People born in the 1980’s may never be as rich as their parents

[White Whale]

The higher costs of living, recession and high college tuitions are some of the things that make people born in the 80’s the lost generation.

https://amp.businessinsider.com/1980s-millennials-wealth-the-great-recession-2018-5

 

[all caps]

Their money is gonna have to get passed down to someone, however...

 

[MikeMcMann]

This at the end of that article is what matters.

"Because this generation has high education levels and more time to earn and save, "it is possible that the income and wealth trajectories of this generation will be steeper than those of earlier generations, allowing many families to achieve their wealth goals in the end,"

 

[Steven_Universe]

It’s hard but what can you do.

At least we have iPhones and such.

 

[Rational Poster]

It’s hard but what can you do.

At least we have iPhones and such.

And refrigerators right?

 

[MikeMcMann]

There has been a lot of BS spread saying that the Millennial Generation is the first to make less than their parents at the same ages. That they are way behind in home ownership and other major purchases.

That does not normalize for the fact they tend to stay in school 5 years longer and come our far more educated. ya the debt sucks but due to the higher education they can rise up the corporate ladder typically faster and higher than prior generations which allows them to make up the early loss of income.

 

[Rockapotomuss]

We just need to found new cities. For some reason 100 years ago we stopped building new cities and now everyone over pays to live somewhere old. Save money and build something new.

 

[Big Nasty Edison]

It’s hard but what can you do.

At least we have iPhones and such.

And all the free porn you can handle

 

[syct23]

BREAKING: people born in the 90s-00s will never be as rich as people born in the 80s...

 

[bobgeese]

My parents weren’t rich, so...

 

[bushman505]

My parents weren’t rich, so...

So you’re fucked.

Being debt free is the new status symbol these days.

 

[bobgeese]

So you’re fucked.

Being debt free is the new status symbol these days.

My life is pretty awesome. No fucks given.

 

[bushman505]

My life is pretty awesome. No fucks given.

Same. And now that my wife is bringing in a much higher professional income than before, all debts paid off I really am giving no fucks.

 

[AlexDB9]

That's why I'm going to take over...80’s style

 

[Big Nasty Edison]

I'm already richer than my mom was.

Spoiler

We were dirt poor when I was growing up

 

[Sycho Sid]

My parents are not rich.

Guess I am fucked then.

 

[bushman505]

If your parents weren’t “rich” you’re likely going to have to spend a very significant amount of your own income/savings towards the end of your parents lives to make sure they have proper care.

 

[loyalyolayal]

So true.

 

[zebby23]

I'm already richer than my mom was.

Spoiler

We were dirt poor when I was growing up

As I'm I. My parents get weird looks when they drive though my neighborhood

 

[Deleted member 509215]

I'm already richer than my mom was.

Spoiler

We were dirt poor when I was growing up

^same. Grew up dirt poor but am richer than most of my family