Millennial's are going to see it rough...........

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jltrent

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As affluent baby boomers thank years of soaring markets for their paid-off mortgages and plump portfolios, millennials and the next cohort, Generation Z, are weighed down by student debt and stagnant wages. They can only contribute the bare minimum to their retirement plans and struggle to find affordable homes within commuting distance of their jobs.

It is looking more and more like there isn't going to be much left after the baby boomers. I feel for the millennials as cardboard box homes will be common.


https://www.msn.com/en-us/money/persona ... li=BBnb7Kz
 

Ky hills

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I was pondering a similar train of thought the other day while mowing, ( at least during the parts where I wasn't dodging rocks and trying to keep from getting in a bad way on a hill.) It has no doubt always been hard for folks to make it, but I fear it is much harder these days especially for those starting out with nothing. I hear a lot of times people say they just need to pull themselves up by their boot straps and go to work, and I don't disagree with that at all, it is just that there are more factors involved that make that hard to achieve. The way I see it probably if someone doesn't have a particular field in mind to go to college for, the best thing would be to go on and work at what ever they could find and maybe work toward a specific trade. The higher education is so expensive, that it takes years to pay off even for those who are in typically high paying fields. The costs of living are ever increasing, there are areas that can be reduced or cut out, but now basic needs such as rent, vehicle + fuel/maintenance and insurance are ever present. Then if someone buys a home there is that responsibility. Perhaps what I see as a factor that probably used to not be is all of the insurance costs which continually rise, and various taxes and licenses/fees that are always cropping up, some may seem like small amounts but added all up makes for a significant amount.
 

JMJ Farms

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jltrent":3h0u8jez said:
As affluent baby boomers thank years of soaring markets for their paid-off mortgages and plump portfolios, millennials and the next cohort, Generation Z, are weighed down by student debt and stagnant wages. They can only contribute the bare minimum to their retirement plans and struggle to find affordable homes within commuting distance of their jobs.

It is looking more and more like there isn't going to be much left after the baby boomers. I feel for the millennials as cardboard box homes will be common.


https://www.msn.com/en-us/money/persona ... li=BBnb7Kz

Good article
 

greybeard

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It honestly read like a hatchet job on previous generations and as is so common, went right down the millennials' path of 'it's somebody, anybody, everybody else's fault but ours", not to mention it is a very thinly disguised call for that millennial and GenZ demographic to get out and vote a specific demographic out of power. (I see a lock coming)
 

1982vett

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Yeah, our elder generation said we wouldn’t ever amount to anything too. I am lucky I muddled through ok, but I also had work ethic foundation to build on. We were expected to contribute something early on.
It’s sad to think most 18 - 30 year old graduates still don’t posess the skills needed to take care of their daily environmental needs. Raising them up under a protective shelter with their every whim and desire met without question has not served them well. The sooner one figures out responsibility will ultimately fall on themselves, the sooner they find the path.
 

1982vett

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True Grit Farms":23e6cy3b said:
I see nothing but opportunity myself for those that want to work.
So many don’t know work. They don’t even pick the trash up off their bedroom floors.
 

ALACOWMAN

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What really concerns me is these kids committing suicide.. When I was a kid I didn't even really know the meaning..and it was a million miles away from my thinking..bullying was part of life and we dealt with it,the only way you did then... walk up a knock the he!! Out of them,problem solved they were off to try it on the next...now they are groups and counselors ..
 
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jltrent

jltrent

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Money management and economics needs to be a requirement in HS. When your outgoing is more than your incoming you have problems and with the new rules Chapter 7 is harder to get now than it use to be. Student loans can not be discharged in bankruptcy, so therefore a lot of young people are saddled with overwhelming debt right out of the gate for life. Job pay has not kept up with inflation so everything is more expensive.
 

ALACOWMAN

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One thing age has taught me, I don't feel like I have too fly like a big dog anymore..I like to invest my money in cleaner and polish..makes that old stuff look like a new penny...every time I price something new. I come home and break out a can of it... :cowboy:
 

Brute 23

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As with most issues it is not just one issue that causes a problem.

First off, I believe there is every opportunity... if not more for millennials as any other generation. You will have a hard time convincing me other wise.

What I do believe was unjust is the amount of pressure and emphasis society put on a 4 year degree. That one item severely set back a large number of millennials. That is becoming such a problem that kids are trying to get prescriptions and ODing on legal drugs they think they need to cope. They have been indoctrinated in to believing if they do not have a 4 year degree they have failed. That is non-sense and nothing more than marketing put out by the universities.

I think most of us agree that not being raised in family units in rural America has taken its toll on our country as a whole and people's abilities to cope.

Just for FYI, they are splitting the "millennials" now. They have a break in the early 90s now. You can't compare kids of the early 80s and 90s to kids of the late 90s and 2000... that's two different worlds. They are breaking it down the cell phone/ technology line. Kids of the 80s and early 90s were raised with out cell phone, enet, and potentially even computers. Late 90s and 2000 kids had all that technology from day 1.

I admit I did not read the whole article. When they got political and started telling me how me and my friends voted... and why... I was DONE.
 
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jltrent

jltrent

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Very interesting article to me, but as I read closer did notice the political agenda, so mod if a problem please lock/delete as I will as always try to follow rules.
 

True Grit Farms

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jltrent":39dv45ub said:
Very interesting article to me, but as I read closer did notice the political agenda, so mod if a problem please lock/delete as I will as always try to follow rules.
They already did that, it was locked for a few minutes then it was open again.
 

Workinonit Farm

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Ky hills":9d0vl18x said:
what I see as a factor that probably used to not be is all of the insurance costs which continually rise, and various taxes and licenses/fees that are always cropping up, some may seem like small amounts but added all up makes for a significant amount.

I think this, most certainly, is a contributing factor.
 

Nesikep

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It indeed is still perfectly possible for a really motivated person to start out with little and make something of himself... Trouble is most start out with nothing, and everything works against you at that point.. Everything from the $10 monthly bank fee makes a BIG different.. Oh you have lots of money? We'll waive the fee for you...

The thing is, 50-60 years ago, it didn't take exceptional motivation to start with little and get somewhere if you showed up to work and did your job (yeah, those two things were certainly more common back then) I think 'average' work ethic is certainly down.
 

ddd75

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shouldn't most millennials have a job, house, wife, kids, etc by now?

The new generation is Gen Z .. ending in '12 for births.. so the youngest Gen Z's are already 8.. started in '95 so some are over 20 already.
 

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