Four Reasons Why Millennials Don't Have Any Money

[appalachiablue]

'America Has Failed Its Millennials,' by Robert Reich. The same forces that are driving massive inequality between the top 1 percent and the rest of us are creating a vast generational wealth gap between baby boomers — my generation — and millennials.
Millennials aren’t teenagers anymore. They’re working hard, starting families and trying to build wealth. But as a generation, they’re way behind. They’re deeper in debt, only half as likely to own a home, and more likely to live in poverty than their parents..https://www.truthdig.com/articles/robert-reich-america-has-failed-its-millennials/

~ Millennials b. 1981-1996.

[RandySF]

1. If millennials don't have money

how are they gentrifying families out of cities all over the country?

[appalachiablue]

3. Well paying jobs, family $, wealthy parents; not the majority though.

[Yavin4]

7. Gentrified neighborhoods are cheap places to live at the start of the gentrification process.

Over time, they get more expensive.

[msongs]

2. cellphones, online/cable tv, xpensive cars, $8 coffees every day ? nt

[appalachiablue]

4. That's far from the norm, a stereotype. The millennials got robbed.

[Cirque du So-What]

6. OK Boomer

I may be old, but I’m not an old fart.

[Aussie105]

9. Well, someone is making those companies rich!

And I know it isn't me!

[vercetti2021]

11. I hate this

My cellphone would be the only expensive thing I own. I have a beat down old truck, I drink canned coffee, I have only Netflix. I hate this bs stereotype. I work a full time and part time job. Yeah I'm really living it up. No I'm having a hard time making my life work.

[Hoyt]

5. Millennials are what? 30 or so. I'm not shocked they don't own homes, etc.

Christ, I sure didn’t until in my late 40s. Of course, I was living by myself.

We do need to increase taxes on wealthy, reduce college debt, and start concentrating on affordable housing.

[Aussie105]

8. Every generation says this.

They look at what their parents possess, and go 'not fair!'

They don't realise the struggle earlier generations had to get to where they are.

Millennials want to short circuit the age 30 to 50 struggle stage, and go straight to 'I got it all!'

Didn't own a new car until I was 67, well off Boomer, I'm not.
(But I'm not complaining, my father bought his own, first, very used car at age 45, and my parents didn't own a refrigerator until around that age.)

But boomers learnt this message from their parents really well, 'If you want money, you better get a good job!'
Millennials, not so much.

Millennial: I got no money! You got some! Gimme!
Me: NO! If I give you money now, you will just keep coming back for more. I'm not the family ATM. What job do you have?
Millennial just looks confused . . .