Current Events > Are millennials struggling because poor work ethic?

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Lil_Bit83 12/17/19 4:51:34 PM #101:	joe40001 posted... First of all, aren't most people here millennial? I don't know why people are talking about them as an external group. Secondly considering the graph, don't you think there is more of an effect than ever of older wealthy people gatekeeping the young out? Some young people are entitled, but I hardly think the previous 2 generations were paragons of perfect employees. Am I wrong? Well said. This broadbrushing is getting a bit ridiculous. Though you can't get too upset at the responses since you started the topic. --- 2DS FC tempest 1478 9807 1205 <cite>Lil_Bit83 posted [p:931720229] in Are millen... [t:78261696]...</cite> <quote>joe40001 posted... </cite> <quote>First of all, aren't most people here millennial? I don't know why people are talking about them as an external group. Secondly considering the graph, don't you think there is more of an effect than ever of older wealthy people gatekeeping the young out? </quote> <quote>Some young people are entitled, but I hardly think the previous 2 generations were paragons of perfect employees. Am I wrong?</quote> Well said. This broadbrushing is getting a bit ridiculous. Though you can't get too upset at the responses since you started the topic. </quote> ... Copied to Clipboard!
ScazarMeltex 12/17/19 8:37:09 PM #102:	Loud_Pipes posted... This is a backwards and self destructive attitude. You earn more by working hard and selling your skills and taking calculated risks. Not by waiting to get paid more before you've earned it. Ridiculous. Not too late to change this view. You can still build something for yourself. Taking on extra work or responsibilities that you aren't being compensated for is the same as working for through your lunch or break. The only people who benefit are your employers, not you. You wanna lick boots and allow yourself to be exploited, have at it. --- "If you wish to converse with me define your terms" Voltaire <cite>ScazarMeltex posted [p:931729438] in Are millen... [t:78261696]...</cite> <quote>Loud_Pipes posted... </cite> <quote>This is a backwards and self destructive attitude. You earn more by working hard and selling your skills and taking calculated risks. Not by waiting to get paid more before you've earned it. Ridiculous. Not too late to change this view. You can still build something for yourself.</quote>Taking on extra work or responsibilities that you aren't being compensated for is the same as working for through your lunch or break. The only people who benefit are your employers, not you. You wanna lick boots and allow yourself to be exploited, have at it. </quote> ... Copied to Clipboard!
HairyThotter 12/17/19 8:46:08 PM #103:	Boomers weren't competing against the rest of the world for their jobs... and they were getting paid really well compared to what everything at the time cost them. But then the price of stuff, important stuff, like healthcare, education and housing... all 3 of those being pillars of getting ahead and making something of yourself... kept going up while wages basically stayed the same. Read that again... healthcare, housing and education prices have skyrocketed, wages have not. And yet somehow, productivity keeps going up up up. And we wonder why we hear more and more about burn out these days. --- "With cheese in either hand, anything is possible" <cite>HairyThotter posted [p:931729752] in Are millen... [t:78261696]...</cite> <quote>Boomers weren't competing against the rest of the world for their jobs... and they were getting paid really well compared to what everything at the time cost them. But then the price of stuff, important stuff, like healthcare, education and housing... all 3 of those being pillars of getting ahead and making something of yourself... kept going up while wages basically stayed the same. Read that again... healthcare, housing and education prices have skyrocketed, wages have not. And yet somehow, productivity keeps going up up up. And we wonder why we hear more and more about burn out these days. </quote> ... Copied to Clipboard!
Wewillrocku 12/17/19 8:46:52 PM #104:	no --- The american prison system is a sorry mess but giving them game consoles isn't going to solve anything. Zurriah <cite>Wewillrocku posted [p:931729782] in Are millen... [t:78261696]...</cite> <quote>no </quote> ... Copied to Clipboard!
joe40001 12/17/19 11:18:44 PM #106:	MacadamianNut3 posted... What the fuck does that graph in the op have to do with the topic title It shows the extent that millennials are struggling financially. The cause of which is the topic of discussion. --- "joe is attractive and quite the brilliant poster" - Seiichi Omori https://imgur.com/TheGsZ9 <cite>joe40001 posted [p:931735576] in Are millen... [t:78261696]...</cite> <quote>MacadamianNut3 posted... </cite> <quote>What the fuck does that graph in the op have to do with the topic title</quote> It shows the extent that millennials are struggling financially. The cause of which is the topic of discussion. </quote> ... Copied to Clipboard!
joe40001 12/17/19 11:19:42 PM #107:	Lil_Bit83 posted... Well said. This broadbrushing is getting a bit ridiculous. Though you can't get too upset at the responses since you started the topic. I started the topic with hopes of thoughtful answers. Don't fault me for my hopes :P --- "joe is attractive and quite the brilliant poster" - Seiichi Omori https://imgur.com/TheGsZ9 <cite>joe40001 posted [p:931735618] in Are millen... [t:78261696]...</cite> <quote>Lil_Bit83 posted... </cite> <quote>Well said. This broadbrushing is getting a bit ridiculous. Though you can't get too upset at the responses since you started the topic.</quote> I started the topic with hopes of thoughtful answers. Don't fault me for my hopes :P </quote> ... Copied to Clipboard!
Wewillrocku 12/17/19 11:20:35 PM #108:	joe40001 posted... It shows the extent that millennials are struggling financially. The cause of which is the topic of discussion. the effects are more interesting than the causes --- The american prison system is a sorry mess but giving them game consoles isn't going to solve anything. Zurriah <cite>Wewillrocku posted [p:931735657] in Are millen... [t:78261696]...</cite> <quote>joe40001 posted... </cite> <quote>It shows the extent that millennials are struggling financially. The cause of which is the topic of discussion.</quote>the effects are more interesting than the causes </quote> ... Copied to Clipboard!
joe40001 12/17/19 11:25:46 PM #109:	Wewillrocku posted... the effects are more interesting than the causes Ok. I don't see how that goes against what I said though --- "joe is attractive and quite the brilliant poster" - Seiichi Omori https://imgur.com/TheGsZ9 <cite>joe40001 posted [p:931735845] in Are millen... [t:78261696]...</cite> <quote>Wewillrocku posted... </cite> <quote>the effects are more interesting than the causes</quote>Ok. I don't see how that goes against what I said though </quote> ... Copied to Clipboard!
Jiek_Fafn 12/17/19 11:45:44 PM #110:	I think that one of the contributing issues is that boomers were creating equity at a much younger age. Later generations were creating debt at that same age. If a boomer is socking away $100 a month from age 18 then they're going to drastically outpace millennials who were largely incurring more and more debt until well after college. --- PSN: Jiek <cite>Jiek_Fafn posted [p:931736598] in Are millen... [t:78261696]...</cite> <quote>I think that one of the contributing issues is that boomers were creating equity at a much younger age. Later generations were creating debt at that same age. If a boomer is socking away $100 a month from age 18 then they're going to drastically outpace millennials who were largely incurring more and more debt until well after college. </quote> ... Copied to Clipboard!
Sackgurl 12/18/19 9:21:02 AM #111:	Jiek_Fafn posted... I think that one of the contributing issues is that boomers were creating equity at a much younger age. Later generations were creating debt at that same age. If a boomer is socking away $100 a month from age 18 then they're going to drastically outpace millennials who were largely incurring more and more debt until well after college. you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and instead wound up in massive debt. they were not creating NEW debt, they had OLD debt they are paying off, which is much closer to 'socking $100' away than anything boomers were ever doing. they then entered the workforce just as the bottom fell out of the US economy and their negotiating power hit an all time low. they were employees working jobs for employers who deliberately underpaid them and even as the economy improved, their employers knew that changing jobs was so stressful they often wouldn't. these employers, still burdened by expensive boomer pension plans not at all available to their millennial employees (in place: 401k matching that was trimmed to the bone in 2008 and is only now starting to limp back), opted instead to only reward new hires, while attempting to shame those who realized what was happening and learned to jump ship regularly and play the same game. source https://tinyurl.com/vwyzh2h millenials following their parents' advice were buying homes in a hyperinflated market that crashed soon after they bought. some were lucky enough to not be ready until after 2008, but remember that the cohort starts in 1981. --- LittleBigPlanet is like merging dress-up with a real game. <cite>Sackgurl posted [p:931748162] in Are millen... [t:78261696]...</cite> <quote>Jiek_Fafn posted... </cite> <quote>I think that one of the contributing issues is that boomers were creating equity at a much younger age. Later generations were creating debt at that same age. If a boomer is socking away $100 a month from age 18 then they're going to drastically outpace millennials who were largely incurring more and more debt until well after college.</quote> you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and instead wound up in massive debt. they were not creating NEW debt, they had OLD debt they are paying off, which is much closer to 'socking $100' away than anything boomers were ever doing. they then entered the workforce just as the bottom fell out of the US economy and their negotiating power hit an all time low. they were employees working jobs for employers who deliberately underpaid them and even as the economy improved, their employers knew that changing jobs was so stressful they often wouldn't. these employers, still burdened by expensive boomer pension plans not at all available to their millennial employees (in place: 401k matching that was trimmed to the bone in 2008 and is only now starting to limp back), opted instead to only reward new hires, while attempting to shame those who realized what was happening and learned to jump ship regularly and play the same game. source https://tinyurl.com/vwyzh2h millenials following their parents' advice were buying homes in a hyperinflated market that crashed soon after they bought. some were lucky enough to not be ready until after 2008, but remember that the cohort starts in 1981. </quote> ... 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joe40001 12/18/19 9:43:07 AM #113:	Sackgurl posted... you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and instead wound up in massive debt. they were not creating NEW debt, they had OLD debt they are paying off, which is much closer to 'socking $100' away than anything boomers were ever doing. they then entered the workforce just as the bottom fell out of the US economy and their negotiating power hit an all time low. they were employees working jobs for employers who deliberately underpaid them and even as the economy improved, their employers knew that changing jobs was so stressful they often wouldn't. these employers, still burdened by expensive boomer pension plans not at all available to their millennial employees (in place: 401k matching that was trimmed to the bone in 2008 and is only now starting to limp back), opted instead to only reward new hires, while attempting to shame those who realized what was happening and learned to jump ship regularly and play the same game. source https://tinyurl.com/vwyzh2h millenials following their parents' advice were buying homes in a hyperinflated market that crashed soon after they bought. some were lucky enough to not be ready until after 2008, but remember that the cohort starts in 1981. Idk, that makes a lot of sense. But it doesn't let baby boomers call millennials lazy, so it must be false. --- "joe is attractive and quite the brilliant poster" - Seiichi Omori https://imgur.com/TheGsZ9 <cite>joe40001 posted [p:931748752] in Are millen... [t:78261696]...</cite> <quote>Sackgurl posted... </cite> <quote>you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and instead wound up in massive debt. they were not creating NEW debt, they had OLD debt they are paying off, which is much closer to 'socking $100' away than anything boomers were ever doing. they then entered the workforce just as the bottom fell out of the US economy and their negotiating power hit an all time low. they were employees working jobs for employers who deliberately underpaid them and even as the economy improved, their employers knew that changing jobs was so stressful they often wouldn't. these employers, still burdened by expensive boomer pension plans not at all available to their millennial employees (in place: 401k matching that was trimmed to the bone in 2008 and is only now starting to limp back), opted instead to only reward new hires, while attempting to shame those who realized what was happening and learned to jump ship regularly and play the same game. source https://tinyurl.com/vwyzh2h millenials following their parents' advice were buying homes in a hyperinflated market that crashed soon after they bought. some were lucky enough to not be ready until after 2008, but remember that the cohort starts in 1981.</quote> Idk, that makes a lot of sense. But it doesn't let baby boomers call millennials lazy, so it must be false. </quote> ... Copied to Clipboard!
Lil_Bit83 12/18/19 9:59:26 AM #114:	joe40001 posted... I started the topic with hopes of thoughtful answers. Don't fault me for my hopes :P Sorry but the worded it sounds like you were trying to shit-stir. --- 2DS FC tempest 1478 9807 1205 <cite>Lil_Bit83 posted [p:931749261] in Are millen... [t:78261696]...</cite> <quote>joe40001 posted... </cite> <quote>I started the topic with hopes of thoughtful answers. Don't fault me for my hopes :P</quote> Sorry but the worded it sounds like you were trying to shit-stir. </quote> ... Copied to Clipboard!
joe40001 12/18/19 10:16:47 AM #115:	Lil_Bit83 posted... Sorry but the way you worded it, sounds like you were trying to shit-stir. The reason lots of people regardless of age are struggling financially, is rising prices, taxes, and many other factors. There are people busting their asses and struggling just to keep their head above water. The current generation is going to possibly take more time trying to get and stay on their feet. That's why a lot of em live with family and roommates. Its easier to share living expenses when everything keeps rising. It has always been that way because things rise and fall in cycles. But lets keep mocking people for their struggles. Who is mocking people for their struggles? --- "joe is attractive and quite the brilliant poster" - Seiichi Omori https://imgur.com/TheGsZ9 <cite>joe40001 posted [p:931749880] in Are millen... [t:78261696]...</cite> <quote>Lil_Bit83 posted... </cite> <quote>Sorry but the way you worded it, sounds like you were trying to shit-stir. The reason lots of people regardless of age are struggling financially, is rising prices, taxes, and many other factors. There are people busting their asses and struggling just to keep their head above water. The current generation is going to possibly take more time trying to get and stay on their feet. That's why a lot of em live with family and roommates. Its easier to share living expenses when everything keeps rising. It has always been that way because things rise and fall in cycles. But lets keep mocking people for their struggles.</quote> Who is mocking people for their struggles? </quote> ... Copied to Clipboard!
MacadamianNut3 12/18/19 2:42:34 PM #116:	Obviously you, shitposter, by ignoring things that have been discussed to death about the lack of millennial wealth and asking if it's because of laziness --- Roll Tide & Go Irish <cite>MacadamianNut3 posted [p:931759972] in Are millen... [t:78261696]...</cite> <quote>Obviously you, shitposter, by ignoring things that have been discussed to death about the lack of millennial wealth and asking if it's because of laziness </quote> ... Copied to Clipboard!
joe40001 12/18/19 3:03:40 PM #117:	MacadamianNut3 posted... Obviously you, shitposter, by ignoring things that have been discussed to death about the lack of millennial wealth and asking if it's because of laziness First, please don't call me names. Secondly, I clearly don't think it's because of laziness, it is what many people suggest though.That's why the question was asked in the TT. I never mocked anybody's struggle. --- "joe is attractive and quite the brilliant poster" - Seiichi Omori https://imgur.com/TheGsZ9 <cite>joe40001 posted [p:931760889] in Are millen... [t:78261696]...</cite> <quote>MacadamianNut3 posted... </cite> <quote>Obviously you, shitposter, by ignoring things that have been discussed to death about the lack of millennial wealth and asking if it's because of laziness</quote>First, please don't call me names. Secondly, I clearly don't think it's because of laziness, it is what many people suggest though.That's why the question was asked in the TT. I never mocked anybody's struggle. </quote> ... Copied to Clipboard!
Jiek_Fafn 12/18/19 6:41:48 PM #119:	Sackgurl posted... you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and instead wound up in massive debt. they were not creating NEW debt, they had OLD debt they are paying off, which is much closer to 'socking $100' away than anything boomers were ever doing. they then entered the workforce just as the bottom fell out of the US economy and their negotiating power hit an all time low. they were employees working jobs for employers who deliberately underpaid them and even as the economy improved, their employers knew that changing jobs was so stressful they often wouldn't. these employers, still burdened by expensive boomer pension plans not at all available to their millennial employees (in place: 401k matching that was trimmed to the bone in 2008 and is only now starting to limp back), opted instead to only reward new hires, while attempting to shame those who realized what was happening and learned to jump ship regularly and play the same game. source https://tinyurl.com/vwyzh2h millenials following their parents' advice were buying homes in a hyperinflated market that crashed soon after they bought. some were lucky enough to not be ready until after 2008, but remember that the cohort starts in Sackgurl posted... you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and ins <cite>Jiek_Fafn posted [p:931769404] in Are millen... [t:78261696]...</cite> <quote>Sackgurl posted... </cite> <quote>you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and instead wound up in massive debt. they were not creating NEW debt, they had OLD debt they are paying off, which is much closer to 'socking $100' away than anything boomers were ever doing. they then entered the workforce just as the bottom fell out of the US economy and their negotiating power hit an all time low. they were employees working jobs for employers who deliberately underpaid them and even as the economy improved, their employers knew that changing jobs was so stressful they often wouldn't. these employers, still burdened by expensive boomer pension plans not at all available to their millennial employees (in place: 401k matching that was trimmed to the bone in 2008 and is only now starting to limp back), opted instead to only reward new hires, while attempting to shame those who realized what was happening and learned to jump ship regularly and play the same game. source https://tinyurl.com/vwyzh2h millenials following their parents' advice were buying homes in a hyperinflated market that crashed soon after they bought. some were lucky enough to not be ready until after 2008, but remember that the cohort starts in</quote>Sackgurl posted... </cite> <quote>you made this up boomers were not 'socking away' 100 a month at 18. they were in fact not 'socking away' much at all, ever. they are currently in a severe 'retirement crisis' for having not saved nearly enough. 45% have no retirement savings and the median savings among those who do is around 100-150k. source https://www.investopedia.com/articles/personal-finance/032216/are-we-baby-boomer-retirement-crisis.asp they were in college, earning a distribution of degrees that was heavier on liberal arts than millenials' are studying today for about $4000 (total, room and board combined cost, in today's money) source https://www.npr.org/sections/money/2014/05/09/310114739/whats-your-major-four-decades-of-college-degrees-in-1-graph https://cei.org/blog/mind-boggling-increase-tuition-1960-even-students-learn-less-and-less at 21 they left college and started jobs that rewarded them for their degrees, in an economy that drastically favored americans. they purchased homes straight away that cost about half what they do now, in real dollars (most of the price change from this period was inflation) and made tiny/near-zero down payments. source https://www.multpl.com/case-shiller-home-price-index-inflation-adjusted they saved nothing because their employers promised them real pensions and their employers saved for them. they spent 30 years at those same employers, generally having been rewarded quite a lot early on, and not noticing their pay flattening as they aged. they retired as such a massive burden on those employers that many are still struggling today to stay afloat because the pension burden of their boomers is so great. https://www.cfo.com/retirement-plans/2019/12/for-many-cfos-pension-plans-are-millstones-around-the-neck/ they taught their children three things that are total bullshit: 1) just go to college, you don't need a plan. just go. 2) be loyal to your employer! loyalty is rewarded! 3) buy a home, it's the best way to build wealth! millennials who grew up and generally trusted their parents followed this advice and ins</quote> ... 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Jiek_Fafn 12/18/19 6:44:49 PM #120:	Oops at the double quote. I'm on my phone and it's a pain in the ass to fix. Sorry --- PSN: Jiek <cite>Jiek_Fafn posted [p:931769520] in Are millen... [t:78261696]...</cite> <quote>Oops at the double quote. I'm on my phone and it's a pain in the ass to fix. Sorry </quote> ... Copied to Clipboard!
Sackgurl 12/19/19 11:21:19 AM #121:	paying off debt is not fundamentally different from investing in terms of advancing your long-term financial position, aside from the fact that time works against you with debt payments and for you with equity but the point is, millenials are "socking away" quite a lot more than other cohorts. they just are doing it to fight an uphill battle that they were stuck with from the very start. the reason they're doing worse is the impact of that start on both their short term position and ability of their saving to help them in the future--systematic problems that have nothing to do with work ethic or willingness to part with luxuries in order to have a better future --- LittleBigPlanet is like merging dress-up with a real game. <cite>Sackgurl posted [p:931798219] in Are millen... [t:78261696]...</cite> <quote>paying off debt is not fundamentally different from investing in terms of advancing your long-term financial position, aside from the fact that time works against you with debt payments and for you with equity but the point is, millenials are "socking away" quite a lot more than other cohorts. they just are doing it to fight an uphill battle that they were stuck with from the very start. the reason they're doing worse is the impact of that start on both their short term position and ability of their saving to help them in the future--systematic problems that have nothing to do with work ethic or willingness to part with luxuries in order to have a better future </quote> ... Copied to Clipboard!
Jiek_Fafn 12/19/19 1:47:23 PM #122:	Sackgurl posted... paying off debt is not fundamentally different from investing in terms of advancing your long-term financial position, aside from the fact that time works against you with debt payments and for you with equity but the point is, millenials are "socking away" quite a lot more than other cohorts. they just are doing it to fight an uphill battle that they were stuck with from the very start. the reason they're doing worse is the impact of that start on both their short term position and ability of their saving to help them in the future--systematic problems that have nothing to do with work ethic or willingness to part with luxuries in order to have a better future No. That's not how that phrase is used. Phrasal Verbs: sock away Informal. To put (money) away in a safe place for future use. You went into why that's the case better than I can. --- PSN: Jiek <cite>Jiek_Fafn posted [p:931803710] in Are millen... [t:78261696]...</cite> <quote>Sackgurl posted... </cite> <quote>paying off debt is not fundamentally different from investing in terms of advancing your long-term financial position, aside from the fact that time works against you with debt payments and for you with equity but the point is, millenials are "socking away" quite a lot more than other cohorts. they just are doing it to fight an uphill battle that they were stuck with from the very start. the reason they're doing worse is the impact of that start on both their short term position and ability of their saving to help them in the future--systematic problems that have nothing to do with work ethic or willingness to part with luxuries in order to have a better future</quote> No. That's not how that phrase is used. Phrasal Verbs: sock away Informal. To put (money) away in a safe place for future use. You went into why that's the case better than I can. </quote> ... Copied to Clipboard!
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Current Events > Are millennials struggling because poor work ethic? (+) Yeah! (+)

Current Events > Are millennials struggling because poor work ethic?