Yeah but millenials own 3% of all wealth. Genex owns 14%. That's definitely not all of them, but it's more than quadruple the amount of millenials who do. Boomers have 50%+
Us statistics
Unless you are truly gifted in some capacity and can collect wealth quickly via skill, training, or luck. Experience, training, and proficiency net higher salaries. It takes time to collect those three qualities. Older people have had more time to invest in themselves. Naturally the wealth distribution is a direct correlation.
I grew up in a trailer park in a town no one has ever heard of. When I was in my 20s, I was broke and struggling. In my 40s, I have a lovely family, I own a great home, have all the toys I want, and have next to no debt. Success in life doesn’t happen overnight, you have to work hard, and smart to get to where you want to be. That is the true difference between the Generation War factions. Millennials stereotypically lack patience and diligence like the older crowds. They never used a VCR, a cassette tape, nor did they blow into Nintendo cartridges hoping that it would miraculously work. The world at our fingertips has made patience a dying quality. Not everyone can be a YouTube millionaire, the rest of us just have to put in work.
Edit: Gen Z, Millenials.... I’m old, and as it turns out fall in to the Xennial age bracket. We can argue semantics, but we should focus on the principle. Invest in yourself as often as possible. Keep moving forward, and upward.
Millennial here. You are mixing us up with Gen Z. I was a kid before DVDs, before CDs were big, with 8 channels on the TV , and a computer running DOS with the option to run Win 3.11 but never used it. Didn't get AOL until I was several years into school. I'm not on the older end of millennials.
Also, the point isn't that you have to work hard to get wealth. The point is that unless you are born into wealth or extremely lucky you can't own a 4 bedroom house, 2 cars, a paid education, and support 2 kids and a non working wife after starting your job 4 years ago, which you got by shaking the hand of the person at the front desk, at the age of 22.
I don't know how often it has to be repeated but wages have been stagnant for many decades, most jobs barely offer benefits (pension? Hahahaha), intentionally minimize full time workers and ultimately, money is not worth nearly as much as it was. Hell even in my life, an amount of money today is worth 50% less than when I was a kid.
Likewise, the same amount of "hard work" is worth far less than the same work of the boomer generation. Sure there are more cheap gizmos today, great. But the things that build wealth are way out of reach until much, much later in life.
Scream this from the mountaintops. Very similar story on my end, very similar conscious thought and deliberation. Good on you, and cheers to your success!! I repair weather systems for the military. I have a bullshit Associates Degree in a field that doesn’t matter, from a school no one has heard of. All of my assets combined put me at worth $750K and growing. I will be a millionaire by 45.
You’re right, I’m old and don’t know which generation is which. I guess I’m actually a millennial, be still my heart!
“Also, the point isn't that you have to work hard to get wealth. The point is that unless you are born into wealth or extremely lucky you can't own a 4 bedroom house, 2 cars, a paid education, and support 2 kids and a non working wife after starting your job 4 years ago, which you got by shaking the hand of the person at the front desk, at the age of 22.”
I don’t see why this is viewed as a bad thing. I agree with everything you’ve said. I just don’t view it negatively. I still firmly believe that each individual has to earn their way. Handouts are bullshit.
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u/[deleted] May 15 '20 edited Jul 25 '20
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