Why millennials are facing the scariest financial future

a reply to: smkymcnugget420

Damn, dude. Just to interject here, but NOT using that kind of language and insults is what makes this site a better place to discuss and dissect topics.

I'm not 100% certain, but I'm fairly sure I speak for the majority when I say that if you want to keep using that kind of language and insults, there's a few other mediums such as Facebook and Twitter that you can jump to and lash out on with people of similar mentality.

originally posted by: Xcalibur254
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.

How in the world did you get a student loan discharged through bankruptcy ?

If whining paid money Millenials would all be rich. Seriously, I have never seen people so willing to roll over and die because life is tough like this generation.

Life is ACTUALLY tough in other countries around the world where they don’t have clean water or food. In the U.S. Millenials think life is tough if they don’t have the latest Xbox or Play Station.

Maybe stop paying $5 bucks for your fancy coffee and grow a pair.

a reply to: Metallicus

They aren't the most whining, it is just that we all see it now because of access to the internet, but don't worry now with the net neutrality vote all that whining will be gone too.

originally posted by: Metallicus
If whining paid money Millenials would all be rich. Seriously, I have never seen people so willing to roll over and die because life is tough like this generation.

Life is ACTUALLY tough in other countries around the world where they don’t have clean water or food. In the U.S. Millenials think life is tough if they don’t have the latest Xbox or Play Station.

Maybe stop paying $5 bucks for your fancy coffee and grow a pair.

wow. i generally find you to be level-headed but i feel you're speaking based on reading articles about millennials vs. actually knowing many. i have many friends who are the working poor of the millennial generation, and a $5 coffee is about the lowest priority on their list. they're working hard enough trying to make rent and food happen at the same time. health care? forget about it.

My local McDonalds has about 7 university graduates working there, I know as one of their parents wanted me to get their son a job in the org I work for...


They have been sold a lie, a degree means sweet f#ck all now, every job role regardless of pay has people with decent degrees lined up for minimum wage jobs. All that is happening is the education system is pumping out law degree Baristas..

Unless you know a contact, the decent jobs are a "job for the boys" and you ain't in that club...

London for instance is at bursting point with people and employers are pushing salaries down and down all whilst cost of living is rising.

In 10 more years the service trade will all be automated and all bets are off as to how poor the average person could be.. We have come full circle and are heading back to the days of peasants...



RA

We were progressing until Reagan got in office and started the lies of trickle down and union busting and cutting taxes for the rich


Now were doing it again as the GOP cuts taxes for the rich again and things will get worse again.

a reply to: Metallicus

Really? The Beat Generation started an entire cultural movement around the belief that their generation had been given a "beat deal." Thus the name.

The baby boomers were so self-obsessed and narcissistic that they were dubbed the Me Generation by multiple writers.

Generation X was also all about crying, "Woe is me!"

Millennials are no different than any generation that has come before them. What has changed is that you're now playing the role of any adult in a John Hughes movie instead of the leading role.

Back on topic, there's a thousand things that are sending our nation down the crapper.

One of them is...... drum roll please....... UNIONS!

I've worked automotive quality control (3rd party), I also grew up in a Union family, with my grandfather (now deceased) being the longest serving road commission union president in the history of the united states........ I know the good they have done, as well as the damage they cause. They pioneered workers rights....... however, we have laws in place now. At this point, you have a union rep that is decided based on whoever they like more (not seniority or merit, in most cases), arguing for wages without your input, driving up costs for everything to be made (Do you really need to make $25 an hour to stand on a line and put 6 screws in holes? I don't think so). Business are put out of business due to strikes, strikes are done against small businesses simply for not using union labor...... Bottom line, they were fantastic up until the mid 90's. Since then, they have been nothing but a hindrance.

On top of this, you have all the other items mentioned in the OP. There's so many things that were listed that were both hit and miss, I didn't even know where to start...

People have a right to complain when they are doing worst than their own parents. That is documented.

The society is going DOWN economically and morally.


People bought into coddling the rich and they have control over the macro economy


When you young folks are older and don’t have a pension and can’t retire and cant get health insurance you’ll understand then

I hope we don’t come to that

originally posted by: Metallicus
If whining paid money Millenials would all be rich. Seriously, I have never seen people so willing to roll over and die because life is tough like this generation.

Life is ACTUALLY tough in other countries around the world where they don’t have clean water or food. In the U.S. Millenials think life is tough if they don’t have the latest Xbox or Play Station.

Maybe stop paying $5 bucks for your fancy coffee and grow a pair.

Lol.

Has nothing to do with baby boomers making minimum wage that was around $13, or attending college that was thousands of times cheaper than what it is today.

Millennials are just salty that they don't have a new Xbox or coffee.

How disconnected from reality are you?

The people broad brushing millennials as lazy entitled, are the same people that compare black people to monkeys.

Broad generalizations....see how that works?

a reply to: RomeByFire

as stated in the link, that right there is a stereotype that applies to only a microscopic sliver of the generation.

There were more jobs back them that paid better, cars were affordable, housing was much cheaper, you could actually get jobs paying above minimum wage WITHOUT A COLLEGE DEGREE and subsequent debt to go along with it. For some reason, Boomers forget (or refuse) to acknowledge this... because that would mean they are wrong; and if you look at the current boomers (especially those in office), narcissism is a rampant issue among the majority of them - "It's all your fault! Nothing was caused by us and the policies we voted on! Quit complaining and get a job that doesn't exist with the degree you can't afford!"

Hell, the "Face" of the Boomer generation is a household with only one working parent, because one income was enough to support the family!!!!!!!!!!!

I will say that people aren't completely wrong about the Millennial generation..... There are a lot of *younger Millennials* that are lazy entitled brats (those younger than 22, it seems) that fit the stereotype very well...... And it's also why the generation size doesn't make any sense. The two generations before hand encompassed 15 and 20 years respectively, and now the "M" gen encompasses over 30 years? I'm calling BS on whoever though that up.

Anyway, disconnected form reality is correct.

originally posted by: dothedew
a reply to: RomeByFire

as stated in the link, that right there is a stereotype that applies to only a microscopic sliver of the generation.

There were more jobs back them that paid better, cars were affordable, housing was much cheaper, you could actually get jobs paying above minimum wage WITHOUT A COLLEGE DEGREE and subsequent debt to go along with it. For some reason, Boomers forget (or refuse) to acknowledge this... because that would mean they are wrong; and if you look at the current boomers (especially those in office), narcissism is a rampant issue among the majority of them - "It's all your fault! Nothing was caused by us and the policies we voted on! Quit complaining and get a job that doesn't exist with the degree you can't afford!"

Hell, the "Face" of the Boomer generation is a household with only one working parent, because one income was enough to support the family!!!!!!!!!!!

I will say that people aren't completely wrong about the Millennial generation..... There are a lot of *younger Millennials* that are lazy entitled brats (those younger than 22, it seems) that fit the stereotype very well...... And it's also why the generation size doesn't make any sense. The two generations before hand encompassed 15 and 20 years respectively, and now the "M" gen encompasses over 30 years? I'm calling BS on whoever though that up.

Anyway, disconnected form reality is correct.

When I graduated from college I landed a job making 11$/hr (this was a few years back). I worked my ASS of in school and did very, very well.

When my mother dropped out of high school, she landed a job making 13.60$/hr (mid 60's).

Net neutrality is about to get axed, but yup - us millennials aren't pissed about that - were just salty we don't have new Xbox's and iPhones.

a reply to: RomeByFire

Not trying to be rude but 13.60 in the mid 1960's would have been excellent pay, much much more than most or even average I would say.

originally posted by: JAGStorm
a reply to: RomeByFire

Not trying to be rude but 13.60 in the mid 1960's would have been excellent pay, much much more than most or even average I would say.

I believe that’s the point he’s making.

$13.60 in the 60s is crazy starting wage for a high school drop out. Given inflation and the devaluing of the currency, $11 today is close to half of that if not less.

a reply to: Xcalibur254

I'm not saying the boomers were successful from planning.
I am arguing millennials are struggling from lack of planning.

I'm also not denying that is harder for them, either. It is.
Nor am I denying attitudes of boomers were selfish.
They were pretty money hungry, and worked hard to earn it.
Seems to be the opposite approach from millennials.
A good chunk feel like they are owed something.
Times change, you either change with them, or get left behind.

a reply to: eNumbra

I'm saying it doesn't calculate to the time, (for us old people that remember) I'm saying that Romebyfire case seems unusual and certainly not the norm. Talk to some old people and ask them what their starting wage was. Mine was $3 and hour and I thought that was great!

Average family income in the country was $6,691, 57.9 percent higher than in 1950. Average family expenditures, $5,390, had increased 41.5 percent from 1950. This amount would have pur- chased $4,366 worth of goods and ser- vices in 1950 dollars. Median family income in 1960 was $5,620. The census at the time says it was even lower.

A salary of 13.60 hr assuming you worked 40 hours would be over $28K, so $13.60 in 1960 terms would have been 4x what the average joe makes.

a reply to: JAGStorm

As a full time student in a pretty tough technology program in IT - Security I can tell you right now that I work full time and am taking 18 credit hours each semester that I really need more time off work in order to be able to study this information and lab enough to graduate.

It's very hard to get a serious degree and work full time to pay your rent what the hell else are people suppose to do but take out loans?

You take out loans or dedicate yourself to learning it's not an easy choice.

a reply to: JAGStorm

I think that was where the comparison was going. A college graduate nowadays makes (after accounting for artificial inflation) Significantly less... almost half that of a high school drop out

Well, I had to take a work phonecall and it looks like eNumbra beat me to the punch!