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
what retirements
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.
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.
You guys are getting retirements???
It’s all those avocado toasts, they should join Avocado Anonymous.
/S
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
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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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)
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
Ahh the Smith & Wesson retirement plan. I’m on that one too, was only $99 during a Christmas sale a few years ago lol
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.
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
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.
Funny, I did the same and I’m almost a boomer.
