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Millennials only hold 3% of total US wealth, and that's a shockingly small sliver of what baby boomers had at their age
- Thread starter Septimus Prime
- Start date
Didn't we have this thread?
Didn't we already go over this and determine it's clickbait because millennials have yet to inherit the assets of their boomer parents?
Well I've already lost one Boomer parent and they are/were equally broke so I'm fucked. It really is a challenge even to get by in my life. Surviving in America is a privilege.
Not much we can do at this point. I opened a tax free savings account last year and have started trading stocks as an effort to get rich later down the road hopefully.
Open a IRA/Roth IRA, if you have a 401k at work max to what your employer matches.
Ahh yes waiting for the lucky few that have parents who have money to pass on.
My parents have an avocado tree so I might as well be the bourgeois of the avocado economy.
I feel like most of us don't have the options for retirement..so we just wait for inheritance. It fucking sucks but it's just how it is. Our parents stole everything for themselves and fucked us over and call us lazy and whiny while they continue to horde and horde like racist fat dragons
We can catch up faster by getting rid of the boomers :D the french had the right idea with their guillotines.
We just need to hold out until they die off and leave us their inheritance.
I wonder if one reason for the 3% is because people are living longer too?
I lucked out, thank god. Parents are even harder working than I am and appreciate the room and board I'm paying them in return for staying the fuck out of my business. Of course, we've also always been lower-middle income and had to make sacrifices in order to have a decent standard of living. So they actually understand what it's like to be in the poorhouse. (Fact, they actually needed help from their own parents to pay for their first mortgage. The four grandparents covered it wholesale. This was just 10 years ago, BTW, not when my parents were still practically kids. Long story.)
yeah good luck with that when they live to be 90 and suck up all of the wealth they've accumulated so they can live that long.
I mean in the lack of any proper estate tax that's not exactly reassuring caveats to a report of damning income inequality
millienals will die faster than previous generations. Mostly due to lack of cash, but also because of how they've completely trashed healthcare.
Half of the boomers have no retirement savings and are living off social security. Millennials are going to be spending their retirement years trying to warm their hands on a trash can fire if that runs out.
I did when I was in school, graduated in 16. Just didn't buy everything I wanted which is a problem I see with a lot of people my age. Again I finished school later than most but I didn't rack up student loans so that helped.
Wait, is it? It states when boomers were roughly the same age range to compare.
boomers have already seen this from their silent gen parents. All of my grandparents are dead and they barely got anything because my grandpas died younger and then both my grandmas made it to over 85 and you spend astronomical amounts of money making that happen.
sorry I meant to edit that but it works I guess
I wonder if part of it is due to them coming from the generation that rose out of the Great Depression...
Good thing I live in Florida then.
Oh wait. My air-conditioner is busted right now and all I can do is suffer.
Have you considered that others also don't buy everything they want and still can't afford to save?
Yes millennials are poor because they have no ability to control their purchasing impulses.
"inherit the assets of their boomer parents" what would those be? If I'm lucky I'll get a house in suburban Boise Idaho and a few cars(though one of them is a nearly fully restored 1965 Ford Galaxie 500 XL, so not all is bad)
too bad your degree didn't instill in you the concept of anecdotal evidence versus empirical evidence
My grandparents on my dads side have a house, I think the bank owns it and they get to live in it? or something like that, so nothing from them. my two other grandparents are some of the most poor people I know. If it wasn't for family help they'd be just living off of the gov help.
my dad is actually doing great for himself (if you don't count the debt) so I guess I might see something there in 30 years?
but Id trade all that money away if you could guarantee me he has at least 30 years left. the man is getting fat!!
Did previous generations have these basic savings lessons and they just disappeared?
I'm hoping you're not an econ major because these are macro economic forces at play, not you saving a few bucks here and there
OP
OP
Sure. And in the Boomer corner, we have Bezos, Gates, Buffet, Bloomberg, Koch, Soros, etc.
