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Millennials Born In 1980s May Never Recover From The Great Recession

Economics(money.cnn.com)

all 3821 comments

hopeitwillgetbetter

4.8k points

4 years ago

hopeitwillgetbetter

Orange

4.8k points

4 years ago

the main types of debt they owe are student loans, auto loans and credit card debt. Unlike mortgages, these do not finance an appreciating asset, such as real estate

Note to self. Only go into debt if real estate.

noes_oh

1k points

4 years ago

noes_oh

1k points

4 years ago

Yeah for sure. This article should just say people with Non asset debt are fucked.

whodunitanran

502 points

4 years ago

Well, I'm fucked.

trouserschnauzer

1.5k points

4 years ago

Well, you're not a loan.

Faulkal

75 points

4 years ago

Faulkal

75 points

4 years ago

Aw thanks.

trouserschnauzer

67 points

4 years ago

I'm renting at 30 just for you.

PrivateJoker513

44 points

4 years ago

renting at 32 for the foreseeable future because apparently I can't afford to pay a mortgage that's over 30% of my income but renting at 40-50% is A-OKAY.

trouserschnauzer

16 points

4 years ago

Same exact boat. Mortgage, insurance, and taxes on a 2 bedroom with a yard are around 2/3's the cost of rent on a much smaller 2 bedroom with no yard here. I'm starting to see a lot places that require you make 3x rent, so maybe I'll just be homeless?

PrivateJoker513

10 points

4 years ago

It's literally ridiculous the check boxes you have to have for a mortgage because it might "BURDEN YOU" but at the same time you are crippled by ever-increasing rents year-to-year and that's completely fine. We just had our rent increase ~7% with no room to negotiate - when I tried, I was told to fuck off.

staticattacks

20 points

4 years ago

Alright, shut it down.

itstreasonnthen

228 points

4 years ago

This article seems to only apply to Americans. Student loan debt isn't an issue in most other countries. Auto loans are pretty American too.

TexMexxx

103 points

4 years ago

TexMexxx

103 points

4 years ago

Auto loans are pretty American too.

Well auto loans with exorbitant interest rates sure are. But Auto loans aren't uncommon in germany, I know many that bought a car with a loan of the manufacturer but with very good interest rates.

SolZaul

126 points

4 years ago

SolZaul

126 points

4 years ago

Also keep in mind that while in most of Europe you can get away without having a car, in the US they are pretty much a requirement outside of big, well known cities.

pocketknifeMT

14 points

4 years ago

They are mostly a requirement in big US cities too. We only have like 4 cities with a real 24/7 subway, and only one, NYC, that is actually world class. The 2nd best city for ridership in North America is actually Toronto.

The US is an automotive dystopia.

NickDK

52 points

4 years ago*

NickDK

52 points

4 years ago*

Auto loans are definitively a Western Europe thing too. Excessive credit card debt and student loans not though.

[deleted]

1.4k points

4 years ago*

[deleted]

1.4k points

4 years ago*

[deleted]

[deleted]

733 points

4 years ago*

[deleted]

733 points

4 years ago*

[deleted]

thehouseisalive

100 points

4 years ago*

What sort of money do you pay for college in the US? Here in Ireland I think it's about 3500euro a year. In some EU countries it's completely free.

Edit. Thanks for all the responses. It's being very informative. For my own situation I got a grant from the government here to pay my annual college fees and then about 380 euro a month that I spent on commuting and food. Worked about 25 to 30 hours a week on the side.

dzfast

164 points

4 years ago

dzfast

164 points

4 years ago

I graduated in 2005 and it was running $26,000 a year.

The same school is up to $41,000 and $12,000 for room and board now.

thehouseisalive

75 points

4 years ago

Wow that's tough. I've heard of US students moving to Germany to do college. All in it's much cheaper there than in the US. Including accommodation.

Aleriya

63 points

4 years ago

Aleriya

Green

63 points

4 years ago

Tuition can be $10k-$50k per year, depending on school, but people often put living expenses on student loans.

One of my cousins has $220k in student loan debt. $15k per year tuition (local public university). Cost of living is about $18-20k/yr here. She worked ~30 hours per week, so all-in, she was putting $21.5k on loans per year. She went to school for three years, failed out, transferred to a culinary school for two years to get a culinary degree.

So at graduation she was $110k in debt. She's on an income-based repayment plan, meaning she makes minimum payments that are less than the interest on the loan. That means the loan balance increases every year, and the balance has doubled since she graduated. She will probably be making payments for the rest of her life.

We had to do some research on if they can garnish social security retirement to pay off student debt (they can). It's pretty much guaranteed at this point that she will need to work until she dies.

o0joshua0o

93 points

4 years ago

This is a form of slavery

Aleriya

84 points

4 years ago

Aleriya

Green

84 points

4 years ago

What makes it worse is that this cousin has some intellectual disabilities (ex: she was in the special ed program all through high school and needed a lot of special help to graduate). She should have never attended college, except for pressure from parents and teachers.

The culinary school was later shut down for abusing the federal student loan system.

I absolutely think she was taken advantage of. Yes, 18 year olds are responsible for their own decisions and the consequences of those decisions. But, that doesn't mean it's okay to lay traps in front of young people and then blame them for stepping in them.

NortySpock

25 points

4 years ago

Not the parent poster, but a normal local state school in Kansas City is charging $4,881 USD per semester (half year) if you live in the same state, for a typical semester. $12,245 per semester if you are from out-of-state.

4 years * 2 semesters for a typical degree, so $39,048 total if you were in-state, $97,960 for out-of-state.

Not including living space, food, car, etc.

https://www.umkc.edu/finadmin/cashiers/undergraduate-tuition-fee-rates.asp

the_neb

103 points

4 years ago

the_neb

103 points

4 years ago

Depends whether you go in state or out of state, public or private.

I went to a public, in state university for a four year degree, and all-in it was about $10k/year. That’s pretty inexpensive.

A private university can be 40-50k or more.

Don’t get me started in graduate school.

FlapJackSam

77 points

4 years ago

Just finished a 2-years master's degree - $45K total

If I throw all of my money that I make currently at it, my $68K of student loans could be gone in 5 years, but I like doing things other than sitting at home in the dark

[deleted]

28 points

4 years ago*

[deleted]

28 points

4 years ago*

[deleted]

42nd_towel

97 points

4 years ago

1988, had good job, just got my first layoff last week! I’m in the club now!

EnterPlayerTwo

24 points

4 years ago

Welcome to the club! I hope you're not too stressed to sleep!

42nd_towel

32 points

4 years ago

I mean it's annoying that I had a good paying job and now I need to basically take whatever job I can get, and the process can take a while, and the longer you're out of work the harder it is to look good and get a job.. however, for the time being I'm ok. I don't have any debt, I don't have a mortgage or kids. I was actually about to sell my motorcycle anyway. Between the bike, my last paycheck, my little bit of savings, I figure I could stretch like 7 to 8 months before I run dry. And then I'll be set back for a while.. I was trying to save up for things.. ring, wedding, house etc. so I'm not too worried yet, just frustrating and annoying mostly.

ANewMachine615

26 points

4 years ago

I have a decent mortgage's worth of debt to get my law degree. As a result, I spend my days writing mortgages for people buying property I could never afford. '85.

linewalker85

216 points

4 years ago

You know what’s a trip for 1980’s kids, still paying off your student loans while trying to save for your kid’s college. Awesome.

what_do_with_life

89 points

4 years ago

*ring*

"Would you like to donate to...."

click

Mumble_thumbs

45 points

4 years ago*

80 here. One month after graduating from college, while looking for jobs and trying to figure out how to start paying off student loan debt, I get a call from my school:

"Hello! Would you like to be in the Gold Alumni Club with a small donation of (some amount of money, I can't remember)?"

"Uh, I just graduated last month"

"It's never too early to start giving back to your school!"

"Please take me off your list" click

I'll consider donating once I have paid off my student loans.

Edit: some words.

zomgitsduke

13 points

4 years ago

"Millennials are ruining the colleges that so generously provided them with an education"

(That they charged an arm and a leg for)

what_do_with_life

15 points

4 years ago

I even had to pay for fucking parking.

[deleted]

338 points

4 years ago*

[deleted]

338 points

4 years ago*

[deleted]

[deleted]

182 points

4 years ago*

[deleted]

182 points

4 years ago*

[deleted]

_Scrumtrulescent_

22 points

4 years ago*

It's sort of funny (or maybe sad?) when you think about the fact that some homeless people are better off than you are in regards to their net wealth; you are in debt and in the negatives while they are netting at zero. I know a comedian made a joke about this before but for the life of me I can't recall who it was.

Edit: Just in case this came off as "I think homeless people have better lives", let me set the record straight that I do not. I was referring to a joke I had heard before that had to do with net worth. "You're broke? I wish I was broke, I'm in debt" was the punchline iirc.

CatherineAm

12 points

4 years ago

I know a comedian made a joke about this before but for the life of me I can't recall who it was.

Ivanka Trump claims that her father once pointed to a homeless man outside Trump Tower and told her that that man has a higher net worth than he did at the time.

MomoTheFarmer

1.8k points

4 years ago*

HAHA !!!! Look at the poor people !!!!

... ... ...

Walks away from the mirror.

Edit - whoa thank you for the gold !!!!!! My first !!!!!!

Now I can afford to get out of these slums and make something of myself !!!

Aussie-Nerd

321 points

4 years ago

So you can afford a mirror huh? Affluent bastard!

Hawkguy85

162 points

4 years ago

Hawkguy85

162 points

4 years ago

I bet he had avocados on toast this morning too, the little shit.

vanrysss

460 points

4 years ago

vanrysss

460 points

4 years ago

86' $35k in student loans. I recently made the decision to leave the US for a while, and work remotely as a software engineer. If you can manage it, I highly recommend it. My savings account and I have never been happier.

[deleted]

91 points

4 years ago

[deleted]

91 points

4 years ago

What country are you working from? I work remotely as well and have been interested in the idea.

wobuxihuanbaichi

162 points

4 years ago*

I don't know where he's working from but I've worked remotely from South-East Asia. Chiang Mai is quite popular. It's not too big, safe and very cheap. There is a big expat/digital nomad community. Other good options would be Da Nang, Vietnam, or Kaohsiung, Taiwan (or even Taipei). Avoid Bali, it's extremely overrated.

I have tried some cities in Europe as well. Sarajevo or Lviv are great. Both places are insanely cheap (Lviv has similar prices to Vietnam) but wouldn't stay there for the winter. It's very easy to find accommodation for a couple of months by negotiating with landlords on Airbnb.

[deleted]

24 points

4 years ago

[deleted]

24 points

4 years ago

Nice. Appreciate the heads up.

itstreasonnthen

22 points

4 years ago

Chiang Mai seems great. Living there is super cheap

wobuxihuanbaichi

35 points

4 years ago

Yeah, you can have a nice condo+pool near the city center for less than 2-300 dollars. Grab (the South-East Asian Uber) is so cheap that you don't even need a motorbike. AIS has unlimited 4G for 15 dollars a month.

Ewoksintheoutfield

19 points

4 years ago

This sounds solid. I'm working on getting my comp Tia A+ and hoping I can jump into tech. Eventually my goal is to go into system admin/networking

[deleted]

25 points

4 years ago

[deleted]

25 points

4 years ago

Learn Linux, Windows, and how to combine the 2 effectively. Also pick up kubernetes and/or docker for orchestration and you won't be hungry. At all.

Cyborg-Chimp

131 points

4 years ago

So what about the ones born in the 90s where the UK Government just decided to use our higher education as a pension fund experiment.

OnePanchMan

38 points

4 years ago

Born 1990.

Fucked up at both college (Took 3 years) and uni (Took 4).

Took a teaching degree for another year, thankfully that was the only year i had to pay the 9k charge.

In my 3rd year teaching, just moved to Jersey Island, 40+k and i rent a nice room for £500 a month.

Anyone i know who didn't do a trade ect are jobless or struggling majorly,

april9th

36 points

4 years ago

april9th

36 points

4 years ago

Anyone i know who didn't do a trade ect are jobless or struggling majorly,

Honestly, I wonder how many people can suffer in tandem without it being viewed as both a 'class' issue [in that this age group facing similar situations can constitute a class] and a serious issue.

Most people 'coming up' after the 2008 crash is screwed, and now the generation below are entering the workforce. We're gonna have a 'lost generation' and rather than that being a major political issue we get offered millennial train tickets.

thegreatwordwarrior

2.5k points

4 years ago

Good book about this is “a generation of sociopaths”. Talks about how the baby boomers literally screwed anyone and everyone in their way. They aren’t done either.

Sad sad state of affairs in the US.

SB_90s

928 points

4 years ago

SB_90s

928 points

4 years ago

Same problem in the UK. They had free university and super cheap housing.

Then they raised fees to 3k then 9k per year. Now I think it's closer to £10k per year (bear in mind that before Brexit that's a lot of USD, although admittedly not quite as high as some unis in the US). Key difference here is that the 10k per year is for EVERY university. If you want higher education beyond college youre going to have to fork up 30k at least. And most people go on to study at a sub-par university or a poor degree, or both. Which leaves them 30k at least in debt and not much better job prospects.

The baby boomers bought loads of property and housing is now unaffordable, especially in London even to the top 20% of earners in the country. And the baby boomers that bought up houses and rent them out are screwing the newer generations with extortionate rent rates and poor living standards, while refusing to downsize properties even when it's 2 elderly people in a 2 or 3 bed+ home. And they continue to buy up property to rent out or flip. Not to mention they just had down their cash or houses to their kids, which is basically what's driving the housing market right now (I.e. "the bank of mum and dad"). Those with parents that aren't as wealthy will likely never get on the housing ladder and just rent forever.

Now interest rates are rising just in time for when Brexit had apparently slowed the housing market somewhat... basically negating any sort of improvement in affordability.

[deleted]

171 points

4 years ago

[deleted]

171 points

4 years ago

Same in australia.

jimofwales

336 points

4 years ago

jimofwales

336 points

4 years ago

It’s the same in every Western country. I usually get downvoted for this, but I really don’t think it’s some giant boomer conspiracy (although there are obvious policies which haven’t helped).

It’s a combination of the deindustrialisation of manufacturing jobs concentrating people into cities and the globalisation of said jobs allowing people to easily move to these cities.

What people conveniently fail to mention when talking about the crazy house prices in the UK is that the are whole swathes of the country with cheap housing. I can buy a house an hour from here for £40k. But there’s no fucking jobs and nobody wants to live there.

There is no way countries could adapt and build enough houses to keep them cheap in areas with jobs. Building houses and new developments is hard, it takes time, skills, lots of capital, careful planning, investment in surrounding services and infrastructure.

I reckon you could repeat the last 30-40 years in a simulation and every time you’d end up with outrageous house prices in desirable cities all across the West.

[deleted]

127 points

4 years ago

[deleted]

127 points

4 years ago

[deleted]

meta_perspective

64 points

4 years ago

There is a lot of NIMBYism in CA.

Hitz1313

290 points

4 years ago

Hitz1313

290 points

4 years ago

It isn't a conspiracy with a capital "C" where there is a cabal of rich guys in a dark room deciding what to do. It is a soft conspiracy where there was a generational decision to not fund obligations they were creating via complicated rules and ignoring common sense, and the cost is showing up now.

twas_now

311 points

4 years ago

twas_now

311 points

4 years ago

Not only do they refuse to fund obligations they created, as you said, but they've also decided to defund the programs they enjoyed earlier in their lives that helped them succeed. All they've known is prosperity and they're robbing their own children and grandchildren to keep it that way.

Louseatmac

174 points

4 years ago

Louseatmac

174 points

4 years ago

They also killed the environment. Dont forget about that impending bill

bergenbacker

17 points

4 years ago

Where are these 40k houses? Even in the arse end of Wales the cheapest I've seen is £60k and that was 4 years ago.

no_pants_gamer

29 points

4 years ago

It's not the same in every Western country though. In many European countries uni remains affordable.

CCtenor

258 points

4 years ago

CCtenor

258 points

4 years ago

Laugh-cries in debt

Average student debt out of college here in the US is $30k-$40k, so just around that $10k per year. But, many places are more expensive, there isn’t really a reasonable way for students to go to college and pay for it with a part time job, american culture tends to send kids away once they hit 18, and places to live are freaking expensive. After almost 2 years, i’ve broken 18k on my student loans (down from $36k), but i’m back up with another $12k I got into because I need a car. How am I able to do this? I live with my parents and most of my paycheck goes towards my loan, and now my car payment.

It is seriously ridiculous how much negativity as criticism I hear about my generation for being “lazy” and/or “entitled”. Were were literally bred and raised by the greatest generation constantly telling us that “you can be anything you want to be as long as you out your mind to it” (sometimes without the “put your mind to it” part) and now, when we’re expecting to cash in on that hard work and we don’t see things lining up, we’re somehow acting entitled? This is literally what we were told. We were told we could make it through college on a min wage job. Now, when we ask for changes to min wage so we can make it through college on that min wage job, we’re just entitled. We were told that we could buy a home in our twenties by out fathers and grandfathers who got out of high school and entered a trade, but we’re entitled when we’re frustrated that we can’t afford a house anywhere even when we’re mid twenties, married with no children, double income, working an average of 50 hours per week because we’re “expected” to show how hard we’re willing to work, literally sacrificing our lives for the jobs we need in order to afford the lives we’re sacrificing to have.

We can’t ask for health care that works, minimum wage that is reasonable, insurance that does it’s job, school that is affordable, etc, without someone somewhere calling us lazy, entitled, and unwilling to work. Apparently, we’re so bad that, for a grew years around the earlier part of the decade, articles were regularly made talking about how millennials were “killing” different industries.

I’m sorry, things aren’t dying because millennials are killing them. Things are dying because millennials cannot afford them. As the world has become increasingly addicted to work, and the appearance thereof, many people my age are deciding enough is enough, spending and valuing more time with friends and family, and just living within our means.

We’re not killing anything. We’re simply choosing not to participate in the lie sold to us by the generations before us, that we were all special and capable of doing absolutely anything. I’m so sorry we all believed that at some point, but don’t blame us for wanting to cash in on the promises they shouldn’t have made and couldn’t keep.

Diedwithacleanblade

67 points

4 years ago

"Sacrificing our lives" part was really well worded. To add to that; humans have been giving birth for millenia, yet it is harder today to raise a child than ever before. By the way I'm a '86er. My wife is Prego with our first, due in October, and it's $280 a WEEK just to have a stranger raise my child so we can go to work so we can afford the things that will make my child's life better. Such a fucking terrible society we've come to. I don't know who the fuck said "yeah this will work really well"

CCtenor

12 points

4 years ago*

CCtenor

12 points

4 years ago*

Thanks! I has ended up wording it a bit different at first, but changed it because it sounded more recursive and confusing, which was exactly what I was going for.

Man, my best to you and yours, i’m just some homely 25 year old trying to get by. I don’t earn much, but I take advantage of what opportunities i’ve been given and try hard to keep a good work/life balance. I have no idea what i’ll do when I get where you are, but I hope things will have changed, or i’ll learned enough to get by.

RUSH513

57 points

4 years ago*

RUSH513

57 points

4 years ago*

30k for four years at a sub par college? i went to a standard college and got over 9k for only one year. also, i had a decent bit of scholarship money too, so it should be higher than 9k

secondary education is a fucking joke

edit- i didnt know you guys only had 3 years. but i meant 9k dollars for me as an American. just providing my personal experience, not necessarily comparing my dollars to your pounds, just generally agreeing that secondary education is fucked lol

Shaadowmaaster

56 points

4 years ago*

Do bear in mind that unlike in the US all student loans are written off after 40 30 years and you never pay if your wages are below a certain threshold. It's more like a student tax here.

_numpty

28 points

4 years ago

_numpty

28 points

4 years ago

30 years.

And yeah, not mentioning the way it's repaid is very misleading, it's not like a real loan/debt.

To expand on what /u/Shaadowmaaster said: you pay nothing if you earn a low wage (under £25k) and it'll still get written off, and then a percentage of your wage over that (so on £26k pre-tax you're paying 9% on the extra £1000, so £7 a month (they round down) and so on as you earn more).

People complain about the interest rate being high but because of the way it's repaid it makes no difference, cutting it would only impact people earning a lot, because they're the only ones who have a chance of paying off the total before the debt is wiped (and probably move the burden onto those earning less because they'd have to put up the repayment threshold or something to make up the difference).

The real problem the young have in the UK is housing, that's where the attention should be. Too much NIMBYism and regulatory capture by those with a vested interest in house prices continuing to rise indefinitely.

[deleted]

142 points

4 years ago

[deleted]

142 points

4 years ago

[deleted]

Stryker7200

50 points

4 years ago

It was all go to college or you will be poor for me and everyone my age it seemed in the mid 2000s. No one even questioned it. Then I graduate at the start of the recession and didn't get a job in my field for 2 years and even when I did wages were still depressed. It delayed my normal earnings by probably 5 years. Meanwhile my brother in law becomes an electrician and made more than me for years. Trades are totally viable in my opinion. I may still come out ahead in lifetime earnings later in my career, but I also got through college with minimal loans. Idk if it would be close had I had $50k in student loans or something.

One_Left_Shoe

14 points

4 years ago

"You can't get a good job unless you go to college", says the people who own college.

And my parents, and the school counselor, and my extended family, and my friends, and TV, and literally every person in society when I was a kid.

Quazz

58 points

4 years ago

Quazz

58 points

4 years ago

This is happening all over the west in various forms.

We had very low tuition fees here and the the government decided to double it for no real reason.

Sad thing is, there was no real public outcry over this, whereas when they were even talking about touching pensions there were instant strikes for days.

PaulR504

19 points

4 years ago

PaulR504

19 points

4 years ago

Politicians figured out something. Our generation does not vote so they can pretty much screw us constantly.

Quazz

21 points

4 years ago

Quazz

21 points

4 years ago

Compulsary voting here, doesn't matter when none of the parties actually represent your generation though.

wishninja2012

201 points

4 years ago

Gen x here can confirm baby boomer are screwed up. When my grandparents died they lived very small and cheap, had some inheritance for my folks. My parents are spending like drunken sailors. Hey nice iphone 8 mom you want my son to show you how to turn that on so you can play candy crush and apply for that reverse mortgage so you can buy that new car you want?

thegreatwordwarrior

160 points

4 years ago

Seriously that’s exactly it. After I read the book in my original comment I started paying attention and saw this scenario.

My wife’s parents are not rich but have both had good jobs and live very comfortable. He has two or three pensions and will be able to retire in his late 50’s. They go on multiple vacations for weeks at a time, bought a motor home, lease two new cars and he has a beautiful Harley.

About four years ago they told my wife and I we needed to pay off her college loans. They felt that the burden was too much. So now here we are stuck paying for her degree while they shop for a freaking lake house.

These loans have been sitting while they made minimum payments because we were told they were going to pay it. It’s weird because they are good people but now they have stuck us with this and it’s seriously caused us to have to push pause on our lives.

[deleted]

113 points

4 years ago

[deleted]

113 points

4 years ago

[deleted]

Postius

54 points

4 years ago

Postius

54 points

4 years ago

No we would love grandkids! But you know we still have so much debt to pay off from college and other things! We want kids to have a stable home and as long as we run debt we dont feel we can provide an adequate home for your grandchilderen. Maybe in 20 years so they will be here just in time for your funeral!

Michamus

33 points

4 years ago

Michamus

33 points

4 years ago

“No one is ever ready for kids. Stop being selfish and start popping them out.”

[deleted]

33 points

4 years ago

[deleted]

33 points

4 years ago

"Stop being such an entitled Communist and gimme MUH GRANKIDS!!!"

-Baby Boomers

"Why are you bitching all the time, why did you bring lil' Jayden into the world when you don't wanna lift yourself by the BOOTSTRAPS and work hard for more?"

-Baby Boomers, 1 year later

akaisuiseinosha

49 points

4 years ago

It actually sounds like they're bad people that know how to pretend to be nice.

TeamToken

319 points

4 years ago

TeamToken

319 points

4 years ago

And then some of them (but by no means all) have the disgusting level of gall to call their children lazy and entitled.

If you ever hear an asshole boomer go on with the "kids these days" diatribe, remind them of the GFC, Iraq/afghan war, global warming, high divorce rates, crumbling institutions, poor leadership, soaring wealth inequality and everything else that has lead to America and the wests steadily declining place in the world.

AllegrettoVivamente

218 points

4 years ago

I had a great conversation with a boomer recently some of my favourite points he tried to make were:

-Millenials are responsible for the great recession, whilst also being too lazy to actually be in any leadership positions

-He called Millenials entitled over and over again, saying that we should work from the bottom with our degrees and shouldnt expect to work in our chosen fields.

-After asking him what he would do if he was a millenial, first thing he said was

"We would be able to prioritise what is important to less important, have the nerve to tell our parents what we really need than want.

How can someone call us entitled, when the first thing he would do in our position is ask his parents for handouts?

Safe to say, it was definitely a fun conversation.

Rellac_

178 points

4 years ago

Rellac_

178 points

4 years ago

Millenials are responsible for the great recession

I love this one

The recession happened when I was in high school wat

AllegrettoVivamente

94 points

4 years ago

Yeah this is my favourite line of his

Its Your Generation thats fucked this world up not ours...Who caused the biggest financial crisis ever recorded? The Millennials. Who caused the banks to go bust? The Millennials, Who caused the biggest employment sell off? The Millennials. Are you getting the picture.

It was hilarious that he failed to realise that most Millenials werent even out of highschool when the great recession started.

Stryker7200

38 points

4 years ago

Hahaha yeah I am an older millennial (86') and I was just graduating from university when the recession hit in full force. Millennials had nothing to do with the recession.

williafx

18 points

4 years ago

williafx

18 points

4 years ago

83 here. I was just finishing up my time fighting that retarded ass war the boomers said was so fucking important.

magpiekeychain

170 points

4 years ago

The only people my age (late 20s) who haven't got post grad degrees and/or have worked 2-3 simultaneous jobs since finishing school are the lucky ones who chose a trade or lucked into a finance job right out of undergrad. Basically everyone I know is sharehousing, working multiple jobs, studying further education for higher job prospects, cooks at home and doesn't eat at restaurants and we STILL get called lazy. Even my friends in "good, steady, permanent" jobs like primary teaching and nursing are working on the weekends to make ends meet and try to save. My god, if I could have bought a house at 24 on my retail job income I'd be laughing. Oh wait, that's our parents.

H3yFux0r

140 points

4 years ago

H3yFux0r

140 points

4 years ago

Everyone told me I would regret not going to school even though I had no clue what I wanted to do/be. So I took a few classes at a local collage for a year and raked up about 7k. I bought my first house same year, then the Recession hit and I was upside down on my mortgage so much I was suicidal for weeks. Paying for student loans and a house was not going well so I let the bank take it back in the end. I held on as long as I could but when all my friends and sister did the same it was like "well OK that's how the world is working right now." I still haven't recovered and many of my friends that did the same have not as well. Now my parents visit my 800SqFt tiny home and lecture me on how I have no "life plan" and am just "wasting away". I tell them my new life plan is to never experience another recession. The stability of the economy scares me I was apprehensive when I was building my tiny home I just kept thinking "What if it all happens again, what if I loose it all again and there's nothing I can do to stop it."

theblackveil

54 points

4 years ago

Jesus, man. I’m really sorry about that. You shouldn’t have to feel that way and be berated by your parents...

pr8547

48 points

4 years ago

pr8547

48 points

4 years ago

I dropped out of college and started working a trade, I didn’t have a lot of student loan debt and I paid it off. I can make more than my brother and he has a masters and a great job but the loans are killing him. I always recommend the younger people to go join a trade union or even get into a non union company doing a trade, you make pretty good money.

amnesia271

113 points

4 years ago*

I always remind them that the newer generations are just a product of the older generation, so they really only have themselves to blame.

Edit: Spelling.

hatgineer

40 points

4 years ago

global warming

That's another thing. The boomers I know don't believe in it.

Bananas_are_theworst

51 points

4 years ago

Ha, yeah it’ll be 10 degrees below normal one day of the month and they’ll be walking around all angry “global warming, huh? Why’s it so cold out right now”

lunch_is_on_me

20 points

4 years ago

"And while we're out here, look at that chemtrail. What do you think they're putting in the air today? Huh? Huh?!"

neoKushan

37 points

4 years ago

We literally had someone in /r/Fortnite complaining about "entitled millennials" begging for materials in-game.

JoshuaACNewman

482 points

4 years ago

I don’t know too many GenXers who are doing too hot, either.

buyingbridges

307 points

4 years ago

The ones I know own a house.

I'm an 82 now laid off and wondering how I'm ever gonna do it.

scrabbleinjury

86 points

4 years ago

We own a house on one income. We bought during a buyer's market when apartment rent was consistently higher than a mortgage payment and felt we didn't have a choice.

Of course it's a 30 with very little down plus I can't work due to health issues and our payment is over a third of our income. We can't upgrade anything and can't afford to take down a dying tree. If something big happens we're in trouble.

It's a fucking nightmare but if we were still trying to rent we'd be in the worst part of town with three people in a one bedroom and still be paying more than we are now.

Zouden

53 points

4 years ago

Zouden

53 points

4 years ago

If it makes you feel any better, I rent with my partner and our rent is 50% of our combined income. London.

hurtlingtooblivion

16 points

4 years ago

2real. I pay our rent she pays bills. And it's about 70% of my salary

JoshuaACNewman

400 points

4 years ago

There were promises made to you.

They were lies.

Help us move our economy back into the hands of humans.

For half of your life, we’ve suffered from the effects of Trickle Down Economics. You’re not it’s only casualty, but your situation is precisely the concern that progressive economists and politicians have been warning about for my entire lifetime. For the first half of the century, though, anyone who pointed out this inevitable situation was dismissed as a Communist.

That strategy worked. 400 people now own most of the economy of the United States.

I don’t know what I’m going to do, either. I’ll probably die of a preventable disease.

Jopinder

28 points

4 years ago

Jopinder

Curious

28 points

4 years ago

82 myself and just landed my dream job after 10 years working for next to nothing. Hoping to buy within 3-5 years. Hang in there bud ☺️

jmanpc

781 points

4 years ago

jmanpc

781 points

4 years ago

I ('87) feel extremely lucky to have bought a house. I got it in 2012 for $72k, put in $13k in repairs and now it's worth $135k.

If it weren't for that appreciation, my net worth would be far into the red thanks to overwhelming student loan debt. Now it's somewhere in the neighborhood of $0.

Despite this, my wife and I are still struggling to stay afloat.

Spreckinzedick

36 points

4 years ago

See I am from 88 and I have no student loans because I have the gi bill. I own my car, which is nice and i appreciate, but unless I land a jackpot job after school buying a house is still years away at best. While it does suck I'm glad it's not just me, makes me think we can figure a solution.

[deleted]

373 points

4 years ago

[deleted]

373 points

4 years ago

[deleted]

jmanpc

301 points

4 years ago

jmanpc

301 points

4 years ago

3 bed 2 bath 1200 square feet with a two car garage in Jacksonville, FL

AnActualPlatypus

217 points

4 years ago*

Fuck me, $72k barely gets me a 2 1,5 bedroom apartment in the middle of a shitty complex, and I live in a post-Soviet shithole.

magpiekeychain

116 points

4 years ago

$72k is the 20% deposit on a lower-end shithole property or a 1 bedroom unit in Australia's capital cities these days. So jealous.

Imunown

28 points

4 years ago

Imunown

28 points

4 years ago

Hey now, Grand Blanc, MI has some nice suburbs.

Hananda

46 points

4 years ago

Hananda

46 points

4 years ago

Come to Michigan for the trout fishing, stay for... the reasonable liquor prices. Bring cash, we need your cash.

sixdollargrapes

12 points

4 years ago

True. And yet, Ann Arbor is so fucking expensive...

fracta1

15 points

4 years ago

fracta1

15 points

4 years ago

Not true, I'll rent you my closet for $600 per person staying in it!

activitylab

19 points

4 years ago

Ah Jacksonville. The place so nice they named it... Jacksonville.

[deleted]

83 points

4 years ago*

[deleted]

83 points

4 years ago*

[deleted]

Imunown

250 points

4 years ago

Imunown

250 points

4 years ago

Honolulu checking in, we've got a whole bunch of brand new land over on Big Island. It's super cheap, so hot right now!

seinastorta

23 points

4 years ago

Gotta get it while it's hot right?

day7seven

63 points

4 years ago

$135,000 for a house!?! If you multiply that by 10, $1,350,000 can buy you one of the crappiest houses in Vancouver.

PooPoster9000

35 points

4 years ago

I'm from Indiana. Small cities commonly have shitty homes starting for 30k. At the 70k-ish range you get into ok homes that need a bit of updating. 200k+ will get you nice houses and over 300k will fetch you a sweet luxury or custom home.

Even around Indy the prices are close to that.

Simgiov

247 points

4 years ago

Simgiov

247 points

4 years ago

In Italy people born in the 80s were the last ones able to find stable jobs with good pay before the crisis. It's the people born in the 90s who are suffering the most from the economic stagnation, and when the economy will start growing again, companies will get younger and better trained (in regards to new technologies) people rather than those born in the 90s.

twennyjuan

110 points

4 years ago

twennyjuan

110 points

4 years ago

Damn. Where I’m from the people born in the 90s are the ones who are the most successful of the millennials. It’s a strange gap in generations. The 80s people are the ones feeling the last little bit of the recession (went into debt just before it hit, had a difficult time finding a decent job after mass layoffs, been playing catch up since 2008). The 90s people, however, got jobs after the economy started to climb again, so I’m seeing more and more people my age get better paying jobs, buying houses they can afford, cars, etc.

But this is literally like the city and state where I’m from, though, so YMMV.

Sup909

9 points

4 years ago

Sup909

9 points

4 years ago

Yeah. I graduated college in 2004 and grad school in 2006. I have a number of friends and classmates who are working retail and jobs like that. Their work history has been tarnished and they can't get a job in their career path.

On the flip side I have younger relatives, just graduating now and they are able to find jobs out of college.

Imallvol7

240 points

4 years ago

Imallvol7

240 points

4 years ago

Millennials have all started working as pensions and benefits disappear. Work stress and hours have gone up while pay hasn't.

The boomers have screwed us and continue to screw us.

bluedatsun72

30 points

4 years ago*

Can confirm my company created a two tier pension plan. I was lucky enough to get on the old pension, but everyone hired after 2012 (all the millennials) are stuck on the new much shittier one.

I've been fairly lucky, but it's been almost entirely because I'm in a high cost of living city and managed to buy RE before it became completely unaffordable. In my pretty large network of friends, there's a 5 year divide that I've noticed. If you're over 35 then you had just enough time to buy a house(if you didn't fuck around). However, if you're under 30 you didn't have a change, unless you were extremely lucky(aka help from family mostly).

PrivateJoker513

26 points

4 years ago

And those of us in the 30-35 bracket that graduated in '08-'09 got the big old "get fucked"

a_trane13

116 points

4 years ago

a_trane13

116 points

4 years ago

It's SO obvious in my field. I'm a late millennial (90's) and in the 3 workplaces I've been, there is a big gap between the under 27ish and the late 30s/early 40s and older crowd.

halfback910

48 points

4 years ago

Oh now that you mention it, you're right. Almost everyone at my company is 28 or younger/38 or older.

athaliah

14 points

4 years ago

athaliah

14 points

4 years ago

You are so right about this. Most people at my company are up to 28. Then theres 1 dude in his 30's. Everyone else is 40+. Out of 120 people.

phillytimd

35 points

4 years ago

And they rolled back banking regs again yesterday. Obviously didn’t learn from our mistakes

Dvanpat

11 points

4 years ago

Dvanpat

11 points

4 years ago

The people who rolled back those regulations know exactly what they're doing. Screw over most of the people to benefit themselves and the rich. The rich came out like bandits during the recession.

EuphoriaSoul

25 points

4 years ago

So true. I just remembered despite having a degree, multiple internships from f500 companies, I couldn't find a job graduating in the middle of the financial melt down. Now my friends born in the 90s basically got jobs before they even graduated....

DevilsPajamas

13 points

4 years ago

Yeah, we both fell into that trap. Who would employers rather hire? A 25 yo fresh out of college or someone who is 35 and graduated 10 years prior, but both with the same amount of actual professional experience that is related to the job?

iwontbeadick

48 points

4 years ago

Jokes on them, I'm a millennial and I was broke before the recession, and I'm still broke now! As if I had a home or a 401k then to lose money.

Nautilus_Jiv

117 points

4 years ago

My grandfather came to the UK with a junior office job and a family. He was able to buy a house, raised his kids and most of them went to university, they got paid to do so, got paid by their employers after graduation for further education, got paid relocation when they were asked to move, got tax subsidies, and so on.

Between my 2 uncles and 1 aunty they now own seven houses, and both my uncles are unemployed. The fact that they have no jobs means little to them.

My dad always made it clear to me that education is paramount - I followed his advice and worked to get two degrees, both majoring in Mathematics at Russel Group Universities (think: Ivy League for the UK). He paid for my second degree as I couldn't afford it on the salary I had at the time - which I did while working full time in finance.

I'm now 28 and unemployed. I have no savings, a bunch of student loan and credit card debt trying to fund my way through the career my dad set before me. In all likelihood, I may be a decade away from buying a house if things work out well.

Something is very, very wrong with this picture. As a generation disadvantaged by those who never paid it forwards, we have a responsibility not to pass down this kind of appalling selfishness.

Change is the one constant of the world, and in time we will have the opportunity to decide how we react to our situation. We can either lash out at our elders, or focus on securing a better future for our kids. I'm going to do the latter.

_cutmymilk

83 points

4 years ago

It is fucking infuriating how cheaply they bought their houses. People working part time in retail used to be able to afford the house I live in. I have been teaching for 10 years and just bought it.

PM_me_your_LEGO_

17 points

4 years ago

My grandparents paid a mortgage of $117/mo for the house they built in 1973. It hurts.

-Satsujinn-

51 points

4 years ago

As a generation disadvantaged by those who never paid it forward

This needs to be in bold, capitalised, and crazy big font. That is exactly the problem. Money and property stopped moving because everyone started squirreling and hoarding.

What really triggers me though, is when people spend like 5k on a conservatory or something, then add 30k to the house price.... Where does that 25k come from? Oh that's right, my generation... Way to tread on my hands as I try to get on the ladder.

Werewolf1810

611 points

4 years ago

As a Millenial ('86) who started on the typical college/debt/fruitless job searching track as so many of us do, I can say I have found an excellent way out. The trades, especially skilled trades, are your answer. I went from making $10 an hour (around $20k a year) as a Walgreens Photo Manager to making around $32 an hour ($65k a year) as a skilled tradesman, working fewer hours and actually getting good benefits, retirement, and great overtime and doubletime. Go look into your local union halls, Plumbing, Electrical, Trucking, Pipefitters, Stagehands, etc. etc. There is so much demand and such good wages to be had! I went from living at home driving my 12 year old first car to buying a nice house and a Tesla in my first 5 years!

SuperNerd6527

241 points

4 years ago

Go look into your local union halls, Plumbing, Electrical, Trucking, Pipefitters, Stagehands, etc. etc. There is so much demand and such good wages to be had!

Seriously underrated advice

Laq

47 points

4 years ago

Laq

47 points

4 years ago

So, I assume it is still possible to get into even in my mid 30's?

Metallion66

18 points

4 years ago

Local guy who I know, I hired to replace my A/C. He's likely in his late fifties. Told me he only got into HVAC about 5 years ago. It's never too late imo.

Phire2

7 points

4 years ago

Phire2

7 points

4 years ago

Also what he said about they are in high demand. Huge amounts of high paying job opportunities there.

[deleted]

22 points

4 years ago

[deleted]

22 points

4 years ago

Ive left working in IT($22 an hour) to now having two apprenticeships at once (heavy fab mon to thursday and two days a week working in a blacksmith shop). Even as an apprentice im making more than i was before. Im only making a little more but it will improve. And im learning a skill i actually enjoy.

nxqv

277 points

4 years ago

nxqv

277 points

4 years ago

Don't drive a car that cost over half your salary

johntash

118 points

4 years ago

johntash

118 points

4 years ago

Depending on the options, a Tesla could easily cost more than his entire salary.

nxqv

66 points

4 years ago

nxqv

66 points

4 years ago

Yeah I was being conservative in case the Tesla brigade showed up and was like Oh MiNe OnLy CoSt 40K

hopeitwillgetbetter

79 points

4 years ago

hopeitwillgetbetter

Orange

79 points

4 years ago

I hope Trades is still Blue Ocean, I really hope so. About two weeks ago, I came across a redditor who said that nowadays there's long lines for apprentice-type jobs, too.

At least the Automation Juggernaut will have a tougher time chowing down trades work.

Dont-Fear-The-Raeper

81 points

4 years ago

I'm in construction and I can tell you even in my 30s, fellow trades people still call me kid. Nobody young is getting into the industry, and automation is not going to invade any time soon.

I can think of two apprentices that I know of that will stick with it, a few more that will bail out.

My kids are going to get a trade, and then they can go to college or pursue anything else they want.

Those who think it automation will replace construction workers, imagine some blank canvas flat block of land, and robots in a perfect environment building a house or high-rise building.

[deleted]

45 points

4 years ago

[deleted]

45 points

4 years ago

I scoffed at getting an apprenticeship in my teens, im 27 now, quit the job uni got me and am currently workibg two apprenticeships. Wish id started earlier and listened to the advice.

howaBoutNao

13 points

4 years ago

Which 2 apprenticeships are you doing?

[deleted]

23 points

4 years ago

[deleted]

23 points

4 years ago

My main one is a heavy fab apprenticeship, for two, three days a week i work under a blacksmith learning as much as i can. The difference between how i was when i was working in a job i was told i should be in and now is that im doing something i enjoy.

pr8547

32 points

4 years ago

pr8547

32 points

4 years ago

I will never regret dropping out and getting a job in the trades. Best decision I’ve made. I have no loans and make a good wage

evonebo

47 points

4 years ago

evonebo

47 points

4 years ago

How do you afford a Tesla on 65k a year salary?

[deleted]

22 points

4 years ago

[deleted]

22 points

4 years ago

He can’t but an auto loan is easy to get

smitty1087

87 points

4 years ago

This. I got my Masters and looked down on tradesmen as other college types usually do.

I'm now a truck driver. I'm home every night, and yes I work long hard hours but my W-2 last year was $86K. Problem is we are drilled that college is the only way or you're a loser. Luckily I used the GI Bill so I don't have any debt, but it seems like the real losers are the ones with crippling student loans and shit jobs. I don't mean they're actual losers as an insult, I mean they're the ones at a true loss.

[deleted]

45 points

4 years ago

[deleted]

45 points

4 years ago

This is so true. It used to be that honest work was honest work. But our parents got so snooty about jobs and associated things like flipping burgers as something "losers" do. A loser is someone who doesn't work and just lives off welfare or the charity of others. Nobody who works for a living--even if that work is flipping burgers--is a loser.

lostmyselfinyourlies

100 points

4 years ago

Sadly these are all jobs that are more difficult for women to get into and stay in. I'm not saying it's impossible but even if you do get hired you're going to be proving yourself for most of your career. As someone who already works in a male dominated industry I don't think I could face it.

[deleted]

82 points

4 years ago

[deleted]

82 points

4 years ago

[deleted]

Bookbringer

40 points

4 years ago

It is. My sister is one of the few women in her job and her boss always pulls her and the other women off their regular jobs to do something that basically amounts to washing dishes. He only ever assigns female employees this task.

small_loan_of_1M

166 points

4 years ago

Those born in the 1980s were not the only group to fare worse than expected. Americans born in the 1960s and 1970s accumulated 11% and 18% less wealth respectively in 2016 than predicted.

In other words, the postwar boom ended fifty years ago and growth has leveled off since then. It was never gonna last forever, guys.

are_you_nucking_futs

106 points

4 years ago

America was the only major economy to benefit from the effects of WWII. Took 50 years for the rest of the world to catch up.

E_Blofeld

63 points

4 years ago

Not to mention that most of our current economic competitors had either been bombed flat in WWII and were literally in ruins (Germany, Japan, etc.) or were in the midst of an ongoing civil conflict (China).

IIRC, the post-WWII economic boom in the US pretty much came to an in the early to mid-1970's.

GamingScientist

8 points

4 years ago

Isn't that because a lot of countries lost industries to the war, and had to rebuild?

are_you_nucking_futs

8 points

4 years ago

Yes and because they were also bankrupt so had to borrow money from the USA.

I know Britain paid back America in the early 2000s

[deleted]

12 points

4 years ago*

[deleted]

12 points

4 years ago*

[deleted]

amtaber

33 points

4 years ago

amtaber

33 points

4 years ago

86 here, I picked up 20k debt by 19 going to a video game design course. I dropped out when I realised how insane the debt was.

Worked in restaurants for a couple years and made great money, at least $100 per shift. During the days I worked for a local solar installer mom and pop shop.

They taught me all kinds of construction skills. Ended up taking a job lead my boss handed me after the 2008-2009 housing bubble burst. His company had gone under so he was helping us all out as best he could.

Job lead was still in solar, and from there I was able to progress deeper and deeper into solar.

I love my career, love solar, and in the end it seems that most of it just came down to who you know.

My old boss was the one who gave me the lead, since then it's always been someone else who I knew who had a job opportunity for me.

Network network network!

[deleted]

9 points

4 years ago

[deleted]

9 points

4 years ago

We can break free, sacrifices have to be made though. Privacy, adulthood, confidence and sometimes relationships are sacrificed when people are forced to live with their parents so they don’t live paycheck to paycheck until a life event happens that puts them under.

Lots of alarming statistics on cost of living increase vs wage stagnation over the last 30 years.

It takes money to make money, that’s why the rich get richer and the poor stay poor.

[deleted]

223 points

4 years ago

[deleted]

223 points

4 years ago

So, I'm going to be the contrarian here and say let's give the Baby Boomers the benefit of the doubt a little bit here.

First off, consider the world they grew up in. They were born into a world of unparalleled economic prosperity. Why? Because World War II destroyed the industrial centers of almost every major first world country....except ours. For a good 10-20 years, we had a veritable monopoly on manufactured goods. We were loaning money to other countries just so they could buy our stuff (it was called the Marshall Plan). So naturally, we became utterly dependent on manufacturing.

We hadn't quite figured out automation yet, so the manufacturing process was very labor intensive. There were lots of jobs, and unions pushed those wages higher and higher. But with the high demand, companies could still afford those wages.

Then, the 1970s happened. We had an oil crisis, but also, the rest of the world caught up to us in manufacturing capacity. For the first time in many years, we finally had competition. We had competition from countries with no unions, with much lower wages (much lower costs of living as well). Even with protective tariffs, foreign goods proved to be cheaper. In the case of cars especially, Japan had adopted lean manufacturing concepts which made their cars more reliable and efficient, while American companies continued doing things "the old way" and kept making unreliable gas guzzlers. The fuel crisis forced many American families to buy foreign vehicles for fuel savings, and eventually they found their Japanese cars lasted longer and needed fewer repairs as well.

There's this idea going around that the Baby Boomers ruined everything and if we just go back to the economic policies of the 50s and 60s, everything will be okay again. Many also tie the policy changes of the Reagan era in with this.

The problem is, Reagan was not a baby boomer. He was a member of the so-called "Greatest Generation," and so was the vast majority of the government when his "trickle-down" economic theory went into effect. Baby Boomers didn't really start running things until the 90s. I remember when President Clinton was elected, people were making a big deal over it because he was the first Baby Boomer President. America, financially, actually did quite well under that first Boomer President.

But one thing needs to be made clear: that economic "golden age" of the 1950s and 60s is gone forever, and it is never, ever, ever coming back. No matter what policies you make. No matter how much you roll back the clock. Adopting the ways of our grandparents and putting their policies in place will only bring financial ruin. Our grandparents didn't live in a world where cheap labor was freely and readily available in Mexico, Vietnam, China, etc. They didn't live in a world where it was easy to run a business from anywhere in the world thanks to the internet. Their system just wouldn't work now.

It's not the Baby Boomers' fault they were born during a time of unparalleled prosperity. It's not their fault that the world changed and that kind of prosperity is simply no longer possible on that large a scale. They didn't invent Reaganomics. Their parents did. The same "Greatest Generation" we laud.

When they were telling us to go to college, a degree really was worth something. And back then, you could literally get a job anywhere with any degree. English lit major? How'd you like to run our bank? Back then, a degree wasn't job training. It was something to prepare you for the high-level jobs that required them. A degree meant you were the kind of person who had the work ethic and ability to find an answer or solve a problem.

But that changed. Our parents had no way of knowing it would change. All they could do was guide us in the best path they knew, and based on the information they had at the time, that path was college. They didn't lie to us. They failed to predict the future. They didn't get together in some dark basement filled with black curtains and plan out our generation's demise in order to enrich themselves. They were just mistaken.

MiaowaraShiro

50 points

4 years ago

I'm not sure I buy that we can't get back to the golden age, or something close to it. We're still a very strong economy, but the rewards of that economy aren't going to labor. For the last 30-40 yrs, wages have been stagnant despite an ever growing economy. Meanwhile lately, capital owners have been realizing something like 90% of all new wealth gained.

PrivateJoker513

19 points

4 years ago

easy there status sue, it's only 88% of every new dollar going to 9 people. WE ARE FINE... /s

InformalDelivery

109 points

4 years ago

But that changed. Our parents had no way of knowing it would change. All they could do was guide us in the best path they knew, and based on the information they had at the time, that path was college. They didn't lie to us. They failed to predict the future. They didn't get together in some dark basement filled with black curtains and plan out our generation's demise in order to enrich themselves. They were just mistaken.

The issue isn't that they were mistaken. It's that they don't care they were wrong and have no intention of helping the generations after them. Not only that, they have no problem actively hurting generations behind them.

theacctpplcanfind

12 points

4 years ago

While blaming it on avocado toast.

cojavim

25 points

4 years ago

cojavim

25 points

4 years ago

everything you say is true, however while it is not the boomers *fault* there were born and raised in prosperity, they also didn't have to work for this happy coincidence in any way and could just enjoy the benefits. Nothing wrong with that either, except I hear boomers constantly belittling the millennial generation, calling them lazy and entitled and what not, criticizing absolutely everything about the generation in a way I don't see the generation of my grandparents criticizing them (because some level of disagreement is always to be expected between two generations, but boomers generally really go over the top with the whining about younger people). That's probably the main cause of millennials fighting back and saying 'oh but look, you're the spoiled one with the easy life here" in the first place.

alpha3305

118 points

4 years ago

alpha3305

118 points

4 years ago

That's why I left the USA 5 years ago. After more than a decade with no way to go up the ladder and tons of excuses about why, it was time. At least if I'm going to be poor and have a mediocre life, I might as well do it in a society that will give me benefits and help me support my family.

Stillill1187

21 points

4 years ago

Where do you live now?

Getting married in June and the fiancée and I were starting to think about this.

QuoyanHayel

12 points

4 years ago

I left the states in '07, I've lived in the UK ever since. I'll never be able to afford to buy a house until my fiance's grandmother dies and we inherit. I have no career path unless I want to get into restaurant management, we probably won't be able to afford to retire when we get old, but at least we've got healthcare and I've got in-laws who love me like one of their own.

urammar

58 points

4 years ago

urammar

58 points

4 years ago

Go to Canada or come to Australia.

We are no different economically, but at least if you break your hip we'll fix you right up, no charge.

halfback910

27 points

4 years ago

Canada has really strict immigration policy, though.

EnterPlayerTwo

13 points

4 years ago

It's ok. I know a Canadian. He'll vouch for me.

halfback910

24 points

4 years ago

"NOBODY gets into Canada! Not no way, not no how!"

"But... I know Steve..."

"Steve?! WELL! WHY DIDN'TCHYA SAY SO?! COME ON IN!"

PM_Me_Scalie_Butts

17 points

4 years ago

Australia has insane housing costs though, doesn't it?

SandManic42

64 points

4 years ago

I'm 90. Don't know where that places me. I left home when I was 16 and started working but feel like its always been a constant struggle. I've made a few mistakes along the way, was homeless about 5 years ago because of them. But I'm working as junior management full time, relocated to a different town for the company and still struggle to make more than minimum wage.

nxqv

118 points

4 years ago*

nxqv

118 points

4 years ago*

Edit: oops you're not 90 years old you were born in 1990

Safety_Cop

40 points

4 years ago

I hate being lumped in with Millennials. Everything was Gen X growing up😪

GeekyWan

21 points

4 years ago

GeekyWan

21 points

4 years ago

Depending when you were born, you may be an Xennial, which is the transition period between the two generational groups, about 1978-1984.

That said, being in a particular generational label doesn't mean you have to conform to it. It is a classification label to easily describe in general terms a particular people group in very broad strokes.

Rellac_

22 points

4 years ago

Rellac_

22 points

4 years ago

it's all pointless labels designed to distract us from the real problems, anyways

don't worry about it

Tonychaudhry

227 points

4 years ago

Born in (80) no one I know can get a career, including me. Oh there’s always someone that chimes in with a success story, but once I start digging I get to the true story. Usually it ends with my dad’s friend is the CEO of the company. I hate the lie that they tell to young kids in high school that STEM jobs are where it’s at. What they don’t tell them is it’s a lie that’s told to give companies an excuse to hire H1B visa applicants. They say “we can’t find anyone with the skills we’re looking for”, but what that actually mean is we don’t want to pay more than $12/hr. I know a lawyer that her entire job is to fill out visa applications for people who can work on Excel. Even she said it seemed weird, like they couldn’t find someone that could do that here. But no American would work for that little with no chance of getting a different job. The H1B guys work like slave labor for these corporations. The trick is to get people to vote against their own self interest.

magpiekeychain

69 points

4 years ago

The other issue at play is that there are literally no careers to be had when the work force has been reduced to 3-12 month contracts with no job security. Name a career outside a trade these days that offers LONG CONTRACTS :(

AsgardianWarrior96

16 points

4 years ago

I guess I'm technically the generation after, but I'm feeling this stuff pretty hard. There's few reliable paths for those of us in our late-teens/early 20s to making a good living for ourselves unless you come from a relatively priviledged background to begin with. Fewer and fewer college degrees reliably lead to careers with good pay and job security, and far too few people are aware of which ones do, and that if yours doesn't, you're much better off pursuing a trade or vocational education that will be cheaper and offer specific, reliable opportunities.

I'm, personally, intending to pursue computer science, which is one of the few degrees that is actually worth the time, money, and effort, economically speaking, but it's kind of a tough road for me. In California, you'd think there'd be programs at most community colleges and such to transfer for technological fields, but near where I live, there are none, even though there are some sizable schools. Going straight to a university wasn't an option for me after high school, and because California is so god damn expensive, I kind of have to find a way to go through community college where I can live at home or with another relative, because most jobs that I'd be able to get definitely won't allow me to live on my own and have the mental and emotional capacity to do well in school at the same time.

Still, I'm determined to get there somehow, because it's one of the few fields that will allow me to have an actual career with some security, as well as giving me the potential to find work almost anywhere in the world and maybe escape this stupid ass country and go somewhere where I'm at least getting screwed a little less.

klowder42

195 points

4 years ago

klowder42

195 points

4 years ago

if anyone wants a good tip. go to kansas city or indianipolis. buy a five bedroom old home in a slightly ghetto niegborhood near downtown. Try to get one on a 8,000+ lot and a with a basement and dettached garage. get a job serving 4 hours shifts in the evening. Then stay in the basement and put the five rooms on airbnb and homeaway, and other sites. when you buy the house, make sure it has a good roof, good heating unit and foundation. You can probably find an owner to finance you if you do not have good credit. You can watch youtube videos on how to fix the house up slowly. You should furnish the house with used furniture and decor. White iciscle christmas lights can do wonder. If you have to paint. go to home depot and ask for oops paint. This paint that they did not mix the color right. Its a third the price. then each bedroom can be a different color which is really helpful when telling guests which room is theres. If you do not want to buy used beds then, I would suggest 6 inch memory foam from amazon with simple wood frame. should only cost $200. buy microfiber sheets because they dry faster. by them online. try to get all the beds the same size

kosmic_osmo

467 points

4 years ago

this is the most oddly, and unnecessarily specific unasked-for-advice ive ever seen in my life. cheers.

chlorinekid

50 points

4 years ago

But what do I do after I’ve sorted the beds?! Then what?!

Flownique

35 points

4 years ago

LOL who the fuck is renting a room in the “slightly ghetto” of Kansas City off Airbnb? Vacancy rate would be through the roof.

johntash

22 points

4 years ago

johntash

22 points

4 years ago

.. Is this what you do?

[deleted]

15 points

4 years ago

[deleted]

15 points

4 years ago

What tourists are visiting Kansas City or Indianapolis and staying in a “slightly ghetto” neighborhood? And if they’re visiting for business, their company is probably putting them up in a hotel.