 11:45 AM
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a reply to: o0oTOPCATo0o

Oh please. Don't act like the success of the boomers is due to good planning. They could get a well paying job in pretty much any field they wanted regardless of their degree.

And don't pretend like the boomers weren't self-obsessed and narcissistic. They were given the sobriquet of Me Generation for a reason.



posted on Dec, 14 2017 @ 11:45 AM
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a reply to: Willtell

I agree, but it's the world we all live in.
Millennials, I think, figured they could change it by cry-babying.
Instead, they should work within the system to change it.

And it does need to change.



posted on Dec, 14 2017 @ 11:45 AM
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a reply to: Willtell

Kinda...

The thing is that automation is about to make labor and kinda money irrelevant..

How do you still use money as we presently do when no one has work??

Well, relatively no one..

And this is comming tomorrow..

The second self driving cars hit , that is 40% of american jobs gone..


So I agree we get to rework society, but taxes ain’t gonna cut it.. we are gonna have to do a total overhaul..



posted on Dec, 14 2017 @ 11:46 AM
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originally posted by: smkymcnugget420
a reply to: eNumbra




unions are evil


Unions are the reason our jobs are getting shipped overseas..why deal with union extortion when you can ship it to India and not have to worry about labor laws.


Where exactly did I say this? Either quite the right person or delete your comment.

Unions protect people from corporate abuse, do some of them have too much power? Sure. But are unions evil? You couldn’t be more wrong
edit on 12/14/2017 by eNumbra because: (no reason given)


(post by smkymcnugget420 removed for a manners violation)

posted on Dec, 14 2017 @ 11:52 AM
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originally posted by: o0oTOPCATo0o
a reply to: Willtell

I agree, but it's the world we all live in.
Millennials, I think, figured they could change it by cry-babying.
Instead, they should work within the system to change it.

And it does need to change.


once you've been suckered into many thousands of debt and are working three part-time jobs to keep up with it, and other expenses, you don't have a lot of time or energy left to change the system. that's been the story from the top down for some time... sucker people into running on that treadmill so they can't do anything about the 1% walking off with all the chips.

blaming millenials is just the older generations' way of avoiding a long, hard look in the mirror to ask what they contributed to this mess, imo -- or why they don't feel the need to change a system that's still doing them fine enough.



posted on Dec, 14 2017 @ 11:57 AM
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originally posted by: smkymcnugget420
a reply to: eNumbra

Yeah that was a formatting error

i forgot to end quote... i meant to quote "unions are evil" from your original post. will fix.

actually no, its in the first line of your OP you moron. "kids are taught ... union are evil ... "

full quote cuz clearly your retarded





They bought into the cut taxes for the rich, trade deals that have sent our manufacturing industry to the graveyard; unions are evil, trickle down economics, the way of monetizing everything, and the fallacy that they are independent from the society—libertarian and conservative hogwash.


emphasis added for the handicapped
I’m not the OP, so:

Drop your attitude.
Quit with the insults.



posted on Dec, 14 2017 @ 12:01 PM
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It will be OK. First, parents, you have got to take some responsibility, you guys coddled these pups to no end. I'm a 55 year old female who was having way too much fun traveling, working in tech in the late 80s (development and release of the first color Mac, heck yeah) but watch my friends get married and have kids. I can proudly say my niece and nephew were doing their own laundry at 5 and 7. My niece was a hoot at 8, in charge and capable! My brother and his wife did good and there are many others.

Most of us had difficult challenges growing up, life is *#%&ing rough and downright #ty sometimes. And all sunshine makes shadows...HELLO. In the end, we have to let them live their lives, finally...cut the apron strings and let them roll up their sleeves...if they know what that means.

And for the record, my $35,000 student loan (plus 35G in interest) was discharged through bankruptcy (though over the years I did pay $35,000). The DOJ is well aware of the problem and it will be resolved.



posted on Dec, 14 2017 @ 12:02 PM
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a reply to: seeker1963

To be fair young people are being forced to deal with stuff previous generations didn't.

"The average annual increase in college tuition from 1980-2014 grew by nearly 260% compared to the nearly 120% increase in all consumer items" So right there shows you, if these same kids were born 30 years previous they would have a better leg up on getting an education.

Not everyone wants to get into a trade school. I don't think schools have offered this as a viable route for kids until recently and I do think it's a good thing, but just like some kids shouldn't be accountants, some shouldn't be plumbers either. Speaking of which, I recently had a plumber that didn't know Sh*t, (pardon the pun). He was a young guy that didn't know anything, and I ask the company to send someone else.

I do agree that this generation will separate the wheat from the chaff in a more quick manner than probably any other generation!



posted on Dec, 14 2017 @ 12:04 PM
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@seeker1963

This is fantastic. Clearly written by someone who does not work any of those jobs. You're claiming people should just suck it up and work menial labor and be happy with the pittance they can make at that. A+ solid Republican mindset there. I'd love to hear more about how you think we should return to the halcyon days of byzantine feudalism.
edit on 50pm17fpmThu, 14 Dec 2017 12:05:47 -0600America/ChicagoThu, 14 Dec 2017 12:05:47 -0600 by Wayfarer because: quote error



posted on Dec, 14 2017 @ 12:06 PM
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a reply to: BlissSeeker


And for the record, my $35,000 student loan (plus 35G in interest) was discharged through bankruptcy (though over the years I did pay $35,000). The DOJ is well aware of the problem and it will be resolved.


How nice for you. Kids today would love to only have $35K in student loans. Or at least the ability to have them forgiven through bankruptcy.



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