i wonder why half of americans under 30 live with their parents? probably because they're saving for fancy homes, and don't care about starter homes anymore
starter homes
I can't believe the opulence that boomers just ASSUME is owed them.
I have a friend who's wife is very much part of the PMC class (high income executive). They're buying a house and she is insisting on 5 bedrooms. They have one kid and won't have any more, and their families are both in the same town (so a guest room isn't really needed).
besides the obvious excessive opulence, that just seems impractical. can you imagine having to keep those rooms you never use clean? would be such a pain in the ass.
tho she'll probably just insist that they then get a cleaning person i guess
I have seen plenty of graphs before showing how net worth for young people is clearly rapidly declining over time, but this one is a little confusing since the data is taken at different ages which messes with the numbers a bit. Correct me if I'm wrong but this image is better at showing just how fucked we all are
Share of national wealth is a weird stat since each generation has different populations
True
There must be a graph out there showing wealth per person at age X by year born. That would be very interesting to me
What's that kiddo? You finally landed a dead end job, saved up your money, budgeted, and after years of skimping on fun purchases you finally paid off all your college and credit card debt?
Congrats, your net worth is finally at $0! Keep up the monk lifestyle and never have dependents, champ, you'll be worth $10k in only 4 more years! Maybe you can even afford the down payment on a starter home by the young age of 50!
We're rooting for you (until you start having health problems), wagie. :big-cool:
That's why I have no interest in paying off student loans or getting a house. Yeah it's the better thing to do, but I'm 31 and years of spartan life fucked me up bad and only recently after my shitty 50 hour week started paying decent money and 10k in savings that I'm finally able to spend money for myself without feeling guilty.
I guess I'm Warhammer pilled. All I want to do is buy 3d printers and paint miniatures, even though I have no friends to play with and being around other people gives me suicidal anxiety.
Honestly the main reason I want a house is to avoid paying rent. I heard that unlike rent, mortgages don't keep rising every year with inflation (or whenever the landlord feels like they deserve a raise).
Sure, there's upkeep costs, but at least it's not going to a fucking landlord... ah fuck, but then it's going to the bank instead... :deeper-sadness:
Well I live in Texas and my boss house just exploded because the city shut off the water and he left them to drip.
Sure it's more economical, but I don't have to spend every weekend on Upkeep on an 60 year old house or some cardboard new house that will start falling apart soon. Time already don't have.
There is no winning. America is a land of madness and the only option left is mass suicide at corporate convince.
That feeling when you’re in your 30’s but have the net worth like you’re in your 20’s.
I grew up poor and was one of the first people in my family to go to college. All my older relatives told me how much further they expected me to go than they did. TFW ten years later I'm still making minimum wage but now I have 60 grand in debt and my aunts and uncles just sigh whenever they see me :agony:
I turn 30 in December and graduated in 2010, who's doing school for 14 years? That's too many.
4 years undergrad, 2 years for postgrad, 4 years medical school, 3-7 years of residency/fellowship training
Pretty typical. And at least you technically get paid minimum wage during those 80 hour weeks in residency. Obviously not even close to enough to dent the interest on the principal, but at least we don't starve to death
Wait is this graph only for med students? I thought it was high school graduation
This actually makes me feel a lot better about myself. Sure I'll never be able to retire and that sucks, but at least I know it's not because I'm just a huge fucking loser.
Pretty sure the millennial retirement plan is dying in the water wars and the zoomer retirement plan is establishing communism
This is what I have in my day planner at any rate
E: the dying in the water wars part ofc
I heard that when you start "getting too old for this shit" and look into retirement planning financial advisors will have you do a fun math formula where you take the piddly money you've earned so far, divide it by your annual expected budget and VOILA the result is how many years you can afford retirement before you go homeless or die.
Isn't that just handy dandy? :turtle-pogger:
Very weird to use expected college graduation instead of high school. Many people don’t go to college, take a gap year, or take more than 4 years (and i think their numbers are actually still off and would have me graduating college in 3 years?)
yeah it makes absolutely no sense, this article says only 41% of students get a degree in 4 years, and at my college the average time was 6 years. In fact I know nobody near my age who has completed a degree in 4 years, only boomers and gen X like my parents.........
Me, a liberal: "See, the system works! If you work hard your net worth increases as you get older. Just hang in there! Stop complaining!"
This just made me realize that I am incredibly average. My shit minus my debt is seriously only $100 away from what this says it should be.
