Not sure how true this is. Most millenials who are "high earners" are, in my experience, tech workers. Those same tech workers tend to not buy luxury shit, opting more for gamer/weeb shit. Even then, I know a guy who makes well over 100k/yr in his mid-20s, and he refuses to upgrade his ten year old graphics card because he views current prices as a ripoff.
Millennials are children of the Great Recession, which like it or not profoundly colors our habits. The halcyon days for retailers of gen xers maxing out their credit cards on discretionary expenditures are over, in my view. Except maybe when it comes to car payments. Idk I could be wrong on this.
Edit: there’s also just less meat on the carcass, what would have previously been spent on luxury goods is now being spent on bloated housing costs and onerous student debt
Checks out. The people I know who are "doing well" are all focused on buying a place, which almost always means a 1BR apartment. As for car payments, they seem to buy their cars outright.
Yeah, as a tech worker basically all of the other "henry"s that I know are a step or two above r/malelivingspaces levels of asceticism, with maybe one slightly expensive hobby like mechanical keyboards, MTG, or keeping aquariums. Any major spending that they do is like... buying an apartment/house, paying off their student loans, or eating out semi-regularly. So uh, good luck to the capitalists I guess?
With inflation, 100k in 2022 has the same purchasing power as something like 45k in 1990. A lot of who capitalists target as being "high earners" are just more like the remnants of the quote-unquote middle class that's been utterly destroyed by neoliberalism over the last 30 years
Not sure how true this is. Most millenials who are "high earners" are, in my experience, tech workers. Those same tech workers tend to not buy luxury shit, opting more for gamer/weeb shit. Even then, I know a guy who makes well over 100k/yr in his mid-20s, and he refuses to upgrade his ten year old graphics card because he views current prices as a ripoff.
Millennials are children of the Great Recession, which like it or not profoundly colors our habits. The halcyon days for retailers of gen xers maxing out their credit cards on discretionary expenditures are over, in my view. Except maybe when it comes to car payments. Idk I could be wrong on this.
Edit: there’s also just less meat on the carcass, what would have previously been spent on luxury goods is now being spent on bloated housing costs and onerous student debt
Checks out. The people I know who are "doing well" are all focused on buying a place, which almost always means a 1BR apartment. As for car payments, they seem to buy their cars outright.
I have plenty of money yet I still feel guilty spending money eating out. I'd agree with you.
Yeah, as a tech worker basically all of the other "henry"s that I know are a step or two above r/malelivingspaces levels of asceticism, with maybe one slightly expensive hobby like mechanical keyboards, MTG, or keeping aquariums. Any major spending that they do is like... buying an apartment/house, paying off their student loans, or eating out semi-regularly. So uh, good luck to the capitalists I guess?
With inflation, 100k in 2022 has the same purchasing power as something like 45k in 1990. A lot of who capitalists target as being "high earners" are just more like the remnants of the quote-unquote middle class that's been utterly destroyed by neoliberalism over the last 30 years
:side-eye-1: :side-eye-2:
or make decent money just to blow it all on healthcare :yea:
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