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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

#61

Post by AnimalMuppet »

achillesheels wrote: post #29
CynicusRex wrote: post #13

Earlier quoted context omitted.

1% of the human population has what, north of 80% of the world's money? If that's not some form of tyranny worthy of criticism, then I don't know what is. Most good fortune in the world comes down to luck and help of literally everyone else. Not wanting to share that wealth comes down to pure greed, ego, and ignorance. Veritasium – Is Success Luck or Hard Work? https://www.youtube.com/watch?v=3LopI4YeC4I

Prey tell, how is Michael Dell or Steve Wozniak a tyrant? And do you consider yourself lucky or unlucky in life? Your handle suggests the latter. I can attest I do not wish to share my wealth with those who are cynics ;) does that make me a bad human? Does it make me a bad human that I choose to cultivate myself further, exacting greater human flourishing in the process? Am I lucky to do so, or am I determined to do…

> Prey tell...

In this context, that's an interesting typo.

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

#62

Post by skissane »

flukus wrote: post #60
skissane wrote: post #9

Earlier quoted context omitted.

Where I live (Australia), the biggest issue is the massive bubble in property prices. Housing affordability has gotten a lot worse over the last few decades. Arguably it has produced a massive wealth transfer from the younger to older generations. I guess inevitably that is going to be partially reversed when those older generations pass on, and leave some of their accumulated wealth to their children. But inheritanc…

> I guess inevitably that is going to be partially reversed when those older generations pass on, and leave some of their accumulated wealth to their children By being tied up in property the timing of this is hardly ideal though. The costs in housing was paid when I was young, the transfer back will be after my mortgage is paid off and my main use of this transfer will be to fund my retirement. In turn I'll be relyi…

> What would be a better way (other than cash) to transfer some of this wealth when the next generation is younger and need it more?

Some parents give guarantees to their children's mortgages, or buy property jointly with their children. I think it comes down to a couple of factors (1) the wealthier you are, and the fewer children you have, the more sustainable this is; (2) cultural attitudes differ between different families (and between cultural/ethnic groups) in terms of whether parents ought to do this, or instead leave their adult children to fend for themselves.

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

#63

Post by [deleted] »

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…

[deleted]

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

#64

Post by [deleted] »

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…

[deleted]

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

#65

Post by [deleted] »

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…

[deleted]

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

#66

Post by tha0xb2 »

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…

>All financial considerations aside, Gen Z will probably be the most isolated, mentally ill, and least self sufficient generations in a very long time.

Pretty much. Generation Tidepod already has the highest incidences of suicidality, transgenders, "non-binary", and other mental illnesses.

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

#67

Post by achillesheels »

AnimalMuppet wrote: post #61
achillesheels wrote: post #29

Earlier quoted context omitted.

Prey tell, how is Michael Dell or Steve Wozniak a tyrant? And do you consider yourself lucky or unlucky in life? Your handle suggests the latter. I can attest I do not wish to share my wealth with those who are cynics ;) does that make me a bad human? Does it make me a bad human that I choose to cultivate myself further, exacting greater human flourishing in the process? Am I lucky to do so, or am I determined to do…

> Prey tell... In this context, that's an interesting typo.

Beasts of prey are self-sufficient animals. But certainly not all those with money are avaricious?

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

#68

Post by CynicusRex »

achillesheels wrote: post #29
CynicusRex wrote: post #13

Earlier quoted context omitted.

1% of the human population has what, north of 80% of the world's money? If that's not some form of tyranny worthy of criticism, then I don't know what is. Most good fortune in the world comes down to luck and help of literally everyone else. Not wanting to share that wealth comes down to pure greed, ego, and ignorance. Veritasium – Is Success Luck or Hard Work? https://www.youtube.com/watch?v=3LopI4YeC4I

Prey tell, how is Michael Dell or Steve Wozniak a tyrant? And do you consider yourself lucky or unlucky in life? Your handle suggests the latter. I can attest I do not wish to share my wealth with those who are cynics ;) does that make me a bad human? Does it make me a bad human that I choose to cultivate myself further, exacting greater human flourishing in the process? Am I lucky to do so, or am I determined to do…

I'm a Cynic, not a cynic: https://en.wikipedia.org/wiki/Cynicism_(philosophy).

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

#69

Post by wrfitch »

HDMI_Cable wrote: post #56
wrfitch wrote: post #53

Earlier quoted context omitted.

Hi, I'm part of Gen Z. Grain of salt, etc. You're being a little unfair here, implicitly describing an entire generation as overly materialistic, mentally ill, socially dependent children. Honestly, it sounds like the Gen Z people you know might just be heavy social media users, since people of any generation that use these tools poorly have the problems you mentioned. For those of us that don't use the standard soci…

> Honestly, it sounds like the Gen Z people you know might just be heavy social media users, since people of any generation that use these tools poorly have the problems you mentioned. Quite honestly, who around us isn't a heavy social-media user? I'm Gen Z myself, and social-media is one of those vices where there is no 'healthy' amount to have, like drinking or smoking.

It depends on what you consider social media - I check Twitter and HN a couple of times a day and watch YouTube videos for maybe an hour or so, but I try to be intentional and focus on interesting content rather than mindless doomscrolling, or viewing whatever an algorithm recommends. My friends aren't all the same, and some of them spend more time than they'd like on Reddit, Instagram or Tinder, but actively avoiding social media is a common topic of conversation at least in my social circle. Deleting the apps that want you to use them endlessly (Instagram and Facebook) has caused a noticeable improvement in my mental health, and I'm interested in pushing this further.

To counter your example, the mental benefits of experiencing a good whisky are worth the health detriments imo, but we can agree that chugging down bud light is terrible.

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

#70

Post by achillesheels »

CynicusRex wrote: post #68
achillesheels wrote: post #29

Earlier quoted context omitted.

Prey tell, how is Michael Dell or Steve Wozniak a tyrant? And do you consider yourself lucky or unlucky in life? Your handle suggests the latter. I can attest I do not wish to share my wealth with those who are cynics ;) does that make me a bad human? Does it make me a bad human that I choose to cultivate myself further, exacting greater human flourishing in the process? Am I lucky to do so, or am I determined to do…

I'm a Cynic, not a cynic: https://en.wikipedia.org/wiki/Cynicism_(philosophy) .

Find me a human ;)
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