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Millennials 'set to earn less than Generation X'

bbc.com

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Re: Millennials 'set to earn less than Generation X'

#61

Post by Mao_Zedang »

eanzenberg wrote: post #47
drchiu wrote: post #4

I think for many millennials, the conclusion of this article doesn't come as a surprise. As a member between the Gen X and the millennial crowd, I've certainly seen how much harder people just a few years younger than me have it as well as how much easier for those slightly older. Older generations don't realize that their wealth is primarily built up in what is really an elaborate ponzi scheme of sorts, money which…

Why the stark contrast between bordering age groups? Difference in effort, intelligence, experience, drive?

Slowly increasing ages of those who retire, combined with reduction in the work force size required to maintain the status quo (globalization/mechanization).

Re: Millennials 'set to earn less than Generation X'

#62

Post by xapata »

drchiu wrote: post #4

I think for many millennials, the conclusion of this article doesn't come as a surprise. As a member between the Gen X and the millennial crowd, I've certainly seen how much harder people just a few years younger than me have it as well as how much easier for those slightly older. Older generations don't realize that their wealth is primarily built up in what is really an elaborate ponzi scheme of sorts, money which…

To be fair, the Boomers didn't intentionally create a Ponzi scheme. They were just irrationally exuberant when estimating future economic growth.

Re: Millennials 'set to earn less than Generation X'

#63

Post by icpmacdo »

bbcbasic wrote: post #52
drchiu wrote: post #4

I think for many millennials, the conclusion of this article doesn't come as a surprise. As a member between the Gen X and the millennial crowd, I've certainly seen how much harder people just a few years younger than me have it as well as how much easier for those slightly older. Older generations don't realize that their wealth is primarily built up in what is really an elaborate ponzi scheme of sorts, money which…

Stagnating wages, rapidly increasing house prices, bad terms for renters, increasing university costs. If I were 20 I'd consider working remote and just go live in a much cheaper country. You could get a boomer lifestyle yet!

What the best way to get gigs thats not race to the bottom style jobs on Upwork? I am in that exact situation right now trying to work remote, I have some professional experience but I'm still a junior dev.

Re: Millennials 'set to earn less than Generation X'

#64

Post by bbcbasic »

trentmb wrote: post #58
bbcbasic wrote: post #52

Earlier quoted context omitted.

Stagnating wages, rapidly increasing house prices, bad terms for renters, increasing university costs. If I were 20 I'd consider working remote and just go live in a much cheaper country. You could get a boomer lifestyle yet!

It seems hard enough to establish credibility for an in-office job these days. I can't even imagine trying to get a remote gig. Perhaps that says more about me though? Granted, I've deliberately eschewed larger cities, and as a consequence I've had a harder time convincing people that just because my degree was in math I can still be a competent developer.

This is a problem definitely. Freelancing may be required. Save up 5k and that should keep you fed and accommodated in say Laos for a year ... plenty of time to get the freelancing going. Charge as if you are in the US and invest most of it!

Re: Millennials 'set to earn less than Generation X'

#65

Post by [deleted] »

WalterBright wrote: post #15
58028641 wrote: post #7

Earlier quoted context omitted.

The US president cannot do much without congress yet people never fail to blame the president for every problem.

The President also gets the credit for every success. For example, all the articles comparing the party of the President with economic results. Never mind that the party controlling Congress at the time might be the other one.

[deleted]

Re: Millennials 'set to earn less than Generation X'

#67

Post by Erik816 »

saosebastiao wrote: post #46

When boomers wanted cars, we subsidized cars. When they wanted education, we subsidized education. When they wanted gas, we subsidized gas. When they wanted suburbs, we subsidized suburbs. When they wanted to take a loan out of their retirement, we paid for it out of ours. When they wanted to eat themselves into oblivion, we paid for their health care. Now that they are sated, millenials want the same...but the boome…

That broad generalization doesn't fly with my observations. There are plenty of wealthy (or at least high income) millenials and plenty of poorer baby boomers.

Re: Millennials 'set to earn less than Generation X'

#69

Post by flomo »

BuckRogers wrote: post #24
dleslie wrote: post #8

Earlier quoted context omitted.

I'm in the same boat, born on a cusp year of the two generations, and I have long felt like a surfer who is struggling to ride the crest of a wave but who knows that the crash to shore is fast approaching.

I think a lot of us are. My parents are Boomers and we were born between 78 and 82. Technically being born in 78 makes you GenX. Yet if you have a brother born only 4 years later, it's another generation? We had the exact same experience, Atari 2600 on a TV that is now weird to even think existed. No TV remotes, walk up and change the channel. Rotary phones, city directories and phone books. Need the time and temp? Y…

Because "generations" are mostly marketing bullshit that are constantly being adjusted to sell the latest newborn consumers youth products. As a GenXer, I always thought it was funny that GenX was defined down to the point that Douglas Coupland (b.1961), the guy who literally wrote the book, was too old to be a GenXer.

(The other aspect to this is that when I was young, almost everything I read about "Generation X" was a humungous load of bullshit. So I assume any article about "Millennials" has the same veracity.)

Essentially, I agree with you that technological revolution is what really matters. This business about media consumption identification, whether it was Brady Bunch or Super Mario Bros, doesn't really matter to anyone but the marketers.

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