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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.
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.
I am in my early 20s and yeah it kinda sucks
Wealth is already being redistributed, just in the wrong direction.
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
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.
It's not just Gen z I say as a millennials
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.
You guys are getting 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.
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 retirements
Funny, I did the same and I'm almost a boomer.
so the plan is working
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.)