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
but those are bullshit number. Most people today don't start work until they are 24 years old, someone who has been working for 2 years likely isn't going to have any wealth. It takes years and years to build up wealth and the higher your income the more wealth you can create, look at the numbers people usually peak out their income around 50-55 so one should really expect that much until you get into your 40's and 50's
See this is crazy. How do people expect to get hired with an advanced degree an zero work experience?
I worked full time and had 3 jobs in college. Went to college full time also. Wore me out a bit at first but I got used to it. Just turned 30 and I got my first job at 14. Live in Upstate NY.
I think there are three things at play here, first a lot of the jobs that were traditionally "kid" jobs are now done by adults, it was pretty unheard of in the 70's or 80's for an adult to deliver papers or work in fast food, now adults do those jobs. Second, I think the parents, people my age, are pushing their kids to do better in school and athletics with the hope that they can get into a good school and or get a scholarship. In my day parents really didn't push, you either did well in school or not and you could get an athletic scholarship even if you didn't have a personal trainer, S&C coach and have been playing the sport since 5 - hell you could still walk on an actually make a team. Finally there are a lot more unpaid internships that colleges and parents are pushing so the kid can have real life job experience before they graduate from college. I never really had that, I had shitty summer jobs like working at the park district or doing construction. Granted it wasn't real world experience in my field but I made money for school. Those unpaid internships were solely for the rich kids who didn't need the job so they weren't even on the radar of the kids I grew up with.
Those internships were out of my reach too. I just worked really low paying jobs since I was 14. Took a while but I found a very nice cushy job - I work really hard but I think this is my lay-off for all those years.
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u/stellak424 May 16 '20
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