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    More: Obvious, Generation Y, oldest members of this generation, Middle-Aged Millennials, wealth gap, CNBC Make, older millennials, oldest millennials, student loans  
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6982 clicks; posted to Main » and Politics » on 16 Apr 2021 at 4:31 PM (3 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2021-04-16 2:20:04 PM  
"Millenials get all the breaks." -Gen Z
 
2021-04-16 3:38:36 PM  
Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.
 
2021-04-16 4:28:50 PM  
It would be interesting to see the extent to which generational wealth transfers (i.e. inheritance) have impacted this. I'm thinking of two factors in particular

- if a generation has children later, their children will inherit at a younger age. I have not done the homework to know if that was true of Boomers.

- did the parents of Boomers have more to leave their children than the parents of Millenials? A lot of things will have impacted that including the general stagnation in working class and middle class incomes, rising housing costs, and the transformation of pensions from "lifetime defined benefits" to "good luck living on Social Security and cat food once your savings run out"
 
2021-04-16 4:33:03 PM  
Get off my lawn, subby.
 
2021-04-16 4:34:51 PM  
Gen X over here being loners again.
 
2021-04-16 4:35:50 PM  
I'd like my millennial wealth please
 
2021-04-16 4:36:03 PM  
Shut up Gen X'er.
 
2021-04-16 4:36:20 PM  

SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.


* purchased in their mid-30s, when the boomers bought their houses in their early 20s.
 
2021-04-16 4:36:38 PM  
Did you know Millennials invented earning money? I think they call it an "economic hack".
 
2021-04-16 4:38:37 PM  

shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.


exactly

and after weathering two great depressions and the longest war in us history.
 
2021-04-16 4:38:53 PM  

Muta: Shut up Gen X'er.


Ok. Sure. Whatever.
 
2021-04-16 4:39:03 PM  

shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.


This. My parents were gifted a house at age 24 by their parents. My dad's first job was after he graduated college.

I've been working since I was 14 and couldn't afford a house until I was in my mid-30s, which I paid for myself.

/must be that avocado toast I had once
 
2021-04-16 4:40:47 PM  
My old man was self employed and never saved a penny, relied on social security being there.  I'm 40 next year and I have more in a retirement account than most people my age.

/ not trying to brag. I probably failed.
 
2021-04-16 4:41:12 PM  
"but they're catching up"

OK, CNBC.
 
2021-04-16 4:41:19 PM  
This keeps up and people are going to start insisting they get paid for their work and labor next, after that it'll lead this nation to economic ruin.

How can we keep up with the Chinese if we have to pay people, that'll cut into corporate profits and the whole system will collapse.
 
2021-04-16 4:41:54 PM  
This whole Us n Them nonsense and generational labels like they mean anything seem really stupid and pointless, unless having someone to blame makes you feel better.

Overpopulation was always going to catch up with us, and nobody put the brakes on in any way shape or form, mostly because our capitalist system is designed for infinite growth, while the planet sadly is not.

Blame the last generation to enjoy the fruits of a relatively balanced world if you lilke, before the sh*t hit the fan, the oceans emptied, the jobs disappeared, the planet poisoned, and the USA was still a first world country instead of a hateful bile-spewing land of "I got mine Jack" fake Christians and sociopaths.
 
2021-04-16 4:42:50 PM  
My old man was self employed and never saved a penny, relied on social security being there.  I'm 40 next year and I have more in a retirement account than most people my age, plus am invested in peer lending, a mutual fund my grandmother started when I was a baby, and some liquidity in savings.

/ not trying to brag. I probably failed.
 
2021-04-16 4:44:35 PM  

HugeMistake: did the parents of Boomers have more to leave their children than the parents of Millenials? A lot of things will have impacted that including the general stagnation in working class and middle class incomes, rising housing costs, and the transformation of pensions from "lifetime defined benefits" to "good luck living on Social Security and cat food once your savings run out"


Anecdotally, I don't think so. I lost both remaining grandparents (one from each side of the family) in 2017 and as far as I know there was no inheritance in either case as all assets got liquidated for end-of-life care.

Given that my dad's still working at 67 years old and griping about never being able to retire, I'm thinking that my parents aren't doing so good.
 
2021-04-16 4:44:55 PM  
Wealth for most whites is owning a home. Millennials have not been able to purchase homes at younger ages like older generations have. Right now the housing market is hot, so unless they bought before Covid hit, they're probably going to purchase over asking price, and be underwater like what happened in 2008 with some people.
 
2021-04-16 4:45:44 PM  
Xennial here, can I get in on that wealth?

/slowly clawing out from under student and hospital debt
 
2021-04-16 4:45:53 PM  

shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.


leeksfromchichis: shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.

exactly

and after weathering two great depressions and the longest war in us history.


Fark user imageView Full Size
 
2021-04-16 4:46:49 PM  

shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.


And purchased for $400,000 instead of $20,000.
 
2021-04-16 4:48:17 PM  
Bad news, everyone.

The doctors ran some tests, and they say I've reached the age where I'm starting to assume that any economic success I have had to this point is due to my hard work and intrinsic virtues, none of which have anything to do with random chance or privilege in my upbringing, but instead were obtained through sheer discipline and force of will. It's only a matter of time before I start blaming the financial situations of Gen Z kids on the fact that not enough of them spent time in the woods when they were young.

I'm a little younger than most people who experience this condition, so I'm pretty devastated, to be honest, but the information out there says that the symptoms can be managed, and people can still live for years and have relatively full lives despite being pricks.

We can all get through this together. Unless you're lazy.
 
2021-04-16 4:49:54 PM  
Back in my day, college cost a hundred bucks and you could buy a 3 bed/ 2 bath house in a nice neighborhood for 25k. A new mustang will cost 6 grand. If you wanted a job, you just walked into the office, shook the mangers hand and you'd start on Monday. Back then, we wore an onion on our belts because it was the style at the time
 
2021-04-16 4:50:40 PM  
davynelson:

Nice wallotext. I enjoyed it.

But in a very real way, many of us have been screwed by boomers, specific individuals who are archetypes of the label not the idea of their existence, while the media ran endless farticles about "millennials" that were both insulting misinformation and for over a decade have actually been about children decades younger while actual millennials were already parents themselves.

So yes, capitalism limited resources blah blah blah, but no. fark the boomers.
 
2021-04-16 4:50:59 PM  

Howling Fantods: shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.

And purchased for $400,000 instead of $20,000.


I funnied this, not because I disagree with the overall sentiment, but because of the $400,000 number.
 
2021-04-16 4:52:41 PM  

doomjesse: Gen X over here being loners again.


Hey, I'm Gen X and I take offense to that. Oh wait, I'm looking around my empty house and life and you are right
 
2021-04-16 4:53:34 PM  

Doctoral Candidate Zaius: Back in my day, college cost a hundred bucks and you could buy a 3 bed/ 2 bath house in a nice neighborhood for 25k. A new mustang will cost 6 grand. If you wanted a job, you just walked into the office, shook the mangers hand and you'd start on Monday. Back then, we wore an onion on our belts because it was the style at the time


Can you give me five bees for a quarter?
 
2021-04-16 4:55:23 PM  

Martian_Astronomer: Howling Fantods: shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.

And purchased for $400,000 instead of $20,000.

I funnied this, not because I disagree with the overall sentiment, but because of the $400,000 number.


Well, the median home price in 2020 was like $320k, so it's not that much of an exaggeration. :P
 
2021-04-16 4:57:08 PM  

Aar1012: Doctoral Candidate Zaius: Back in my day, college cost a hundred bucks and you could buy a 3 bed/ 2 bath house in a nice neighborhood for 25k. A new mustang will cost 6 grand. If you wanted a job, you just walked into the office, shook the mangers hand and you'd start on Monday. Back then, we wore an onion on our belts because it was the style at the time

Can you give me five bees for a quarter?


Dancing for Bees I Teen Titans Go! I Cartoon Network
Youtube a_4BSoXSoc4


Nobody just gives you bees, fool.
 
2021-04-16 4:59:12 PM  
Millenials have been underwater for the majority of their lives. Its only now, going into their late 30's/early 40's that they are only now seeing daylight. But all this time theyve had no opportunity to save. All that money is gone. Theyll have little to no retirement. Most will be stuck working until the day they die.
 
2021-04-16 4:59:35 PM  
leeksfromchichis:

But in a very real way, many of us have been screwed by boomers

Ah yes, boomers have deprived you of what you are entitled to. Bless your heart.
 
2021-04-16 5:00:25 PM  

cheap_thoughts: Wealth for most whites is owning a home. Millennials have not been able to purchase homes at younger ages like older generations have. Right now the housing market is hot, so unless they bought before Covid hit, they're probably going to purchase over asking price, and be underwater like what happened in 2008 with some people.


I tried to give our millennial a house.
His g/f said "we aren't ready".

She likes the promise ring she made him buy from Tiffany's though.
 
2021-04-16 5:00:56 PM  

Dodo David: leeksfromchichis:

But in a very real way, many of us have been screwed by boomers

Ah yes, boomers have deprived you of what you are entitled to. Bless your heart.


read the whole sentence, cap
 
2021-04-16 5:01:44 PM  

leeksfromchichis: and after weathering two great depressions and the longest war in us history.


I thought to be a Boomer you had to be born after WWII?

My brain's a little fuzzy, right now, though.  Got my first Fauci Ouchie this morning.
 
2021-04-16 5:03:11 PM  

Howling Fantods: Well, the median home price in 2020 was like $320k, so it's not that much of an exaggeration. :P


I'm not disagreeing about the median. But it's very location-dependent, and I've been following the real estate market in Eastern Massachusetts for the last couple years. $400k is very low for a tiny house in an outer-ring suburb.
 
2021-04-16 5:03:29 PM  

MusicMakeMyHeadPound: shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.

This. My parents were gifted a house at age 24 by their parents. My dad's first job was after he graduated college.

I've been working since I was 14 and couldn't afford a house until I was in my mid-30s, which I paid for myself.

/must be that avocado toast I had once


And boomers paid a fraction of their annual income for those houses compared to millennials.
 
2021-04-16 5:03:35 PM  

wesmon: doomjesse: Gen X over here being loners again.

Hey, I'm Gen X and I take offense to that. Oh wait, I'm looking around my empty house and life and you are right


Gen Xer here.  I'm the epitome of a loner.  I'll sit at a bar and read Fark during happy hour, alone.

/that sounds really pathetic
 
2021-04-16 5:03:48 PM  

K.B.O. Winston: leeksfromchichis: and after weathering two great depressions and the longest war in us history.

I thought to be a Boomer you had to be born after WWII?

My brain's a little fuzzy, right now, though.  Got my first Fauci Ouchie this morning.


See above, re: Fuzzy brain.  You're talking Millenials, not Boomers.  Sorry for the misunderstanding.

/glad I took off work today
 
2021-04-16 5:04:10 PM  

Veloram: Millenials have been underwater for the majority of their lives. Its only now, going into their late 30's/early 40's that they are only now seeing daylight. But all this time theyve had no opportunity to save. All that money is gone. Theyll have little to no retirement. Most will be stuck working until the day they die.


*Shrugs* I'm a 37 year old millennial with a lot of money in my 401K, a rollover IRA from a previous employer, and a traditional pension plan I'm already vested in... the only question is if my liver can take 25 more years in management.
 
2021-04-16 5:05:35 PM  

blatz514: wesmon: doomjesse: Gen X over here being loners again.

Hey, I'm Gen X and I take offense to that. Oh wait, I'm looking around my empty house and life and you are right

Gen Xer here.  I'm the epitome of a loner.  I'll sit at a bar and read Fark during happy hour, alone.

/that sounds really pathetic


I think a lot of farkers are introverts regardless of age...
 
2021-04-16 5:05:51 PM  

K.B.O. Winston: leeksfromchichis: and after weathering two great depressions and the longest war in us history.

I thought to be a Boomer you had to be born after WWII?

My brain's a little fuzzy, right now, though.  Got my first Fauci Ouchie this morning.


forty six was the first year, sixty four the last

I know this because my mother was born the first year of that generation and my spouse the last
They are both technically boomers as about as culturally different in experience as possible while still both being Americans
 
2021-04-16 5:06:24 PM  

HugeMistake: - did the parents of Boomers have more to leave their children than the parents of Millenials? A lot of things will have impacted that including the general stagnation in working class and middle class incomes, rising housing costs, and the transformation of pensions from "lifetime defined benefits" to "good luck living on Social Security and cat food once your savings run out"


If my really quick-and-dirty math holds up, Boomers got less which grew to be worth more in the form of housing.  They tended to start inheriting homes as the Real Estate market was shooting upwards.  Then they mortgaged it, spent all the money, and if their kids inherit anything they have to sell it immediately just to pay off the debts.
 
2021-04-16 5:07:41 PM  

electricjebus: Veloram: Millenials have been underwater for the majority of their lives. Its only now, going into their late 30's/early 40's that they are only now seeing daylight. But all this time theyve had no opportunity to save. All that money is gone. Theyll have little to no retirement. Most will be stuck working until the day they die.

*Shrugs* I'm a 37 year old millennial with a lot of money in my 401K, a rollover IRA from a previous employer, and a traditional pension plan I'm already vested in... the only question is if my liver can take 25 more years in management.


All well and good. Just know that you're the exception, not the rule.
 
2021-04-16 5:09:25 PM  

Bertuccio: MusicMakeMyHeadPound: shut_it_down: SpectroBoy: Millenials:
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
It's impossible, the boomer screwed us!
Hey, checkout out my new house.

* purchased in their mid-30s, when the boomers bought their houses in their early 20s.

This. My parents were gifted a house at age 24 by their parents. My dad's first job was after he graduated college.

I've been working since I was 14 and couldn't afford a house until I was in my mid-30s, which I paid for myself.

/must be that avocado toast I had once

And boomers paid a fraction of their annual income for those houses compared to millennials.


My boomer mother, at one point in the 70's was paying almost half her income for housing.
Her spouse left her during the "free love" years and, at that time, women in the work place were generally clerical and low wage, not to mention sexually harrassed routinely.

Part of the boomer generation were single mothers who raised "latch key kids" for a reason.
They had to go to work to pay for that "fraction" of housing costs.

We came close to being homeless that decade when her boss fired her.
"You're a divorce, I know you've been going without any, right honey?"
 
2021-04-16 5:09:28 PM  

Dodo David: leeksfromchichis:

But in a very real way, many of us have been screwed by boomers

Ah yes, boomers have deprived you of what you are entitled to. Bless your heart.


We've discovered Mitt Romney's alt.
 
2021-04-16 5:10:10 PM  

Dodo David: leeksfromchichis:

But in a very real way, many of us have been screwed by boomers

Ah yes, boomers have deprived you of what you are entitled to. Bless your heart.


Glad you get it! Get f*cked.
 
2021-04-16 5:10:58 PM  

electricjebus: Veloram: Millenials have been underwater for the majority of their lives. Its only now, going into their late 30's/early 40's that they are only now seeing daylight. But all this time theyve had no opportunity to save. All that money is gone. Theyll have little to no retirement. Most will be stuck working until the day they die.

*Shrugs* I'm a 37 year old millennial with a lot of money in my 401K, a rollover IRA from a previous employer, and a traditional pension plan I'm already vested in... the only question is if my liver can take 25 more years in management.


So you admit that you're an outlier? Okay.
 
2021-04-16 5:11:08 PM  

blatz514: wesmon: doomjesse: Gen X over here being loners again.

Hey, I'm Gen X and I take offense to that. Oh wait, I'm looking around my empty house and life and you are right

Gen Xer here.  I'm the epitome of a loner.  I'll sit at a bar and read Fark during happy hour, alone.

/that sounds really pathetic


I'm 34, married with a kid and that sounds pretty wonderful some days.
 
2021-04-16 5:11:30 PM  

austerity101: Dodo David: leeksfromchichis:

But in a very real way, many of us have been screwed by boomers

Ah yes, boomers have deprived you of what you are entitled to. Bless your heart.

Glad you get it! Get f*cked.


You still looking for work?
 
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