Gen Z have 86% less purchasing power compared to baby boomers in their twenties
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Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#2This is the stuff that can cause or facilitate revolutions.
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#3Well, I spent my twenties (in the 80's) in school, or working for 30K or 36K/year. You can work out what inflation does to those salaries vs. what purchasing power gets you today. Anecdotal, yeah, but it's all I got. And albums cost $4-5 in the mid-70's and I did ok on $20/week for food and stuff in school.
And there was no internet and the only computers filled rooms (but were still fun). One did social interactions F2F, which might actually have been a little more expensive.
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#4This doesnt pass the sniff test.
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#5This doesnt pass the sniff test.
It does for me.
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#6Well, I spent my twenties (in the 80's) in school, or working for 30K or 36K/year. You can work out what inflation does to those salaries vs. what purchasing power gets you today. Anecdotal, yeah, but it's all I got. And albums cost $4-5 in the mid-70's and I did ok on $20/week for food and stuff in school. And there was no internet and the only computers filled rooms (but were still fun). One did social interactions…
> Well, I spent my twenties (in the 80's) in school, or working for 30K or 36K/year.
Ballpark the 80's as 1985 and that works out to 82,604.83 to 99,125.80, for the curious. What most people would consider an excellent salary in their 20s, probably (software engineers in the current market excepted, perhaps).
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#7This is the stuff that can cause or facilitate revolutions.
or just resignations
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#8Boomers in their twenties were mostly working. Gen Z in their twenties is finishing college, working towards a master's or even a PhD.
EDIT: No value judgments here. This is just a fact, people entered the active workforce earlier.
Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#9Re: Gen Z have 86% less purchasing power compared to baby boomers in their twenties
#10This doesnt pass the sniff test.
It does for me.
Absolutely agree. This is a piece about relative poverty in disposible income against current inflation and % of post-tax income which has to go to rent/power &c against truly disposable income.
I'm not in the cohort, but I still believe the model. Look to UK power bills, and Australian rents, and rates of home ownership since the 1960s.