Millennials continue to get the big shaft. massive rents, college debt, mcjobs etc..

[Hugo Drax]

Wow add insult to injury now they get to pay record rents. http://www.cnbc.com/2015/08/17/rents-are-rising-but-there-are-ways-to-stretch-your-dollar.html

So High college debt, rents going through the roof, cost of living going up, unpaid internships (vs back in the days paid apprenticeships) College degree required pretty much for any job, house ownership getting harder to attain, Mcjobs (all the good jobs are being contracted out to H1B over time) and robots.

It seems like for Millennials, the music stopped and they are left without a chair to sit on.

 

[Genx87]

You know not to sound like an aging cynic. But I remember going through high school and was lectured how my generation was going to have the worst time of it. College education wasnt worth it, we would be working at fast food restaurants with a bachelors degree ect ect. It is the same recycled argument every generation has had since probably the beginning of time. None of it came true.

Anyways the rental situation is made worse by all the people who ran away from their homes because the book value dropped like a rock. Now they are having a hard time qualifying for a mortgage but need a place to live. It shouldnt surprise people the cost of rents has greatly increased since the housing market crashed.

 

[Hugo Drax]

You know not to sound like an aging cynic. But I remember going through high school and was lectured how my generation was going to have the worst time of it. College education wasnt worth it, we would be working at fast food restaurants with a bachelors degree ect ect. It is the same recycled argument every generation has had since probably the beginning of time. None of it came true.

Anyways the rental situation is made worse by all the people who ran away from their homes because the book value dropped like a rock. Now they are having a hard time qualifying for a mortgage but need a place to live. It shouldnt surprise people the cost of rents has greatly increased since the housing market crashed.

Well not true, it was a good time for my generation and my dads generation. I lived through it and he did and it was much better overall in terms of jobs etc..

It sucks for Millennials, much higher bar for them. I am glad not to be born a Millennial.

 

[cbrunny]

I'm a millennial.

 

[Hugo Drax]

I'm a millennial.

sucks to be you.

 

[cbrunny]

sucks to be you.

Nah I'm good. I have three university degrees, a wife, two dogs, two cars, a mortgage, and no non-mortgage debt.

 

[Hugo Drax]

Nah I'm good. I have three university degrees, a wife, two dogs, two cars, a mortgage, and no non-mortgage debt.

Damn you need 3 degrees to get there. Whats your networth - debts?

hopefully you are able to save a little cash every month.

 

[cbrunny]

Damn you need 3 degrees to get there. Whats your networth - debts?

Well the only debt I carry is my mortgage. I'd rather not get too deep into financial details but my networth is healthy for someone my age.

 

[OverVolt]

You know not to sound like an aging cynic. But I remember going through high school and was lectured how my generation was going to have the worst time of it. College education wasnt worth it, we would be working at fast food restaurants with a bachelors degree ect ect. It is the same recycled argument every generation has had since probably the beginning of time. None of it came true.

Anyways the rental situation is made worse by all the people who ran away from their homes because the book value dropped like a rock. Now they are having a hard time qualifying for a mortgage but need a place to live. It shouldnt surprise people the cost of rents has greatly increased since the housing market crashed.

Hmm when was this? I actually have most of this stuff modeled out. Sounds like 1970's engineers being scared calculators were going to take all their jobs.

Sometimes stuff like that is blown out of proportion, sometimes your career field is the next elevator operator. Just requires good analysis.

On paper millenials are screwed. In the past I think due to the 1987/2001 crashes people were saying Gen X was screwed, but on paper they were not. Initially everyone was saying millennials were fine, turns out they are screwed. Initially people insisted Gen X was screwed, turns out they were fine. That tends to be the way it works.

 

[Genx87]

Hmm when was this? I actually have most of this stuff modeled out. Sounds like 1970's engineers being scared calculators were going to take all their jobs.

Sometimes stuff like that is blown out of proportion, sometimes your career field is the next elevator operator. Just requires good analysis.

On paper millenials are screwed. In the past I think due to the 1987/2001 crashes people were saying Gen X was screwed, but on paper they were not. Initially everyone was saying millennials were fine, turns out they are screwed. Initially people insisted Gen X was screwed, turns out they were fine. That tends to be the way it works.

Early to mid 1990s. Graduated from college Spring of 2001 with an MIS degree. Perfect timing!

 

[child of wonder]

Nah I'm good. I have three university degrees, a wife, two dogs, two cars, a mortgage, and no non-mortgage debt.

Three degrees? That sucks. I like my two year degree.

 

[cbrunny]

Three degrees? That sucks. I like my two year degree.

Doesn't suck. Yeah lots of school but I am happy. I was a good student & came out of all three degrees debt free. To each their own!

 

[OverVolt]

Doesn't suck. Yeah lots of school but I am happy. I was a good student & came out of all three degrees debt free. To each their own!

Scholarships are a myth in 2015

 

[child of wonder]

Doesn't suck. Yeah lots of school but I am happy. I was a good student & came out of all three degrees debt free. To each their own!

I'm not a fan of school and would hate pursuing that many degrees. I was a bad student and came out with more debt than was necessary since we needed the extra income due to immature choices (FYI - sex makes babies).

When pursuing my Associate's Degree I remember how all the other students and some of the faculty lamented on how worthless a two year degree was and that we should all be making plans to get a Bachelor's degree. Ten years after graduating I still find they couldn't have been more wrong.

Congrats on your success!

 

[realibrad]

So what about me?

I don't have a college degree. I am almost 30 and bought a house with my GF almost 2 years ago for 250k. She does have a degree and up until recently was only making a little more than I was. I dont have any debt and make well above minimum wage or a McJob.

Other than my house, I have zero debt. My GF is the same. We do not get and have not gotten any financial once we got out of high school. I got a 1986 VW Jetta to get to FL. She got a 1994 corolla and that was it. I then bought a new car after getting to FL which I have now paid off.

How are we able to live our lives?

 

[child of wonder]

Wow add insult to injury now they get to pay record rents. http://www.cnbc.com/2015/08/17/rents-are-rising-but-there-are-ways-to-stretch-your-dollar.html

So High college debt, rents going through the roof, cost of living going up, unpaid internships (vs back in the days paid apprenticeships) College degree required pretty much for any job, house ownership getting harder to attain, Mcjobs (all the good jobs are being contracted out to H1B over time) and robots.

It seems like for Millennials, the music stopped and they are left without a chair to sit on.

My lamentation for millennials starts when I see how society and parents continue to pile on the myth that only with MOAR school can someone be successful and the particular school you choose matters so greatly for the rest of your life.

The reality is, none of these are true and I know many, many people who are walking contradictions to that school of thought. What matters is work ethic, planning, drive, networking, and attitude. Education is certainly important and I'd strongly advocate my children attending college, but whether they go to Harvard or SmallTown Community college doesn't matter near as much as the aforementioned qualities.

Kids today are spoon fed the lie that college equals success, which leads them to accumulate infuriating amounts of life altering debt from a selection of schools that are driven by profit over their students' success. And we made that atmosphere for them, we perpetuate it, and hopefully we correct it before it gets any worse.

 

[OverVolt]

So what about me?

I don't have a college degree. I am almost 30 and bought a house with my GF almost 2 years ago for 250k. She does have a degree and up until recently was only making a little more than I was. I dont have any debt and make well above minimum wage or a McJob.

Other than my house, I have zero debt. My GF is the same. We do not get and have not gotten any financial once we got out of high school. I got a 1986 VW Jetta to get to FL. She got a 1994 corolla and that was it. I then bought a new car after getting to FL which I have now paid off.

How are we able to live our lives?

Sounds like you are one emergency away from ruin actually.

 

[Murloc]

Nah I'm good. I have three university degrees, a wife, two dogs, two cars, a mortgage, and no non-mortgage debt.

you must be a early millenial then.

There are no hard borders, and given that millenials end with those born in 2000 or something, there are different outcomes for different sections of millenials.

 

[saratoga172]

Doesn't suck. Yeah lots of school but I am happy. I was a good student & came out of all three degrees debt free. To each their own!

I personally would say it sucks. Happily employed as a sysadmin with no degree. I'll follow that by saying I was hired out of school after an internship and haven't finished my degree yet. Hard to go back when I get a promotion every year...and more responsibility and stuff to do.

 

[cbrunny]

Scholarships are a myth in 2015

heh. Right. I work at a University. I know they're not a myth. Also I worked my ass off earning money to pay for school. Also, Canada.

 

[cbrunny]

you must be a early millenial then.

There are no hard borders, and given that millenials end with those born in 2000 or something, there are different outcomes for different sections of millenials.

1986, so whatever that is.

 

[cbrunny]

I personally would say it sucks. Happily employed as a sysadmin with no degree. I'll follow that by saying I was hired out of school after an internship and haven't finished my degree yet. Hard to go back when I get a promotion every year...and more responsibility and stuff to do.

Congrats on your success! I stand by my comment. I'm happy with how I got to where I am. To each their own.

 

[OverVolt]

heh. Right. I work at a University. I know they're not a myth. Also I worked my ass off earning money to pay for school. Also, Canada.

http://www.washingtonpost.com/business/get-real-on-scholarships/2011/03/08/ABM4LfR_story.html

Kantrowitz starts out with some truth-telling. The fact is, very few students receive enough scholarships and grants (including state and federal need-based and non-need-based aid) to cover all college costs. Of the students enrolled full time at four-year colleges in the 2007-08 school year, only 0.3 percent (be sure you read that right: not 3 percent but 0.3 percent) received enough money to cover the full cost of attendance, according to Kantrowitz, whose statistics come from the National Postsecondary Student Aid Study and analyses of various Fastweb databases.

Also... Canada isn't the US.

Canada in many ways is better off. At least when it comes to college costs.

 

[cbrunny]

http://www.washingtonpost.com/business/get-real-on-scholarships/2011/03/08/ABM4LfR_story.html


Also... Canada isn't the US.

Canada in many ways is better off. At least when it comes to college costs.

Holy shit I can't believe that .3% of students receive enough money to cover everything. That is shockingly high (no sarcasm).

I certainly didn't! Not even close.

 

[OverVolt]

Holy shit I can't believe that .3% of students receive enough money to cover everything. That is shockingly high (no sarcasm).

I certainly didn't! Not even close.

I'm facepalming so hard right now. I'm just going to chalk this up to "he doesn't know where his money even comes from."

You're like... an adult child. You have no idea how much it actually cost you to go to college.