what retirements
At any point in their lives, Millennials will have about 1/4th the buying power of Boomers.
At any point in their lives, GenZ will have about 1/4th the buying power of Millennials, anout 1/16th the buying power of Boomers.
Wealth redistribution is now required for current and future generations to obtain human needs from their society again.
Wealth is already being redistributed, just in the wrong direction.
At any point in their lives, Millennials will have about 1/4th the buying power of Boomers.
At any point in their lives, GenZ will have about 1/4th the buying power of Millennials, anout 1/16th the buying power of Boomers.
Can I get the source on that? Feels right, but I want to be able to reference it.
The numbers are “made up” and not based on any data. The data we do have is much more complex, murky, and even intentionally compromised to fit a narrative.
A more accurate way of phrasing it is that older generations have hoarded finite resources, locking younger generations out of milestones like buying homes, which also means locking them out of building equity and setting down community roots, which means a higher percentage of their money is spent on surviving instead of living, which makes them delay or abandon starting families, etc.
If you look at the studies, they will try to argue to generational “wealth” is akshually increasing against inflation and cost of living. But if you look more closely, you will also notice how they conveniently avoid the aforementioned facts. So while those fractions are not based on actual measurements, they still convey a very real concept that is being felt deeply and not being appropriately measured or dealt with.
Do you have a source I can share?
MVP for coming thru on a source
Good source, thanks! I wish it also showed Gen Z
Well older gen z in 2019 were barely starting to become adults. Most of us were still teens by that time
Indeed, but the oldest Gen Z are now 29, it would be nice to have more recent data.
Yeah but we only have 6 year old data
Which makes sense, data takes a while to compile and release. It just means that someone like myself, who’s in their late 20’s, isn’t part of the data set. We’re probably doing even worse than the millennials.
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thats a lie. gen z doesn’t have retirements
I have some RRSPs, but it’s hard to contribute with the cost of rent and living.
that’s boomer as fuck yo. like, in a good way. congrats on having some retirement
This covers gen-X and millennials too. I’ve had more than a handful of friends that have had to do this during their lifetimes but I’ll grant you it’s definitely worse now than even a decade and a half ago.
I’ve pulled loans from retirement twice, and thank God I was able to pay them back. I dunno what I will do without my widele 401k.
OMG people are dipping into their savings and using money just to get by.
Want to read about it? Okay pay me plus see all the ads we have.
Not like any of us expect the money to still be there or be worth anything when we’re 60+ years old (or whatever they move the goalpost to)
Yeah, the world is too expensive to live in right now. Who can plan for a future when you can’t catch up with the past.
Good. The worse things get for the most people the better the chance for real change. At this point I don’t care if it’s societal collapse, revolution, corporate overlord ship or fucking whatever, just get to the point already, I can’t deal with another thirty years of circling the fucking drain and I’d really appreciate it if I could start Mad Maxing it while I’m young enough to enjoy.
It is indeed getting tedious. I’m under no delusions that the collapse of society is going to improve my situation at all, but it would likely be less fucking boring than showing up at work every day just to continue existing till the next payday.
It’s not just Gen z I say as a millennials
I’m not sure what’s up with Z. Young men leaning hard towards trump, lots of backlash against female characters in movies, following toxic men like Andrew Tate and Jordan Peterson. It’s like they’re becoming boomers. (Not saying they’re ALL like this, just a very surprising and growing number are.)
so the plan is working
You guys are getting retirements???
My retirement plan is to buy a gun for whenever I develop a disease that I can’t afford to treat so I don’t die in uncontrollable pain
Take a billionaire with you please. Or damage their property, go out in protest, whatever works I guess
Ahh the Smith & Wesson retirement plan. I’m on that one too, was only $99 during a Christmas sale a few years ago lol
It’s all those avocado toasts, they should join Avocado Anonymous.
/S
What retirement? I am Gen X and dont have that. But I do have shit ton of possessions. Luckily not in the position to have sell them off.
Also bullshit where these Gen Z parents. My Gen Z sons aren’t suffering this fate. So far my middle son just turn 18 an adulting okay. Yeah still lives at home which sucks, by his age I had a one bedroom apartment. But he is savimg for college and will move out once he has 10k saved up.
It’s tougher but with good parenting and knowing the pit falls in life I can guide him to success even in this hell hole.
Doesn’t have to be this way, but until we rise and demand better nothing going change. So I will do what I got to do for him succeed. It’s up to us Gen X and millenniums to stand up for Gen Z. Its a class war folks need to fight like it is.
You’re missing the point.
If your son didn’t have you to depend on for financial and emotional support, they would be homeless through no fault of their own, like everyone else who doesn’t have that kind of support system.
They aren’t “adulting” if they can’t live independently.
And pretending like this situation is fine is part of why we have let it get so bad in the first place.
I had zero support system when I moved out on my own and yes I survived, but look at the cost of things and guess what it isn’t fucking inflation Its fucking greed!
My first place was a 2 bedroom duplex that cost me 300 a month. Not best neighborhood but in 1997 not bad. Fast forward 2001 working at Walmart had a one bedroom apartment for 360 a month. Go look that same apartment today. Just looked it up fucking 958 for same place. That place with inflation should be no more then 600. How the fuck do they expect anyone to afford that at today wages?
So yes he is adulting best he can. But promise he wont be 21 still living at home. Shit I hear kids older then that are. Some 25 year olds with college degrees are trap at home.
I’m in the Los Angeles area. Studios are going for $3,200/month LMAO
Well for Athens Texas that is way out of reach. Were taking small town here with no industry. They have a community college or did when I live there. But it was a town of old money that refused to let the place grow.
Give all your belongs to to the poor.
Do it right now.
Don’t reply to me. Just do it.
I’m not sure why you’re being downvoted, what you’re saying is pretty much what everyone else is.
You’re acknowledging that corporate greed and class warfare is the problem. You’re using your position as a parent in a half decent financial situation to help your kids where you can. You’re not wrong.
You’re not blaming gen Z at all but I fear without punctuation people might be misinterpreting. Every last bit of collective effort helps.
Your sons are fortunate to have you as a parent.
Probably people upset that I am able to provide and help my kid succeed when a lot of them can’t support themselves. It sucks we shouldn’t be fighting one other. Instead we should be joining forces and helping one another succeed. We need community now more than ever
I am Gen X
Your god damn generation voted for MAGA, and keep supporting his actions. Physically correct your mistakes, you absolute ignorant shithead. YOU ARE RESPONSIBLE FOR THIS. FIX YOUR MISTAKE. STOP CONNECTING ONLINE, THERE’S A FASCIST TAKING YOUR SHIT. GIVE A SHIT OR FUCK OFF.
So because some people who are roughly his/her age voted for trump that makes him/her responsible for a government coup? Are you fucking stupid or did you type that with a stick up your ass?
Giving you one simple retrospective, in hopes you’re not pulling my leg:
I’m [the generation that exacerbated the problem, I did jack shit to prevent it from happening to my kids, and their kids, forever, therefore you should read my lie on lemmy as if I have authority on the problem I did nothing to deter.]
Six fucking decades to revert back Regan’omics, and you are going to tell me that the generation that killed free tuition to be a racist shithead isn’t responsible for his actions?
Like fuck you, if you believe his generation didn’t continue to fuck us over.
Asshole I was just born when Regan became president. Blame my parents not really my mom since she was 15 and couldn’t vote. Besides my parents were Democrats back then so they probably wouldn’t have voted for him. I know later in life my dad hated Republicans and even my grandparents made sure we kids understood we were Democrats.
I learned early on that Red vs Blue was always a sport even way back then.
Hey, Asshole. If your family knew the problem, and they did nothing, and didn’t teach you how to get rid of Nazis, why am I the asshole for dealing with the consequences of your reelected Felon?
By that logic all black people are criminals because some black people commit crimes. You can’t just group people up and assume they’re all guilty, there’s a reason we have courts in all developed countries. Some people from generation Z voted for tRump that sure as shit doesn’t make me a fascist. There’s only so much one person can do alone and you have no evidence that individual did anything to deserve your ill behavior.
mf, you really played the race card, on a freaking convict who admitted to do shit for your stupid ass, and that of your kids.
fuck off, block me, block the entire instance, delete your account, burn your router, sell off your ISP, and end your fucking deathcamps you statistical liar piece of shit.
Instead of typing your diarrhea my way, go to the camps, and liberate folks, you damned fascist by compliance.
You should go to a neurologist for your anger issues if you’re not already.
Already have. They say the cure to fascism is absolute annihilation. Are you going to let fascists continue to death camp us?
No fucker, America voted for Trump.
Gen X 🇺🇲* did. Fredselfish is 🇺🇲.
I voted for Harris and I am what you call a Bernie bro since I voted for him twice and knock doors for him and donated money I didn’t have to him. Also I consider myself left of Sanders. I don’t believe you can work within the capitalist system and do what Bernie wants. He does.
I can’t suspend my belief with you, if you already confessed your parents and yourself are long time Democrats that didn’t even whiff Trump and his Nazis in the 80s, had reelected him after his conviction of felonies.
Next you’re going to tell me your parents didn’t write a big C on my apartment applications either.
Again, how should Nazis be dealt with?
My parents don’t own apartments and don’t know what the letter C means. But not going engage with you anymore. Apparently you’re hell bent on blaming me for all your issues. Maybe go talk to your parents since they are just as much if not more to blame.
For me I know my parents are shit and pulled the ladder up from behind them. And I have and can loath it and harp on it. But it changes nothing. All I can do is be a better parent and person then them. And do my best to make it through this hell.
I know my parents are shit and pulled the ladder up from behind them
Something we agree with, Granpa. Now, lower that ladder again, or you’re just like your shit parents.
