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Fed Says Millennials Are Just Like Their Parents, Only Poorer

bloomberg.com

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Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#111

Post by refurb »

nyghtly wrote: post #68
madeuptempacct wrote: post #12

Average expenditure at 30: $45,000 That's strange to me - is everyone living on debt? Factor in median household income for a fam with Bachelors degrees: $68,728 , which is $52,000ish net of tax. How are people spending that much? https://en.wikipedia.org/wiki/Household_income_in_the_United...

"Millennials spend huge amounts on rent, using up 45% of income made by age 30" https://www.usatoday.com/story/money/personalfinance/real-es...

"GenX adults spent only 41% of their income on rent by age 30"

Doesn't seem out of line with the previous generation?

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#112

Post by refurb »

enraged_camel wrote: post #52
twoodfin wrote: post #31

Earlier quoted context omitted.

Or on average they stayed in school longer than their parents, which tends to delay everything, including high earnings years.

Maybe, but it's worth noting that college is tremendously more expensive today than it was back when Boomers were attending it. We're talking an order of magnitude or more. edit: not multiple orders of magnitude

Multiple orders of magnitude? So 100x or 1000x?

I don't think so.

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#113

Post by piyh »

maxxxxx wrote: post #107

I think the big problem is that there are less stable paths now. Previous generations had a clear path to getting a house, affordable education and stable retirement whereas now you have to take on a lot of debt, gamble in the stock market and have to have some level of luck to retire safely. Any major health expense or company layoff may destroy your well laid-out plans and put you back to zero. I think today's life…

A lot of older people had stable retirement pulled out from underneath them with pension cuts

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#114

Post by mymythisisthis »

iagooar wrote: post #6

It's funny how this "generation" thing only quite exists (as far as I know) in the English-speaking world. There is no such idea of generations of people where I come from. It's hard for me to even grasp the idea of it. Who draws a line between generations and why? People do not stop being born, nor do they magically change because they supposedly belong to an imaginary generation. Am I missing something?

WWII. There was such a large group of people born between 1945 and 1950, after the war ended, that they all push through the system at the same time.

Woodstock music festival happened in 1969 right when everybody was in the their 20s or about to hit 30.

Then they all had kids at roughly the same time, the 1970s and early 80s. Housing boom of the 1980s. Lots of new kids shows that happened in this time period as well.

Now all of those kids are buying houses and having kids. Another housing boom.

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#115

Post by glup »

lucisferre wrote: post #37
klodolph wrote: post #32

Earlier quoted context omitted.

> It's hard for me to even grasp the idea of it. It's just an arbitrary label for people born in a certain period of history. These people generally have shared experiences that are different from the experiences of other generations. > Who draws a line between generations and why? Same people that draw a line between lemons and limes. It's sometimes a useful distinction so people remember it and use it. > People do…

> > Who draws a line between generations and why? > Same people that draw a line between lemons and limes I mean, I doubt it is really the exact same people who do this. At the very least it is a separate department that does the lemon-lime distincting.

Hi HN, are key limes lemons or limes?

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#116

Post by geggam »

beaconstudios wrote: post #23
iagooar wrote: post #6

It's funny how this "generation" thing only quite exists (as far as I know) in the English-speaking world. There is no such idea of generations of people where I come from. It's hard for me to even grasp the idea of it. Who draws a line between generations and why? People do not stop being born, nor do they magically change because they supposedly belong to an imaginary generation. Am I missing something?

I think it's based on the trope that teenagers rebel against their parents' beliefs, mixed with the idea of generational progress. So each generation of teenagers rebels against their parents' ideas that they believe are "outdated", and then supposedly grow up retaining this new framework of belief. So what was cool becomes uncool, what was progressive becomes conservative, etc etc. I think it's mostly nonsense thoug…

You say that but you can see it in many "verticals" the old Unix way being replaced by systemd and such

Containers and such arent new. We have had FreeBSD jails for 2 decades plus

What is new is the thinking that is a better way of doing things. Jury is still out on that :)

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#117

Post by JohnJamesRambo »

smnscu wrote: post #62
klodolph wrote: post #53

Earlier quoted context omitted.

You might be surprised. Ernest Hemingway, an avid drinker, coined the term "lime" so he could distinguish it from other types of citrus in the Daiquiri, one of his favorite drinks. He also popularized the term Lost Generation, generally regarded as the first generational cohort with a name, although the term was originally coined by Gertrude Stein. (Ohyyfuvg.)

Comment of the month edit: never mind, it's not actually true - gullible me https://en.wikipedia.org/wiki/Lime_(fruit)

It's rare that I see an argument won so perfectly.

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#118

Post by AsyncAwait »

iagooar wrote: post #6

It's funny how this "generation" thing only quite exists (as far as I know) in the English-speaking world. There is no such idea of generations of people where I come from. It's hard for me to even grasp the idea of it. Who draws a line between generations and why? People do not stop being born, nor do they magically change because they supposedly belong to an imaginary generation. Am I missing something?

> It's funny how this "generation" thing only quite exists (as far as I know) in the English-speaking world.

Not really, am from a Slavic country and we definitely speak of generations as well.

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#119

Post by antsar »

antcas wrote: post #67
klodolph wrote: post #53

Earlier quoted context omitted.

You might be surprised. Ernest Hemingway, an avid drinker, coined the term "lime" so he could distinguish it from other types of citrus in the Daiquiri, one of his favorite drinks. He also popularized the term Lost Generation, generally regarded as the first generational cohort with a name, although the term was originally coined by Gertrude Stein. (Ohyyfuvg.)

I hope this tidbit is true.

ROT13 the last line ;)

Re: Fed Says Millennials Are Just Like Their Parents, Only Poorer

#120

Post by [deleted] »

antcas wrote: post #67
klodolph wrote: post #53

Earlier quoted context omitted.

You might be surprised. Ernest Hemingway, an avid drinker, coined the term "lime" so he could distinguish it from other types of citrus in the Daiquiri, one of his favorite drinks. He also popularized the term Lost Generation, generally regarded as the first generational cohort with a name, although the term was originally coined by Gertrude Stein. (Ohyyfuvg.)

I hope this tidbit is true.

[deleted]
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