America has failed millennials so badly they’re turning to $1,000-per-month side hustles to make ends meet.

Yahoo finance ^ | Tue, June 13, 2023 | Chloe Berger

[nwrep]

Nonsense. They are pampered and spoiled.

[dsrtsage]

but they vanquished the bad orange man, unicorns should be defecating skittles everywhere

[Drew68]

You work at McD’s sport? Didn’t think so.

Then you thought wrong.

[Drew68]

I worked my way through college working at McDonald’s.

And let me guess. College was $400 a semester.

Anyhow, I'm Gen-X. The house my dad bought in 1977 for $50,000 is now worth $700,000. My mom retired from the bowling alley with a pension. It cost me $80 to be born.

So yeah, I kinda laugh at all these Boomers whining about how Millennials complain too much.

[Mogger]

Millenials need to figure out how to start businesses to employ themselves and others.

That's how previous generations did it.

[TheWriterTX]

I feel you, Drew.

My oldest is married and moved out (I warned him he was too young at 22, but it’s his life and he’s grinding away).

My younger two will stay with my husband and I probably until their 30s.

I would rather my children stay home and sock the money away or invest it than make a landlord rich. Keep the funds in the family, for their future home purchase.

When my husband and I purchased our first home, our mortgage and utilities was less than 25% of our net pay.

Now, a couple coming in with 5% down on a $300K mortgage is looking at over $4K a month. You need two six figure incomes to equal the ratio.

It’s insane.

[Rural_Michigan]

Everything is ridiculously expensive. I’ve already buckled down just about as much as I can.

[joma89]

Millennials have failed America badly. They are as a group, a ready bad bunch of people.

[BlackbirdSST]

Says the generation who sent all the jobs overseas, imported an army of unskilled foreigners to take those that remained, and oversaw the cost of college, housing, and healthcare skyrocket through the roof. But you all got yours so it's good.

After all of that nonsense, you come on this forum to promote the very same political class that did the very things you are whining about. Cognitive Dissonance. A badge you wear with pride. Run out now and vote for more eGOP stooges. They want stab you in the back this time, they promise. Hell, they pinky swear this time. DeSantis just told you Florida voters to go screw and you can't drop to your knees fast enough to promote him. Bizarre.

[moovova]

Say what you will about millennials and Gen Zers...but anybody that picks up a “side hustle” (part time job) in addition to their full-time job...has my respect. I’ve done that before. My wife has done that before. It’s not easy.

[Trinity5]

"Younger workers are more likely to need an extra job: 53% of Gen Zers and half of millennials have one, Bankrate finds, compared to only 40% of Gen Xers and 24% of baby boomers."

I love how they manipulate these statistics. As you move up in corporate life of course you make more money. When I was in my twenties I did have multiple side jobs. But as my regular income grew as I moved up I didn't need those "side hustles". So yeah Baby Boomers dont need part time jobs. But this article makes it seem like its only a generational issue and baby boomers never worked part time jobs when they were in their twenties...

[Night Hides Not]

Well Drew, there's thousands of Boomers, like me, that had the military pay our way through college on ROTC scholarships. In return, we had a 4 year active duty commitment. I liked it so much, I did a total of 8 years.

Those scholarships are still available today, and that's the only way I encourage young men and women to enter the military.

BTW, Boomers ended the Cold War, and elected Ronald Reagan. It was Clinton and succeeding presidents who spent the "peace dividend."

[usconservative]

Yup. They’re too busy blaming others for their failures though.

[Ex-Con777]

>Anyhow, I’m Gen-X. The house my dad bought in 1977 for $50,000 is now worth $700,000.<

I don’t want to get in the middle of your guy’s slap battle, but that increase is not unreasonable.

The economic Rule of 72 is used to predict how long it takes an investment to double in value. A 6% rate of return puts your dad’s house right there.

https://www.investopedia.com/ask/answers/what-is-the-rule-72/

BTW - I worked a minimum wage job in college in 1977 for $2.30 an hour. Two years later I landed my dream job as a flight instructor in a major university for $12 an hour.

And, yes. We bitched about how little our parents paid for their house and how expensive things were for us.

EC

[CodeToad]

“Now, a couple coming in with 5% down on a $300K mortgage is looking at over $4K a month.”

More like $2,500 at 7.5% interest.

Rent on an apartment is that high. Buying is the better choice.

[T.B. Yoits]

...there's thousands of Boomers, like me, that had the military pay our way through college on ROTC scholarships. In return, we had a 4 year active duty commitment... Those scholarships are still available today, and that's the only way I encourage young men and women to enter the military.

Those scholarships stopped being available if you're white and male, with the exception of a very few degrees. I know firsthand from recruiting for ROTC.

[Mr. Jeeves]

Side hustles are how the whole world gets by. Funny how many Americans - even decades on from the Golden Age of the Fifties - think all they have to do is get one 40-hour per week corporate job and they will subsequently be taken care of for the rest of their lives.

As a business owner, the question I hear all the time that still makes me laugh is: “How was your weekend?”

It’s the mentality of slaves, but as long as collectivist politicians are selling I guess people will be buying.

[TheWriterTX]

I used a 5% down-payment because most first-time buyers use an FHA product.

Depending on the location, property taxes alone will eat someone’s lunch.

What blows my mind is the ratios.

We were able to buy a 2K sq ft home, 3Br, 2 Bath, EIK. LV with wood burning fireplace, DR, 2 car garage, beautiful brick exterior brand new and our mortgage payment and utilities combined was 25% of our net (not gross) pay.

We were both making middle class pay back then.

How do young people do it nowadays?

[CodeToad]

“How do young people do it nowadays?”

They do have it hard, but they do it so the prices keep going up.

100 Years Ago, people could save and buy a home cash or at most a 50% mortgage. That was considered outrageous then.

[Vaduz]

Millennials turning to $1,000-per-month side hustles to make ends meet.

None of that was happening under Trump term America has NOT failed the democrat party rigged control of it and this is what they gave us misery murder in the streets looting of stores inflation proxy war in Ukraine and a hell of a risk of war with China.
HONEST ELECTION MY ASS