It makes me so angry and bitter that I had been told all my life that if I go to school, study hard enough and develop a strong work ethic that everything will be alright and I'll be able to afford a home just like my parents.
You were told the wrong lesson. Here is the real one: "Spend less than you make and be well insured." How much you make is far less important than what you do with it.
My grandfather worked on the line at Ford for 40 years. Had 5 kids, a paid off house, 40 acres of farm land, farm equipment, vacations, cars, modern technology in the house (for the time), and healthcare. All that as well as a giant amount of money sitting in his bank account and a stay at home wife who generated no income…….Try that today working at a factory…….
Same, and then we are told that we are just lazy cause we can't do that same thing. And then they criminalize people for losing their house when interest rates go up and companies lay off tens of thousands of workers. Or when covid hit and everyone lost their income/health insurance during a pandemic.
@@ChrisJohannsen my wife and I make 160k a year total, still cant afford a house (and thus no kids) at 30. 2 medical degrees, chemistry degree, welders cert. Had a dude tell me "your priorities are skewed" because I have a dog. Apparently pet food and vet bills are why I cant afford a house. And not the fact that a house worth 250k 15 years ago, sells for 1.5 million now.
@Justin Williams It's just economical. I've got a mate what lives with his parents at 35. He's set to inherit the house when they pass (they had him late and are mid 70s). He beats himself up too, but none of us can control the economy. Him living there rent free (he's the housekeeper to "pay" rent) just means he can save for his own future. Which is what his parents want for him anyway. Certainly better than my situation tossing 2200$ a mont away on rent. You shouldn't beat yourself up either. Our parents bougt their houses in full, for less than 1/4th of what a down payment is now.
My father used to tell me that I have no idea how hard the economy is. He constantly talks about how poor he is, without grasping that he makes well over 6 figures a years, constantly vacations and goes out to dinner. My ma and her husband talk about being tight on money, but they own 4 expensive cars, a fancy motorcycle, and a giant house. It's the same thing with my girlfriend's mother. The all are living so comfortably but feel convinced that they have it rough for some reason. Blows my mind.
I mean your average American is the same way. People be on their IPhone in their air conditioned apartment crying about how poor they are while 90% of people in the world don't even have the luxury of a smart phone and air conditioning
@@brandond5963 the abnormal thing is that only in the western world are living standards declining from previous generations. Everywhere else things are slowly (or quickly) improving each generation
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $300K stock portfolio from decline is my main concern, but I don't really know which way to go.
Yeah, things may be hard right now, but I've come to realize both bear and bull market, recessions and economic boom, all provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
I agree. I've been working with a financial advisor since 2020, and I return up to 15k every month, and I don't even have to lift a finger. Although I also think the reason I make this much is because I started with significant capital.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Credits goes to " Vivian Jean Wilhelm " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
And let's be honest...at ages 65+, your mind starts to go downhill. You can't think or remember things clearly, you struggle with self control, and anger, and also emotional control as well. Also...when you're elderly and are in power for a long time, your personality can get corrupted by power and money. On top of that, and the mind going downhill..it's a recipe for disaster.
@kshamwhizzle I don't see what white has to do with anything if you go to Africa they have higher political systems where it's just old African men in the sixties to seventies holding on to power and has nothing to do with race and everything to do with pure greed
False the issue is they have been traitors for at least the last 80 years. The modern political and social order has to come to an end for anything to improve. It may also require loss of tech and industrialization. Like its not a coincidence this cabal all join young and are all connected and incestuous one way or another.
I worked the exact same job, through the exact same company for the better part of 5 years that my father worked. In a year or two, he was able to buy a home back in the mid 70s with just his income. I couldn't even afford rent and groceries in a one bedroom. He was always making comments like "You've got to manage your money better!" So I brought him my paycheck, and bills, and asked him to help me budget. He never again made comments like that, after seeing the reality in paperwork. He kept shaking his head and saying "Somethings not right with this" Yeah....I'm essentially working with 10% of what you had, and 5% of the opportunities you did.
And good of your father to at least state to you that he was confused after seeing the evidence. Most parents don't even want to hear the explanations because they see them as 'excuses' and won't admit their view of the world is no longer correct
Population boom and easy immigration increased the demand, while zoning and construction restrictions dwindled the supply of houses. The opposite happened to the job market, increased supply of workers, and technology bleeding off the demand for actual people to fill worthy jobs, kills the job market.
A Boomer Rockstars kid never became half the person their parents where. Thats the way nature intended it. Take the sun for example how come there are'nt two stars in the same galaxy that 9 planets orbit at the same time? Or be it Iron Maiden, MJ, Chaplin, Sean Connery, Queen Elizabeth, Trump, the Clintons, Beatles, Bruce lee, George Lucas or Schwarzznegger, Steve Jobs and Gates.. how come non of their Star Kids went on to become as legendary historic or successful as their Boomer Parents. 🍷Food for thought, Heck when you think about how non influencial and mostly inconsiquential the present generation is made out to be, you realise - Why we dont yet have something to atleast effectively replace the grand old mostly disfunctional United Nations or even the fre*kin, Oscars?
@@varunemani Pluto isn't considered a planet and another star system with 8 planets does exist. Also it's not so much that they don't exist, it's that it's difficult and time consuming to prove there are planets orbiting a star increasingly so if you're looking to see if there are more of them
I don’t blame them for taking advantage of the great conditions they grew up in. I DO blame them for pulling up the ladder once they reached the top then calling younger generations lazy for not making it to the top just like them.
Yep, like the video said at the beginning, boomers were very much in support of low cost college, housing, cars, medical care when they were young, but then voted in and supported politicians who stripped all of those things away when they got older. Boomers gave us salaried jobs instead of hourly jobs where you can get overtime, gave us increased college tuitions, gave us the credit score system, gave us the investor class, accelerated every negative aspect of capitalism by de-regulating earthing that would have controlled it, gave us multiple wars, the list goes on.
@sandponics The only reason you think we'll have nothing of value to do is because people have been tricked into thinking the only thing worth doing is making money. Perhaps now you'll understand why things like funding and support for music, and the arts and social sciences is important.
@@patland1762 Here in Australia the national broadcaster still has on file a soundbite of a young boomer student activist explaining why fully government-funded tertiary education was a right for all Australian students. That student activist went on to be a Federal Treasurer who announced that the nation in fact could not afford to provide fully funded education to our students any more - despite the fact that the younger generations are so much smaller a percentage of the total population than the boomers were and therefore the cost to the nation would be proportionately smaller than it was when the boomers were in university. My parents both got a university education. I dropped out, with a debt that I will never repay. My kids are getting trades skills qualifications. The ladder is long gone.
*guffaws is not one of my favorite words solely by sound alone so I never really use it but In your moms case - it’s warranted and I’d probably choke whatever I’m drinking out of every hole in my head if I heard that while I was drinking
I stayed in school, I said no to drugs, did extra curriculars, and WENT TO COLLEGE, and after all that I live in a dusty attic in a house full of roudy strangers I met on Facebook. Suffice to say I feel really cheated by life.
I remember sitting in a doctors waiting room a couple of years ago. I ended up chatting with a lady in her late 70s/early 80s. I ran a pub at the time (an industry where there is very little money to be made as all the pubs are owned by companies which let them out at extortionate rates and tie you on alcohol). it turned out she and her husband had run a pub back in the day too. Just a local 'basket of chips and a pint' deal. I was moaning to her about the state of things so she decided to give me the sage advice of 'making sure to buy a few properties' to feather the nest for my old age. The young receptionist must have overheard this too as we shared a look of disbelief. This old lady really thought it was still feasible to buy a few extra properties as an additional income source. it was terrifying to see just how out of touch she was with the current day realities.
My grandparents that lived in Arizona said the same. So did my father. Just buy some cheap houses and rent them out. Like dude me and my wife with full time decent jobs can't even buy 1 of those houses and property. This was only 15 years ago where you still could buy them with 120k to 300k. Now in my 30s those same places and homes are 500k to 5mil.
They used to be able to learn on the job, now you need a college degree. It makes me mad thinking about it. They brainwashed a whole generation into believing they need a degree to make good money, now plumbers and electricians are outearning college grads
I wish you just needed a college degree to get a job. Every job I see wants a college degree and 5+ years of experience for a junior position. I don't get why companies want that. Anyone with 5+ years of experience that is still a junior is not the kind of employee anyone would want
Funny thing, my friend is a plumber and I have a useful degree. I make nearly double what he does. Now if you're a degree holder who works at star bucks yeah I can see why you make less, but if you didn't choose something dumb like art history or English as your degree, maybe you'd make some money.
@@kattkatt6961 depends on region I guess. I know people making prevailing wage and per diem bringing home about 3k a week. Same goes for Crane operators with government contacts. Heck even hauling water in the oil fields okay 3k before taxes.
AND COLLEGE DEGREES MEAN NOTHING NOW...A PHD IS NEEDED FOR MANY, MANY JOBS! SO MANY PHD REQUIREMENTS AS LONG AS YOUR ARM ALL TO DO A BASIC POOR PAYING AND LOW END JOBS!
Do you favor continued immigration into the United States? That is what has ballooned housing prices. Building huge suburbs after WWII created a housing surplus and cheap rents and prices in the 1950s-1970s. High rates of immigration has turned that surplus into a shortage, greatly increasing prices. Did you, for example, vote for Trump in 2016 and 2020? If not, you have been getting what you voted for. Don't complain.
@@SeattlePioneer I didn’t really make my point straightforward in the other comment, I’m a moderate I have both conservative and liberal values, I’m saying that it was a joint effort between both parties not specifically one. Its not black and white bad guy good guy. I’m not attacking conservatives I think trump had a lot of good policies he just didn’t present himself well, and he also had bad policies. I enjoyed the economy while he was in office but it could be much much better.
@Monty Kronik Not just illegal immigrants. Legal immigrants have ballooned in numbers since the 1970s and have turned a housing surplus into a housing shortage. Illegal immigrants contribute to that as well. Present estimates are that twelve million people reside in the United States illegally. Do a thought experiment: Imagine that they all disappeared tomorrow. What would be the result on the availability of housing? QAnd that doesn't include millions of legal immigrants and their children that have ballooned the population of the United States for half a century. I imagine that Democrats and liberals are looking forward to a population of a billion people in the United States by the end of the century. Assuming that is true for a moment, what would be the impact of that not just on housing, but on roads, hospitals, schools, wage rates and such? Imagine every new immigrant entering the United States coming with a bill for $1million in new investment to create an American style style of life for that person. Alternatively, if we don't pay that $1million bill for each immigrant, how will that water down the availability of housing, health care, education, transportation and such? Isn't that what has been happening over the last half century? We have FLOODED the country with immigrants beyond what the infrastructure we have or have built can support, and everyone suffers as a result.
Homes are literally going up in price 100k every year. Houses that were 230k last year are 330k this year. If your society doesn't have affordable housing, your society is a terrible one.
That problem is because once people buy a home they start voting locally to block further developments and protect the lifestyle they just purchased. We have plenty of land, but can't get things built on it because of lifestyle opposition. Something ultimately has to give, either employers need to embrace remote work so that people can afford to move away from major job centers or they better accept that costs for talent will go up continuously in line with housing costs.
@@SandyFischler The second a house goes on market, actually before, these huge companies like BR get insider information to purchase these homes. If a home DOES get on the market somehow and it is affordable it gets snatched up by real estate investors, house flippers (who make the home unaffordable after fixing it up with tacky modern garbage), landlords, etc. People use their leverage to purchase multiple homes and rent them out for high monthly prices. The amount of homes that never even make it to the market is close to 90%. It's insane and this cannot go on. I NEVER hear useless politicians talk about this, but EVERYONE needs a home.
Ten years ago when I was in college our professor was discussing this with us. She was telling us that we are the first generation to struggle more than their parents and that her generation (boomers) like to say they had it rough. She straight up told us it was a lie because the economy had spoiled them. Now society is catching on.
@@belkyhernandez8281 I'm not sure that's actually true. You're the first person I've ever heard make that claim, and when I searched google for Dr. Belky Hernandez, I couldn't find any of your peer-reviewed articles, so I need a better source before I'm inclined to grant belief.
There is another problem with the idea of wealth inheritance. My boomer father recently died and donated all his wealth to the political parties which gave his generations every financial advantage. The children, grandchildren, and great-grandchildren whose future he stole received nothing.
This reminds me how my grandma with a teacher's salary from the 70s has been able to travel more times to Europe than I will ever be able to drive around the country.
I know a man that travels monthly all around the world and to the most expensive parts of Europe on river cruises, and he also has a teacher's salary/pension. How much must he be getting to afford that? Eight thousand a month? More?
@@parrotshootist3004 J Peterson has a professor salary which is generally two to three times a teacher's. Also he happens to not just be a proffesor and has other forms of income
Coming from a Gen Zer who just started college it comes down to this… we already had a growing sense of cynicism and nilhilism about society that sort of cemented it’s self during the pandemic. Why give your life and energy so much that it drains you to this job that doesn’t value you. If you died on a Monday, buy Tuesday you will be replaced. And some will say that that is simply life but it’s disconcerting. You give up your entire life in hopes that you’ll receive good benefits so you can die old and happy. As for us, reaching old age seems like a fantasy.
Oh yeah that's a huge agitation for me, people acting like going to work is some kinda religious experience, Bro as someone who is a fan of work ethic I'm not delusional about it ... Everything you said combined with "what am I contributing too" The way it's supposed to work is the people at the top do their job and look after you while you go do the smaller jobs this leads to everyone's needs being met ... In reality through the government and media mock you on a daily basis and make it clear you are powerless and they will do as they please Where does the motivation to work hard come from ? Why should the janitor care if the ceo doesn't !? You need to give people more than a paycheck if your asking em to grind like that ...
@@gtt8428 if people in general but especially those in charge stopped treating employees like they are expendable maybe this problem wouldn’t be so bad. from the outside looking in as people who are just starting out in the workforce, we don’t want that life where we wake up every morning to chase a check just to attempt to survive until the news of the month and hope that one day you will reap the benefits in the form of a sad little social security check. I’ve heard older people also say that my generations problem is that we rush into things, which is true. we’ve grown up seeing them struggle in hopes that retirement will grant them some sort of peace. many of us can’t picture ourselves living that long so we want it now. what’s the point of the grind if you’re basically grinding ourselves to nothing but it’s supposedly contributing to this great nation
What’s the real difference between you zoomers and the boomers? They started with nothing and worked for everything they have. You started with everything yet you still complain.
Politicians are also old, so they don't even understand younger generations. Even if they vaguely remember what it was like to be young, it was a completely different world in every way, so their experience means nothing today. Also, economic hardship and poor outlook discourages having children, which just reinforces the pattern. That's why we are facing population collapse.
Here in the US our President and the leaders in the Senate and House are all late 70's or early 80's. It's total BS. We desperately need max age limits for elected office, along with term limits.
Make politicians live like the average Millennial for a month! Budget, here’s the take home income, there’s rent, oh no sorry daddy can’t help you. Lol.
Yeah our modern civilization will collapse because of that. Either we keep chugging along and not fix the problem and eventually nobody has children so we’ll all be too old to reproduce so we’ll go extinct or our young population will be too small to continue modern civilization and we go back to living like medieval peasants again.
This is a fallacy. An age-old fallacy perpetuated by Pop culture (movies and music and the like). Old politicians understand the younger generation - they just don’t care. And I really mean that. Being in politics is about power, and they have the power now. It’s not that they don’t remember their youth it’s that they just don’t want what they have now taken from them. And we in no way are facing population collapse… That’s just hyperbole. Losing population would probably actually be good for this country, then we’d have to do what this country was founded on in the beginning- Open up the pathways for immigration. New blood is always good. We are a country of immigrants after all.
Many of us here under age 50 have more education and “skills” and “experience” than the prior Gens, but they had an easier time working the same hours and acquiring the same basic things.
It's really funny when the guy intervieweing you expects you to have all sorts of degrees, then just to make small talk you ask them where did they get theirs and he just tells you "Oh no I just started working here at 15"
Something I’d like to share is that what allowed baby boomers to thrive wasn’t them, technically, but the generation that grew up in the Great Depression and WWII: they made all the policies to ensure great life for their children because they knew scarcity, and that’s what made the boomers early life so successful. When they got their chance, they just screwed over everyone after them because they believed the prosperity was forever; they grew up like that
Dude exactly. Their parents went through real hard times and wished for the best for their children. The boomers also lived through one of the best times to be alive in USA/Canada. Less global and local competition. Industries back then aren't outsourcing their labor in cheap countries or sponsoring cheap immigrants to come and work. This made their employers more willing to accept their boomer worker's demands and respect their rights. Then there's the cost of education. It was way cheaper back then relative to the economy. But thanks to student loans, it became very expensive now as educational institutions took advantage from the infinite money being loaned by the government. Also the cost of living had increased. Prices keeps increasing and salaries are struggling to keep up. We also need more to survive the modern world. Everybody needs atleast a laptop and a mobile phone with paid subscriptions to do anything.
Harsh times make strong people Strong people create prosperous times Prosperous times make weak people Weak people create harsh times - cant remember who said it 😳 plus probably paraphrased
Certainly not! We listened to that younger generation that was APPALLED by "white privilege." We didn't want to burden you with that which you you found so offensive. So we keep spending our filthy lucre on ourselves so as not to offend you young folks.
@@SeattlePioneer I’m not sure you know what white privilege is? I mean if that’s the case just donate to charities that fight racism and support black people. Also why did you copy paste the original comment? It’s not that far to scroll up.
During covid 2020 I never once missed rent, or was even late on it. Although the whole shutdown crushed my small little business for basically most the year, I just choose not to be that person that uses it as an excuse to not pay rent. I lived off my savings while my wife was able to at least work from home during the shutdowns. Fast forward a couple years, my landlord reached out to me regarding our upcoming lease renewal. She prefaced it with saying "thank you so much from the bottom of our hearts for paying rent all throughout the pandemic" and then she proceeded to let us know that rent will be going up 10%, and she wouldnt let us sign more than a 1 year lease, probably so that way she can raise the rent again legally. I was shocked that doing the right thing got me this result. My neighbor knows the landlords, and he told me that not only do they own the house that I am renting, they own 2 other big homes in a very nice part of California, and also 1 beach front condo as well. I decided to try and reason with my landlord, and asked her to reconsider the rent hike, especially because of inflation, and how I am still kinda playing catch-up from my 2020 losses, especially since I wasn't even able to secure unemployment benefits for myself during that time. She stood firm in her decision, stating that my wife and I are starting out our lives(we are esrly 30s), whereas her and her husband are worried about their retirement. On top of all this, they are both lawyers. It looks like greed to me. I've realized more and more that these boomer types are basically holding wealth hostage in a way. When is enough, enough?
Blaiming a whole generation is not the problem as stated at the end of the problem, the problem is all the competitive jobs have left for countries that don't tax as much as the US. They're also leaving China because China has started taxing them as much as we do. Another problem is legislation that completely bans entire factory based companies from existing here. Even though thanks to technological progress modern production methods do produce zero emissions and no Green House Gases. Also since they own property in California they probably are paying the government in taxes the equivalent you pay them. There is a reason people are leaving California and states like Pennsylvania and New York in droves.
My best friend lived in New Zealand for the last decade or so, and they've had this problem to an even worse extent where people making over $100k a year were not able to afford housing because the boomers all owned several and were unwilling to sell for anything but massively, massively outrageous prices. This then led to a very popular saying that boomers would throw around "maybe you'd be able to afford a house if you ate less avocado toast" . Because avocados are somewhat pricey ($6NZD per) as if that would somehow solve the lack of housing available and the ones that are available being horrendously overpriced. As for your rent problem, i feel for you, that's tough. We have rent control here in Ontario, Canada. Landlords are not allowed to increase rent by more than 1.8%/year and it is the only thing keeping some families in houses. Mind you it's not perfect and seedy landlords often try to evict or get tenants to move out under false pretenses such as renovations or family member moving in. so they can then bring someone new in immediately after the other person moves out with no restriction on how much they can increase rent by
Hiring practices are ridiculous now too. The job that required a high school diploma when boomers were coming of age now requires a master's degree with those same boomers at the top. They don't want to train anymore or give new graduates a shot, unlike the generations before them. Education inflation is a real issue, and no one should have to do so much free work before someone deigns to pay them under market value as a "junior" employee for a few years.
Not only that, but the price of education as well Back in the 50s you could become an airline pilot on less than $10k I'm going to be paying nearly $120k once I finish my CPL training, then another $40k on top of that if I want to upgrade to ATPL
Don't forget that the now low level job (entry level jobs) require a minimum of 2-3 years of experience. Even if we had the educational requirement the experience requirements is rediculous nowadays. A lot of my old college friends couldn't get a single company to give them training even for FREE, companies now don't want to train new people and they don't want to hire someone to do an "on the job training" or lower their experience requirements, it's really frustrating having the will and ability to work and find out that bariers are placed on purpose infront of you.
@@mimosakura795 Currently having that problem. With my education, I can work as a curator, educator, designer, researcher, conservator etc in museums, art galleries, natural history museums, auction houses, nature reserves, antique buildings, monuments and zoos. But every job requires at least three years of exsperience. They even often speficifcly ask for people who attended my college, as we're the only one in the country that teaches the skills they desire. I've joined at least seven jobhunting sites now and actively seek for oppurtunities and frequently ask around as well. No luck so far yet though. I did manage to apply for a few jobs, but all were rejected. I'm currently working on some personal projects and doing some freelancing in between for small things. I got all the educational requirements and even some other impressive achievements on my resume, but its the exsperience entry that kills it.
@@megadracosaurus yup, this is the maim thing that's hindering the job search market not to mention other minor things. But the experience requirements are the main thing that's stopping youth from getting actual good jobs. Adults would just complain "why can't you get a job like I could 20 years ago? Like if I could I would!🙄"
Just don't lump us in with them. We were the 1st generation to do worse than our parents, even though the younger ones have it even worse. - Love, Gen X
I agree with you in general, but I would argue that much of the Greatest Generation had the misfortune of entering the job market during the Great Depression. I know my grandfather was less prosperous than his father had been. I think the IT companies tend to keep their offices in “hip” trendy areas of the country instead of spreading them out to areas with more affordable housing. Edit to add: I am also Gen X. I agree our parents had more opportunities and stay-at-home parents.
@colestaples2010 You appear to be some kind of self-victimized troll, making the same blamey comment on many channels. I was a college grad who couldn't find a job with health insurance till my 40s. Difference is, I didn't dare ask or expect my parents to help. Our parents just didn't do that. Stop blaming large groups of others for your malcontent.
I think there's a divide in Gen X, with some being closer to boomers and living a boomer life (just look at all the prominent TERFs who are well off and gen X) and then there's gen Xers who got late to the party and have to sit with us millennials. You might belong to the second group and in that case, have a seat, we see you, buddy.
I remember when my parents could buy a full tank of gas, a weeks worth of food and pay all the bills while having enough money to treat me and my siblings to a few bowling games. Nowadays, I earn the same as my father did and can’t even afford enough money for food.
What sucks is our parents were born and raised to think it is normal to move out and live on your own when your 18, but they don't account for the changes in our lives compared to theirs. So to have those high expectations on teens who live in a fucked up economy is really tough.
They still had factory jobs that paid liveable wages to people regardless of education level back then. Assuming of course, that your parents were either boomers and/or older Gen-X like mines.
That might be true for some countries, primarily the US, but that isn’t the norm everywhere. Lota of children remain with their parents until they can afford a home or get married.
Then people wonder why our generation is so depressed. Most of us will never be able to afford a house, will die before retirement since it keeps getting pushed back and the few who live until there will already be full of health problems due to overworking and will live in misery. I already saw this happen with my grandma who is 65, raised her 3 kids alone, worked a lot her entire life and she still lived in poverty and still does. She has to choose between her meds and food every month.
@@jonnyspeed8974 You don't know anything about my family, so don't come here with your stupid assumptions about me. We do help her paying the bills, food, meds but it's still not enough and we are all poor so there's a limit on how much we can help. Plus she's very stubborn and more times than not doesn't want any help. If you can afford to always help your family good for you but we can't.
You can, you're just spoiled. You all want to start at the finish line. You want the $500K+ house NOW. My parents and in-laws all started in rough neighborhoods with crappy, inexpensive housing. They kept working, saving and moving up to new and better houses before they died.
My great grandmother is in her early 90's, and for about a year she was staying with my family with me acting as the primary caregiver making her food, ensuring she was comfortable and that sort of thing. We would often talk and she really loved to tell stories. One of the ones that stuck out to me is that her older brother brother served in the Korean war, did his time, came back and needed a new job after getting out of the army. According to her, her brother had skills in carpentry and was able to walk on site at a construction site, talked to the people there, immediately got an interview with the on-site manager and was hired on the spot. He worked at that company for over 30 years before retiring with massive benefits. She had no clue why I was and am having so much difficulty finding a good career, because in her eyes it's still as easy as walking up to a business place and getting hired because that's apparently how it worked 50-60 years ago. I'd never wish ill on her or her brother but the amount of times I had to hear her talk down to me like me being unable to find gainful employment was because of my lacking morals or a lack of effort was at times infuriating enough I had to just walk away because that was less disrespectful than risking retaliating to those comments. The mental difference between the generations is staggering.
listening to those stories all while you basically keep her alive and comfortable. that's so blatantly ungrateful of her. please keep yourself safe from future critisism and mockery! 🙏🏻
My mother was born in the early 50s and I was born in late 80s. When I started to look for job when I was in college (late 2000s) she kept saying I wasn't getting a job because I was lazy. i shoud print out CVs and go knock on doors. While I had sent dozens of CVs by email to actual job offers.
The day my Dad turned 18, he moved to Chicago, he applied and got a job working for a Railroad company. Had no experience working with trains outside of riding them. All he needed was a HS diploma. Nowadays, you need 2 years experience just to be a cashier.
You've brought up one of the 2 reasons why usa has so much poverty...low wage work. A high school diploma was a ticket to the middle class. Now a high school diploma gives you access to minimum wage jobs.
it actually costs more to drive to and from a minimum-wage job now than you'll earn *working the job,* even 10-12 hours a day, if you live in most states. this means unless you're lucky enough to somehow live close enough to the job where you can get there on foot, or pay for public transportation (which itself is catastrophically expensive now) you'd literally dig your own financial grave trying to work part-time for low pay.
As a member of Gen X one of the things I've observed in the Baby Boom generation is a tendency of Boomers in the highest earning and most powerful job positions to not retire. This is effectively blocking younger people from moving into these positions before they reach retirement age.
@@desertmoonlee6631 U.S.A = merica the great...... U.S.A. is slowly losing its relevance on the global arena. Actually the slide began after humiliation in Vietnam.
GeoPolitics fwks all humanity. You are not special. Then again your country elected a grifting reality TV fellow who can't pay taxes or abide by regulatory findings.
In Mexico its pretty much the same: wife and I (shes a psychiatrist and Im a aesthetician) are paying mortage for our own apartment and were barely making it, my life long friends are, on their majority, also professionals with degrees, but some living with their parents or RENTING a department (not a house, department) with other people. Living today is so hard and so expensive.
My parents were able to buy their home for $91,000 AUD, my fathers wages at that time was $60,000 per year as an electrician for the Navy. That same house is now worth $800,000 and that same job still pays $60,000 per year, and then my parents wonder why I am not getting married or bothering going into debt slavery just to buy a tiny one bedroom house in the middle of no where.
Show them the math. Lay it all out, explain your concerns about being able to support a family, and ask them exactly what they think of it. Maybe this will give them an idea of what you are up against.
My husband and I are older millenials. We did well in school, both of us getting 4.0 for associates and bachelors. Worked and paid for our bachelor's degrees out of pocket while starting a family....my husband got masters (with a loan less than a used car) and we still cannot afford a house. Mostly because i stay home with our kids. The schools in our area are so bad, their scores so low and the kids are so uneducated, we couldnt justify me working rather than schooling the kids myself. We chose the kids education over a house. We live in a 800 sq ft hunting cabin with no bathroom (outhouse and sink baths). All of this was or choice. We stand by it. My boomer father says i married a loser because we dont have a house yet.... the audactiy of that generation, and they call us entitled and lazy.
@@SlumberBear2k Slaving away 13hrs a day in the summer heat and winter freeze is not fortunate. Choosing to not have children till I was established is not fortunate. It was just decisions that were made properly. Most people lives suck because of bad decisions. Get mad about it if you want.
you need to do an addiion you build yourself to get indoor plumbing at least-thats how our parents parents ended up in multibedroom homes with indoor plumbing they tacked on one room at a time
Another important thing to note about the transfer of inter generational wealth is that for many people, much of the wealth they may have been planning on passing down to their family will be eaten up by the healthcare industry during their end of life care especially. Assisted living facilities and hospitals are relentless when it comes to squeezing money out of the elderly.
Exactly. People live longer, which eats up more of the potentially inheritable wealth (esp. with increased healthcare costs as people age). And then when it is finally passed down, the people inheriting are often older as well (in their 40s & 50s), so it still doesn't really help the 28-year old first time hopeful home buyer.
I live in Romania and here most of us have the reverse situation: dirt poor boomers and millennials who are doing better than their parents, but not good enough to keep up with the expensive lives we live today. So we're left with this conundrum: If I'm in my thirties, how do I afford 1-2 kids while my parents are aging and can't cover their expenses. We're basically sandwiched between the financial needs of the generation before us and the generation after us. Many can barely take care of themselves. Others are not having kids so they just support their aging parents. Others neglect their parents to focus on their kids. And then there's a minority who earn well enough to do both.
More than that, you could fund everything so nobody is poor and everyone is living middle class, and fix the economy if you had a dollar everytime you heard that!
The problem of a millenial generation being strained for a home isn't just a western or chinese problem, its a problem in the rest of the world. Here in the Philippines, my siblings including myself still live in our family home even they are in their late 20s now. The reason: expensive homes due to high owned residential areas and purchasing power outpacing the income. It also became a hindrance to start families.
Hindrance to start a family, interesting point. It does seem like a big sacrifice of time and precious resources, all to give a copy of you to do the same. There doesn't seem like there is a compelling reason to start a family in the modern world.
Here is USA the smart young people, including married couples, moved back in with parents to get out of debt. The rest are living on credit in massive loans ($100,000+++) or already debt free. Lots of people get rejected from marriages or relationships due to massive student loans. PLUS recession is incoming. PLUS Buying a home now means competing with corporate real estate firms offering big money CASH for family homes. Yeah boomers had less worries
Both of my parents fought viciously with their siblings over what my grandparents left behind. They then told me very directly that they were not leaving me anything. If that isn't peak boomer I don't know what is.
The greatest generation is highly overrated. You can see how they also created some of these problems. But regardless, Boomies took things to a whole other level and cannot simply blame their parents or anyone else for it.
Im a milIennial and I work in a field where I have to go into peoples houses, millienals always treat me with respect but boomers always give me so much disrespect. You can see whos really entitled and spoiled rotten and whos not.
I’m a gen z and I work in retail. And not once have I been verbally assaulted by anyone in my age group (I’m 25) or near. It’s always the people over 50 but yeah we’re the disrespectful ones 😂😂😂
@@bansheewhiskeysays the boomers who challenged Vietnam and will speak poorly about Reganomics while also benefitting from those policies. Also, the “greatest” generation is a fallacy of our grandparents who basically just cleaned up what the ruskies died for, not fighting nearly as hard as the Eastern front but want to be seen as they did all the heavy lifting in WW2. Boomers and their parents will always pat themselves on the back for accomplishments handed to them while belittling their children and grandchildren. Boomers are the more narcissistic generation, love themselves and hate anyone not them.
Millenial here. Yea whenever someone has to enter my house to do maintenance or something I always just let them do their thing, bother them as little as possible, offer help if needed, and offer something to drink if they want.
They've been poisoned by lead, its noticeable in a lot of patients I treat. I stopped considering them as humans and it gets a lot easier to work with them. Barking dogs and squealing pigs the lot of them
@@spydude38 'the only thing stopping you from success is you'. Anybody with half a brain knows that! Those of us with MORE than half a brain, however, realize that those words are only ever spoken by people who were born priveleged and/or got really lucky. Success is 50% connections, 40% Luck, and 10% hard work. Stop giving yourself so much credit.
Agreed. They are just a bunch of narcissists who want to hoard everything and give themselves greater security. They think younger generations are selfish and entitled but I honestly think it is them that have these traits.
The generation that ate well- life is like a buffet. Left the rest of us to fight over their scraps and crumbs. They didn’t even bother to clean up after themselves.
The worst part is the entitled boomer who ice skated through life, then says that they aren't saving anything for after they're dead because "they want you to make your own way", even when their own parents died and left them everything.
@@jsebby2284 The sad part is boomers like you who cope and pretend that I don't know people like this. Just look at Bill Gates, who is going to donate his entire fortune after his death, leaving his kids nothing.
You are so friggin delusional. I lived in the suburbs yes, but my parents couldn't even pay for my wedding let alone leave me an inheritance. There was such a thing as being called house poor. Owning a home in the suburbs that you could barely afford. BTW I live in a Hud subsidized 55+ community on my social security alone. Far away from the suburbs of my youth. Get real.
Born in ‘97 so I’m on the cusp of gen Z and millennial. I graduated with my mechanical engineering degree right in the middle of quarantine. It took me 3 YEARS to find a job where i could even use my degree and I am not even paid enough to cover my debt from school. Everybody thinks i should be making so much money because of my degree but I simply do not because now an “entry level” Job is 5 years of experience. Something is so severely messed up.
@@LumTheAlien What makes you consider yourself a biochemist? The title or the degree? (serious question, I have my masters now but its not in my title and my mom/sister just tell everyone I'm a biochemist when I feel like I'm not)
"Kids these days have it so easy" No, they don't. And even if they did, THATS THE POINT. That's why you have kids! That's why you work hard, so the world you leave behind is better than the world you were born into!
I saw a story of one old man who was instantly radicalized and realized how much worse we have to live when he heard people my age ask what we want to do with our future or what we'd do with a large sum of money and...our dreams for our futures were the same as their parents who survived The Great Depression. Home ownership. Not being in debt. Able to afford having kids/pets without starving. Only having to work one job. Being able to afford to take a vacation. All these things that just seemed like an absolute given that other generations never had to question if they could afford...we DREAM of achieving before we die.
Hence why i invested alot of time, energy, effort into living outside of the usa when the time comes. it will allow me to have the lifestyle i want simply b/c the cost of living will be much cheaper. granted, it could be too much of an inconvenience, sacrifice, etc for some...but Ive done alot of traveling to become familiar, comfortable, etc in various places in SE Asia, and Mexico (havent been to any other Latin Amer. countries yet, but im certain ill be able to adapt quite will given my experience).
Why you POOR BABIES! Lazy good for nothings, is what it sounds like. It's not at all unusual for men to work 60-100 hours per week at jobs, and to earn the income they need. And men may not take vacations for YEARS in order to accomplish the goals they have set out for themselves. WOMEN on the other hand, quite commonly work minimum numbers of hours. Why bother working more? Some MAN is expected to provide her with all the things she wants. That's not true of all women of course. But especially after having children, women feel no shame about demanding paid maternity leave for months ----years even, when husbands may well be scrambling for overtime to fill the hole in the family budget women have created by leaving the labor force ----permanently, quite often.
My parents who are both in their 70s both were able to retire from their very blue-collar public utilities jobs in their 50s. They both get substantial pensions and each own massive, expensive homes. My Mom who never made more than $17 an hour at the peak of her career now drives an $85k pickup truck and spends all her time traveling. My parents are burning through their wealth and I don't expect to see a penny of it. Buying a house in those days was so easy that my Mom boasts that she had never had to rent. My parents were home owners before they were 20.
@@rockingredpoppy9119 The irony of you posting a typical apathetic, selfish boomer comment like that on this of all videos is hilarious to me. You're totally incorrect but thanks for the laugh either way.
I find it problematic that so many people are college grads but hardly anyone knows how to do anything practical. There is a critical lack of people with basic skills in carpentry, electric, plumbing, gardening, etc. We need to encourage people to get technical skills at two year programs. Last month my refrigerator's icemaker broke. The guy charged me $300 to fix it - in 30 minutes. That's $10 per minute! Meanwhile my neighbor got a degree in art history. He works as a pizza delivery driver.
I saw a news clip from Australia about this. A factory manager complaining that too many locals want those 'work from home jobs'. You cannot run civilisation with everyone trying to take the easy route.
Also consider the effect on long term growth; without the security of owning your own home, fewer and fewer people are going to start businesses or make anything but the safest possible investments. Hard to start a business in your garage if you don't have one.
I'm unemployed but I'm lucky enough to run a small etsy shop using my parents' garage as a workshop, and while it isn't great, it's a work space which is far more than any of my peers have. I'm scared of losing that when I move out simply because I'm probably going to be moving into an apartment that doesn't have a space where I can spray paint without worrying too much about overspray or even just a hose to rinse out silk screens. I don't exactly enjoy living with my parents but the only affordable alternative seems worse than what I have.
Owning your own home doesn’t provide security. Renting is the most appropriate option in most cases and is much less risky. No liability, no maintenance or repairs, no regulatory compliance, no rates paid etc
@@williambonac8157 Where I am from apartment prices double in the past 2 years. The owners can kick you out whenever they want... And if you can find an apartment nowadays that isn't a piece of trash with mice and mold, you are more than lucky.
Also in a world, where several global supercorporates own everything and push every small business out due to their advantage of large scale production economics... More and more people work for one billionaire, while live in one of 1000 houses owned by another billionaire...
My boomer parents just don't understand why it's so hard for younger generations to come up. I remember my first job I was making like $25k a year. My mother just "didn't understand and was disappointed" why I wasn't buying a house and wasn't married yet????? They aren't a learnt generation. My dad was a high school dropout and my mother had an associates degree. They owned 5 houses and traveled all over the world.
Why do you need to buy a separate house if your parents own 5 is what I want to know if I had the wealth to own that many houses I’d be happy for my child to live in one of them
@@sirsurnamethefirstofhisnam7986 not HIS and not MINE. Glad you have parents that really love you and didn't just pop out kids because it was the "cool" thing to do at that age.
well, he was wrong (not to mention unoriginal) to say that. But wisdom is not wasted on the old, or anyone else -- wisdom happens in many ways, at many ages. And sometimes doesn't, which seems to be that older guy's case.
All you have to do is have a chat with them. Unrealistic, self-centered, entitled, inundated and petty. It pisses me off that they cannibalised their own children and still hold power over us and exploit it without hesitation.
I've been telling my parents this for decades. The greatest generation sacrificed for the baby boomers, and then the baby boomers got spoiled and raided everything that was left.
Actually boomers didn’t grow up with much, they faced the Vietnam war draft, had several recessions as soon as they start their careers, hit massive inflation in their prime, had ultra high interest rates, and when they had kids, they spoiled them, especially kids born in the 80s and 90s. These kids sucked off their parents as long as possible, and now these children in adult bodies blame their parents for everything they are too lazy to achieve . The entitlement is unreal! Millennials have no clue how good they had it, and the generation that was once cocky when starting their careers, are now feeling the pain, and instead of manning up, they whine like little babies and point the finger at their Mom and dad. Sooooo pathetic! I have lost all respect for millennials, and GenZ is even worse. Sorry, but you folks never grew up. You are adult children.
These days in the US, there are a lot of parents being convinced of the idea that placing hardship on their children somehow makes them better people. It's somewhat popular to donate your money to charity upon death instead of shifting those finances to the younger generation for example. Furthermore, parents tend to hold onto their wealth with an iron grip until death. If parents used their excess wealth to fund their children's early lives, then this transfer of wealth would be much earlier and give younger people the stability needed to fuel an economy. Sadly, boomer ideals are directly contrary to what is healthy for an economy (least of all their own children). This really makes the future look pretty bleak tbh.
Many older folks seem to believe in some kind of social darwinism - that if you can't make it, you don't deserve to, that being cruel and uncaring will make people strong, and not, you know...cruel and uncaring. If those parents expect their kids to care for them in their old age, they're in for a shock. The less extreme view is that our society is meritocratic, which isn't as sinister, it's just untrue.
What’s even worse is that their greatest gen parents gave them literally everything in support and then boomers decided their own kids shouldn’t get the same treatment. if you look at school costs it is literally better to have your parents to have no money (bc then u get fed loans) than have parents with some money who don’t pay towards it. it is legit a disservice to not pay for kids education if you can. the greed of boomers quite literally will doom their children to poverty esp when there entire inheritance is used on 2 people in assisted living for 5 years
My Dad figured it out maybe five or ten years ago. I sat down and did a job search with him. I showed him my wages vs. mortgage costs. He loves math. He started going over property taxes and fuel costs and food costs and at the end of it he was trembling with anger and then finally he beat the table with his fist once and left for a drive alone. He then adopted a new policy called "giving with a warm hand". I already had at least half of my inheritance doled out to me as cars, assistance with travel to new jobs, assistance with my kids. Boomers aren't evil. They just don't understand what they did.
@@theviolator793 I'm truly glad you had a great dad. It's true that boomers aren't all evil (some kinda can be depending on how you define evil) but it's their unwillingness to understand that really kills the world. Actually there are a lot of boomers who genuinely believe, and cannot be convinced otherwise, that they were just incredibly hard workers and that everyone else is lazy or worthless. Many parents were accidentally abusive and their unwillingness to understand goes hand-in-hand with their inability to face the part they're playing in increasing suffering. It's more convenient to look away even if you know there's a big problem. If you try to explain the issue to them, they often tend towards avoiding the topic. Egoism is a cornerstone of boomer culture and many parents genuinely want to believe that they're doing us a favor by withholding love and support of all kinds.
@@theviolator793 that’s awesome man. It’s just I’d say the boomers at the top knew what they were doing. It’s just people like your father that we’re trying to be decent people and others ruined their kids future. It’s sad but I’m glad to hear a story like yours.
I have a Boomer neighbor who owned a construction company before he retired. He constantly complains about the “good old days…” but immediately follows it with surprise at how millenials can stay sane in today’s economy.
At least that guy doesn't sound unhinged and out-of-touch. He understood that the good old days are not the days of today and the newer generations are fucked.
@felobatirmoheb4884 my Grandma has said for years, and I hate to say she's right, we need another major war to reset this sh¡tshow, we don't need McMansion's, we need the little wartime houses like they built during WW2.
@@braydons5623 with current technology, and geopolitics, the only way to have this 'major war' is for the US to face off against a near peer. Russia has shown itself to be a paper tiger, that leaves China. It would not end well for either of us, we would not have a golden era of post war prosperity like the late 1940s.
I also just hate the general lack of empathy amongst the boomer generation. Not even towards the economic situation, but just life in general. Most boomers truly care about nobody except themselves and their family. And the few boomers who do care are too late and outnumbered to do anything about it. I believe almost all of the issues with our modern society has some roots stemming from this inability to care for the well-being of all living people. but more importantly, their inability to care about the future of human civilization beyond their death.
Spot on. I’m a late boomer/early gen-Xer. The boomers are the last generation to benefit from now defunct socialistic policies that helped create and enrich a robust middle class: the boomers believed that what they got was due solely to their own efforts (a lie perpetuated by right wing propagandists) and they fell for the political bs that has lead to policies that have destroyed the middle class. And they also let global warming go unaddressed: that will devastate future generations.
Their bloodline will die out eventually despite their best efforts in only carring aboutvtheir families...afterall there are to future generations to be born if there are no people able to afford living
I truly cannot imagine a world where I could buy my own house. Houses are viewed as financial assets, not places to live. It's sickening and I cannot wait for people to decide enough is enough
All want (need) is a small house with a garden so I can grow herbs and veg garden and have a dog. It's seems so out of reach and it's depressing. It shouldn't be so difficult to have the basic need of a roof over your head a safe space with the freedom to live your life how you want. Also if we of are forced into renting rather than buying they are not living their life how they want no decorating no home improvements no pets (uk) the rental market is the landlords property it's not your home ever.
As someone born in 1989, I feel totally screwed on ever being able to build wealth. Not to mention feeling hopeless about getting a house, ever getting out of debt, or building retirement. My generation is much too paycheck to paycheck due to the high cost of living and wage stagnation. We just can't keep up.
born 1992. spent alot of time around my great great grandad growing up, he was born in 1902. told me alot about how it was over the years and waves of propaganda from the government. some of my grandparents are honest. boomers had the easiest and most available economy. 1980 minimum wage was just over 3 dollars. a new corvette was 10 to 15 grand. coke was a nickel. 60 cokes per hour compared to currently 3 to 5 depending on where you are. just over 4700 hours of work for a luxury car compared to 14000 hours worked today. 4200 hours of work would get you the cheapest new car on the market. Minimum wage then was equal to around 80 to 120k per year today. 1980 was going into a recession as well. 1981 to 1982. coke is 25 cents, corvette is 18k. at their absolute worst, they still made between double and quadruple. and thats just minimum wage. almost noone made minimum wage then. this would make at the most conservative measures around 20 to 30 dollars minimum wage to account for inflation today to equal their recession.
@@r3shap3r Really insightful comment, thank you for explaining the history of the inflation and stagnant income increases. I will use this next time a boomer tell me to work more:)
I was born in 71....I feel the same. The things my folks could do were impossible for me in the 90s when I was a 20 something. I've never owned a new car, never travelled in my 20s. Had 2+ roommates till I got married. My folks owned new homes since their early 30s.
I'm 53 years old. As a young boy in California, I would often hear older people justify spending with the phrase, "we owe it to ourselves." We'll be paying for that sort of thinking for a long time to come.
Ah yes, my favourite solution for an entire generation’s suffering. “Just continue to suffer for years until someone you’re related to dies and hopefully leaves you a fortune.” Genius.
Something that wasn't even touched on in this video is how much the Boomer generation is squandering their wealth because predatory assisted living/retirement corporations bleed them dry for every last penny before they die. All that money being sucked up into the bank accounts of some boardroom that will never be seen by the next generation. So many boomers are dying penniless or in debt because they unwittingly signed over everything they own because Tom Selleck told them a reverse mortgage is a great idea.
Yeah it's pretty fucked, especially because a lot of boomers are so twisted on the inside from a long life of unprecedented selfishness that they often sign away their amassed fortune to charity when they die to help with the deep seated guilt...
And that's exactly why the pulled up the ladder. It was by design...but it's hurting the masses, not just the "undesired" groups. Just like the free land for Europeans. Nobody else got free land. And now the idea of Land Back or reparations (beyond those already paid to europeans for ending chattel slavery) is totally rejected and there are no [more] "handouts." The people who built the country and the people who own the land get nothing. Meanwhile all that land is still being passed down for the European families. Racism is also the reason the boomers have blocked fair public education funding, rent control, livable wages or socialised medicine. If they would confront it we can all get free.@@KutluMizrak
It was my mom for us. An admin assistant with a 2 mil esop account. Its in stocks and bond until my dad kicks it, and he doesnt spend anything, but i would much rather have her back.
Entry-level opportunities have also dropped off the map. Manufacturing gave people that were willing to work a way to start climbing the social ladder and give their kids a leg-up. That's mostly gone now, and all of the excess profits from outsourcing goes into the pockets of executives and shareholders. That started en masse around 1970, and it's been downhill for the people already at the bottom ever since. I believe that the frustration resulting from that has led to a lot of the violence in the US that politicians love to blame on all sorts of other things. People are angry at the entire system.
It's also worth mentioning the high increase to automation that has occurred in that time period as well, which arguably has led to even more domestic manufacturing job losses than outsourcing. It also explains the phenomenon of the USA having an increasingly larger manufactured goods output than in the 1970s while having a significantly smaller and falling amount of workers in manufacturing. And of course, conventional protectionist legislation has basically no effect at reversing automation-caused job losses.
Completely agree. More productive, higher gdp, somehow all these people are still struggling. The frontier is coming home, and economists are trying to rationalize the slums next to skyscrapers now seen in the west, which is the long time norm for countries we've outsourced to. They show you the success on TV while they crop out the failure when it suits them. Then if you step out of line they threaten you with it. Of course we've seen this all before.
It's not because of "corporate greed". Consumers demand more things to consume, the market responded with automation and offshoring to exploit cheap labour. After the Great Depression things like the Hoover Dam was built, it created huge numbers of jobs because manual labour meant that anyone with a spade, strong back and no skills could get a decent job. Today if you infrastructure spending you have one man with advanced qualifications operating a 3 million dollar machine and doing the work of 500 men with spades.
I slightly disagree. Modern manufacturing is programming. Everyone has access to a computer or at least a smartphone and all the resources necessary to learn it for free. That's the entry level opportunity in 2022. No, the problem isn't income or jobs, it's HOUSING. We need to build more houses so and stop seeing them as investment vehicles but as utility instead.
My father-in-law left school at 12 years old. He grew up helping his dad's fruit stall business. Decade later took over business and made real estate investment. Now a multi-millionaire. He told me exact same time, people these days dont have the opportunity they had back then
Nice story, but it simply isn't true. I know a guy in his mid 30's who came here from El Salvador about 6 or 7 years ago without ANYTHING, and now owns a bunch of rental properties. He just got his hands on another about 3 weeks ago. He's not a millionaire yet, but makes a decent living. Every time you see that guy, he's working and not sitting around playing on his phone, dying his hair purple, and complaining about racism like the education system has taught Western kids to do. Is it harder these days? Yep. But nowhere close to impossible like people some people want you to believe.
@@survivingthetimes You poor thing. Refusing to acknowledge the wage stagnation data, the inflation statistics, the current housing crisis, outrageous healthcare costs, and ridiculous higher education costs so you can go on rants about the younger generations. Why do you even pretend that you have a point? Why not reply "get off my lawn!" to every comment?
@@TimErwin I never said that those issues didn't exist. I just alluded to the fact that they are nothing but poor excuses, and success can be had if you stop acting like a victim and go make that money.
@@survivingthetimes Again, with all the factors mentioned, "pull yourself up by your bootstraps" isn't going to work for 99% of people right now, no matter how much they want to succeed. But again, you know this. You just want another excuse to bash young people. Well, everyone needs a purpose, I guess. So just keep posting your insightful comments!
I bet your father-in-law would be just as successful, in modern time. Successful people have the right mindset, the attitude, and savvy with finance. The good news, successful skill sets can be learned and we all can be relatively successful.
This reminds me of an old Danish saying: "The father marls, and the son starves." In past European agriculture, marling was a common method to make the soil nutrients more available, resulting in improved crops. However, after some years the soil would be nutrient-depleted, and thus very poor, leaving the next generation with a harsh future for the field. This feels similar.
@@amogus694 That seems to be a very old saying in Semitic cultures, I remember a similar saying going 'The father eats sour grapes, the child gets blunt teeth'.
Its weird how light heartedly we talk about the fact a lot of us won't ever own a home and never experience a secure roof over our heads. Pretty bleak reality, it's been a fundamental part of human existence
It was all done by design by the Boomers. They wanted to FORCE millennials into renting. How do you do that? Housing crisis and massively increased illegal immigration. In 2012 my rent was $450 a month for a crummy studio in downtown Portland, in 2022 that same apartment is now $1200 a month. Roughly a 300% increase in 10 years for housing that is for low-income earners. Wages haven't increased 300% in that times, they've stayed the same. There are over 45 million illegal immigrants in the US as of 2022, that is a LOT of extra job and housing competition for young Americans to compete with on top of all the Americans and legal immigrants already here. And it ALL started with the Boomers. The Boomers even made a deal in the 80s to legitimize tens of millions of illegal immigrants on the condition that the border would be secured, and illegal immigration wouldn't be tolerated going forward. 40 years later and we have more illegal immigration than EVER in US history.
same, i work for one of the biggest property developer in my country. we tried to market the property digitally. and we failed spectacularly, because the people that are on the internet which are the younger generation just simply do not have money to buy property. and there is only a handful of people over 40 that have the money are on the internet.
Can confirm as a non-real estate agent. My sister and her bf needed help from my parents to buy a house, and a friend of mine lives a couple states over, also had to buy a house with help of their parents. Thankfully their parents were more in touch with reality and weren't left to deal with paying the mortgage alone, unlike my sister and her bf who now live paycheck to paycheck with not enough money to go around to actually maintain stuff like their car.
@@6.2Slomaro gotta move out of your comfort zone. Maybe to a cheaper state. Most people from every generation relocate to look for a better life, some even to a different country.
The problem is not one generation screwing over the next. (Except with social security) The real culprits are property zoning and regulation, over-regulation of products and services, allowing giant corporations to nearly monopolize industries, the existance of welfare, especially corporate welfare, government loan programs, and our failure to abolish the Federal Reserve. All of these factors are what have caused the artificially high prices of everything. This is not an old vs young or a left vs. right problem. Unless we begin to unravel these policies, starting at the local level, the cost of living crisis will continue putting home ownership and affording to have families and children out of reach for ever- increasing percentages of people.
My great Uncle, who lived in London and worked as a mailman all his life, died last year at age 84. After he died, we discovered that he owned 8 houses/flats in London and a few garages (11 if I am not mistaken). I don't live in the UK but nowadays if you worked as a mailman you would probably just be able to afford a normal rent !
Wait what? Do you understand economics fundamentals? If you rent a house you will increase the rental offer on the market. If the offer increases more than the demand rent prices will go down
This is why articles that blame young people's financial woes on avocado or takeaways or whatever are just silly. Anyone who sees the bigger picture knows that far more is going on. Here in Ireland the housing and rental crises are particularly bad, even if life is pretty good in other areas (relatively speaking). I feel like I'm slowly building something for myself now but it's tough with high rent. And going from bad wages to good wages is a lot easier than going from good wages to 'I'm making enough to afford a mortgage'.
@@mrb152 and none of this means, the younger generations are at fault for the hands they were dealt with was their own fault. The deck IS stacked up against them. Can someone build wealth in spite of that, YES but thats significantly much harder today than in the days of boomers being “young”
@@mrb152 the idea that circumstances *can be* overcome by willpower and therefore it's one's fault if they don't, doesn't work out for everyone statistically speaking. Yes one can get out of a situation but that is the exception not the rule. What does statistically pan out is robust social systems like in the Netherlands where you can go to get help and stay afloat while being able to use your energy to focus on improving your life rather than having to worry about maintaining day to day survival.
Don't forget that cost of education. My grandmother never understood why I didn't just pay off college with my summer job the way her kids did. I tried to explain "Well nana, they'd pay me $10 an hour, x 40 hours per week, that's $400 per week. Let's say $300 after taxes. Eight weeks of summer. Let's say 10 to be generous, and assuming I literally do not spend a dime, that's $3,000. Tuition and room and board this year will be $20,000. At my state school. EDIT: The numbers are from 2005 when I last had this conversation with my grandmother. Rest assured, she is long since dead. Penn State, however, continues to be one of the most expensive state schools in the nation. God help you if you're born in PA.
My grandfather never understood why I didn't just walk into an employer's building and ask for a job. Thought I was lazy for being jobless 1 month after graduation despite the fact that I was applying and interviewing online.
When I tell my grandparents I am moving abroad for work they always ask 'why?' and I never managed to explain them that if you don't hold a high position in international company paying in euro or dollar you basically will never afford a down payment for a house.
Andrew: I’ve been hiring engineers and other professionals for 30+ years. The fact that you were able to explain your point with simple math and quick assumptions makes you about 20X more likely to have a good career than average people. I predict that you’ll do fine.
what's scarier is keeping the calculations you just did to find out how much money you would have each month if you worked full time at $10/hr. $300/week x 4.5 weeks in a month = $1350/month
I am 30. I’ll never own a house, I will never have a family. I’ve accepted it and am now traveling and doing whatever I feel like. We’ll all be in the ground eventually
My boomer parents didn't know how bad it was for me to find my own place to live until I involved them in the search. To see me get outbid by a massive difference and see homes put on the market for ridiculous prices really woke them up.
My boomer parents behaviour was terrible and I turned it around on them and of course they didn't last five minutes. Literally with a timer. FIVE MINUTES. I put up with it for 20 years. I want to sit a boomer down and say here find a job. No instructions, just, find a job.
@@Jmack1lla not the cheap path to education, but rather the affordable route. What you did was smart! College is actually very affordable, if you do it the way you did it, so when I hear these people saying they have big time student loans, all I hear is they made dumb decisions when it came to getting an education. Quite the oxymoron! The goal for parents of for their children to do better than them, so I am sure you’re parents are very proud of you. You are a fine example of what others should be doing, and living proof that all this nonsense about it being too difficult to make it is untrue. The fact is, life is actually much easier than some people seem to make it, and many of those people make it seem. It’s not easy, as nothing in life that’s worth it ever comes easy, but much easier compared to most other countries. You should be proud of yourself, and you should use your experiences to teach others that success is achievable if you make sound decisions. As far as degree programs go, students should be working with counselors in HS and with their parents to see what is best for them. Plus, there is so much free information online about career paths, if people don’t research it, and choose a career path that will lead them to the poor house, then they deserve what they get. And, as far as people saying that you have to pay a lot for college, to get the life experience, you can remind them that college os for education, and you have rest of your life for “life experience.”
Mine still lives in their delusion that I am not good enough in the eye of their variable shaped metrics fortunately i left those fiends that were ruining my life for ... fun I presume
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.” - from a postapocalyptic novel by the author G. Michael Hopf
@@skeezix8156As this video highlighted, interest rates don’t really matter much when the principle is lower. A 500k loan at 4% over 10 years has 2.5 times the monthly payment of a 100k loan at 20% over 10 years.
@Skeezix the average house price has amywhere from tripled to multiplied by 5 since the 1985. I say that cause I don't believe House prices directly affect inflation adjustment calculations.
A lot of it has to do with foreign ownership of real estate. If you control the land, you control the people. The amount of real estate the CCP (and its shell assets) own outside of China is staggering.
@@Psilocybin77 Don't kid yourself. This is a result of the "Federal" reserve printing money and giving it to their other businesses to buy all of America. But yeah, I suppose you can argue foreign ownership since the people controlling the "federal" reserve are only American on paper if at all...
Wage growth has been stagnant for 40 years. Making nearly exactly the same wages as our parents or grandparents in some cases. But now we have 800% more expensive housing, 900% more expensive healthcare, 250% more expensive food. We literally have 5% of the financial power that our parents and grandparents had. I make 6 figures at 23 years old, and own my own home ~300k (150k left to payoff) but adjusted for inflation my salary would have under $10,000 salary buying power. If i did the same work 40 years ago, i would have approximately 2,000,000 salary of today's dollar buying power, or i could buy 6+ houses outright per year. People, we are screwed by inflation and no wage growth. The people in charge have ruined entire generations economic future. We are already slaves. Wake up.
@@zenzin7725 look up average home prices, healthcare prices, tuition prices, and wages by job title by year. Im not going to hold your hand to make a youtube comment.
because back then we didn't have crazy inflation. things got cheaper over time not more expensive. We were on a gold standard, there was no massive QE going on and interest rates were normal not extremely low. House cost basically same for 30 years straight. Once you have inflation people with assets get rich and people that just have a job get poorer.
What I would give to live in a time where we weren’t constantly worried about Inflation crisis, debt crisis, resource shortages, and affordable living costs! Jeez, don’t I sound right out of the Great Depression
My father in law paid for both his grandkids' college education. I think he wanted the next generation to do better than he did. I'll always respect that.
My kids worked hard in school and got a state scholarship that paid college tuition and they also worked to pay the rest. I respect that too. They did it with their effort not someone elses.
@@patland1762 So instead of a parent paying for their tuition they had the government pay for it. And you're proud of that? In both cases someone else paid, they didn't pay for it themselves.
@@sdm6054 In some states the govenment uses lottery proceeds to fund scholarships for students with good grades. Nothing wrong with that. Would you prefer a nation of under educated easily fooled by media and some politicians?
Nothing motivates me more than being told I just have to work harder and save more by a generation whose biggest claim to faim was winning the birth lottery...
"...whose biggest claim to faim was winning the birth lottery..." (as a boomer, and leaving my number in the draft lottery aside) I agree completely with your observation that we lucked out, in so far as when we were born. I genuinely wonder, though, from an actual statistical standpoint, what percentage of other boomers still think that merely telling those who came after us to "just work harder" is still in any way a sane thing to say to someone, y'know? Corporatism screws us all, but perhaps especially those who are younger. I tend to vote for those who whose policies would help *all* generations, but... that's just me. We all need to support each other.
That's because you don't understand basic economics. This issue isn't with preceding generations but rather is caused by the type fraudulent fiat currency we use which is an outright ponzi scheme.
The recent extreme Zoning does more than just increase house prices, It also traps children in their own homes. When the nearest store is too far to walk- and friends houses are too far as well, kids rely on their busy parents to create time in their schedules to drive them wherever they need to go. Never where they want to go. It really fucks with their mind. and when adults start to talk about internet addiction in kids, I really wonder.
Exactly this!! I grew up indoors with severe depression and tech addiction. I think mostly because Houston TX is too hot to go for a casual walk in and when you do walk here, any sort of destination is much too far away to arrive to without being drenched in sweat and exhausted. Houston is the absolute worst large city if you like to be out and about as a functioning member of society. It’s also notorious for a lack of zoning laws. I always fantasized about growing up somewhere like Amsterdam or a size-able English town, somewhere people can walk or ride bikes and everywhere they’d want to go like the store, the movies, the park, whatever, is not very far away. I think the isolation has a very negative impact on society. Everyone is constantly in their own little bubble. Their own house. Their own car. It’s created a disconnect with the people. Probably why there is so much distrust and animosity in the culture here.
@@crewmatewillthrowthesehand7600 The risk is not getting kidnapped, kidnappings by strangers are rather insignificant (in the high double digits for everyone below 18), the problem is that the cities are built for cars. You're literally risking your life if you're trying to get to the grocery store on foot.
I agree with you I think these two are the main problem. Because monetairy policies where so loose and facilitated by banking all asset prices exploded over wages. They should correct that. I have hope they eventually will because given time it becomes inevitable
Wages don't need to keep up with runaway inflation, the sources of inflation need to be dealt with, it stops increasing, and prices drop back down. We don't need to increase minimum wages, we need to reverse inflation.
Oddly, I feel GenX may have it the worse. They had this huge push by the Boomers to take on 40k-120k worth of college debt even before getting a job. They were told to then get married at 25 and sustain it all with their 3 kids. Fast forward, most are in horrible debt, divorced, and struggling. You see them working along side us likely never to retire. They're our older siblings that were scammed into the "American Dream" scenario too. I feel so mean saying this, but the Boomers live forever and never give up their businesses or positions. Our lead attorney is 73 years old and won't give his children a dime. Makes them "intern" as the receptionist while going into college debt. They are a cruel generation that dismisses everything with "well back in my day". I worry for all of us.
They had it worse, because they were closer to the wealth and the lie seemed more believable. Newer generations stand so far away from wealth, that believing the "work hard" bla-bla is kind of ridiculous at this point.
They don't have it worse. Every younger generation has it worse than the prior. there is a large portion of millennials that don't own a house have massive college debt and refuse to have children because of the state of the economy. Generation Y is now entering into the workforce seeing the exact same thing Millennials have learned the hard way with even more debt and less opportunities than Millennials had. The problem is GERONTOCRACY! boomers are all about themselves and most of the older half of Generation X are very similar. Climate change is an excellent example of how selfish they are. The "Let someone else deal with..." mind frame or even outright denial of a problem.
@@JAGaymer it’s why gen x is worse they became like their forefathers following the same ideals hoping to fill their shoes in the future. Nobody will ever help the young accumulate wealth because of envy. We’re stuck in a transition into war.
House prices were better 15 years ago. Not easy but not insane like to day. There is absolutely no way I can save enough for a downpayment for a house where I live today.
It's because boomers are a larger and less diverse generation, they're the biggest voting block with very similar views. They're majority one race, similar religious views, grew up on a stable cultural and news diet. Other generations are smaller and much more diverse in every metric. We'd need a large amound of boomers and solidairty amongst the rest of the generations to make change and that ain't happening.
My mum watched me get my first job at 13 and freely admits I've worked harder and longer hours than she ever did. I went to university, neither of my parents did. But both of them own their own homes and at 37 I had to sell my car.
I have no hope of ever achieving the financial independence my parents did while ALSO having money to raise a family. even working all waking hours of my life, I'll forever have to remain single and dependent on them for a place to live because of the cost of living.
My father and me have worked out a plan as he readies for retirement. In the last couple years he's come to realize that it wasn't a lack of effort on my part but just a said fact I can never be as successful as he was. That said we've both shifted every bit of our finances to pay off all our combined debts(cars,loans,mortgage) and secure up the family farm for the future. We've got into a position that right as he retires the only outflow left would be utilities. We worked together to secure his golden years and my middle age.
Most people don’t have strong connections with their parents like this. My dad is extremely arrogant and resistant to change his ways. I’d say you’re blessed to have a good father.
In 2015 when my parents were putting pressure on me to go apartment hunting and get out of their hair, my dad (who has been a homeowner since the 80s) was adamant that it would be a simple task to find a 1 bedroom place, utilities included, in a safe neighborhood, for only about $400/month. Called me lazy, a mooch, entitled; why on earth was I taking so long to get out and be an independent adult. I was making *twice* what he had been at that same age, it was ridiculous and embarrassing that I kept making excuses about not being able to afford it. So one day I sat down with him, and asked him to help me find a place. Let him discover for himself that average rent in our city is closer to $1600/month and that most landlords don't include utilities anymore. Quieted him down pretty quick, but for some reason he was convinced that my situation was an exception and not the rule. Other millennials and gen-zers are obviously just incompetent and there's no reason they should complain so much about low wages and high cost of living.
Paid 600$ a month for a 8x8ft room in a trailer with 3 others. Shared a bathroom. Roach problems. Bad neighborhood. Now, I rent a 11x11ft room, own bathroom from a friend. Free, because his boomer grandmother gave him the house. After she died. For free. *After* she died. We are all literally waiting for the old to die off so we can have a chance at a decent life. (BTW its free, yeah, but I also clean the whole house, cook, and work 50+ hours a week so I can TRY to go back to uni. Had to drop out to afford the shithole from paragraph 1. Thanks boomers. ❤) EDIT: This got 50+ likes. Can y'all RT this so I can go to uni? (Gotta love how unavailable the boomers made it.) twitter.com/Kanji_Bear/status/1536357121654235137?s=20&t=CGninnxX7aguevC0UQHE2Q
@@SomeBody-pb7ht I'm far from the cleverest or best educated person out there, but it seems to me that the vast majority of the time treating *any* issue as black and white indicates a general unwillingness to put forth effort into solving the problem. Turning politics into team sports will be the undoing of our society.
Honestly, if you want to do a nutcase and DIY a home, I've heard that most pallets are just thrown away and might be able to just be asked to take, and old cargo containers are pretty cheap. Both are good materials and constructs to make a house(albeit a very poor looking house because your practically living in a box). Problem is getting land. As well as many other things.
The problem isn't only that wealth is concentrating in the hands of a single generation. It's concentrating in the hands of a select few families. When that gets passed down nothing will change
If only we could instantly give all the currency to them, and then the world just switches to a different currency, rendering all old currencies useless ala Recess monsticker style.
thats so true, also these families gain more and more wealth by already having wealth too. half of the real estate in my old hometown already basicly belongs to a single family...
Eventually the situation will become such that the have nots will realize where all the wealth is, especially after famine and the like, and they will band together to drag that wealth out of their hands. Maybe they might even be generous to allow them to retain their heads, unlike when this happened during the French Revolution.
I remember about a year ago when i was getting ready to get married. Money was tough and housing market tougher. And my dad has always had an answer or solution to any of life’s problems. And it’s always comforted me. He and I sat down once and he looked me in the eye and said “i don’t know what you’re going to do.” And at that moment i understood that he realized how dire our current economic situation is.
Don’t have kids and focus of both of you making good incomes. That’s what you need to do. If you have kids, you’re setting yourself up for serious hardships unless you’re both pulling serious money.
As a retired baby boomer I can tell you unequivocally that I have had multiple times in my life that I didn't know what I was going to do. That isn't unique to the current generation.
@@danquattro6662 I have kids. Don't have kids. People love saying we overspend, but they fail to realize just how expensive child care is. Unless you have a family member that that watch the kid(s) which tends to be more affordable, don't do it. Childcare alone can cost as much as a mortgage for a single child. If you have low income then you might be able to qualify for certain programs that can reduce those costs substantially, but it's still relatively expensive. I haven't even discussed necessities such as food, healthcare, etc.
The complain that we're not having enough children. But I'm not sure what they expect when I can barely afford to keep living. If I had a kid I just have to give it up, or go homeless. I don't want to have a child knowing they're going to suffer and have a terrible life because I can't provide for them. Nobody wants that for their kids. So it's simple. We won't have one. Because we can't afford one.
Unlike some irresponsible boomers who popped out several kids for no good reason and made them go through poverty, we actually have something called SELF AWARENESS...
I have late Gen X parents. One works at a factory, just like me, and the other made 15 an hour for 9 years straight. My boyfriend makes about 20. So, basically, when they turned 30 they were able to afford a STICK BUILD 3bd 2.5 bath house on 5 acres for 150k in their early 30s. Our jobs are literally identical to what theirs were at 25 and 26, and they just do not understand why we'll never see the same thing and keep telling us "just wait out the market". They're so delusional it's insanely frustrating
@@mad1337nes They shouldn't even be considering children, under such circumstances. My husband and I never reproduced for the same reason. This crisis has been festering for a couple decades.
@@nobody3279 that's where the idea of a forced inheritance came into play. Better for everyone, and you get to it before it's all gone on cruises and "collectible" dinner plates.
One immense issue around this is simply human nature. People want to believe their successes are due to some special traits they possess and if that is true, than negative outcomes for others must obviously come from their own failings. Breaking that mindset and just getting them to look at actual numbers and facts is extremely hard because for them it means... 'my success was just a byproduct of my environment and I'm not special or better than them'
And then the Boomers laugh while saying “I’m going to spend all the inheritance travelling and living large, I’m not leaving anything to my kids or grandkids. They can work for it, just like I did!” Their lack of awareness and gratitude is simply staggering 🤬
I can see that happening.. but who would take care of them not being able to drive down to buy groceries or medicine or help them when they collapse of stroke or heart attack without paying today's fees for a nurse/helper? I know I hear in the US, they have something what they call home for the Aged or something but not all countries have it as good as US & similar.
why should they leave you anything? You do realize that it was just a few generations ago that the Kids were meant to help support the parents in the parents old age, right? You planning on doing that? They spent a large amount of their income on you for 18 years. What have you done to pay that back? Your Privilege is showing and your lack of awareness and gratitude is simply staggering.
It makes me so angry and bitter that I had been told all my life that if I go to school, study hard enough and develop a strong work ethic that everything will be alright and I'll be able to afford a home just like my parents.
You've got fooled lol
You've been bamboozled
Your parents fault unfortunately, because they forgot to mention something really important: study something -->highly demanded but hard to find
What did you study?
You were told the wrong lesson. Here is the real one: "Spend less than you make and be well insured." How much you make is far less important than what you do with it.
My grandfather worked on the line at Ford for 40 years. Had 5 kids, a paid off house, 40 acres of farm land, farm equipment, vacations, cars, modern technology in the house (for the time), and healthcare. All that as well as a giant amount of money sitting in his bank account and a stay at home wife who generated no income…….Try that today working at a factory…….
it's not possible period.
Same, and then we are told that we are just lazy cause we can't do that same thing. And then they criminalize people for losing their house when interest rates go up and companies lay off tens of thousands of workers. Or when covid hit and everyone lost their income/health insurance during a pandemic.
Meanwhile my wife and I make $130k combined and live in a one bedroom apartment with no kids or car at 42.
@@ChrisJohannsen my wife and I make 160k a year total, still cant afford a house (and thus no kids) at 30.
2 medical degrees, chemistry degree, welders cert.
Had a dude tell me "your priorities are skewed" because I have a dog. Apparently pet food and vet bills are why I cant afford a house.
And not the fact that a house worth 250k 15 years ago, sells for 1.5 million now.
@Justin Williams It's just economical. I've got a mate what lives with his parents at 35. He's set to inherit the house when they pass (they had him late and are mid 70s).
He beats himself up too, but none of us can control the economy. Him living there rent free (he's the housekeeper to "pay" rent) just means he can save for his own future. Which is what his parents want for him anyway.
Certainly better than my situation tossing 2200$ a mont away on rent.
You shouldn't beat yourself up either.
Our parents bougt their houses in full, for less than 1/4th of what a down payment is now.
My father used to tell me that I have no idea how hard the economy is. He constantly talks about how poor he is, without grasping that he makes well over 6 figures a years, constantly vacations and goes out to dinner. My ma and her husband talk about being tight on money, but they own 4 expensive cars, a fancy motorcycle, and a giant house. It's the same thing with my girlfriend's mother. The all are living so comfortably but feel convinced that they have it rough for some reason. Blows my mind.
I mean your average American is the same way. People be on their IPhone in their air conditioned apartment crying about how poor they are while 90% of people in the world don't even have the luxury of a smart phone and air conditioning
@@brandond5963while true, whataboutism is what hinders problems we are discussing
@@brandond5963 A one time purchase every few years of an 800-1k phone is a bit different than 3 nice cars and vacations.
The boomers standard of living is WILD. It’s so bizarre to have parents that were so much more spoiled by life. It just feels off.
@@brandond5963 the abnormal thing is that only in the western world are living standards declining from previous generations. Everywhere else things are slowly (or quickly) improving each generation
It's sad how difficult things have become in the present generation. I was wondering how to utilise some money I had. I used some of it for e-commerce business, but that sank. I'm thinking of how to protect my $300K stock portfolio from decline is my main concern, but I don't really know which way to go.
Yeah, things may be hard right now, but I've come to realize both bear and bull market, recessions and economic boom, all provide opportunities to make high gains, I used to call bluff on folks that bragged about making a fortune from such down-markets until I happened to do so myself
I agree. I've been working with a financial advisor since 2020, and I return up to 15k every month, and I don't even have to lift a finger. Although I also think the reason I make this much is because I started with significant capital.
This is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
Credits goes to " Vivian Jean Wilhelm " one of the finest portfolio managers in the field. She's widely recognized; you should take a look at her work.
She appears to be well-educated and well-read. I ran an online search on her name and came across her website; thank you for sharing.
The problem with politicians is that most of them are 55-80 yr old guys who don't have the same issues as we do.
And let's be honest...at ages 65+, your mind starts to go downhill. You can't think or remember things clearly, you struggle with self control, and anger, and also emotional control as well. Also...when you're elderly and are in power for a long time, your personality can get corrupted by power and money. On top of that, and the mind going downhill..it's a recipe for disaster.
@kshamwhizzle I don't see what white has to do with anything if you go to Africa they have higher political systems where it's just old African men in the sixties to seventies holding on to power and has nothing to do with race and everything to do with pure greed
False the issue is they have been traitors for at least the last 80 years. The modern political and social order has to come to an end for anything to improve. It may also require loss of tech and industrialization. Like its not a coincidence this cabal all join young and are all connected and incestuous one way or another.
@kshamwhizzle Modern Monarchy disguised as democracy and freedom
65 plus
55 is the age group that should
Be in charge
I worked the exact same job, through the exact same company for the better part of 5 years that my father worked. In a year or two, he was able to buy a home back in the mid 70s with just his income. I couldn't even afford rent and groceries in a one bedroom. He was always making comments like "You've got to manage your money better!"
So I brought him my paycheck, and bills, and asked him to help me budget. He never again made comments like that, after seeing the reality in paperwork. He kept shaking his head and saying "Somethings not right with this"
Yeah....I'm essentially working with 10% of what you had, and 5% of the opportunities you did.
Thank you for showing proof and not just taking that abuse. These older people need to see the evidence and wake up.
And good of your father to at least state to you that he was confused after seeing the evidence. Most parents don't even want to hear the explanations because they see them as 'excuses' and won't admit their view of the world is no longer correct
Population boom and easy immigration increased the demand, while zoning and construction restrictions dwindled the supply of houses. The opposite happened to the job market, increased supply of workers, and technology bleeding off the demand for actual people to fill worthy jobs, kills the job market.
@BEATNiK B.A.E has CHUTZPAH!!! $700 BIWEEKLY?!?!
@@angelvu BAHAHAHAHAHA LOL WAT!? 😭
"You can't run an economy on people waiting to get old enough to finally do something with their lives" such an important statement
At this point, you can't even do that.
I'm 30+ now and I'm finally in the position where I can financially do normal stuff. Not expensive stuff, normal stuff.
A Boomer Rockstars kid never became half the person their parents where. Thats the way nature intended it. Take the sun for example how come there are'nt two stars in the same galaxy that 9 planets orbit at the same time?
Or be it Iron Maiden, MJ, Chaplin, Sean Connery, Queen Elizabeth, Trump, the Clintons, Beatles, Bruce lee, George Lucas or Schwarzznegger, Steve Jobs and Gates.. how come non of their Star Kids went on to become as legendary historic or successful as their Boomer Parents.
🍷Food for thought, Heck when you think about how non influencial and mostly inconsiquential the present generation is made out to be, you realise - Why we dont yet have something to atleast effectively replace the grand old mostly disfunctional United Nations or even the fre*kin, Oscars?
Especially when said with the most hideous accent ever.
@@varunemani Pluto isn't considered a planet and another star system with 8 planets does exist. Also it's not so much that they don't exist, it's that it's difficult and time consuming to prove there are planets orbiting a star increasingly so if you're looking to see if there are more of them
I don’t blame them for taking advantage of the great conditions they grew up in.
I DO blame them for pulling up the ladder once they reached the top then calling younger generations lazy for not making it to the top just like them.
Yep, like the video said at the beginning, boomers were very much in support of low cost college, housing, cars, medical care when they were young, but then voted in and supported politicians who stripped all of those things away when they got older.
Boomers gave us salaried jobs instead of hourly jobs where you can get overtime, gave us increased college tuitions, gave us the credit score system, gave us the investor class, accelerated every negative aspect of capitalism by de-regulating earthing that would have controlled it, gave us multiple wars, the list goes on.
Well said
@sandponics The only reason you think we'll have nothing of value to do is because people have been tricked into thinking the only thing worth doing is making money. Perhaps now you'll understand why things like funding and support for music, and the arts and social sciences is important.
Please explain "pulling up the ladder".
@@patland1762 Here in Australia the national broadcaster still has on file a soundbite of a young boomer student activist explaining why fully government-funded tertiary education was a right for all Australian students. That student activist went on to be a Federal Treasurer who announced that the nation in fact could not afford to provide fully funded education to our students any more - despite the fact that the younger generations are so much smaller a percentage of the total population than the boomers were and therefore the cost to the nation would be proportionately smaller than it was when the boomers were in university.
My parents both got a university education. I dropped out, with a debt that I will never repay. My kids are getting trades skills qualifications. The ladder is long gone.
When my mom tried to tell me how hard she had it with her first job. She made 900 dollars a month. Equal to about 4500 a month today.
My aunt was telling me about she could barely make ends meet, with her own studio apartment and new car working 30 hours a week at Jack-in-the-box.
@@peteranon8455you can barely afford a studio working overtime in a professional career now
My parents had nothing and they were able to get two houses for hustling just two years in their life...😅
@@peteranon8455lmfao that's a literal dream to us
*guffaws is not one of my favorite words solely by sound alone so I never really use it but
In your moms case - it’s warranted and I’d probably choke whatever I’m drinking out of every hole in my head if I heard that while I was drinking
I stayed in school, I said no to drugs, did extra curriculars, and WENT TO COLLEGE, and after all that I live in a dusty attic in a house full of roudy strangers I met on Facebook. Suffice to say I feel really cheated by life.
You will get ya own spot soon 💯 manifest and pray on it 💓 2023 everything we want we will get 💓✨‼️
Don’t lose hope 😔
Life dosent owe you anything
@@brandond5963 It doesn't but being lied to constantly about a false reality really sucks because nobody told you any better.
Have you tried not buying starbucks?😂
I remember sitting in a doctors waiting room a couple of years ago. I ended up chatting with a lady in her late 70s/early 80s. I ran a pub at the time (an industry where there is very little money to be made as all the pubs are owned by companies which let them out at extortionate rates and tie you on alcohol). it turned out she and her husband had run a pub back in the day too. Just a local 'basket of chips and a pint' deal. I was moaning to her about the state of things so she decided to give me the sage advice of 'making sure to buy a few properties' to feather the nest for my old age. The young receptionist must have overheard this too as we shared a look of disbelief. This old lady really thought it was still feasible to buy a few extra properties as an additional income source. it was terrifying to see just how out of touch she was with the current day realities.
And one of the reasons we can't is because of people like THEM buying ALL the property!
@@Chokah It's almost like people hoarding valuable commodities that previously were not held by all the same person is a problem. Strange.
This is why we can't have older people in government, they can't even use a smart phone..... let alone run a country
My grandparents that lived in Arizona said the same. So did my father. Just buy some cheap houses and rent them out. Like dude me and my wife with full time decent jobs can't even buy 1 of those houses and property. This was only 15 years ago where you still could buy them with 120k to 300k. Now in my 30s those same places and homes are 500k to 5mil.
Well, you COULDA liquidated some paintings!
They used to be able to learn on the job, now you need a college degree. It makes me mad thinking about it. They brainwashed a whole generation into believing they need a degree to make good money, now plumbers and electricians are outearning college grads
I wish you just needed a college degree to get a job. Every job I see wants a college degree and 5+ years of experience for a junior position. I don't get why companies want that. Anyone with 5+ years of experience that is still a junior is not the kind of employee anyone would want
If they brainwashed everyone why did some people become plumbers and electricians? Just admit that you fell for the lie and other people didn't
Funny thing, my friend is a plumber and I have a useful degree. I make nearly double what he does. Now if you're a degree holder who works at star bucks yeah I can see why you make less, but if you didn't choose something dumb like art history or English as your degree, maybe you'd make some money.
@@kattkatt6961 depends on region I guess. I know people making prevailing wage and per diem bringing home about 3k a week. Same goes for Crane operators with government contacts. Heck even hauling water in the oil fields okay 3k before taxes.
AND COLLEGE DEGREES MEAN NOTHING NOW...A PHD IS NEEDED FOR MANY, MANY JOBS! SO MANY PHD REQUIREMENTS AS LONG AS YOUR ARM ALL TO DO A BASIC POOR PAYING AND LOW END JOBS!
I can’t even imagine living in a world where the prospect of buying a home was a practical, affordable endeavor.
Well thank your local liberal for that.
Do you favor continued immigration into the United States? That is what has ballooned housing prices. Building huge suburbs after WWII created a housing surplus and cheap rents and prices in the 1950s-1970s.
High rates of immigration has turned that surplus into a shortage, greatly increasing prices.
Did you, for example, vote for Trump in 2016 and 2020? If not, you have been getting what you voted for. Don't complain.
@@SeattlePioneer it's not immigration, it's that people aren't building houses to accommodate youth anymore
@@SeattlePioneer I didn’t really make my point straightforward in the other comment, I’m a moderate I have both conservative and liberal values, I’m saying that it was a joint effort between both parties not specifically one. Its not black and white bad guy good guy. I’m not attacking conservatives I think trump had a lot of good policies he just didn’t present himself well, and he also had bad policies. I enjoyed the economy while he was in office but it could be much much better.
@Monty Kronik
Not just illegal immigrants. Legal immigrants have ballooned in numbers since the 1970s and have turned a housing surplus into a housing shortage. Illegal immigrants contribute to that as well.
Present estimates are that twelve million people reside in the United States illegally. Do a thought experiment:
Imagine that they all disappeared tomorrow. What would be the result on the availability of housing?
QAnd that doesn't include millions of legal immigrants and their children that have ballooned the population of the United States for half a century.
I imagine that Democrats and liberals are looking forward to a population of a billion people in the United States by the end of the century. Assuming that is true for a moment, what would be the impact of that not just on housing, but on roads, hospitals, schools, wage rates and such?
Imagine every new immigrant entering the United States coming with a bill for $1million in new investment to create an American style style of life for that person.
Alternatively, if we don't pay that $1million bill for each immigrant, how will that water down the availability of housing, health care, education, transportation and such? Isn't that what has been happening over the last half century? We have FLOODED the country with immigrants beyond what the infrastructure we have or have built can support, and everyone suffers as a result.
Homes are literally going up in price 100k every year. Houses that were 230k last year are 330k this year. If your society doesn't have affordable housing, your society is a terrible one.
Exactly
That problem is because once people buy a home they start voting locally to block further developments and protect the lifestyle they just purchased. We have plenty of land, but can't get things built on it because of lifestyle opposition. Something ultimately has to give, either employers need to embrace remote work so that people can afford to move away from major job centers or they better accept that costs for talent will go up continuously in line with housing costs.
@@SandyFischler The second a house goes on market, actually before, these huge companies like BR get insider information to purchase these homes. If a home DOES get on the market somehow and it is affordable it gets snatched up by real estate investors, house flippers (who make the home unaffordable after fixing it up with tacky modern garbage), landlords, etc. People use their leverage to purchase multiple homes and rent them out for high monthly prices. The amount of homes that never even make it to the market is close to 90%. It's insane and this cannot go on. I NEVER hear useless politicians talk about this, but EVERYONE needs a home.
Supply and demand ?
@@SandyFischler you're absolutely right
Ten years ago when I was in college our professor was discussing this with us. She was telling us that we are the first generation to struggle more than their parents and that her generation (boomers) like to say they had it rough. She straight up told us it was a lie because the economy had spoiled them. Now society is catching on.
Good professor
Gen X is the first generation to be worse off than the previous one.
@@belkyhernandez8281shhhh, don’t say anything that might challenge their perception of being the most important generation in human history.
It's called gaslighting
@@belkyhernandez8281 I'm not sure that's actually true. You're the first person I've ever heard make that claim, and when I searched google for Dr. Belky Hernandez, I couldn't find any of your peer-reviewed articles, so I need a better source before I'm inclined to grant belief.
There is another problem with the idea of wealth inheritance. My boomer father recently died and donated all his wealth to the political parties which gave his generations every financial advantage. The children, grandchildren, and great-grandchildren whose future he stole received nothing.
Ouch. Have any idea how much that was?
That's disgusting he gave it away to a bunch of strangers instead of his own family!
I’m sorry but he sounded like a creep. Sums up both him and the rest of his entitled generation.
What a psychopathic sh't...
That's horrible
This reminds me how my grandma with a teacher's salary from the 70s has been able to travel more times to Europe than I will ever be able to drive around the country.
I wish i would have been born 30 years earlier
I know a man that travels monthly all around the world and to the most expensive parts of Europe on river cruises, and he also has a teacher's salary/pension. How much must he be getting to afford that? Eight thousand a month? More?
@@NFS0038 J Peterson also has a teachers salary. He's also a multi millionaire.
@@parrotshootist3004 J Peterson has a professor salary which is generally two to three times a teacher's. Also he happens to not just be a proffesor and has other forms of income
My grandma asking me why I don't go travelling... 😕 I'd love to. You paying for it?
Coming from a Gen Zer who just started college it comes down to this… we already had a growing sense of cynicism and nilhilism about society that sort of cemented it’s self during the pandemic. Why give your life and energy so much that it drains you to this job that doesn’t value you. If you died on a Monday, buy Tuesday you will be replaced. And some will say that that is simply life but it’s disconcerting. You give up your entire life in hopes that you’ll receive good benefits so you can die old and happy. As for us, reaching old age seems like a fantasy.
Oh yeah that's a huge agitation for me, people acting like going to work is some kinda religious experience,
Bro as someone who is a fan of work ethic I'm not delusional about it ...
Everything you said combined with "what am I contributing too"
The way it's supposed to work is the people at the top do their job and look after you while you go do the smaller jobs this leads to everyone's needs being met ...
In reality through the government and media mock you on a daily basis and make it clear you are powerless and they will do as they please
Where does the motivation to work hard come from ? Why should the janitor care if the ceo doesn't !?
You need to give people more than a paycheck if your asking em to grind like that ...
@@gtt8428 if people in general but especially those in charge stopped treating employees like they are expendable maybe this problem wouldn’t be so bad. from the outside looking in as people who are just starting out in the workforce, we don’t want that life where we wake up every morning to chase a check just to attempt to survive until the news of the month and hope that one day you will reap the benefits in the form of a sad little social security check.
I’ve heard older people also say that my generations problem is that we rush into things, which is true. we’ve grown up seeing them struggle in hopes that retirement will grant them some sort of peace. many of us can’t picture ourselves living that long so we want it now. what’s the point of the grind if you’re basically grinding ourselves to nothing but it’s supposedly contributing to this great nation
🎯 the rat race that we see in front of us is crazy and leaves you thinking what I’m I doing this all for ?
@@zekehall1 and that’s literally what it feels like and it’s disconcerting and frustrating
What’s the real difference between you zoomers and the boomers? They started with nothing and worked for everything they have. You started with everything yet you still complain.
Politicians are also old, so they don't even understand younger generations. Even if they vaguely remember what it was like to be young, it was a completely different world in every way, so their experience means nothing today.
Also, economic hardship and poor outlook discourages having children, which just reinforces the pattern. That's why we are facing population collapse.
Here in the US our President and the leaders in the Senate and House are all late 70's or early 80's. It's total BS. We desperately need max age limits for elected office, along with term limits.
@@QuantumAscension1 The youngest president in US history was JFK, who was 43 upon inauguration. That's just insane to me.
Make politicians live like the average Millennial for a month! Budget, here’s the take home income, there’s rent, oh no sorry daddy can’t help you. Lol.
Yeah our modern civilization will collapse because of that. Either we keep chugging along and not fix the problem and eventually nobody has children so we’ll all be too old to reproduce so we’ll go extinct or our young population will be too small to continue modern civilization and we go back to living like medieval peasants again.
This is a fallacy. An age-old fallacy perpetuated by Pop culture (movies and music and the like). Old politicians understand the younger generation - they just don’t care. And I really mean that. Being in politics is about power, and they have the power now. It’s not that they don’t remember their youth it’s that they just don’t want what they have now taken from them. And we in no way are facing population collapse… That’s just hyperbole. Losing population would probably actually be good for this country, then we’d have to do what this country was founded on in the beginning- Open up the pathways for immigration. New blood is always good. We are a country of immigrants after all.
Many of us here under age 50 have more education and “skills” and “experience” than the prior Gens, but they had an easier time working the same hours and acquiring the same basic things.
It's really funny when the guy intervieweing you expects you to have all sorts of degrees, then just to make small talk you ask them where did they get theirs and he just tells you "Oh no I just started working here at 15"
There should be a Boomer 20% property luxury tax
Something I’d like to share is that what allowed baby boomers to thrive wasn’t them, technically, but the generation that grew up in the Great Depression and WWII: they made all the policies to ensure great life for their children because they knew scarcity, and that’s what made the boomers early life so successful. When they got their chance, they just screwed over everyone after them because they believed the prosperity was forever; they grew up like that
Dude exactly. Their parents went through real hard times and wished for the best for their children.
The boomers also lived through one of the best times to be alive in USA/Canada. Less global and local competition. Industries back then aren't outsourcing their labor in cheap countries or sponsoring cheap immigrants to come and work. This made their employers more willing to accept their boomer worker's demands and respect their rights.
Then there's the cost of education. It was way cheaper back then relative to the economy. But thanks to student loans, it became very expensive now as educational institutions took advantage from the infinite money being loaned by the government.
Also the cost of living had increased. Prices keeps increasing and salaries are struggling to keep up. We also need more to survive the modern world. Everybody needs atleast a laptop and a mobile phone with paid subscriptions to do anything.
Harsh times make strong people
Strong people create prosperous times
Prosperous times make weak people
Weak people create harsh times
- cant remember who said it 😳 plus probably paraphrased
Interesting point
Certainly not! We listened to that younger generation that was APPALLED by "white privilege." We didn't want to burden you with that which you you found so offensive.
So we keep spending our filthy lucre on ourselves so as not to offend you young folks.
@@SeattlePioneer I’m not sure you know what white privilege is? I mean if that’s the case just donate to charities that fight racism and support black people. Also why did you copy paste the original comment? It’s not that far to scroll up.
During covid 2020 I never once missed rent, or was even late on it. Although the whole shutdown crushed my small little business for basically most the year, I just choose not to be that person that uses it as an excuse to not pay rent. I lived off my savings while my wife was able to at least work from home during the shutdowns.
Fast forward a couple years, my landlord reached out to me regarding our upcoming lease renewal. She prefaced it with saying "thank you so much from the bottom of our hearts for paying rent all throughout the pandemic" and then she proceeded to let us know that rent will be going up 10%, and she wouldnt let us sign more than a 1 year lease, probably so that way she can raise the rent again legally. I was shocked that doing the right thing got me this result.
My neighbor knows the landlords, and he told me that not only do they own the house that I am renting, they own 2 other big homes in a very nice part of California, and also 1 beach front condo as well. I decided to try and reason with my landlord, and asked her to reconsider the rent hike, especially because of inflation, and how I am still kinda playing catch-up from my 2020 losses, especially since I wasn't even able to secure unemployment benefits for myself during that time. She stood firm in her decision, stating that my wife and I are starting out our lives(we are esrly 30s), whereas her and her husband are worried about their retirement. On top of all this, they are both lawyers. It looks like greed to me.
I've realized more and more that these boomer types are basically holding wealth hostage in a way. When is enough, enough?
Time to leave California.
She probably wants to take it with her
The reality is for boomers, enough is never enough. They are selfish to the core.
Blaiming a whole generation is not the problem as stated at the end of the problem, the problem is all the competitive jobs have left for countries that don't tax as much as the US. They're also leaving China because China has started taxing them as much as we do.
Another problem is legislation that completely bans entire factory based companies from existing here. Even though thanks to technological progress modern production methods do produce zero emissions and no Green House Gases.
Also since they own property in California they probably are paying the government in taxes the equivalent you pay them. There is a reason people are leaving California and states like Pennsylvania and New York in droves.
My best friend lived in New Zealand for the last decade or so, and they've had this problem to an even worse extent where people making over $100k a year were not able to afford housing because the boomers all owned several and were unwilling to sell for anything but massively, massively outrageous prices.
This then led to a very popular saying that boomers would throw around "maybe you'd be able to afford a house if you ate less avocado toast" . Because avocados are somewhat pricey ($6NZD per) as if that would somehow solve the lack of housing available and the ones that are available being horrendously overpriced.
As for your rent problem, i feel for you, that's tough. We have rent control here in Ontario, Canada. Landlords are not allowed to increase rent by more than 1.8%/year and it is the only thing keeping some families in houses. Mind you it's not perfect and seedy landlords often try to evict or get tenants to move out under false pretenses such as renovations or family member moving in. so they can then bring someone new in immediately after the other person moves out with no restriction on how much they can increase rent by
Hiring practices are ridiculous now too. The job that required a high school diploma when boomers were coming of age now requires a master's degree with those same boomers at the top. They don't want to train anymore or give new graduates a shot, unlike the generations before them. Education inflation is a real issue, and no one should have to do so much free work before someone deigns to pay them under market value as a "junior" employee for a few years.
Not only that, but the price of education as well
Back in the 50s you could become an airline pilot on less than $10k
I'm going to be paying nearly $120k once I finish my CPL training, then another $40k on top of that if I want to upgrade to ATPL
rich parents buy their kids' job training
(predator skills) then find they must buy the kids jobs
Don't forget that the now low level job (entry level jobs) require a minimum of 2-3 years of experience. Even if we had the educational requirement the experience requirements is rediculous nowadays.
A lot of my old college friends couldn't get a single company to give them training even for FREE, companies now don't want to train new people and they don't want to hire someone to do an "on the job training" or lower their experience requirements, it's really frustrating having the will and ability to work and find out that bariers are placed on purpose infront of you.
@@mimosakura795 Currently having that problem. With my education, I can work as a curator, educator, designer, researcher, conservator etc in museums, art galleries, natural history museums, auction houses, nature reserves, antique buildings, monuments and zoos. But every job requires at least three years of exsperience. They even often speficifcly ask for people who attended my college, as we're the only one in the country that teaches the skills they desire. I've joined at least seven jobhunting sites now and actively seek for oppurtunities and frequently ask around as well. No luck so far yet though. I did manage to apply for a few jobs, but all were rejected. I'm currently working on some personal projects and doing some freelancing in between for small things. I got all the educational requirements and even some other impressive achievements on my resume, but its the exsperience entry that kills it.
@@megadracosaurus yup, this is the maim thing that's hindering the job search market not to mention other minor things.
But the experience requirements are the main thing that's stopping youth from getting actual good jobs.
Adults would just complain "why can't you get a job like I could 20 years ago?
Like if I could I would!🙄"
Just don't lump us in with them. We were the 1st generation to do worse than our parents, even though the younger ones have it even worse.
- Love, Gen X
I agree with you in general, but I would argue that much of the Greatest Generation had the misfortune of entering the job market during the Great Depression. I know my grandfather was less prosperous than his father had been. I think the IT companies tend to keep their offices in “hip” trendy areas of the country instead of spreading them out to areas with more affordable housing. Edit to add: I am also Gen X. I agree our parents had more opportunities and stay-at-home parents.
Gen x is spoiled right along with boomers.
@colestaples2010 You appear to be some kind of self-victimized troll, making the same blamey comment on many channels. I was a college grad who couldn't find a job with health insurance till my 40s. Difference is, I didn't dare ask or expect my parents to help. Our parents just didn't do that. Stop blaming large groups of others for your malcontent.
I think there's a divide in Gen X, with some being closer to boomers and living a boomer life (just look at all the prominent TERFs who are well off and gen X) and then there's gen Xers who got late to the party and have to sit with us millennials.
You might belong to the second group and in that case, have a seat, we see you, buddy.
@@colestaples2010 Whatever. We don't care either way.
I remember when my parents could buy a full tank of gas, a weeks worth of food and pay all the bills while having enough money to treat me and my siblings to a few bowling games. Nowadays, I earn the same as my father did and can’t even afford enough money for food.
I think I'm going to forfeit. It's not working out.
@@blockinglowtier Well, suicide rates are climbing massively in recent years. A lot of people acting on that very thought.
@@someone-ji2zb this will continue to increase as well.
@@blockinglowtier nien no suicide only revolt
@@blockinglowtier Don't give up, help us make a change! if you got nothing to lose, lets at least fight against it until our last breath.
What sucks is our parents were born and raised to think it is normal to move out and live on your own when your 18, but they don't account for the changes in our lives compared to theirs. So to have those high expectations on teens who live in a fucked up economy is really tough.
Agreed!!
They still had factory jobs that paid liveable wages to people regardless of education level back then.
Assuming of course, that your parents were either boomers and/or older Gen-X like mines.
This
That might be true for some countries, primarily the US, but that isn’t the norm everywhere.
Lota of children remain with their parents until they can afford a home or get married.
My mom literally started to charge me rent when I was still in high school and before I was 18.
Then people wonder why our generation is so depressed. Most of us will never be able to afford a house, will die before retirement since it keeps getting pushed back and the few who live until there will already be full of health problems due to overworking and will live in misery. I already saw this happen with my grandma who is 65, raised her 3 kids alone, worked a lot her entire life and she still lived in poverty and still does. She has to choose between her meds and food every month.
Your grandmother lives in poverty. You must be so proud. I've paid my parents bills from the moment they retired, because family means most to me.
@@jonnyspeed8974 You don't know anything about my family, so don't come here with your stupid assumptions about me. We do help her paying the bills, food, meds but it's still not enough and we are all poor so there's a limit on how much we can help. Plus she's very stubborn and more times than not doesn't want any help. If you can afford to always help your family good for you but we can't.
@@jonnyspeed8974 ok and? the person above might not have the means to pay for those, thats the whole point of the video.
You can, you're just spoiled. You all want to start at the finish line. You want the $500K+ house NOW. My parents and in-laws all started in rough neighborhoods with crappy, inexpensive housing. They kept working, saving and moving up to new and better houses before they died.
My grandma was also very stupid. All of the opportunities they had throughout their lives and they still managed to be broke...
The fact that a basic human necessarily is treated as an "investment" will never not digust me.
Good ol' Capitalism, gotta love it.
@@tim_the_travelerIt’s better than communism
@@SuperSaiyanNaruto2 at least Communism is better then Fascism.
@@tim_the_traveler You basically just said communism is better than communism lol
@@SuperSaiyanNaruto2 I dint know Hitler was Communist. Him and Stalin should of been best friends.
My great grandmother is in her early 90's, and for about a year she was staying with my family with me acting as the primary caregiver making her food, ensuring she was comfortable and that sort of thing. We would often talk and she really loved to tell stories. One of the ones that stuck out to me is that her older brother brother served in the Korean war, did his time, came back and needed a new job after getting out of the army. According to her, her brother had skills in carpentry and was able to walk on site at a construction site, talked to the people there, immediately got an interview with the on-site manager and was hired on the spot. He worked at that company for over 30 years before retiring with massive benefits.
She had no clue why I was and am having so much difficulty finding a good career, because in her eyes it's still as easy as walking up to a business place and getting hired because that's apparently how it worked 50-60 years ago. I'd never wish ill on her or her brother but the amount of times I had to hear her talk down to me like me being unable to find gainful employment was because of my lacking morals or a lack of effort was at times infuriating enough I had to just walk away because that was less disrespectful than risking retaliating to those comments. The mental difference between the generations is staggering.
Tbh it was your home and she sounded disrespectful to raise this issue more than once.
listening to those stories all while you basically keep her alive and comfortable. that's so blatantly ungrateful of her. please keep yourself safe from future critisism and mockery! 🙏🏻
My mother was born in the early 50s and I was born in late 80s.
When I started to look for job when I was in college (late 2000s) she kept saying I wasn't getting a job because I was lazy. i shoud print out CVs and go knock on doors.
While I had sent dozens of CVs by email to actual job offers.
everytime your grandma open her mouth, just leave immediately. always work.
The fields she is referring to still can hire like that. It may take a couple years of hard work, but a carpenter can make a good living even now.
The day my Dad turned 18, he moved to Chicago, he applied and got a job working for a Railroad company. Had no experience working with trains outside of riding them. All he needed was a HS diploma.
Nowadays, you need 2 years experience just to be a cashier.
You've brought up one of the 2 reasons why usa has so much poverty...low wage work.
A high school diploma was a ticket to the middle class.
Now a high school diploma gives you access to minimum wage jobs.
@@scifirealism5943 And minimum wage jobs don't even grant the security of being above the poverty line.
@@agrb2321 correct.
50% of the country works in near minimum wage jobs.
it actually costs more to drive to and from a minimum-wage job now than you'll earn *working the job,* even 10-12 hours a day, if you live in most states.
this means unless you're lucky enough to somehow live close enough to the job where you can get there on foot, or pay for public transportation (which itself is catastrophically expensive now) you'd literally dig your own financial grave trying to work part-time for low pay.
@@hobomike6935 I know. I'm a cashier and it sucks.
It's $25 one way.
As a member of Gen X one of the things I've observed in the Baby Boom generation is a tendency of Boomers in the highest earning and most powerful job positions to not retire. This is effectively blocking younger people from moving into these positions before they reach retirement age.
Why would anyone who is earning the most and having the most responsibility want to step down and retire?
And? Excuses are like buttholes, everyone has them. Make it happen or sit their and cry the victim cars. boo hoo! foh!
@@rockingredpoppy9119 the world doesn’t evolve about usa. Why americans you only talk about yourself, this is a world wide problem!
@@desertmoonlee6631 U.S.A = merica the great......
U.S.A. is slowly losing its relevance on the global arena. Actually the slide began after humiliation in Vietnam.
GeoPolitics fwks all humanity. You are not special.
Then again your country elected a grifting reality TV fellow who can't pay taxes or abide by regulatory findings.
In Mexico its pretty much the same: wife and I (shes a psychiatrist and Im a aesthetician) are paying mortage for our own apartment and were barely making it, my life long friends are, on their majority, also professionals with degrees, but some living with their parents or RENTING a department (not a house, department) with other people.
Living today is so hard and so expensive.
My parents were able to buy their home for $91,000 AUD, my fathers wages at that time was $60,000 per year as an electrician for the Navy. That same house is now worth $800,000 and that same job still pays $60,000 per year, and then my parents wonder why I am not getting married or bothering going into debt slavery just to buy a tiny one bedroom house in the middle of no where.
Show them the math. Lay it all out, explain your concerns about being able to support a family, and ask them exactly what they think of it. Maybe this will give them an idea of what you are up against.
@@user-kl8lo6rj5iI'm going to do this thanks for the hrlp
A large part of the worlds population live in shacks with dirt floors. Stop whining.
My (also Australian) father claims that wages have increased 10x since 1992. It's amazing what you can't see when you don't want to see it.
@@shakinbottles In my experience, they just screamed over the top of me and accused me of being a Nazi (?).
My husband and I are older millenials. We did well in school, both of us getting 4.0 for associates and bachelors. Worked and paid for our bachelor's degrees out of pocket while starting a family....my husband got masters (with a loan less than a used car) and we still cannot afford a house. Mostly because i stay home with our kids. The schools in our area are so bad, their scores so low and the kids are so uneducated, we couldnt justify me working rather than schooling the kids myself. We chose the kids education over a house. We live in a 800 sq ft hunting cabin with no bathroom (outhouse and sink baths). All of this was or choice. We stand by it.
My boomer father says i married a loser because we dont have a house yet.... the audactiy of that generation, and they call us entitled and lazy.
Coming from an uneducated equipment operator who owns a house as a young millennial. Clearly you guys made mistakes.
@@vizzo1138Your job will be gone sooner rather than later. Better start saving up, assuming the whole uneducated fiasco doesn't get in the way.
@@vizzo1138 or maybe they just weren't quite as fortunate as you? I don't understand the smugness of such comparisons.
@@SlumberBear2k Slaving away 13hrs a day in the summer heat and winter freeze is not fortunate. Choosing to not have children till I was established is not fortunate. It was just decisions that were made properly.
Most people lives suck because of bad decisions. Get mad about it if you want.
you need to do an addiion you build yourself to get indoor plumbing at least-thats how our parents parents ended up in multibedroom homes with indoor plumbing they tacked on one room at a time
Another important thing to note about the transfer of inter generational wealth is that for many people, much of the wealth they may have been planning on passing down to their family will be eaten up by the healthcare industry during their end of life care especially. Assisted living facilities and hospitals are relentless when it comes to squeezing money out of the elderly.
They're relentless when it comes to squeezing money out of the poor and young too.
"What you worked for all your life will be eaten up by health care in the last 4 years of your life." is common knowledge.
Exactly. People live longer, which eats up more of the potentially inheritable wealth (esp. with increased healthcare costs as people age). And then when it is finally passed down, the people inheriting are often older as well (in their 40s & 50s), so it still doesn't really help the 28-year old first time hopeful home buyer.
@@NekoMouser Hang in there. Keep saving as much as you can. All bubbles break. The housing bubble will brake sooner or later.
The wealth will also be eaten up by inflation. If already is.
I live in Romania and here most of us have the reverse situation: dirt poor boomers and millennials who are doing better than their parents, but not good enough to keep up with the expensive lives we live today. So we're left with this conundrum: If I'm in my thirties, how do I afford 1-2 kids while my parents are aging and can't cover their expenses. We're basically sandwiched between the financial needs of the generation before us and the generation after us. Many can barely take care of themselves. Others are not having kids so they just support their aging parents. Others neglect their parents to focus on their kids. And then there's a minority who earn well enough to do both.
If I had a dollar for every time boomers say millennials are lazy...I could fix the economy they broke.
More than that, you could fund everything so nobody is poor and everyone is living middle class, and fix the economy if you had a dollar everytime you heard that!
@@zenberryflood indeed!,
..plus we'll have more than enough $ left over, to order a pizza! It doesn't get any better! 😆
Just saw my Boomer grandma post that Gen Z is lazy. They blame everyone but themselves for the shithole we’re in.
@@XanderShiller don't you mean avocado toast? fake millennial spotted psssh
Well here's a dime. Ano another one for gen z or wherever we are. Lazy af.
The problem of a millenial generation being strained for a home isn't just a western or chinese problem, its a problem in the rest of the world. Here in the Philippines, my siblings including myself still live in our family home even they are in their late 20s now. The reason: expensive homes due to high owned residential areas and purchasing power outpacing the income. It also became a hindrance to start families.
Everything mentioned is predicated on the notion that young people can't afford to live
@@alc7084 ... yes. *Thats the issue.*
The problem is capitalism
Hindrance to start a family, interesting point. It does seem like a big sacrifice of time and precious resources, all to give a copy of you to do the same.
There doesn't seem like there is a compelling reason to start a family in the modern world.
Here is USA the smart young people, including married couples, moved back in with parents to get out of debt. The rest are living on credit in massive loans ($100,000+++) or already debt free. Lots of people get rejected from marriages or relationships due to massive student loans. PLUS recession is incoming. PLUS Buying a home now means competing with corporate real estate firms offering big money CASH for family homes. Yeah boomers had less worries
Both of my parents fought viciously with their siblings over what my grandparents left behind. They then told me very directly that they were not leaving me anything.
If that isn't peak boomer I don't know what is.
Disown your parents.
@@Decoffeee-ky4ch 😳💀💀
put them in nursing home with their own money
My sympathies extended. Greedy b*stards, even for THAT cohort.
@@someone2084 That's basically what the parents are saying they'll do
It's crazy that best generation created the greediest generation
There is a quote that say: Hard times make strong mens, strong mens make easy times, easy times make weak mens, weak mens make hard times.
@@Pengouinnmens?
@@thetrueking4265 mb im not a native english speaker
The greatest generation is highly overrated. You can see how they also created some of these problems. But regardless, Boomies took things to a whole other level and cannot simply blame their parents or anyone else for it.
The "best generation", lol.
Im a milIennial and I work in a field where I have to go into peoples houses, millienals always treat me with respect but boomers always give me so much disrespect. You can see whos really entitled and spoiled rotten and whos not.
I’m a gen z and I work in retail. And not once have I been verbally assaulted by anyone in my age group (I’m 25) or near. It’s always the people over 50 but yeah we’re the disrespectful ones 😂😂😂
Respect is earned; not an entitlement. If you treat others with decency, they will respond accordingly. There are arseholes in every generation.
@@bansheewhiskeysays the boomers who challenged Vietnam and will speak poorly about Reganomics while also benefitting from those policies. Also, the “greatest” generation is a fallacy of our grandparents who basically just cleaned up what the ruskies died for, not fighting nearly as hard as the Eastern front but want to be seen as they did all the heavy lifting in WW2. Boomers and their parents will always pat themselves on the back for accomplishments handed to them while belittling their children and grandchildren. Boomers are the more narcissistic generation, love themselves and hate anyone not them.
Millenial here. Yea whenever someone has to enter my house to do maintenance or something I always just let them do their thing, bother them as little as possible, offer help if needed, and offer something to drink if they want.
They've been poisoned by lead, its noticeable in a lot of patients I treat. I stopped considering them as humans and it gets a lot easier to work with them. Barking dogs and squealing pigs the lot of them
Being in Gen X/Z is like being handed the bill to a party you didn't get to attend.
Basically Gen X and above.
As an X having to be a full-time caregiver to my Mother.. I can say it is EXACTLY THIS.
Not millennials?
@@vegbeg9170 Gen X is almost as bad as Boomers tbh
@@spydude38 'the only thing stopping you from success is you'. Anybody with half a brain knows that!
Those of us with MORE than half a brain, however, realize that those words are only ever spoken by people who were born priveleged and/or got really lucky. Success is 50% connections, 40% Luck, and 10% hard work. Stop giving yourself so much credit.
We don't blame Boomers for their wealth. We blame Boomers for not thinking about generations after them.
Do they ever?
Agreed. They are just a bunch of narcissists who want to hoard everything and give themselves greater security. They think younger generations are selfish and entitled but I honestly think it is them that have these traits.
@@robertmcduck6712 They have stolen the whole alphabet at this rate hahah smh
Not worth supporting anyway.
@Roxygen396 lol, that is your biggest problem now. Not lack of education or good tech jobs, just gaypeople.
The generation that ate well- life is like a buffet. Left the rest of us to fight over their scraps and crumbs. They didn’t even bother to clean up after themselves.
Puss puss.
The worst part is the entitled boomer who ice skated through life, then says that they aren't saving anything for after they're dead because "they want you to make your own way", even when their own parents died and left them everything.
The worst part is you just making people up that don't exist
@@jsebby2284 The sad part is boomers like you who cope and pretend that I don't know people like this. Just look at Bill Gates, who is going to donate his entire fortune after his death, leaving his kids nothing.
You are so friggin delusional. I lived in the suburbs yes, but my parents couldn't even pay for my wedding let alone leave me an inheritance. There was such a thing as being called house poor. Owning a home in the suburbs that you could barely afford. BTW I live in a Hud subsidized 55+ community on my social security alone. Far away from the suburbs of my youth. Get real.
@@user-qf8zy2gf3l The fact that they're dead and don't need it anymore, that's what. Dumb question.
@@jsebby2284famous actor I believe did exactly this.
Born in ‘97 so I’m on the cusp of gen Z and millennial. I graduated with my mechanical engineering degree right in the middle of quarantine. It took me 3 YEARS to find a job where i could even use my degree and I am not even paid enough to cover my debt from school. Everybody thinks i should be making so much money because of my degree but I simply do not because now an “entry level” Job is 5 years of experience. Something is so severely messed up.
Honestly!!!
My mom keeps saying I should be making 120k with a biochem degree
Like no
I can't
I've only been working 3 years
I am in a pretty similar situation, but I am a biochemist instead.
You want to live together I’m serious wya we can be roommates
@@LumTheAlien
What makes you consider yourself a biochemist?
The title or the degree?
(serious question, I have my masters now but its not in my title and my mom/sister just tell everyone I'm a biochemist when I feel like I'm not)
@@SPYgirl199812 Degree, I have my BA in Biochemistry
"Kids these days have it so easy"
No, they don't. And even if they did, THATS THE POINT. That's why you have kids! That's why you work hard, so the world you leave behind is better than the world you were born into!
If you have kids in todays times you are a SCHMUCK!
Ikr- they're so dang selfish, and clearly don't understand that their actions have consequences.
At this point I'd feel more guilty than joyous if I ever brought a new life into our corrupt world today
People have kids so they can extract love from someone who can't escape. After they're done using you for that, they have no use for you.
@@benjamindover4337 true for 90% kf parents today.
I think the Boomers will surely be remembered by history as the worst generation since the Civil War.
LOL wait until your history is written!
@@patland1762 Boomer detected
I saw a story of one old man who was instantly radicalized and realized how much worse we have to live when he heard people my age ask what we want to do with our future or what we'd do with a large sum of money and...our dreams for our futures were the same as their parents who survived The Great Depression.
Home ownership. Not being in debt. Able to afford having kids/pets without starving. Only having to work one job. Being able to afford to take a vacation.
All these things that just seemed like an absolute given that other generations never had to question if they could afford...we DREAM of achieving before we die.
Well basically just the one generation. Anyone who lived at any point in human history before mid 1900s had it a lot harder.
@@editor4201 Yep. Boomers and early Gen X won the historical birth lottery. That’s a large part of it.
@@k.c.slawncare6046 late silent generation too.
Hence why i invested alot of time, energy, effort into living outside of the usa when the time comes. it will allow me to have the lifestyle i want simply b/c the cost of living will be much cheaper. granted, it could be too much of an inconvenience, sacrifice, etc for some...but Ive done alot of traveling to become familiar, comfortable, etc in various places in SE Asia, and Mexico (havent been to any other Latin Amer. countries yet, but im certain ill be able to adapt quite will given my experience).
Why you POOR BABIES! Lazy good for nothings, is what it sounds like.
It's not at all unusual for men to work 60-100 hours per week at jobs, and to earn the income they need. And men may not take vacations for YEARS in order to accomplish the goals they have set out for themselves.
WOMEN on the other hand, quite commonly work minimum numbers of hours. Why bother working more? Some MAN is expected to provide her with all the things she wants.
That's not true of all women of course. But especially after having children, women feel no shame about demanding paid maternity leave for months ----years even, when husbands may well be scrambling for overtime to fill the hole in the family budget women have created by leaving the labor force ----permanently, quite often.
I always love hearing about economics across the past 70 years because it's effectively "death by a thousand cuts" to the newer generations.
blame it on corporations and institutions held in place by rich white democrats.
Got you your 500th like plus completely agree with you
That’s called being nickel and dimed
@@sew_gal7340 You mean rich white neo-cons
@@sew_gal7340 that’s just the last decade or so before that those corporations were propped up by neocon boomers, both parties are to blame for this
My parents who are both in their 70s both were able to retire from their very blue-collar public utilities jobs in their 50s. They both get substantial pensions and each own massive, expensive homes. My Mom who never made more than $17 an hour at the peak of her career now drives an $85k pickup truck and spends all her time traveling. My parents are burning through their wealth and I don't expect to see a penny of it. Buying a house in those days was so easy that my Mom boasts that she had never had to rent. My parents were home owners before they were 20.
that sucks, man. Pretty evil how selfish and unaware the older generation is.
Same case for my parents. I worked 60 hours a week and earned 20K above the average US salary and still never came close to their lifestyle.
They were government workers with gold plated pensions.
@@maxbarkdull875 no, the younger generation doesn't want to work for what they get, they just want it given to them. Waaaaa!
@@rockingredpoppy9119 The irony of you posting a typical apathetic, selfish boomer comment like that on this of all videos is hilarious to me. You're totally incorrect but thanks for the laugh either way.
I find it problematic that so many people are college grads but hardly anyone knows how to do anything practical. There is a critical lack of people with basic skills in carpentry, electric, plumbing, gardening, etc. We need to encourage people to get technical skills at two year programs. Last month my refrigerator's icemaker broke. The guy charged me $300 to fix it - in 30 minutes. That's $10 per minute! Meanwhile my neighbor got a degree in art history. He works as a pizza delivery driver.
Yeah because everyone was pushed into university. It's all well and good telling people now but the damage has been done.
I saw a news clip from Australia about this. A factory manager complaining that too many locals want those 'work from home jobs'. You cannot run civilisation with everyone trying to take the easy route.
Also consider the effect on long term growth; without the security of owning your own home, fewer and fewer people are going to start businesses or make anything but the safest possible investments. Hard to start a business in your garage if you don't have one.
I'm unemployed but I'm lucky enough to run a small etsy shop using my parents' garage as a workshop, and while it isn't great, it's a work space which is far more than any of my peers have. I'm scared of losing that when I move out simply because I'm probably going to be moving into an apartment that doesn't have a space where I can spray paint without worrying too much about overspray or even just a hose to rinse out silk screens. I don't exactly enjoy living with my parents but the only affordable alternative seems worse than what I have.
Owning your own home doesn’t provide security. Renting is the most appropriate option in most cases and is much less risky.
No liability, no maintenance or repairs, no regulatory compliance, no rates paid etc
@@williambonac8157 Where I am from apartment prices double in the past 2 years. The owners can kick you out whenever they want... And if you can find an apartment nowadays that isn't a piece of trash with mice and mold, you are more than lucky.
@@davidfrend think about when people cant even live with their parents.
Also in a world, where several global supercorporates own everything and push every small business out due to their advantage of large scale production economics...
More and more people work for one billionaire, while live in one of 1000 houses owned by another billionaire...
My boomer parents just don't understand why it's so hard for younger generations to come up. I remember my first job I was making like $25k a year. My mother just "didn't understand and was disappointed" why I wasn't buying a house and wasn't married yet????? They aren't a learnt generation. My dad was a high school dropout and my mother had an associates degree. They owned 5 houses and traveled all over the world.
Wow. they wouldn't think much of me. This year is the first time I might make $15k. XD
Why do you need to buy a separate house if your parents own 5 is what I want to know if I had the wealth to own that many houses I’d be happy for my child to live in one of them
Oh my god, sorry for you pal. I hope you’re at least getting one of those houses eventually.
@@SebastianLopez-nh1rr I honestly don't want anything from them.
@@sirsurnamethefirstofhisnam7986 not HIS and not MINE. Glad you have parents that really love you and didn't just pop out kids because it was the "cool" thing to do at that age.
Had an older guy tell me that youth was wasted on the young. I told him that wisdom was wasted on the old.
Hahaha I will use this
Gold
that’s a good point
well, he was wrong (not to mention unoriginal) to say that. But wisdom is not wasted on the old, or anyone else -- wisdom happens in many ways, at many ages. And sometimes doesn't, which seems to be that older guy's case.
Getting old is just the inevitable end result of making fewer bad life choices than those who died young.
All you have to do is have a chat with them. Unrealistic, self-centered, entitled, inundated and petty. It pisses me off that they cannibalised their own children and still hold power over us and exploit it without hesitation.
🤣🤣🤣
I've been telling my parents this for decades. The greatest generation sacrificed for the baby boomers, and then the baby boomers got spoiled and raided everything that was left.
But did they ever heed your words?
@@lexquezon9009 in _this_ anti-neuron-function hellhole? Cute joke.
Actually boomers didn’t grow up with much, they faced the Vietnam war draft, had several recessions as soon as they start their careers, hit massive inflation in their prime, had ultra high interest rates, and when they had kids, they spoiled them, especially kids born in the 80s and 90s. These kids sucked off their parents as long as possible, and now these children in adult bodies blame their parents for everything they are too lazy to achieve . The entitlement is unreal! Millennials have no clue how good they had it, and the generation that was once cocky when starting their careers, are now feeling the pain, and instead of manning up, they whine like little babies and point the finger at their Mom and dad. Sooooo pathetic! I have lost all respect for millennials, and GenZ is even worse. Sorry, but you folks never grew up. You are adult children.
Younger generations than the baby boomers are just as spoiled as you think the boomers were, and more than likely a lot more so.
@@mcmlxii4419 EXACTLY
These days in the US, there are a lot of parents being convinced of the idea that placing hardship on their children somehow makes them better people. It's somewhat popular to donate your money to charity upon death instead of shifting those finances to the younger generation for example. Furthermore, parents tend to hold onto their wealth with an iron grip until death. If parents used their excess wealth to fund their children's early lives, then this transfer of wealth would be much earlier and give younger people the stability needed to fuel an economy. Sadly, boomer ideals are directly contrary to what is healthy for an economy (least of all their own children). This really makes the future look pretty bleak tbh.
Many older folks seem to believe in some kind of social darwinism - that if you can't make it, you don't deserve to, that being cruel and uncaring will make people strong, and not, you know...cruel and uncaring. If those parents expect their kids to care for them in their old age, they're in for a shock. The less extreme view is that our society is meritocratic, which isn't as sinister, it's just untrue.
What’s even worse is that their greatest gen parents gave them literally everything in support and then boomers decided their own kids shouldn’t get the same treatment. if you look at school costs it is literally better to have your parents to have no money (bc then u get fed loans) than have parents with some money who don’t pay towards it. it is legit a disservice to not pay for kids education if you can. the greed of boomers quite literally will doom their children to poverty esp when there entire inheritance is used on 2 people in assisted living for 5 years
My Dad figured it out maybe five or ten years ago. I sat down and did a job search with him. I showed him my wages vs. mortgage costs. He loves math. He started going over property taxes and fuel costs and food costs and at the end of it he was trembling with anger and then finally he beat the table with his fist once and left for a drive alone.
He then adopted a new policy called "giving with a warm hand". I already had at least half of my inheritance doled out to me as cars, assistance with travel to new jobs, assistance with my kids.
Boomers aren't evil. They just don't understand what they did.
@@theviolator793 I'm truly glad you had a great dad. It's true that boomers aren't all evil (some kinda can be depending on how you define evil) but it's their unwillingness to understand that really kills the world. Actually there are a lot of boomers who genuinely believe, and cannot be convinced otherwise, that they were just incredibly hard workers and that everyone else is lazy or worthless. Many parents were accidentally abusive and their unwillingness to understand goes hand-in-hand with their inability to face the part they're playing in increasing suffering. It's more convenient to look away even if you know there's a big problem. If you try to explain the issue to them, they often tend towards avoiding the topic. Egoism is a cornerstone of boomer culture and many parents genuinely want to believe that they're doing us a favor by withholding love and support of all kinds.
@@theviolator793 that’s awesome man. It’s just I’d say the boomers at the top knew what they were doing. It’s just people like your father that we’re trying to be decent people and others ruined their kids future. It’s sad but I’m glad to hear a story like yours.
I have a Boomer neighbor who owned a construction company before he retired. He constantly complains about the “good old days…” but immediately follows it with surprise at how millenials can stay sane in today’s economy.
So like, he says the good old days sucked?
@desuretard8654 I think he ment that the good ol days had a better economy, and now its bad and effecting upcomming generations
At least that guy doesn't sound unhinged and out-of-touch. He understood that the good old days are not the days of today and the newer generations are fucked.
@felobatirmoheb4884 my Grandma has said for years, and I hate to say she's right, we need another major war to reset this sh¡tshow, we don't need McMansion's, we need the little wartime houses like they built during WW2.
@@braydons5623 with current technology, and geopolitics, the only way to have this 'major war' is for the US to face off against a near peer. Russia has shown itself to be a paper tiger, that leaves China. It would not end well for either of us, we would not have a golden era of post war prosperity like the late 1940s.
Crazy that people buy homes as investments and not as places to house their family
Capitalism inevitably leads to monopoly and an unfair economy unless the state does something but nooo that's what communists do 😂
I also just hate the general lack of empathy amongst the boomer generation. Not even towards the economic situation, but just life in general. Most boomers truly care about nobody except themselves and their family. And the few boomers who do care are too late and outnumbered to do anything about it.
I believe almost all of the issues with our modern society has some roots stemming from this inability to care for the well-being of all living people. but more importantly, their inability to care about the future of human civilization beyond their death.
@@aarqaman that is one of the dumbest comments I’ve ever read lol. I’m going to assume you aren’t very educated?
@@lucrative6477 what education have to do with this
Spot on. I’m a late boomer/early gen-Xer. The boomers are the last generation to benefit from now defunct socialistic policies that helped create and enrich a robust middle class: the boomers believed that what they got was due solely to their own efforts (a lie perpetuated by right wing propagandists) and they fell for the political bs that has lead to policies that have destroyed the middle class. And they also let global warming go unaddressed: that will devastate future generations.
I think most boomers don't even really care about their familys.
Their bloodline will die out eventually despite their best efforts in only carring aboutvtheir families...afterall there are to future generations to be born if there are no people able to afford living
I truly cannot imagine a world where I could buy my own house.
Houses are viewed as financial assets, not places to live. It's sickening and I cannot wait for people to decide enough is enough
All want (need) is a small house with a garden so I can grow herbs and veg garden and have a dog. It's seems so out of reach and it's depressing. It shouldn't be so difficult to have the basic need of a roof over your head a safe space with the freedom to live your life how you want. Also if we of are forced into renting rather than buying they are not living their life how they want no decorating no home improvements no pets (uk) the rental market is the landlords property it's not your home ever.
That's what I'm saying all the time, too.. Really sad times to be young and aspirational regarding dreams of housing.
Basically, your being kept as a boomer slave
A house is more like "A place where I may spend a few hours a day trying to get some sleep before I go back to work."
Nobody even lives in most of the houses in the United States. They’re empty or airbnbs. Suicide fuel
As someone born in 1989, I feel totally screwed on ever being able to build wealth. Not to mention feeling hopeless about getting a house, ever getting out of debt, or building retirement. My generation is much too paycheck to paycheck due to the high cost of living and wage stagnation. We just can't keep up.
Born September 19 1989 Same
born 1992. spent alot of time around my great great grandad growing up, he was born in 1902. told me alot about how it was over the years and waves of propaganda from the government. some of my grandparents are honest. boomers had the easiest and most available economy. 1980 minimum wage was just over 3 dollars. a new corvette was 10 to 15 grand. coke was a nickel. 60 cokes per hour compared to currently 3 to 5 depending on where you are. just over 4700 hours of work for a luxury car compared to 14000 hours worked today. 4200 hours of work would get you the cheapest new car on the market. Minimum wage then was equal to around 80 to 120k per year today. 1980 was going into a recession as well. 1981 to 1982. coke is 25 cents, corvette is 18k. at their absolute worst, they still made between double and quadruple. and thats just minimum wage. almost noone made minimum wage then. this would make at the most conservative measures around 20 to 30 dollars minimum wage to account for inflation today to equal their recession.
@@r3shap3r Really insightful comment, thank you for explaining the history of the inflation and stagnant income increases. I will use this next time a boomer tell me to work more:)
I was born in 71....I feel the same. The things my folks could do were impossible for me in the 90s when I was a 20 something. I've never owned a new car, never travelled in my 20s. Had 2+ roommates till I got married. My folks owned new homes since their early 30s.
Born in 1991, I feel you guys.
I'm 53 years old. As a young boy in California, I would often hear older people justify spending with the phrase, "we owe it to ourselves." We'll be paying for that sort of thinking for a long time to come.
Yep, hundreds of trillions of dollars in debt later...
Ah yes, my favourite solution for an entire generation’s suffering.
“Just continue to suffer for years until someone you’re related to dies and hopefully leaves you a fortune.”
Genius.
Something that wasn't even touched on in this video is how much the Boomer generation is squandering their wealth because predatory assisted living/retirement corporations bleed them dry for every last penny before they die. All that money being sucked up into the bank accounts of some boardroom that will never be seen by the next generation. So many boomers are dying penniless or in debt because they unwittingly signed over everything they own because Tom Selleck told them a reverse mortgage is a great idea.
It is genius.
It allows money to stay with "desired" groups via inherited wealth you see.
You know what I'm talking about.
Yeah it's pretty fucked, especially because a lot of boomers are so twisted on the inside from a long life of unprecedented selfishness that they often sign away their amassed fortune to charity when they die to help with the deep seated guilt...
And that's exactly why the pulled up the ladder. It was by design...but it's hurting the masses, not just the "undesired" groups. Just like the free land for Europeans. Nobody else got free land. And now the idea of Land Back or reparations (beyond those already paid to europeans for ending chattel slavery) is totally rejected and there are no [more] "handouts." The people who built the country and the people who own the land get nothing. Meanwhile all that land is still being passed down for the European families. Racism is also the reason the boomers have blocked fair public education funding, rent control, livable wages or socialised medicine. If they would confront it we can all get free.@@KutluMizrak
It was my mom for us. An admin assistant with a 2 mil esop account. Its in stocks and bond until my dad kicks it, and he doesnt spend anything, but i would much rather have her back.
Entry-level opportunities have also dropped off the map. Manufacturing gave people that were willing to work a way to start climbing the social ladder and give their kids a leg-up. That's mostly gone now, and all of the excess profits from outsourcing goes into the pockets of executives and shareholders. That started en masse around 1970, and it's been downhill for the people already at the bottom ever since. I believe that the frustration resulting from that has led to a lot of the violence in the US that politicians love to blame on all sorts of other things. People are angry at the entire system.
It's also worth mentioning the high increase to automation that has occurred in that time period as well, which arguably has led to even more domestic manufacturing job losses than outsourcing. It also explains the phenomenon of the USA having an increasingly larger manufactured goods output than in the 1970s while having a significantly smaller and falling amount of workers in manufacturing. And of course, conventional protectionist legislation has basically no effect at reversing automation-caused job losses.
Completely agree. More productive, higher gdp, somehow all these people are still struggling. The frontier is coming home, and economists are trying to rationalize the slums next to skyscrapers now seen in the west, which is the long time norm for countries we've outsourced to. They show you the success on TV while they crop out the failure when it suits them. Then if you step out of line they threaten you with it. Of course we've seen this all before.
^^THIS!!!^^ ::bangs the drum loudly::
It's not because of "corporate greed". Consumers demand more things to consume, the market responded with automation and offshoring to exploit cheap labour.
After the Great Depression things like the Hoover Dam was built, it created huge numbers of jobs because manual labour meant that anyone with a spade, strong back and no skills could get a decent job.
Today if you infrastructure spending you have one man with advanced qualifications operating a 3 million dollar machine and doing the work of 500 men with spades.
I slightly disagree. Modern manufacturing is programming. Everyone has access to a computer or at least a smartphone and all the resources necessary to learn it for free. That's the entry level opportunity in 2022. No, the problem isn't income or jobs, it's HOUSING. We need to build more houses so and stop seeing them as investment vehicles but as utility instead.
My father-in-law left school at 12 years old. He grew up helping his dad's fruit stall business. Decade later took over business and made real estate investment. Now a multi-millionaire. He told me exact same time, people these days dont have the opportunity they had back then
Nice story, but it simply isn't true. I know a guy in his mid 30's who came here from El Salvador about 6 or 7 years ago without ANYTHING, and now owns a bunch of rental properties. He just got his hands on another about 3 weeks ago. He's not a millionaire yet, but makes a decent living. Every time you see that guy, he's working and not sitting around playing on his phone, dying his hair purple, and complaining about racism like the education system has taught Western kids to do. Is it harder these days? Yep. But nowhere close to impossible like people some people want you to believe.
@@survivingthetimes You poor thing. Refusing to acknowledge the wage stagnation data, the inflation statistics, the current housing crisis, outrageous healthcare costs, and ridiculous higher education costs so you can go on rants about the younger generations.
Why do you even pretend that you have a point? Why not reply "get off my lawn!" to every comment?
@@TimErwin I never said that those issues didn't exist. I just alluded to the fact that they are nothing but poor excuses, and success can be had if you stop acting like a victim and go make that money.
@@survivingthetimes Again, with all the factors mentioned, "pull yourself up by your bootstraps" isn't going to work for 99% of people right now, no matter how much they want to succeed.
But again, you know this. You just want another excuse to bash young people. Well, everyone needs a purpose, I guess. So just keep posting your insightful comments!
I bet your father-in-law would be just as successful, in modern time. Successful people have the right mindset, the attitude, and savvy with finance. The good news, successful skill sets can be learned and we all can be relatively successful.
Boomers: want to sell homes for 150% profit
Also Boomers: why all these kids still live at home 😂
This reminds me of an old Danish saying:
"The father marls, and the son starves."
In past European agriculture, marling was a common method to make the soil nutrients more available, resulting in improved crops. However, after some years the soil would be nutrient-depleted, and thus very poor, leaving the next generation with a harsh future for the field. This feels similar.
There's a similar saying in Arabic:
"The Parents eat sour grapes and the children grimace"
@@amogus694 That seems to be a very old saying in Semitic cultures, I remember a similar saying going 'The father eats sour grapes, the child gets blunt teeth'.
@@the_tactician9858 this is from the old testament bible, which got passed down and altered from different cultures
That proverb also exists in a similar way in German: "Mergel macht reiche Väter und arme Söhne".
@@Pizzacheese10
You're right, it's just a Bible verse.
I just looked it up.
Its weird how light heartedly we talk about the fact a lot of us won't ever own a home and never experience a secure roof over our heads. Pretty bleak reality, it's been a fundamental part of human existence
There's a way out of this, want to hear it?
@@raam1666 What is it, Oh mighty Jerry of UA-cam?
My retirement plan is the collapse of society and the sweet release of death.
@@raam1666 if you say "Jesus" I'm going to slap you with a boomer's colostomy bag.
@@scruffymakaveli6870 suicide obviously! :D
I’m a real estate agent. The past couple years, most people under 40 who were able to buy a home had some help from parents
It was all done by design by the Boomers. They wanted to FORCE millennials into renting. How do you do that? Housing crisis and massively increased illegal immigration. In 2012 my rent was $450 a month for a crummy studio in downtown Portland, in 2022 that same apartment is now $1200 a month. Roughly a 300% increase in 10 years for housing that is for low-income earners. Wages haven't increased 300% in that times, they've stayed the same. There are over 45 million illegal immigrants in the US as of 2022, that is a LOT of extra job and housing competition for young Americans to compete with on top of all the Americans and legal immigrants already here. And it ALL started with the Boomers. The Boomers even made a deal in the 80s to legitimize tens of millions of illegal immigrants on the condition that the border would be secured, and illegal immigration wouldn't be tolerated going forward. 40 years later and we have more illegal immigration than EVER in US history.
same, i work for one of the biggest property developer in my country. we tried to market the property digitally.
and we failed spectacularly, because the people that are on the internet which are the younger generation just simply do not have money to buy property. and there is only a handful of people over 40 that have the money are on the internet.
Can confirm as a non-real estate agent. My sister and her bf needed help from my parents to buy a house, and a friend of mine lives a couple states over, also had to buy a house with help of their parents. Thankfully their parents were more in touch with reality and weren't left to deal with paying the mortgage alone, unlike my sister and her bf who now live paycheck to paycheck with not enough money to go around to actually maintain stuff like their car.
What about people under 30?
@@6.2Slomaro gotta move out of your comfort zone. Maybe to a cheaper state. Most people from every generation relocate to look for a better life, some even to a different country.
The problem is not one generation screwing over the next. (Except with social security) The real culprits are property zoning and regulation, over-regulation of products and services, allowing giant corporations to nearly monopolize industries, the existance of welfare, especially corporate welfare, government loan programs, and our failure to abolish the Federal Reserve. All of these factors are what have caused the artificially high prices of everything. This is not an old vs young or a left vs. right problem. Unless we begin to unravel these policies, starting at the local level, the cost of living crisis will continue putting home ownership and affording to have families and children out of reach for ever- increasing percentages of people.
Amen!
Atlas Shrugged, is hitting a little too close to home. The more the government takes to give to someone else, the worse things get.
Incorrect… you clearly miss the point of the video.
Decades of boomers controlling politics and the economy are what got us into this mess, so yes, it is about one generation doing this to the rest
It must be nice to have parents or grandparents that actually have money to leave you when they pass away!
As someone with no kids, our money is going to our favorite charities...
@@maxxomega6599Make DavidTreeman your new favorite charity! Lol
@@maxxomega6599do you need to adopt someone ? Just asking for a friend
@@jesuspickg8929i am the friend by the way
And yet, my grandfather died and I haven't got a single cent, just a shirt (which I won't wear because it still has his scent and I miss him)
My great Uncle, who lived in London and worked as a mailman all his life, died last year at age 84.
After he died, we discovered that he owned 8 houses/flats in London and a few garages (11 if I am not mistaken).
I don't live in the UK but nowadays if you worked as a mailman you would probably just be able to afford a normal rent !
Who’s getting those flats?
Most young people born in london will have to leave the city they grew up in as they couldn’t hope to buy a home here
I used to work as a mailman. Im grom the US. The Post Office is going down the drain here. Too many turnovers.
To the government for the most part
Wait what? Do you understand economics fundamentals? If you rent a house you will increase the rental offer on the market. If the offer increases more than the demand rent prices will go down
This is why articles that blame young people's financial woes on avocado or takeaways or whatever are just silly. Anyone who sees the bigger picture knows that far more is going on. Here in Ireland the housing and rental crises are particularly bad, even if life is pretty good in other areas (relatively speaking). I feel like I'm slowly building something for myself now but it's tough with high rent. And going from bad wages to good wages is a lot easier than going from good wages to 'I'm making enough to afford a mortgage'.
None of this means young people can’t improve their financial situation significantly.
@@mrb152 and none of this means, the younger generations are at fault for the hands they were dealt with was their own fault. The deck IS stacked up against them. Can someone build wealth in spite of that, YES but thats significantly much harder today than in the days of boomers being “young”
@@mrb152 actually, thats exactly what it means.
@@mrb152 the idea that circumstances *can be* overcome by willpower and therefore it's one's fault if they don't, doesn't work out for everyone statistically speaking. Yes one can get out of a situation but that is the exception not the rule. What does statistically pan out is robust social systems like in the Netherlands where you can go to get help and stay afloat while being able to use your energy to focus on improving your life rather than having to worry about maintaining day to day survival.
The mortgage situation is particularly galling in Ireland since, long term mortgages work out far cheaper per month than renting.
Ladies and gentlemen we ain't getting an inheritance let's face it.
Don't forget that cost of education. My grandmother never understood why I didn't just pay off college with my summer job the way her kids did. I tried to explain "Well nana, they'd pay me $10 an hour, x 40 hours per week, that's $400 per week. Let's say $300 after taxes. Eight weeks of summer. Let's say 10 to be generous, and assuming I literally do not spend a dime, that's $3,000. Tuition and room and board this year will be $20,000. At my state school.
EDIT: The numbers are from 2005 when I last had this conversation with my grandmother. Rest assured, she is long since dead. Penn State, however, continues to be one of the most expensive state schools in the nation. God help you if you're born in PA.
My grandfather never understood why I didn't just walk into an employer's building and ask for a job. Thought I was lazy for being jobless 1 month after graduation despite the fact that I was applying and interviewing online.
When I tell my grandparents I am moving abroad for work they always ask 'why?' and I never managed to explain them that if you don't hold a high position in international company paying in euro or dollar you basically will never afford a down payment for a house.
Andrew: I’ve been hiring engineers and other professionals for 30+ years. The fact that you were able to explain your point with simple math and quick assumptions makes you about 20X more likely to have a good career than average people. I predict that you’ll do fine.
@@OhNoNotAgain42 still engineering doesn’t pay enough these days either in Britain
what's scarier is keeping the calculations you just did to find out how much money you would have each month if you worked full time at $10/hr. $300/week x 4.5 weeks in a month = $1350/month
I am 30.
I’ll never own a house, I will never have a family. I’ve accepted it and am now traveling and doing whatever I feel like.
We’ll all be in the ground eventually
I figure at some point its a them problem no one to run their facilities or work at their resorts and so on
I am nearly 28 and I can feel what your feeling. I just want a cottage on the countryside and a remote job. This demonic world is too much for me.
well i mean don’t give up ALL hope
@@Alffovinni I am very close to giving up entirely.
when you don't have a wife, kids and want to see the world you don't need a house
My boomer parents didn't know how bad it was for me to find my own place to live until I involved them in the search. To see me get outbid by a massive difference and see homes put on the market for ridiculous prices really woke them up.
they finally can see the results of their voting.
Pre-pandemic? Before the pandemic millennials had it made in the shade. Shoot, I still see millennials thriving.
My boomer parents behaviour was terrible and I turned it around on them and of course they didn't last five minutes. Literally with a timer. FIVE MINUTES. I put up with it for 20 years.
I want to sit a boomer down and say here find a job. No instructions, just, find a job.
@@Jmack1lla not the cheap path to education, but rather the affordable route. What you did was smart! College is actually very affordable, if you do it the way you did it, so when I hear these people saying they have big time student loans, all I hear is they made dumb decisions when it came to getting an education. Quite the oxymoron! The goal for parents of for their children to do better than them, so I am sure you’re parents are very proud of you. You are a fine example of what others should be doing, and living proof that all this nonsense about it being too difficult to make it is untrue. The fact is, life is actually much easier than some people seem to make it, and many of those people make it seem. It’s not easy, as nothing in life that’s worth it ever comes easy, but much easier compared to most other countries. You should be proud of yourself, and you should use your experiences to teach others that success is achievable if you make sound decisions. As far as degree programs go, students should be working with counselors in HS and with their parents to see what is best for them. Plus, there is so much free information online about career paths, if people don’t research it, and choose a career path that will lead them to the poor house, then they deserve what they get. And, as far as people saying that you have to pay a lot for college, to get the life experience, you can remind them that college os for education, and you have rest of your life for “life experience.”
Mine still lives in their delusion that I am not good enough in the eye of their variable shaped metrics
fortunately i left those fiends that were ruining my life for ... fun I presume
“Hard times create strong men, strong men create good times, good times create weak men, and weak men create hard times.” - from a postapocalyptic novel by the author G. Michael Hopf
Let us not forget... they didn't have credit scores until 1989. So they didn't have to crack open every single aspect of their finances to get a loan.
Don’t forget also the beginning of that decade interest rates reached an all time high of 20%.
@@skeezix8156As this video highlighted, interest rates don’t really matter much when the principle is lower. A 500k loan at 4% over 10 years has 2.5 times the monthly payment of a 100k loan at 20% over 10 years.
@@stonep11 when you’re making 9.50 an hour it matters to regular working people
@@skeezix8156 not sure if you mean in $9.50 in the 80s or what but $9.50 in 1985 is equivalent to $26 today.
@Skeezix the average house price has amywhere from tripled to multiplied by 5 since the 1985. I say that cause I don't believe House prices directly affect inflation adjustment calculations.
Mega corporations were not buying tons of houses to rent out in previous generations. There are less houses to buy... So the cost stays high.
A lot of it has to do with foreign ownership of real estate. If you control the land, you control the people. The amount of real estate the CCP (and its shell assets) own outside of China is staggering.
Ban unearned income aka Buy to Let.
@@Psilocybin77 yes colonialism ownership via paperwork
Is that the problem or white liberals NIMBYism?
@@Psilocybin77 Don't kid yourself. This is a result of the "Federal" reserve printing money and giving it to their other businesses to buy all of America. But yeah, I suppose you can argue foreign ownership since the people controlling the "federal" reserve are only American on paper if at all...
Wage growth has been stagnant for 40 years. Making nearly exactly the same wages as our parents or grandparents in some cases. But now we have 800% more expensive housing, 900% more expensive healthcare, 250% more expensive food. We literally have 5% of the financial power that our parents and grandparents had. I make 6 figures at 23 years old, and own my own home ~300k (150k left to payoff) but adjusted for inflation my salary would have under $10,000 salary buying power. If i did the same work 40 years ago, i would have approximately 2,000,000 salary of today's dollar buying power, or i could buy 6+ houses outright per year. People, we are screwed by inflation and no wage growth. The people in charge have ruined entire generations economic future. We are already slaves. Wake up.
Nice to see somebody from the "upper crust" having a little empathy for the situation.
Cite your sources for these numbers that you just seem to throw out willy-nilly....
@@zenzin7725 look up average home prices, healthcare prices, tuition prices, and wages by job title by year. Im not going to hold your hand to make a youtube comment.
because back then we didn't have crazy inflation. things got cheaper over time not more expensive. We were on a gold standard, there was no massive QE going on and interest rates were normal not extremely low. House cost basically same for 30 years straight. Once you have inflation people with assets get rich and people that just have a job get poorer.
What I would give to live in a time where we weren’t constantly worried about Inflation crisis, debt crisis, resource shortages, and affordable living costs! Jeez, don’t I sound right out of the Great Depression
My father in law paid for both his grandkids' college education. I think he wanted the next generation to do better than he did. I'll always respect that.
Chosen Few!❤
Now that's a man with a vision. Kudos to him for doing that.
My kids worked hard in school and got a state scholarship that paid college tuition and they also worked to pay the rest. I respect that too. They did it with their effort not someone elses.
@@patland1762 So instead of a parent paying for their tuition they had the government pay for it. And you're proud of that?
In both cases someone else paid, they didn't pay for it themselves.
@@sdm6054 In some states the govenment uses lottery proceeds to fund scholarships for students with good grades. Nothing wrong with that. Would you prefer a nation of under educated easily fooled by media and some politicians?
Nothing motivates me more than being told I just have to work harder and save more by a generation whose biggest claim to faim was winning the birth lottery...
"...whose biggest claim to faim was winning the birth lottery..." (as a boomer, and leaving my number in the draft lottery aside) I agree completely with your observation that we lucked out, in so far as when we were born.
I genuinely wonder, though, from an actual statistical standpoint, what percentage of other boomers still think that merely telling those who came after us to "just work harder" is still in any way a sane thing to say to someone, y'know? Corporatism screws us all, but perhaps especially those who are younger. I tend to vote for those who whose policies would help *all* generations, but... that's just me. We all need to support each other.
*fame
@Unknown-jt1jo 🤓
That's because you don't understand basic economics. This issue isn't with preceding generations but rather is caused by the type fraudulent fiat currency we use which is an outright ponzi scheme.
"Waaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah!
The recent extreme Zoning does more than just increase house prices, It also traps children in their own homes. When the nearest store is too far to walk- and friends houses are too far as well, kids rely on their busy parents to create time in their schedules to drive them wherever they need to go. Never where they want to go. It really fucks with their mind. and when adults start to talk about internet addiction in kids, I really wonder.
As a boy, I ran over two miles and back to Walmart many times, and I’m Gen Z. Kids are too fat these days.
@@LarryWater how to get kidnapped 101
@@crewmatewillthrowthesehand7600 very true.
Exactly this!! I grew up indoors with severe depression and tech addiction. I think mostly because Houston TX is too hot to go for a casual walk in and when you do walk here, any sort of destination is much too far away to arrive to without being drenched in sweat and exhausted. Houston is the absolute worst large city if you like to be out and about as a functioning member of society. It’s also notorious for a lack of zoning laws. I always fantasized about growing up somewhere like Amsterdam or a size-able English town, somewhere people can walk or ride bikes and everywhere they’d want to go like the store, the movies, the park, whatever, is not very far away. I think the isolation has a very negative impact on society. Everyone is constantly in their own little bubble. Their own house. Their own car. It’s created a disconnect with the people. Probably why there is so much distrust and animosity in the culture here.
@@crewmatewillthrowthesehand7600 The risk is not getting kidnapped, kidnappings by strangers are rather insignificant (in the high double digits for everyone below 18), the problem is that the cities are built for cars. You're literally risking your life if you're trying to get to the grocery store on foot.
The real problem lack of wage growth to keep up with inflation, and the devaluation of the dollar.
Inflation hasn't outpaced wage growth
@@jsebby2284yes it has. Wages have stagnated for decades.
@@baneofbanes no it hasn't. You're just factually incorrect
I agree with you I think these two are the main problem. Because monetairy policies where so loose and facilitated by banking all asset prices exploded over wages. They should correct that. I have hope they eventually will because given time it becomes inevitable
Wages don't need to keep up with runaway inflation, the sources of inflation need to be dealt with, it stops increasing, and prices drop back down. We don't need to increase minimum wages, we need to reverse inflation.
Oddly, I feel GenX may have it the worse. They had this huge push by the Boomers to take on 40k-120k worth of college debt even before getting a job. They were told to then get married at 25 and sustain it all with their 3 kids. Fast forward, most are in horrible debt, divorced, and struggling. You see them working along side us likely never to retire. They're our older siblings that were scammed into the "American Dream" scenario too. I feel so mean saying this, but the Boomers live forever and never give up their businesses or positions. Our lead attorney is 73 years old and won't give his children a dime. Makes them "intern" as the receptionist while going into college debt. They are a cruel generation that dismisses everything with "well back in my day". I worry for all of us.
They had it worse, because they were closer to the wealth and the lie seemed more believable. Newer generations stand so far away from wealth, that believing the "work hard" bla-bla is kind of ridiculous at this point.
They don't have it worse. Every younger generation has it worse than the prior. there is a large portion of millennials that don't own a house have massive college debt and refuse to have children because of the state of the economy. Generation Y is now entering into the workforce seeing the exact same thing Millennials have learned the hard way with even more debt and less opportunities than Millennials had.
The problem is GERONTOCRACY! boomers are all about themselves and most of the older half of Generation X are very similar. Climate change is an excellent example of how selfish they are. The "Let someone else deal with..." mind frame or even outright denial of a problem.
@@JAGaymer it’s why gen x is worse they became like their forefathers following the same ideals hoping to fill their shoes in the future. Nobody will ever help the young accumulate wealth because of envy. We’re stuck in a transition into war.
House prices were better 15 years ago. Not easy but not insane like to day. There is absolutely no way I can save enough for a downpayment for a house where I live today.
@@JAGaymer I was agreeing with you all the way until climate change.
Love that everyone sees the problem but nothing changes
Isn't that the case all the time? Something will only happen when something breaks.
It's because boomers are a larger and less diverse generation, they're the biggest voting block with very similar views. They're majority one race, similar religious views, grew up on a stable cultural and news diet. Other generations are smaller and much more diverse in every metric. We'd need a large amound of boomers and solidairty amongst the rest of the generations to make change and that ain't happening.
Because the ones in power are still the ones who created the mess in the first place and they won't leave this earth anytime soon.
Those in power are still benefiting from the system
Because the boomers didn't expire yet
My mum watched me get my first job at 13 and freely admits I've worked harder and longer hours than she ever did. I went to university, neither of my parents did. But both of them own their own homes and at 37 I had to sell my car.
I have no hope of ever achieving the financial independence my parents did while ALSO having money to raise a family.
even working all waking hours of my life, I'll forever have to remain single and dependent on them for a place to live because of the cost of living.
Hope your financial situation improves. You are truly a hard working person. Good luck.
What did you go to school for?
That's almost exactly my life.
@@MaskOfAgamemnon I don't think I'm an outlier.
Blame overwhelming corporate greed, not your grandparents. Unless they happen to be hedge fund people.
Nah, that's not it, but you can go on living in a fog if you prefer.
Dang, you really don't get it, huh?
@@Ridley369 no I get it, I fundamentally disagree with OP's analysis.
Yeah wonder which people run most of these corporations
My father and me have worked out a plan as he readies for retirement. In the last couple years he's come to realize that it wasn't a lack of effort on my part but just a said fact I can never be as successful as he was. That said we've both shifted every bit of our finances to pay off all our combined debts(cars,loans,mortgage) and secure up the family farm for the future. We've got into a position that right as he retires the only outflow left would be utilities. We worked together to secure his golden years and my middle age.
it's good to know that *something* is going well out there. props to yall
You have a great role model! Hopefully, you can do something similar for your children in the future. Cheers!
Congrats! You are lucky to have a parent to back you up. If we all could be as lucky 🤔🤔
It makes me happy that you are working together to keep the farm in the family for some reason. 🙃
Most people don’t have strong connections with their parents like this. My dad is extremely arrogant and resistant to change his ways. I’d say you’re blessed to have a good father.
In 2015 when my parents were putting pressure on me to go apartment hunting and get out of their hair, my dad (who has been a homeowner since the 80s) was adamant that it would be a simple task to find a 1 bedroom place, utilities included, in a safe neighborhood, for only about $400/month. Called me lazy, a mooch, entitled; why on earth was I taking so long to get out and be an independent adult. I was making *twice* what he had been at that same age, it was ridiculous and embarrassing that I kept making excuses about not being able to afford it.
So one day I sat down with him, and asked him to help me find a place. Let him discover for himself that average rent in our city is closer to $1600/month and that most landlords don't include utilities anymore. Quieted him down pretty quick, but for some reason he was convinced that my situation was an exception and not the rule. Other millennials and gen-zers are obviously just incompetent and there's no reason they should complain so much about low wages and high cost of living.
They are seriously out of touch with the cost of living and inflation these days! $400/month is what my college dorm cost 20 years ago.
@@GretaZ-dd3lu my college dorm is 50$ a day while sharing with 2 other people
Paid 600$ a month for a 8x8ft room in a trailer with 3 others. Shared a bathroom. Roach problems. Bad neighborhood.
Now, I rent a 11x11ft room, own bathroom from a friend. Free, because his boomer grandmother gave him the house. After she died.
For free. *After* she died.
We are all literally waiting for the old to die off so we can have a chance at a decent life.
(BTW its free, yeah, but I also clean the whole house, cook, and work 50+ hours a week so I can TRY to go back to uni. Had to drop out to afford the shithole from paragraph 1. Thanks boomers. ❤)
EDIT: This got 50+ likes. Can y'all RT this so I can go to uni? (Gotta love how unavailable the boomers made it.)
twitter.com/Kanji_Bear/status/1536357121654235137?s=20&t=CGninnxX7aguevC0UQHE2Q
@@SomeBody-pb7ht I'm far from the cleverest or best educated person out there, but it seems to me that the vast majority of the time treating *any* issue as black and white indicates a general unwillingness to put forth effort into solving the problem. Turning politics into team sports will be the undoing of our society.
Honestly, if you want to do a nutcase and DIY a home, I've heard that most pallets are just thrown away and might be able to just be asked to take, and old cargo containers are pretty cheap. Both are good materials and constructs to make a house(albeit a very poor looking house because your practically living in a box). Problem is getting land. As well as many other things.
The problem isn't only that wealth is concentrating in the hands of a single generation. It's concentrating in the hands of a select few families. When that gets passed down nothing will change
If only we could instantly give all the currency to them, and then the world just switches to a different currency, rendering all old currencies useless ala Recess monsticker style.
thats so true, also these families gain more and more wealth by already having wealth too. half of the real estate in my old hometown already basicly belongs to a single family...
Eventually the situation will become such that the have nots will realize where all the wealth is, especially after famine and the like, and they will band together to drag that wealth out of their hands. Maybe they might even be generous to allow them to retain their heads, unlike when this happened during the French Revolution.
Can you maybe get rid of them and share the properties between the rest of the population? Everyone should be on board with this.
@@wolfgangouille "get rid"?
No, corporations have ruined the future.
I remember about a year ago when i was getting ready to get married. Money was tough and housing market tougher. And my dad has always had an answer or solution to any of life’s problems. And it’s always comforted me. He and I sat down once and he looked me in the eye and said “i don’t know what you’re going to do.”
And at that moment i understood that he realized how dire our current economic situation is.
Don’t have kids and focus of both of you making good incomes. That’s what you need to do. If you have kids, you’re setting yourself up for serious hardships unless you’re both pulling serious money.
@@Moriningland is that advice coming from personal experience? I feel like people over spend on their children.
As a retired baby boomer I can tell you unequivocally that I have had multiple times in my life that I didn't know what I was going to do. That isn't unique to the current generation.
@@danquattro6662 I have kids. Don't have kids. People love saying we overspend, but they fail to realize just how expensive child care is. Unless you have a family member that that watch the kid(s) which tends to be more affordable, don't do it.
Childcare alone can cost as much as a mortgage for a single child. If you have low income then you might be able to qualify for certain programs that can reduce those costs substantially, but it's still relatively expensive. I haven't even discussed necessities such as food, healthcare, etc.
@@alansach8437 the point went well over your head.
The complain that we're not having enough children. But I'm not sure what they expect when I can barely afford to keep living. If I had a kid I just have to give it up, or go homeless. I don't want to have a child knowing they're going to suffer and have a terrible life because I can't provide for them. Nobody wants that for their kids. So it's simple. We won't have one. Because we can't afford one.
Often it's boomers who suggest those, always thinking they need their bloodline passed down nothing else.
Very true & i would not be surprised from 2019-to now is a statistic record breaking % of people not having kids. In this economy? Seriously?
Boomers should be looted dry of everything theyhave to provide for us instead.
Thus explaining the population decline
Unlike some irresponsible boomers who popped out several kids for no good reason and made them go through poverty, we actually have something called SELF AWARENESS...
I have late Gen X parents. One works at a factory, just like me, and the other made 15 an hour for 9 years straight. My boyfriend makes about 20. So, basically, when they turned 30 they were able to afford a STICK BUILD 3bd 2.5 bath house on 5 acres for 150k in their early 30s. Our jobs are literally identical to what theirs were at 25 and 26, and they just do not understand why we'll never see the same thing and keep telling us "just wait out the market". They're so delusional it's insanely frustrating
Prices have far out grown wages.
Pillow time and remember not to be as dumb when you hit that age with/about your kids
@@mad1337nes we can’t afford to procreate
@@mad1337nes They shouldn't even be considering children, under such circumstances. My husband and I never reproduced for the same reason. This crisis has been festering for a couple decades.
@@nobody3279 that's where the idea of a forced inheritance came into play. Better for everyone, and you get to it before it's all gone on cruises and "collectible" dinner plates.
One immense issue around this is simply human nature.
People want to believe their successes are due to some special traits they possess and if that is true, than negative outcomes for others must obviously come from their own failings.
Breaking that mindset and just getting them to look at actual numbers and facts is extremely hard because for them it means... 'my success was just a byproduct of my environment and I'm not special or better than them'
Q0
And then the Boomers laugh while saying “I’m going to spend all the inheritance travelling and living large, I’m not leaving anything to my kids or grandkids. They can work for it, just like I did!” Their lack of awareness and gratitude is simply staggering 🤬
I can see that happening.. but who would take care of them not being able to drive down to buy groceries or medicine or help them when they collapse of stroke or heart attack without paying today's fees for a nurse/helper?
I know I hear in the US, they have something what they call home for the Aged or something but not all countries have it as good as US & similar.
LOL That is exactly how my parents are/were!
why should they leave you anything?
You do realize that it was just a few generations ago that the Kids were meant to help support the parents in the parents old age, right?
You planning on doing that?
They spent a large amount of their income on you for 18 years. What have you done to pay that back?
Your Privilege is showing and your lack of awareness and gratitude is simply staggering.
OK boomer.
maybe the Millennials and Gen Z should learn to code.