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Wait until Gen X hits retirement, which is coming right up. Markedly lower inflation-adjusted net worth at-same-age than Boomers. And of course Millennials are

Wait until Gen X hits retirement, which is coming right up. Markedly lower inflation-adjusted net worth at-same-age than Boomers. And of course Millennials are even worse off than that. Gonna be a large swell of elderly poverty. We have that and a medical care cost problem set to reach crisis levels around the same time. The only meaningful activity right now that might alleviate any part of either problem is… Ozempic, LOL.

paulpauper 2y ago
I think it's more like a barbell. Some millennials doing really well, like inheritance and big salaries and home ownership, but on the other extreme is the college-educated barista.
- nytesky 2y ago
  Aren’t they comparing medians, so it accounts for the tiny percentage do tech/finance that do well? I mean there were junk bonds and corporate raiders in the 80s, as well as the 90s stock bonanza and 2000s real estate. Even a state employee could afford a decent house and saw their net worth explode as housing exploded. That isn’t happening for GenX and Millennials…
  - paulpauper 2y ago
    That isn’t happening for GenX and Millennials… there are entire subs on reddit communities full of young people with sizable incomes/wealth. FIRE subs, tech subs, investing, and so on. The FANG job is today's '80s Wall Street job. Biased sample, sure, but it's still a lot of people. State employees still make good income. I think the only sector that has done the worst is retail.
    - nytesky 2y ago
      I think you just a vocal minority on social media. It does seem likely that Millenials and GenZ may do better than boomers. https://fortune.com/2024/04/30/high-status-millennials-boomers-wealth-retirement-inflation/ https://fortune.com/2024/04/30/high-status-millennials-boome...
- GeoAtreides 2y ago
  > more like a barbell the technical term is bimodal distribution
paulnpace 2y ago
My understanding is mortality rates are higher starting with Gen X, so fewer of them will have to deal with it.
- teractiveodular 2y ago
  That seems to be driven largely by fentanyl, which has quintupled the number of deaths from drug overdose since 2000 (the current tally is over 100k per year). Demographically, these people are unlikely to have much in the way of retirement savings.
  - paulnpace 2y ago
    When I looked into this a few years ago, it was across the board. The Fentanyl issue is very visible, but it's all the things when you compare generation to generation.
scruple 2y ago
> Gonna be a large swell of elderly poverty. To some measurable degree, it's always been this way. How many snowbird communities in Florida are just shitty trailer parks with Gulf access? > The only meaningful activity right now that might alleviate any part of either problem is… Ozempic, LOL. I invested heavily in $NVO ~1 year ago at ~$50. Lucky me...
jrs235 2y ago
You want real controversy? Medicare/Medicaid is prolonging the lives of people that don't have money and need others to pay their bills/service their needs. Do corporations exist for humanity or does humanity exist for corporations? (Funny enough I rewatched The Matrix last night. Seems humans exist for AI/imaginary made up beings aka corporations, well actually those that own them and hide behind their limited liability).

paulpauper 2y ago

I think it's more like a barbell. Some millennials doing really well, like inheritance and big salaries and home ownership, but on the other extreme is the college-educated barista.

nytesky 2y ago
Aren’t they comparing medians, so it accounts for the tiny percentage do tech/finance that do well? I mean there were junk bonds and corporate raiders in the 80s, as well as the 90s stock bonanza and 2000s real estate. Even a state employee could afford a decent house and saw their net worth explode as housing exploded. That isn’t happening for GenX and Millennials…
- paulpauper 2y ago
  That isn’t happening for GenX and Millennials… there are entire subs on reddit communities full of young people with sizable incomes/wealth. FIRE subs, tech subs, investing, and so on. The FANG job is today's '80s Wall Street job. Biased sample, sure, but it's still a lot of people. State employees still make good income. I think the only sector that has done the worst is retail.
  - nytesky 2y ago
    I think you just a vocal minority on social media. It does seem likely that Millenials and GenZ may do better than boomers. https://fortune.com/2024/04/30/high-status-millennials-boomers-wealth-retirement-inflation/ https://fortune.com/2024/04/30/high-status-millennials-boome...
GeoAtreides 2y ago
> more like a barbell the technical term is bimodal distribution

paulnpace 2y ago

My understanding is mortality rates are higher starting with Gen X, so fewer of them will have to deal with it.

teractiveodular 2y ago
That seems to be driven largely by fentanyl, which has quintupled the number of deaths from drug overdose since 2000 (the current tally is over 100k per year). Demographically, these people are unlikely to have much in the way of retirement savings.
- paulnpace 2y ago
  When I looked into this a few years ago, it was across the board. The Fentanyl issue is very visible, but it's all the things when you compare generation to generation.

scruple 2y ago

> Gonna be a large swell of elderly poverty. To some measurable degree, it's always been this way. How many snowbird communities in Florida are just shitty trailer parks with Gulf access? > The only meaningful activity right now that might alleviate any part of either problem is… Ozempic, LOL. I invested heavily in $NVO ~1 year ago at ~$50. Lucky me...

jrs235 2y ago

You want real controversy? Medicare/Medicaid is prolonging the lives of people that don't have money and need others to pay their bills/service their needs. Do corporations exist for humanity or does humanity exist for corporations? (Funny enough I rewatched The Matrix last night. Seems humans exist for AI/imaginary made up beings aka corporations, well actually those that own them and hide behind their limited liability).