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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 8
by 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 agoThat 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 agoI 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...