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So don't live in Southern California? This is exactly the type of sacrifice people refuse to make to which I refer. "Avocado toast" is a metaphor for conspicuo

So don't live in Southern California? This is exactly the type of sacrifice people refuse to make to which I refer. "Avocado toast" is a metaphor for conspicuous consumption at the expense of savings and investment. Ex: $20 avocado toast at a brunch restaurant is absurdly unnecessary given the available options for sustenance. No one actually believes avocado toast alone is what prevents younger people from getting ahead. Show me a young person making over $40k per year and I PROMISE you I can find savings opportunities in their spending habits. This, coupled with long term compounding of returns, does make a real difference over the course of a life.

jjeaff 5y ago
Millennials are far more likely to change cities than their boomer or gen-x parents. Avacado toast or not, I'm not sure the data is settled on whether millennials waste more money than boomers or gen-xers. They just waste it on different things. Show me an older person making over $40k and I promise I'll find savings opportunities for them as well.
cheriot 5y ago
> So don't live in Southern California? People need to live where the jobs are. When cities permit offices, but not housing they're screwing people over. > "Avocado toast" is a metaphor for conspicuous consumption at the expense of savings and investment. Here's an example from national numbers: https://fred.stlouisfed.org/graph/?g=FYMk https://fred.stlouisfed.org/graph/?g=FYMk The price of a median house has gone from 3.6x the median salary to 5x. The ratios are worse in the cities that have added the most jobs. Framing this as a failure of personal behavior is missing the point. The current generation has to work harder than previous generations to achieve the same thing.