Millennials or at least many of them make bad decisions and choose to delay responsible adult milestones favoring short term happiness and independence over long term wealth accumulation. Watch the next generation, Gen Z as they show very positive signs in achieving success and should crush Millennials in generating wealth. Get Zs are Savvy consumers and they know what they want and how to get it.
From the article: For example, millennials should consider themselves lucky that college is more readily available to them (this includes the poor) than any previous generation. Yet, no one says they have to rack up hundreds of thousands of dollars in debt by going to expensive schools. But the tradeoff for a higher education is often more debt, and delayed wealth.
College is too expensive for a host of reasons. No one says we live in a utopia. Yet, in the years before the government injected moral hazard into the equation by backing loans for every useless journalism degree, both lender and borrower had to weigh the compromises of debt. Perhaps being a well-read and well-rounded person with a fine arts degree is more important to you than an engineering degree and a big paycheck. That’s fine. That’s a choice.
Every generation has lived through recessions (in fact, we’re lucky that we haven’t had another one yet). Many of those downturns inflicted far more tangible damage to the everyday lives of Americans than the recession of 2007. The rush to transform 2007 into the biggest tragedy of American history was largely driven by political reasons. Now it’s used as a crutch to explain the alleged unique hardships of an entire generation.
By the end, the decades of the 2000s and 2010s will have had average unemployment rates on par, or better, than in the ’70s, ’80s and ’90s. For young millennials, this is what the unemployment rate looks like since they began their working life:
If a young millennial began working during the Obama administration, he would have, at worst, seen four quarters of negative growth.
Of course life has a new set of challenges for every generation, and no one expects millennials to sit around prefacing every complaint by noting, “Hey, life is better for me in so many ways.” But it’s simply untrue, despite a sense of unearned victimhood, that millennials have it harder than those who came before them. In most ways, the opposite is true.
https://thefederalist.com/2019/05/21/the-conventional-wisdom-about-millennial-suffering-is-a-myth/
From the article: For example, millennials should consider themselves lucky that college is more readily available to them (this includes the poor) than any previous generation. Yet, no one says they have to rack up hundreds of thousands of dollars in debt by going to expensive schools. But the tradeoff for a higher education is often more debt, and delayed wealth.
College is too expensive for a host of reasons. No one says we live in a utopia. Yet, in the years before the government injected moral hazard into the equation by backing loans for every useless journalism degree, both lender and borrower had to weigh the compromises of debt. Perhaps being a well-read and well-rounded person with a fine arts degree is more important to you than an engineering degree and a big paycheck. That’s fine. That’s a choice.
Every generation has lived through recessions (in fact, we’re lucky that we haven’t had another one yet). Many of those downturns inflicted far more tangible damage to the everyday lives of Americans than the recession of 2007. The rush to transform 2007 into the biggest tragedy of American history was largely driven by political reasons. Now it’s used as a crutch to explain the alleged unique hardships of an entire generation.
By the end, the decades of the 2000s and 2010s will have had average unemployment rates on par, or better, than in the ’70s, ’80s and ’90s. For young millennials, this is what the unemployment rate looks like since they began their working life:
If a young millennial began working during the Obama administration, he would have, at worst, seen four quarters of negative growth.
Of course life has a new set of challenges for every generation, and no one expects millennials to sit around prefacing every complaint by noting, “Hey, life is better for me in so many ways.” But it’s simply untrue, despite a sense of unearned victimhood, that millennials have it harder than those who came before them. In most ways, the opposite is true.
https://thefederalist.com/2019/05/21/the-conventional-wisdom-about-millennial-suffering-is-a-myth/
