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Gen Z is going to have a hard time getting rich

businessinsider.com

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Re: Gen Z is going to have a hard time getting rich

#41

Post by ptr2voidStar »

blumomo wrote: post #39

I hope Gen Z has more precious goals than getting materially rich. Not that I’m against material richness. But I do hope that we as humanity evolve together on a spiritual level. There’s so much material value already created, so many jobs are automated. I hope that we humans strive for higher goods, fully develop our potential, and start to learn seeing again that there’s a universal order that includes a worldly go…

> I hope that Gen Z recognizes the madness that is currently coming to light and as a consequence starts doing better than their previous generations.

This is wishful thinking - at best. Has human history not taught you anything?

Re: Gen Z is going to have a hard time getting rich

#42

Post by jrsj »

blumomo wrote: post #39

I hope Gen Z has more precious goals than getting materially rich. Not that I’m against material richness. But I do hope that we as humanity evolve together on a spiritual level. There’s so much material value already created, so many jobs are automated. I hope that we humans strive for higher goods, fully develop our potential, and start to learn seeing again that there’s a universal order that includes a worldly go…

(this is all just my opinion based on personal observations. I haven’t done research into concrete data on this so take it all with a grain of salt.)

So far they seem even more materially oriented. Because that’s how we teach people to be.

We lie to children and tell them that the most important thing in their lives and their primary source of fulfillment is a career. When in reality most of us get that from our relationships with other people, and a career is just a means to an end.

And of course social media continues to reduce social interaction down its most shallow possible level.

All financial considerations aside, Gen Z will probably be the most isolated, mentally ill, and least self sufficient generations in a very long time. And that’s because of the world we made for them.

Re: Gen Z is going to have a hard time getting rich

#43

Post by blumomo »

ptr2voidStar wrote: post #41
blumomo wrote: post #39

I hope Gen Z has more precious goals than getting materially rich. Not that I’m against material richness. But I do hope that we as humanity evolve together on a spiritual level. There’s so much material value already created, so many jobs are automated. I hope that we humans strive for higher goods, fully develop our potential, and start to learn seeing again that there’s a universal order that includes a worldly go…

> I hope that Gen Z recognizes the madness that is currently coming to light and as a consequence starts doing better than their previous generations. This is wishful thinking - at best. Has human history not taught you anything?

Have positive thinking and self-fulfilling prophecy told you something?

Re: Gen Z is going to have a hard time getting rich

#44

Post by blumomo »

jrsj wrote: post #42
blumomo wrote: post #39

I hope Gen Z has more precious goals than getting materially rich. Not that I’m against material richness. But I do hope that we as humanity evolve together on a spiritual level. There’s so much material value already created, so many jobs are automated. I hope that we humans strive for higher goods, fully develop our potential, and start to learn seeing again that there’s a universal order that includes a worldly go…

(this is all just my opinion based on personal observations. I haven’t done research into concrete data on this so take it all with a grain of salt.) So far they seem even more materially oriented. Because that’s how we teach people to be. We lie to children and tell them that the most important thing in their lives and their primary source of fulfillment is a career. When in reality most of us get that from our rela…

Let’s help them create a better world. We see what they are struggling with, we as their parent generation have it in our hands.

Re: Gen Z is going to have a hard time getting rich

#46

Post by actually_a_dog »

achillesheels wrote: post #26
actually_a_dog wrote: post #10

Earlier quoted context omitted.

> "nobody needs" is a protest that doesn't matter to anyone except people interfering in other's personal business. At a certain point, no, it really isn't. When a single individual has enough money to influence public policy where I live, I would definitely say that's too much money. It becomes my business when someone who votes with their dollars gets more votes than I do with my actual vote.

So you are against the ability to speak unlimitedly? And who is to say your judgments are superior or that this individual’s public policy is necessarily inferior? People who have the ability to move things tend to move more things. I don’t see this as explicitly wrong, but natural. On the other hand, efforts to give masses of people disproportionate political rights have led to more murder in the last century than a…

> So you are against the ability to speak unlimitedly? And who is to say your judgments are superior or that this individual’s public policy is necessarily inferior?

Yes, I am absolutely against unlimited free speech to the extent that it undermines democracy. I will say it explicitly here: no single, private citizen, whether as an individual or through some corporate proxy, whether that's some PAC or Amazon.com, should be able to influence public policy to the extent that they are able to today.

As for your straw man about my judgement being superior, I did not say that. I said that voting with ones dollars should not be more powerful than voting with one's votes. I believe in 1 person = 1 vote. So, in fact, I am claiming that my view on public policy is no better than someone with millions or billions of dollars.

But, what do I know? After all, I am actually_a_dog on the internet. ;-)

Re: Gen Z is going to have a hard time getting rich

#47

Post by passivate »

blumomo wrote: post #39

I hope Gen Z has more precious goals than getting materially rich. Not that I’m against material richness. But I do hope that we as humanity evolve together on a spiritual level. There’s so much material value already created, so many jobs are automated. I hope that we humans strive for higher goods, fully develop our potential, and start to learn seeing again that there’s a universal order that includes a worldly go…

I think people are put off by the word "rich" or "wealth" in this article. But I read the article and mentally replaced it with "financial security". I work with a lot of Gen Z's and they just want some sense of security.

>as a consequence starts doing better than their previous generations

But how can you do better when you don't have job security/home/retirement savings? Its far easier to be generous with your time/money when you're well off. I fear we're slipping into a gritty decade even crazier income inequality.

Re: Gen Z is going to have a hard time getting rich

#48

Post by skissane »

structural wrote: post #36
quacked wrote: post #11

Earlier quoted context omitted.

I lack your optimism; when they pass on, their houses will be transferred to small- and big-time rental companies, who will rent their houses to young people for more than a mortgage would cost. The only hope, in my opinion, is a giant, propaganda-driven cultural movement away from money and towards societal stability.

What's also interesting is that transportation & communication are very much easier than they were for past generations. This is also combined with shorter times that a worker stays at a single job before moving on for another opportunity. Put all this together and nobody wants to stay in a single house for 10+ years, or even in the same city for that length of time: at this point, buying a house would be counterprod…

> Put all this together and nobody wants to stay in a single house for 10+ years, or even in the same city for that length of time

It can change when (and if) you have kids.

Uprooting our kids to move somewhere else is going to be a burden on them. I experienced that burden as a child, I don’t want to visit it on my own children unless it is (in other ways) a really compelling proposition. Especially as parent of a child with a neurodevelopmental disorder, who I know would find the disruption harder than the average child would

Re: Gen Z is going to have a hard time getting rich

#49

Post by FractalHQ »

alexfromapex wrote: post #5

It seems like each generation is having more difficulty making ends meet ( https://theirrelevantinvestor.com/2021/04/01/the-generationa... ). Why hasn't this been improving? Is it because of regulatory capture by corporations?

In the US, it boils down to government corruption (lobbyists), and republican propaganda fueled wealth inequality. Aka Citizens United.
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