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16470454 No.16470454 [Reply] [Original]

Why are millennials so broke?

>> No.16470458

>>16470454
Buying Starbucks and vegan all the time

>> No.16470461

>>16470458
its probably the 40 year low in wages but both theories are valid I guess

>> No.16470463
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16470463

>>16470454
https://fred.stlouisfed.org/series/BOGMBASE

>> No.16470552

>>16470454

>Age 65-74
>$232,000
>After 45+ goddamn years of compounding AND paychecks

How fucking stupid do you have to be? If a boomer invested $3000 at age 20 and spent every other penny they earned, they would have more than that.

>> No.16470629

>>16470552
Basically save for a small flat, then never save any money ever again.

>> No.16470646

>>16470552
One third of all Boomers have zero retirement savings.

>> No.16470872
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16470872

>>16470454
>mfw I'm richer than the average 35-44 year old based on my shitcoin stack alone
The absolute state of NPCs

>> No.16470917

>>16470454
Imagine screaming 'college is a scam'.

>> No.16470943

Student loans

I make great money for my age but my net worth is still negative thanks to this shit

>> No.16470970
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16470970

>>16470917
Imagine being dumb

>> No.16471264

>>16470458
Rent. Rent rent rent rent. Rent. Rent that's 70% of my income, for the cheapest deal in my city. Breaking the law daily at my job so I don't get fired(they know what's going on)
No health insurance, ugh I have to stop here, that should be enough for you.
Oh yea I'm a welder.

>> No.16471299

>>16470970
Imagine never making more than 10k living in ca even working full time in a trade. Imagine a family that's charged you rent since you were 16 for a house they inherited, and they have more than one property, and you still have chores for no compensation.
Why can't you trust boomers to have a soul/brain? They are all wondering where Ive been for the past decade. I can't bear to face my family because they make me want to kill myself, they are so sheltered and ignorant. They spent a bunch of money in private planes n shit. How do I respect these people while I literally steal water and food to make ends meet.

>> No.16471384

No patience, time is money, that doesn't apply to hourly wages but investments as well.

You need time for compound interest to do it's magic, of course age is the biggest factor in wealth, it has nothing to do with what generation you were born into you fucking brianlets

>> No.16471405

>>16470970
"some college" might include people who are still in school

>> No.16471415

You know in Mario kart when you fall way behind on the first lap?

Even if you do really well, it gets harder to catch up as time goes on.

Most millenials were in the very beginning of their wealth accumulation right when the recession hit, and faced several years of poor job prospects and even poorer wages as prices continued to climb for 3+ years right as they were starting out.

>> No.16471417

>>16470943
I'm in the same boat sort of. Currently 25 with 70k job but 20k in debt cause of school and 5k for my car. In hindsight I should have just gotten a cheap 100k mile car but I like it

>> No.16471560

>>16471417
A lot of people are in that same boat, but at least you recognize your mistake. Everyone else just wants to blame some external factors. The more you accept your mistakes, the better your future since you learn from them. (I drove my car until it died, and bought a used pos while everyone else bough nice cars, also lived in some shitty $700 rent apartment, now I have 300k saved up at 34 because I recognized your earliest years are the most impactful long term. The more you can put aside to grow early on the larger the impact)

Each year that ticks by, you have to put more and more into investments to catch up if you didn't contribute early. I went balls to the wall right off the bat, so now I don't even have to contribute at this point.

>> No.16471946

>>16471299
>>16471405
The point is that not everyone needs to or should go to college. Y’all got boomed, kids.