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Millennials earn 20% less than Boomers did at same stage of life

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Re: Millennials earn 20% less than Boomers did at same stage of life

#21

Post by aczerepinski »

throwaway2016a wrote: post #3
elmerfud wrote: post #2

Millennials prioritize entertainment and free time more than boomers as well. Millennials also start families later in life. These are the values boomers taught that money doesn't buy happiness. So this is not really shocking to see that they are not in the same place monetarily. I would view this is at least some measure of success. The boomers were able to teach a value system they believed was better than their li…

Anecdotally, most millenials I know who are waiting to start a family are doing it because they can't afford to, not by chose.

Agreed. Pre-school costs $15k/year where I live. There are an awful lot of careers in which that would be a tough pill to swallow. Maybe one parent stays at home with the kid... but then you're a single income family and housing prices are no joke either.

Re: Millennials earn 20% less than Boomers did at same stage of life

#22

Post by Eric_WVGG »

Altay- wrote: post #7

More people go to college today so we're 4 years later into the labor force. This will only mean something when we hit prime working age for millennials. Let's see the numbers then.

Millennials are reaching their mid thirties. Exactly what is prime working age?

Re: Millennials earn 20% less than Boomers did at same stage of life

#24

Post by ElectronCharge »

tmuir wrote: post #13

In other news: when you look at a complex, multidimensional problem on a single, linear axis, you arrive at misguided conclusions.

The "complex, multidimensional problem on a single, linear axis" is the economy - mismanagement of same over the last eight years results in where we're at. It should improve going forward... :-)

Re: Millennials earn 20% less than Boomers did at same stage of life

#25

Post by kittiepryde »

Altay- wrote: post #7

More people go to college today so we're 4 years later into the labor force. This will only mean something when we hit prime working age for millennials. Let's see the numbers then.

If you just get 4 years delayed, college isn't worth the debt (same income? or worse? 4 year 'prime' delay)

Re: Millennials earn 20% less than Boomers did at same stage of life

#26

Post by tmuir »

candiodari wrote: post #17
elmerfud wrote: post #15

Earlier quoted context omitted.

All the comments show my point. These are the values that were taught by the boomers. Ask a boomer, were they ready for a family when they got one? No, but it was the thing to do, so they did it, made it work, and life was hard. Go back and look at the old childhood photos and you'll see what I mean. These people clearly weren't ready for kids in our modern sense of being ready. This is a quite complex subject, but t…

Do you think a focus on instant gratification is anything new ? I mean you clearly do, but it seems such a weird point to make.

The internet has shown us how wonderful instant access to the world's information can be, and we've decided that everything is better with internet. Its an extremely coherent point to make, in my opinion.

Re: Millennials earn 20% less than Boomers did at same stage of life

#27

Post by tmuir »

ElectronCharge wrote: post #24
tmuir wrote: post #13

In other news: when you look at a complex, multidimensional problem on a single, linear axis, you arrive at misguided conclusions.

The "complex, multidimensional problem on a single, linear axis" is the economy - mismanagement of same over the last eight years results in where we're at. It should improve going forward... :-)

I can't tell if you're disagreeing with me, or proving my point by example.

Re: Millennials earn 20% less than Boomers did at same stage of life

#28

Post by heurist »

ElectronCharge wrote: post #24
tmuir wrote: post #13

In other news: when you look at a complex, multidimensional problem on a single, linear axis, you arrive at misguided conclusions.

The "complex, multidimensional problem on a single, linear axis" is the economy - mismanagement of same over the last eight years results in where we're at. It should improve going forward... :-)

You mean over the last 40 years?

Re: Millennials earn 20% less than Boomers did at same stage of life

#29

Post by untog »

Altay- wrote: post #7

More people go to college today so we're 4 years later into the labor force. This will only mean something when we hit prime working age for millennials. Let's see the numbers then.

Shouldn't college get you a higher salary? If all it does is delay your earning potential for four years why would anyone do it?

Re: Millennials earn 20% less than Boomers did at same stage of life

#30

Post by untog »

ElectronCharge wrote: post #24
tmuir wrote: post #13

In other news: when you look at a complex, multidimensional problem on a single, linear axis, you arrive at misguided conclusions.

The "complex, multidimensional problem on a single, linear axis" is the economy - mismanagement of same over the last eight years results in where we're at. It should improve going forward... :-)

Given the state of the economy in 2008, I think we're going to need to back a little more than eight years I'm afraid.
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