Millennial Who Grew Up In The 1990s Says Boomers Don't Understand 'We're Working 3 Times As Hard For A Third Of What They Had At Our Age'

Yahoo finance ^

[ProgressingAmerica]

For many millennials, the economy can feel like a game of musical chairs where previous generations already grabbed the seats, refinanced them at 3% interest and now insist there are still plenty left if younger people would just "budget better." Somewhere along the way, the American dream started feeling less like a finish line and more like one of those carnival games rigged just enough to keep people throwing money at it.

That frustration spilled into Reddit's r/economy subreddit when one millennial who grew up in the 1990s posted a blunt message about the growing disconnect between younger Americans and boomers over money, housing and financial expectations.

"I'm a millennial who grew up in the 90s and what boomers don't understand about us is that we're working three times as hard for a third of what they had at our age," the Redditor wrote. "And the milestones they want us to hit weren't postponed by laziness, they were priced out of reach by the economy they voted for."

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TOPICS: Society
KEYWORDS: boomers; fakenews; genz; igotminesofyou; illegaltruth; immigranttruth; millennials; softspoiledyouth; waaaaaaa; zeroeffsgiven

[ladyjane]

Anybody who is working three jobs just to pay the rent probably is living in an place that has a swimming pool, dog sitting and concierge service. That person needs to - gasp- get some roommates or move to a cheaper apartment. Going back to college to major in a STEM subject is also an option.

[Paladin2]

https://en.wikipedia.org/wiki/Generation_Jones

Had not come across this before.

[TexasGator]

“I’m an old guy, but I’d agree it is definitely harder for young people to buy a car, a house and get a family started. To me it seems like this is a given and I don’t see how anyone can dispute that fact...”

My fatherep was 32 when he bought his first house. The first year on my life the four of us lived on a boat, the next year in a very small trailer.

Then in 1949, upgraded to a new 2br, 760 sf home for the price of $1,000.

I bought my first at the age of 33.

[NorthMountain]

They blame us for the 1965 immigration act, for instance, when most boomers

The congressthings that passed the 1965 immigration act were elected in 1964.

The oldest possible "boomer" (a pox on people who invent such terms) was born in 1946. That person was Eighteen YEARS OLD in 1964, and therefore three years short of being old enough to vote. The youngest possible "boomer" (a pox on people who invent such terms) was born in 1964. That person was less than one year old in 1965.

I know that math and history are hard for some people to understand ...

Only Georgia and Kentucky allowed 18 year olds to vote prior to 1968, so the youngest people voting for Congress in 1964 were born in 1946 ... and that only in two States.

To blame the "boomers" (a pox on people who invent such terms) for the 1965 immigration act is to display abysmal ignorance.

[TexasGator]

LOL! Spellcheck!

My post: We thought he was a vegetarian till one day he came home smelling with a bag of beef parts.

Smelling originally SMILING.

[Jamestown1630]

I don’t have a problem with the term ‘boomers’. It just refers to the population boom after WWII. One of our own generation probably coined it...

[fr_freak]

So many here are tone deaf to it it’s ridiculous.

That's because the majority of the posters here ARE "I worked harder than any of these sniveling kids in order to buy my $10,000 house" Boomers.

[Third Person]

Sanctimonious Boomers, obviously not in short supply

[Jonty30]

I would agree that some of it is a higher expectance of a standard of living.

Some of it is also betrayal by liberals, who supported open borders.

Some of it is due to unnecessary student loans that we have required the kids to get because companies don’t want to pay to train on the job.

Those are not unfounded arguements, imo.

But some of it is also due to how their elders voted, because I’ve talked with boomers and they will not give up those social benefits that they argue they paid for. I’ve talked with my parent’s generation and that’s what they tell me.

It’s a bit of everything.

[Mr Rogers]

“What Gen Z doesn’t recognize is that boomers were jealous of what their parents had: A steady job for 40 yrs followed by a generous pension, retirement at age 65....”

Hmmm...MY parents grew up in the Great Depression. Then fought in WW2. My Dad then fought in Korea and died in Vietnam. My Grandfather was in his 60s when he bought his first house and died 4 years later. 3 of my 4 uncles lived in trailers.

[imabadboy99]

“Dear crybaby Millennials, I think I see the problem here. Look in the mirror, you’ll see it too!
I had a paper route at 12, union job at 16, full time/overtime at 17, retired at 66. My two sons have both retired in their 50’s, due to us all working very smartly, and hard.
It’s out there, just do it.”

This right here is why younger gen hates boomers. Completely clueless that the great union job with overtime that didn’t even require a HS diploma disappeared several decades ago. Younger gen is fighting over scraps. Bush family wanted a ‘service economy’ so that meant the good jobs went goodbye. Boomers just refuse to get it and refuse to have any sympathy. “I worked hard! I had a great union job at age 16 with all the overtime i wanted! Why don’t the young crybaby’s just do that?”

It’s sad.

[NorthMountain]

I didn't have a thousand dollar cell phone.

Or any other kind of cell phone.

My first car didn't have power windows or heated seats. My first car didn't have power windows or heated seats.

Because only Cadillacs and Lincolns had such luxuries.

My first video game

Most folks didn't even have that.

Our TV had maybe 10 channels>

As Pink Floyd put it: "Thirteen channels of shit on the TV to choose from"

I couldn't afford to cover my bidy with tattoos or cover my face with piercings.

And even if you did, that was something lowlifes did ...

Mortgage rates were 15%.

And inflation was > 10%

And we call those the good old days.

In some ways, I miss the simplicity of life in the 1980s.

[flamberge]

Except that these young people all seem to vote Democrat.

Screw 'em in that case.

The Gen-Z people can all vote for Democrats who promise to take all the Boomer's stuff and pass out the goodies to their supporters. Maybe they will get those Democrats elected.

Won't Gen-Z people be surprised when the government takes the first cut for the Millennials and Gen-X people who actually run the government offices, and there is no swag left over for the Gen-Z people.

[ClearCase_guy]

Yes. There is a lot of bragging on this thread. I worked hard. I sacrificed. I did all the right things.

You know, I’m sure that these statements are true.

But I think some people just don’t see that once upon a time, if you put your nose to the grindstone, delayed some purchases, made smart choices, eventually you would get your just desserts and you would achieve the American Dream — but today it’s different. Most of the people — most of the jobs — are in major metropolitan areas. And in those areas, you can find a “starter home” for about a million dollars. And average annual wage is $60,000. That math doesn’t work. It would be nice to see some people on this thread ease up on the bragging and open their eyes to what inflation has done to this country. Young people are mostly screwed.

[ansel12]

The boomer generation started in a nation in which more than a third of homes didn’t have full indoor plumbing and the boomers produced 10 million veterans, the boomers (under 30s) were the strongest supporters of the Vietnam War and voted for Nixon in 1972.

[Mr Rogers]

“Interest rates so high.”

Ummm...the first house I bought, at 40, I paid 8% interest. Prior to 1998, the 30 year mortgage interest rate was never below 7% and often much higher (going back to 1970).

Currently 6.3%.

https://www.bankrate.com/mortgages/historical-mortgage-rates/#rates

[MayflowerMadam]

I know. I was laughing with you not at you.

[spintreebob]

Boomers (and the silent generation) brought in LBJ & Nixon, the 2 worst presidents in a boomers lifetime. The policies and actions of those 2 are the source of nearly all of US society’s problems. Every politician, every person til Trump tried to deal with those earlier stupidities. Reagan did the best, Biden the worst, in handling the mess made by LBJ & Nixon.

[No name given]

And that’s the problem right there.

[Paladin2]

“The Government thru the Federal Reserve is STEALING more and more of the VALUE of every dollar and it is increasing exponentially, Aint Central Banking with a debt based currency just great?”

Yep.

Having had bank accounts and been saving [at least some] since the Third Grade, over the decades, a 2% Inflation will tend to killya.

I had a better link to the 1950s school banking history than the following, but AI doesn’t always come through with what one wants.

“The History of Local Bank ProgramsOrigins (1880s–1920s): European school savings models were brought to the U.S. in the late 19th century.

J.H. Thiry is credited with starting the first systematic school savings bank system in New York City public schools in 1885.The “Bank Day” Era (Mid-1900s): By the 1920s, the American Bankers Association (ABA) heavily promoted these initiatives, which became a cultural staple.

Students brought small deposits (nickels and dimes) to class in specially marked envelopes. Teachers or bank volunteers recorded the transactions in physical passbooks.

Wartime Savings: During the Great Depression, many local bank programs shuttered, but the U.S. Treasury stepped in to promote savings stamps and defense bonds, allowing children to fund the war effort while learning thrift”

I’ll look around some more.