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Gen-X: "We've got all this extra cash because we couldn't fly anywhere or go on cruises. Let's build our dream home in the mountains." Boomer: "Well, the 401-K
by ttul 6y ago
Gen-X: "We've got all this extra cash because we couldn't fly anywhere or go on cruises. Let's build our dream home in the mountains."
Boomer: "Well, the 401-K is up a ton. Can't seem to spend the cash pouring out. Let's upgrade the house and buy a second home somewhere nice."
Millenial: "We still have no savings because rent is insane and incomes have not kept up with inflation for decades as capital has played a larger role in growth than labour. We continue to have no long term security from a pension. I guess we'll just keep slaving away..."
- WanderPanda 6y agoBitcoin enters the game.
- smabie 6y agoWhile not representative, I would imagine that for most millennial HN users, 2020 was their best year in terms of financial gain: roaring stock market, wfh and CoL savings, insane crypto boom, record level bonuses, etc. I do understand that it isn't a representative picture, but among my friends, none of us have ever done so well financially in our entire lives.
- x3sphere 6y agoIt's been a K shaped recovery. Certainly a lot of people have benefitted and did even better than past years despite the pandemic, but for a lot of others they haven't. Been great for me as well but outside of people in tech, I don't know too many in crypto as they didn't have the funds to risk in the first place. Nor do they have much stock exposure outside of their 401k.