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re: How will young people ever get ahead?
Posted on 5/3/23 at 11:34 am to DeafJam73
Posted on 5/3/23 at 11:34 am to DeafJam73
Yea yea, we know. Ya'll have it harder than anyone that came before you. You damn sure whine and bitch loud enough but what you will never get is that nobody cares. You are all pathetic and laughable.
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Posted on 5/3/23 at 11:35 am to 777Tiger
quote:
yep, I just google what it takes to be in the top 5% income bracket, I guess I'm supposed to be wealthy but I think I'm as middle class as it gets
This is why there is such a difference between median wealth and average wealth.
Posted on 5/3/23 at 11:35 am to LSUFanHouston
quote:
When it comes to fiscal policy, the only difference between the Dems and the vast majority of the GOP, including their voting base... is to whom they want to give government money away to.
Completely agree. Both sides spend money like a drunken sailor, it just goes to different overlords.
Posted on 5/3/23 at 11:36 am to TDTOM
quote:
Is this the thread where millennials will come make excuses and play the victim card?
Nah it’s the one where boomers pretend wages have kept up with the prices of homes, vehicles, education, rent, etc.
Of course there are paths to success, but pretending everything is the same is pretty dumb.
This post was edited on 5/3/23 at 11:37 am
Posted on 5/3/23 at 11:36 am to Odysseus32
quote:
I'm not saying a lot of people are dumb.
Average reading level for the average American is 7th - 8th grade. 2/3rd of kids who aren't proficient by 4th grade end up on welfare.
People generally educate themselves to the degree required to survive, not thrive. Evidently its pretty damn easy to survive. Education has become less important to the bottom half of the population.
Most who post here don't realize they've got shitty competition in life. Virtually non existent at entry levels. Current anti meritocracy policies may change the importance of that, however.
Posted on 5/3/23 at 11:39 am to LSUFanHouston
quote:
This is why there is such a difference between median wealth and average wealth.
right, and there's a lot more to it than just income, accumulated wealth for instance, for example look at your typical pro athlete, for a few brief years they make what appears to us peons as astronomical income but most of them blow through it by the end of their earning days and leave their careers broke and then resume their socioeconomic status at or below where they started
Posted on 5/3/23 at 11:39 am to PrecedentedTimes
quote:
This has been the case in places like California for over a generation now. But if their dumb policies cause enough people to leave and property values to tank then a shitload of people are gonna be in a world of hurt.
Correct, but moving forward that dynamic will apply to any top 20-25 city where the bulk of high income opportunities exist.
For example, in Nashville, Charlotte, etc, it’s a huge issue for local first time homebuyers are unwilling to spend more than 25-30% of gross income on their monthly payment (which is in line with historical rules of thumb), but transplants from NY, SF, Boston etc are used to spending 40-50% on rent and have gotten comfortable with that allotment. Those transplants drive up housing costs without even giving it much thought and without even necessarily having higher incomes. They’re just more comfortable spending more.
Posted on 5/3/23 at 11:41 am to DeathValley85
quote:
Nah it’s the one where boomers pretend wages have kept up with the prices of homes, vehicles, education, rent, etc.
It's easy brah, just work your 40's hours a week selling VCR's and TV's, come home to your non working wife and 3 kids in your $30,000 house and new car. It's easy, young people are just lazy.
Posted on 5/3/23 at 11:51 am to dcrews
The average boomer walked off the high school graduation stage and walked across the street to the factory and gave the boss man a firm handshake and asked for a job. After putting 40 good years in he’s now the ceo
The average millenial has a phd and Starbucks keeps telling him he’s unqualified
The average millenial has a phd and Starbucks keeps telling him he’s unqualified
Posted on 5/3/23 at 11:54 am to el Gaucho
quote:
The average millenial has a phd and Starbucks keeps telling him he’s unqualified
That's because the PhD is in 17th century Lesbian Studies!
Posted on 5/3/23 at 11:54 am to el Gaucho
quote:
The average boomer walked off the high school graduation stage and walked across the street to the factory and gave the boss man a firm handshake and asked for a job. After putting 40 good years in he’s now the ceo
Don’t forget about their not fat wives and thrice weekly bowling outings with the boys.
Posted on 5/3/23 at 11:57 am to BonesMalone
this is the product of late stage capitalism.
Posted on 5/3/23 at 11:58 am to JohnnyKilroy
quote:
Don’t forget about their not fat wives and thrice weekly bowling outings with the boys.
And 15k 3 story house
Posted on 5/3/23 at 12:02 pm to Byron Bojangles III
quote:
this is the product of late stage capitalism.
It's mostly the byproduct of keeping interest rates artificially low for 15 years and run away government spending
Posted on 5/3/23 at 12:05 pm to Korkstand
quote:
The same way everyone did…by working their way up. My first job out of college was $30k back in 1996. A kid bagging groceries at Publix makes $15/hr now. Do the math.I see that several others have done the math for you. You went to college?
Had to bail out for a while to work.
So 15/hr at full time for a year is $31,000. Did you go to college?
That’s the same money that I made out of college with a degree working for a financial company.
THE POINT IS that a kid bagging groceries full time today can make what a college graduate made in 1996 so yea…..wages have increased. Maybe not on pace with 2023 housing. If you were looking in 2009 people were throwing houses at you. It’s all cyclical.
It is NOT to say that a kid bagging groceries can afford a house and a new F150 or raise a family at this income level.
I do not deny that housing and other inflationary purchases are out of control. What I AM saying is that it’s not impossible to succeed or get ahead.
I did not buy a house until after a few years of marriage and dual income. I did not buy a 2,400 sq/ft house downtown. I had a 45 min commute in Charlotte from a cookie cutter house in 0.10 acre because living in the cool part of downtown wasn’t an option.
And all of this “new car” talk is laughable. I’m 50 and have never bought a new car and probably never will.
This post was edited on 5/3/23 at 12:14 pm
Posted on 5/3/23 at 12:09 pm to SquatchDawg
quote:
I’m 50 and have never bought a new car and probably never will.
I'm 45 and I've bought a few but I probably never will again.
Posted on 5/3/23 at 12:10 pm to SquatchDawg
This whole topic is dumb as frick. The determined will succeed and the lazy will fail. I’m 35 and own my own business, commercial property, my house, drive whatever car I want and take whatever trips I want. My 401k is maxed out and I have 3 million in life insurance.
Some of y’all just want to bitch and moan and act like there’s no upward mobility or opportunity anymore. I worked in DC making 33k and then worked my way up to 91k In the corporate world. Then I started my business and didn’t make shite for two years.
Inflation and housing is out of control. Guess what, no one can do shite about that individually.
Some of y’all just want to bitch and moan and act like there’s no upward mobility or opportunity anymore. I worked in DC making 33k and then worked my way up to 91k In the corporate world. Then I started my business and didn’t make shite for two years.
Inflation and housing is out of control. Guess what, no one can do shite about that individually.
Posted on 5/3/23 at 12:10 pm to Byron Bojangles III
quote:
this is the product of late stage capitalism
Bruh please. Capitalism has nothing to do with this. There is nothing "free" about our markets and they have not been free for over a century. If you think tUSA is capitalistic, you need to look around more.
Posted on 5/3/23 at 12:11 pm to armsdealer
quote:
Average pay for first job out of college TODAY is less than $30k. Your $30K is worth $60k today.
Wrong.
Average starting salary with college degree is between $50k and $60k as has been noted several times.
Geez….no wonder some of you can’t make ends meet.
Posted on 5/3/23 at 12:12 pm to UtahCajun
Our central bank is scrambling to fix something they caused along with politicians on both sides of the aisle.
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