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It’s crazy that Millennials and Gen Zs are already some of the poorest generations in recent history, and then on top of that bad investment decisions like thi

by xwdv 5y ago

It’s crazy that Millennials and Gen Zs are already some of the poorest generations in recent history, and then on top of that bad investment decisions like this end up making them even poorer for life. God damn, I feel like growing up we leaned too hard on hokey “Money can’t buy happiness” or “Money isn’t everything” narratives, and thus people never prioritized making as much money as possible. Now so many problems faced by these younger generations all have a common denominator: not enough money. That’s why we see these risky gambles and moonshots and digital pyramid schemes. My message to future generations would be this: You need money, you need a LOT of money. There are many amazing things in this world but they will all be out of reach for you if you do not have money. If you’re not making enough money, you’re doing something wrong, and the longer you’re in that state the worse off you will be. Get money.

pxmpxm 5y ago
I would expect this to be a consequence of the "do what you love" mentality that seems to be popular of late, especially when coupled with irrational educational decisions ($250k for a social work degree at NYU etc). It's almost as if the "oh i actually need money" epiphany only happens later in life and leads to the dynamic you mentioned.
- xwdv 5y ago
  You can do what you love but does what you do love you back? Clearly not if it makes you destitute.
vinyl7 5y ago
From my perspective as a millennial...it's because getting enough money seems like an impossible task. Salaries at companies are not keeping up with inflation, it is difficult to get a higher paying job. Companies don't reward loyalty. Housing and rent are increasing at an absurd rate. We're getting married in our 30s+ (if we get married, a lot of people in my generation don't want to start a family) rather than starting a family in the early 20s like older generations did so there's not much need for money. It increasingly seems like hard work and effort are not rewarded. And so life for millennials and younger is way different than it was for boomers and older. Life is more like being a vagabond rather than the stereotypical financially-successful family-oriented life of older generations. I blame the social breakdown over the last two decades and I blame the failed economy. Just have to live life day-by-day and whatever happens, happens.
- xwdv 5y ago
  Do not blame social breakdown and failed economies, first and foremost blame yourself. It is not difficult to get high paying jobs. I also don’t understand what loyalty has to do with anything. I’ve not been loyal to any company and have only gotten better and better jobs with ever increasing salaries.
- DougN7 5y ago
  That may or may not be true in general, but individuals can still make a good life for themselves. Education is usually they key (there are always exceptions). As older people retire, people move up in companies. There will be and are people of your exact generation and age moving up and making a good living. You can do it too.

by xwdv 5y ago

pxmpxm 5y ago

I would expect this to be a consequence of the "do what you love" mentality that seems to be popular of late, especially when coupled with irrational educational decisions ($250k for a social work degree at NYU etc). It's almost as if the "oh i actually need money" epiphany only happens later in life and leads to the dynamic you mentioned.

xwdv 5y ago
You can do what you love but does what you do love you back? Clearly not if it makes you destitute.

vinyl7 5y ago

From my perspective as a millennial...it's because getting enough money seems like an impossible task. Salaries at companies are not keeping up with inflation, it is difficult to get a higher paying job. Companies don't reward loyalty. Housing and rent are increasing at an absurd rate. We're getting married in our 30s+ (if we get married, a lot of people in my generation don't want to start a family) rather than starting a family in the early 20s like older generations did so there's not much need for money. It increasingly seems like hard work and effort are not rewarded. And so life for millennials and younger is way different than it was for boomers and older. Life is more like being a vagabond rather than the stereotypical financially-successful family-oriented life of older generations. I blame the social breakdown over the last two decades and I blame the failed economy. Just have to live life day-by-day and whatever happens, happens.

xwdv 5y ago
Do not blame social breakdown and failed economies, first and foremost blame yourself. It is not difficult to get high paying jobs. I also don’t understand what loyalty has to do with anything. I’ve not been loyal to any company and have only gotten better and better jobs with ever increasing salaries.
DougN7 5y ago
That may or may not be true in general, but individuals can still make a good life for themselves. Education is usually they key (there are always exceptions). As older people retire, people move up in companies. There will be and are people of your exact generation and age moving up and making a good living. You can do it too.