Posted on 05/21/2019 10:02:07 AM PDT by Olog-hai
Millennials have felt more financial strain than any other generation since the Great Depression.
Despite a decade of economic growth and decreasing unemployment, Americans born between 1981 and 1996 have less wealth and property, lower marriage rates, and fewer children, according to new data.
“Their economic fundamentals are fundamentally different,” Christopher Kurz, an economist at the Federal Reserve, told the Wall Street Journal.
Kurz and his colleagues found millennial households have an average net worth of $92,000, about 40% less than Generation X households — those born between 1965 and 1980 — in 2001 when adjusted for inflation. The millennial average is about 20% lower than baby boomer households — those born between 1946 and 1964 — in 1989. …
(Excerpt) Read more at washingtonexaminer.com ...
I used to be an early adapter,
but I’m so far behind the curve,
I’d be lost out there. Home is
where the old fart is.
Hmmmm........it still comes out to about the same thing......
For one, mortgage interest rate (1980’s and 90’s) was over 15%....forcing early sale during recession just to get out from under it!! Salary was $8 to $12 per hour for women, and that’s with a college degree. Like I said: we made it. Wasn’t easy. My daughters began working at 16 (my first job was at 14). They worked throughout college and beyond. They basically paid for their own weddings (I gave what I could). And 2 are full time working Moms now, even with full time working husbands. So.....give me a break!!!!!!
Worked at a Marriott flipping burgers for $1.35/hr in ‘74. Ate at the end of my shift and bought stock through the ESOP which I used to pay for community college. I didn’t have an apple but listened to an AM radio. Paid cash for rusty cars. Life was good!
Life is good!
Worked at a Marriott flipping burgers for $1.35/hr in ‘74. Ate at the end of my shift and bought stock through the ESOP which I used to pay for community college. I didn’t have an apple but listened to an AM radio. Paid cash for rusty cars. Life was good!
Life is good!
MY first full time job I got paid $1.30 an hour & that was ABOVE the minimum wage.
I NEVER made more than $64,000 any year of my life.
My FIL made 2.48 per hour at Boeing in 1957.
I found his wage statement for a pay period 1957.
Electrician.
He spent 40 years wiring up cabins on aircraft.
I don’t think that he worked on any of the more critical areas.
(That’s a good thing)
They also voted for every tax and voted to let illegals in (raising housing prices)
Be nice to milliniels that will some day choose your nursing home.
No...they'll be demanding Euthanasia!
Socialism (even @ 75%) is a bitch...
I delivered newspapers and made about $12 a week from six years, until I got my DL. Then got a job washing dishes for a buck and a quarter an hour at a little Italian restaurant. At least the food and pop was free. Not to mention what we filched from the bar...
I worked at a local discount store for $1.15/hour in 1967 and thought I hit the jackpot!
They are lazy and entitled is all. So many opportunities to get decent jobs nowadays.
There are plenty of jobs out there.
$2.48 in 1957 dollars is equal to $22.55 in 2019 dollars, per the BLS inflation calculator, JFTR.
I wonder why?......
Warren Surprises Grads By Announcing She Will Increase Their Taxes To Pay For Their Student Loans
https://freerepublic.com/focus/f-chat/3751034/posts
Not to bad considering he had just started working there.
Not at all. Especially considering comparative cost of living.
Well the GenX has had 15 to 20 more years to accumulate.
That’s around $23.00/hr converted to 2019 dollars.
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