Stop the lies, our parents did care about fashion and going on dates. Most families felt they needed cable tv & a home phone, which are not cheap expenses. Things were cheaper back then and tax was less heavy & most importantly RENT was more reasonable. That’s why so many people like me in our 20s don’t believe we’ll be able to afford a nice house cause the rent to survive is more than most mortgages and if you live in a state like Illinois your check gets eaten alive by taxes and everything you buy down to your groceries is heavily taxed! Let’s not act like we don’t know the true issue here! Politicians need to make the change!
My parents spent 20,000 dollars fixing their driveway and now they're complaining about not having enough money for retirement....it's like....what about that 20,000 you spent on the driveway. Did you really need that? I gave my mom my old car (in perfect condition and still running) as I decided to give up driving after I paid off the loan. She has bought at least 3 new cars since I've given her my old car (All 3 of them died and ironically used my car to get to and from work). Like why do you keep dumping all of this money on car loans when you have a perfectly fine car for free??? I gave it to her so she wouldn't have to keep spending money on car loans and she could save for retirement. I used to work at a travel company targeted old people(Baby Boomers) and the amount of people willing to dump 4000-5000 dollars on one business class seat is astonishing. Baby Boomers are amazing at just throwing money out the window and then they turn around and say we spend money on "useless things." It's like....yeah right....my 20 dollar pizza on Friday nights does not compare to the 20,000 dollars you spent on the driveway for no reason or the 5000 dollars you spent on one business class seat for your luxury trip to Greece. Like please....LOL
Same here. I will make over $75k this year and i live in a 5th wheel trailer on my parents property because rent is still expensive. And things are about to get tougher when student loans kick in. Most mllenials and the younger generation will probably never own a home.
@@felixthecat2786 , Sounds like your parents have never handled money very well Thank goodness I learned about saving my money and at 69 I won't need to depend on my children
@@felixthecat2786 LOL its sad. Im having tons of problems with my "grown" older sister in her 30s. And my moms advice is, why dont i just go to a hotel sometimes to get away(like isn't that a days pay or more just to SLEEP or what i pay x2 to take sick days at work AND PAY for the hotel???!?!?))) So what, im going to pay like $1000 a month for 4 days at the hotel?? Or like MORE THAN MY PAYCHECK to move out?? She wants me to fly many states away to visit her when my job only gives me 1 week a year. Like I'd be even more miserable AND even more broke!!! I work hard very hard for my money to throw it away due to me shet sister!!!! I work full time during the week and i work like 2 other other jobs. Basically im not home much and im always working for my coins and still my sister is beyond terrible to live with !!! I will never ever go to a hotel or airbnb in america. Its so expensive. My mom is the defitinition of cheap but gives me absurd financial advice. Make it make sense. And during 2020 she paid like $1200 ,to rent a car for me for 30 days!!!! I would NEVER. Literally 1000$$ would have got me like a whole MONTH in Europe at a decently nice airbnb or 1.5 european flights.😒 god. It's terrible what she is WILLING TO PAY FOR and thinks its reasonable advice to tell others to do the same. Especially the younger generation. I understand the gesture, im appreciative, but some things she does and her financial advice is ridiculous. Do i have to mention, she says she feels exhausted all the time from working? I get it, it is hard. I feel the same now. But literally i have done a lot of physically demanding work and i work way more than her. Its not even comparable. Its different generation. You cant just have 1 full time job. Now you need to hussle and still be broke living paycheck to paycheck! As for health insurance, she keeps urging me, because i do need to get checked out. But it would be almost half my paycheck. And my full paycheck cant even get me a place to rent. LOL. Literally the working poor with no health insurance and homeless
Yes, it’s definitely the cell phones and not the massive inescapable student loans, skyrocketing rents and property taxes, insanity of the auto market, and worthless stock market. Yes, yes, blame the one device that makes you employable in the modern workplace and cheap disposable TVs. Personal finance is a joke. Just an opportunity for people with economic means to look down on people who struggle. They’re already down. They don’t need your moral self-righteousness on top of it all.
Lol. If you have student debt you can't pay off, that's your own fault. The rest of those are just business cycles. If anything, assets hyperinflating harder means that they provide that many more investing opportunities.
@@dwadedunkedkobe I’m doing just fine. But, I have enough empathy and common sense to understand that it is very hard for a lot of people who are really trying.
That women on the right had some excellent points, the other two kept muddling it with the less realistic counter view. Our generation entered the work force when all the boomers where in their 50s and we all know how many boomers there were, so of course positions were not immediately opening up for others to move up. It’s sad I saw an article essentially stating millennials best bet at owning a home is an inheritance. So you need your parents to die? Wow. So it’s the same concept in the workforce. Waiting for you guys to retire. My generation is about 40 now. I’m 33 and because of entities that think they should be allowed to profit off younger generations by purchasing finite items, like land, I’ll probably not own a home until I’m 45. If I’m lucky. Entities like blackrock, invitational homes, monarch, homvester, came in and inflated the prices on an already inflated small inventory. They have the assets to sit on a home, so when they buy it they don’t need to sell it right away, like the typical situation of the past, the sellers needed the money to immediately buy a new home. That’s not happening anymore. Now cuz blackrock has trillions in assets it can sit on a home, make it a rental instead, wait until things are in the favor of Blackrock. It’s like playing the house in vegas. Banks are in bed with VCs they are practically one in the same with how they manipulate the market in their favor. Next you’re gonna add VC presidents to the FOMC and call that fair. How about another Homestead Act?
Most people live beyond their means without any type of savings- Some individuals think because they have a job that they could afford any and everything that they want---I know people who leased/financed $75,000 cars but only making 35k annually. The job market is scares; therefore, people must save and stop spending unnecessary money on things that they can't afford.
Listen, I'm 32, I make a solid but basic wage at a general office job, no credit card debt, I rely on public transpo b/c car payments plus insurance is too great an expense & I have to have two roommates to afford living in a place w/ reliable train/bus services. I get a lot of enjoyment out of my life, but I should be able to live alone in a place (WITHOUT BLACK MOLD) w/ decent transpo access & without it taking LITERALLY 65% of my gross income. There is a reason people totally disassociate & live off of credit & insane financing of cars. Facing the reality that our options are slim is difficult. Cost of living is completely out of hand & if that weren't the case, wayyyy more people would feel like "living w/in their means" was at least within reach.
It’s only going to get worse. We’re in multi income society where people get sick each other in ten years or less and move on. The middle class has been erased. College shouldn’t be considered the middle because it’s not worth it in most cases.
Yea and that’s why it angers me so much that we have “selective socialism” in this country in favor of corporations. Example 1, using our tax dollars in build back better, to build telecommunications towers in rural areas. That’s great but then Comcast gets to charge the very residents who built it, to use their internet service… why don’t we build it with our tax dollar and rent the use of it to Comcast? So we put money into the pot and then some third party entity with shareholder and stock buy back methods ends up profiting from it, indefinitely. Example 2, subsidies to medical research entities that then turn around that charge wtv they want for the medicine they created using our research money. Example 3, medical establishment, our taxes pay the healthcare of a select few, government workers, military, elderly, in the form of paying a middle man who then has complete control of the costs of service. If we are paying for some, why not all and just cut the middle men of the insurance company. There’s so many examples like this in USA yet the propaganda against socialism is that it’s corrupt… 😂 and yet think the precedent isn’t?
They hit the bull's eye on this one. The problem is not income but spending. People spend too much on iPhones, big screen TVs, food delivery apps, etc.
a 3 bedroom house around me is like 170k to 250k and on a single dad living pay to pay....i canr afford anything and im worried i wont be able to even help my kid get a car, or anything....its hopelessness....almost 75% are living pay to pay....only 10% to 15% of workers earn over 100k
I've seen these reports every year since before I was born. Income and expense are a see-saw. Always been that way. Wealth (new wealth) goes to those with EXTRORDINARY accomplishments. Not those that grumble about costs but those that achieve more.
When i was 18 I made 16$ an hour , when I was 30 I made 35$ an hour , at 36 I make 119$ an hour , it’s called persistence and moving up in your field .
You are very fortunate to be in the top 10% of earners due to your hard work and diligence. However, the vast majority of hard working Americans will not earn that much in their lifetime. 😢
@@lb8853 I make a little over 250k a year , not a top earner , and I started out as a Rodman with a land surveying company making 16$ an hour for 12 years there are hundreds upon hundreds of openings with construction companies and operators make 25-35 an hour and the machines drives themselves basically now with Trimble Earthworks
Yes but how many jobs like that are available? Im sure if there was an abundance of job postings offering that much money everyone would be earning that amount of money. Read on survivorship bias. People tend to inflate their success rather than luck which actually played a huge role in their position. Although I agree hard work does help in succeeding it is never guaranteed!
@@jon6309 agreed. Hard work is showing up everyday. The luck is what comes of that. You can be a very hard worker in the same place for over a decade in hopes to achieve a good pay out but ultimately at the whim of the employer. Unless you have a union to help you negotiate, your hard work could easily not be compensated adequately. And then the fact unions exist now, is a portion of luck. It’s lucky that some one else before our time, came together and took back some control over the value of their hard work. Like the 1892 Homestead Strike, where people literally died because they refused to work without union negotiations. That’s pretty luck that took place already and isn’t today. It’s lucky that other laws and policies came about. Lucky depending on what state you live in, your parents wealth. There are infinite variables of luck. Agreed.
The more $ companies pay their workers the more the prices for goods go up. It's a cycle, inflation. Some people get raises @ their jobs to combat inflation but it didn't even matter. What's the point in making more $ when everything costs more plus the more $ u make the more they take in taxes. It's ridiculous and sad.
Stop the lies, our parents did care about fashion and going on dates. Most families felt they needed cable tv & a home phone, which are not cheap expenses. Things were cheaper back then and tax was less heavy & most importantly RENT was more reasonable. That’s why so many people like me in our 20s don’t believe we’ll be able to afford a nice house cause the rent to survive is more than most mortgages and if you live in a state like Illinois your check gets eaten alive by taxes and everything you buy down to your groceries is heavily taxed! Let’s not act like we don’t know the true issue here! Politicians need to make the change!
My parents spent 20,000 dollars fixing their driveway and now they're complaining about not having enough money for retirement....it's like....what about that 20,000 you spent on the driveway. Did you really need that?
I gave my mom my old car (in perfect condition and still running) as I decided to give up driving after I paid off the loan. She has bought at least 3 new cars since I've given her my old car (All 3 of them died and ironically used my car to get to and from work). Like why do you keep dumping all of this money on car loans when you have a perfectly fine car for free??? I gave it to her so she wouldn't have to keep spending money on car loans and she could save for retirement.
I used to work at a travel company targeted old people(Baby Boomers) and the amount of people willing to dump 4000-5000 dollars on one business class seat is astonishing. Baby Boomers are amazing at just throwing money out the window and then they turn around and say we spend money on "useless things."
It's like....yeah right....my 20 dollar pizza on Friday nights does not compare to the 20,000 dollars you spent on the driveway for no reason or the 5000 dollars you spent on one business class seat for your luxury trip to Greece. Like please....LOL
Same here. I will make over $75k this year and i live in a 5th wheel trailer on my parents property because rent is still expensive. And things are about to get tougher when student loans kick in. Most mllenials and the younger generation will probably never own a home.
@@felixthecat2786 ,
Sounds like your parents have never handled money very well
Thank goodness I learned about saving my money and at 69 I won't need to depend on my children
@@felixthecat2786 LOL its sad. Im having tons of problems with my "grown" older sister in her 30s. And my moms advice is, why dont i just go to a hotel sometimes to get away(like isn't that a days pay or more just to SLEEP or what i pay x2 to take sick days at work AND PAY for the hotel???!?!?))) So what, im going to pay like $1000 a month for 4 days at the hotel?? Or like MORE THAN MY PAYCHECK to move out?? She wants me to fly many states away to visit her when my job only gives me 1 week a year. Like I'd be even more miserable AND even more broke!!! I work hard very hard for my money to throw it away due to me shet sister!!!! I work full time during the week and i work like 2 other other jobs. Basically im not home much and im always working for my coins and still my sister is beyond terrible to live with !!! I will never ever go to a hotel or airbnb in america. Its so expensive. My mom is the defitinition of cheap but gives me absurd financial advice. Make it make sense.
And during 2020 she paid like $1200 ,to rent a car for me for 30 days!!!! I would NEVER. Literally 1000$$ would have got me like a whole MONTH in Europe at a decently nice airbnb or 1.5 european flights.😒 god. It's terrible what she is WILLING TO PAY FOR and thinks its reasonable advice to tell others to do the same. Especially the younger generation. I understand the gesture, im appreciative, but some things she does and her financial advice is ridiculous.
Do i have to mention, she says she feels exhausted all the time from working? I get it, it is hard. I feel the same now. But literally i have done a lot of physically demanding work and i work way more than her. Its not even comparable. Its different generation. You cant just have 1 full time job. Now you need to hussle and still be broke living paycheck to paycheck!
As for health insurance, she keeps urging me, because i do need to get checked out. But it would be almost half my paycheck. And my full paycheck cant even get me a place to rent. LOL.
Literally the working poor with no health insurance and homeless
the property taxes are insane too! easily 5-6k$ a year- on rentals you get no discounts-
Yes, it’s definitely the cell phones and not the massive inescapable student loans, skyrocketing rents and property taxes, insanity of the auto market, and worthless stock market. Yes, yes, blame the one device that makes you employable in the modern workplace and cheap disposable TVs. Personal finance is a joke. Just an opportunity for people with economic means to look down on people who struggle. They’re already down. They don’t need your moral self-righteousness on top of it all.
Lol. If you have student debt you can't pay off, that's your own fault. The rest of those are just business cycles. If anything, assets hyperinflating harder means that they provide that many more investing opportunities.
@@dwadedunkedkobe I’m doing just fine. But, I have enough empathy and common sense to understand that it is very hard for a lot of people who are really trying.
@@JB_Hobbies No, it isn't. If they're trying, it isn't hard.
It’s the gender studies or social
work degree with $100k in student loans. Bad decisions.
You are dodging accountability.
I think younger people have gotten tired of listening to older generations sitting on their nest eggs calling them lazy/unmotivated lol
These people talk about younger generations having disposable income. WHAT disposable income?
The issue with this program is not the high-quality guests, but the low-quality hosts asking childish questions based their personal feelings.
That women on the right had some excellent points, the other two kept muddling it with the less realistic counter view. Our generation entered the work force when all the boomers where in their 50s and we all know how many boomers there were, so of course positions were not immediately opening up for others to move up. It’s sad I saw an article essentially stating millennials best bet at owning a home is an inheritance. So you need your parents to die? Wow. So it’s the same concept in the workforce. Waiting for you guys to retire. My generation is about 40 now. I’m 33 and because of entities that think they should be allowed to profit off younger generations by purchasing finite items, like land, I’ll probably not own a home until I’m 45. If I’m lucky. Entities like blackrock, invitational homes, monarch, homvester, came in and inflated the prices on an already inflated small inventory. They have the assets to sit on a home, so when they buy it they don’t need to sell it right away, like the typical situation of the past, the sellers needed the money to immediately buy a new home. That’s not happening anymore. Now cuz blackrock has trillions in assets it can sit on a home, make it a rental instead, wait until things are in the favor of Blackrock. It’s like playing the house in vegas. Banks are in bed with VCs they are practically one in the same with how they manipulate the market in their favor. Next you’re gonna add VC presidents to the FOMC and call that fair. How about another Homestead Act?
No to metion the interest rates were so low most are not going to sell.
The system is functioning as designed.
Being aware is the first step
These people are out of touch with their caviar
They really do look like caviar consumers
Queue the boomers "ya need to go out and get a skill" like no one's ever thought of that
Life in USA is too expensive yet when younger people work multiple remote jobs to get ahead somehow they are still ridiculed.
Most people live beyond their means without any type of savings- Some individuals think because they have a job that they could afford any and everything that they want---I know people who leased/financed $75,000 cars but only making 35k annually. The job market is scares; therefore, people must save and stop spending unnecessary money on things that they can't afford.
Listen, I'm 32, I make a solid but basic wage at a general office job, no credit card debt, I rely on public transpo b/c car payments plus insurance is too great an expense & I have to have two roommates to afford living in a place w/ reliable train/bus services. I get a lot of enjoyment out of my life, but I should be able to live alone in a place (WITHOUT BLACK MOLD) w/ decent transpo access & without it taking LITERALLY 65% of my gross income. There is a reason people totally disassociate & live off of credit & insane financing of cars. Facing the reality that our options are slim is difficult. Cost of living is completely out of hand & if that weren't the case, wayyyy more people would feel like "living w/in their means" was at least within reach.
It’s only going to get worse. We’re in multi income society where people get sick each other in ten years or less and move on. The middle class has been erased. College shouldn’t be considered the middle because it’s not worth it in most cases.
I saw a bunch of Boomers invest in Beanie Babies and Cabbage Patch Dolls. This panel was obnoxious and specifically the CBS News actors.
No pension
Many of them are lazy who think TikTok is a career
Its not the tv or phone its the service provider service
Yea and that’s why it angers me so much that we have “selective socialism” in this country in favor of corporations. Example 1, using our tax dollars in build back better, to build telecommunications towers in rural areas. That’s great but then Comcast gets to charge the very residents who built it, to use their internet service… why don’t we build it with our tax dollar and rent the use of it to Comcast? So we put money into the pot and then some third party entity with shareholder and stock buy back methods ends up profiting from it, indefinitely.
Example 2, subsidies to medical research entities that then turn around that charge wtv they want for the medicine they created using our research money.
Example 3, medical establishment, our taxes pay the healthcare of a select few, government workers, military, elderly, in the form of paying a middle man who then has complete control of the costs of service. If we are paying for some, why not all and just cut the middle men of the insurance company.
There’s so many examples like this in USA yet the propaganda against socialism is that it’s corrupt… 😂 and yet think the precedent isn’t?
Time for that 2nd and 3rd job😮
They hit the bull's eye on this one. The problem is not income but spending. People spend too much on iPhones, big screen TVs, food delivery apps, etc.
It's hilarious how they neglected to address the increase of cost of living across the board.
Struggle is real
a 3 bedroom house around me is like 170k to 250k and on a single dad living pay to pay....i canr afford anything and im worried i wont be able to even help my kid get a car, or anything....its hopelessness....almost 75% are living pay to pay....only 10% to 15% of workers earn over 100k
Your kids should get a job and buy their own car like me at 16. Get a high paying job & save as much as possible!
The percentages add up to over 100%. People making over $100000 is 11% not 35%
I thought so too but it was rating how confident they felt out of the percent of that group over 100k earners
We used to pay $35 for a house phone. Today every family has at least 3 smartphones.
Hey kids, ever hear of the 60s...time for a revolution!!!!
Was going to like it for the topic. Leave disliking due to their actual mouths
Ummmm... this IS NOT shocking... this is how IT HAS ALWAYS BEEN!!!!!!!!!!
In other words: Your college degree is worthless.
Economic development reports from kids of baby boomers
Wagies Rise Up
I've seen these reports every year since before I was born. Income and expense are a see-saw. Always been that way. Wealth (new wealth) goes to those with EXTRORDINARY accomplishments. Not those that grumble about costs but those that achieve more.
When i was 18 I made 16$ an hour , when I was 30 I made 35$ an hour , at 36 I make 119$ an hour , it’s called persistence and moving up in your field .
You are very fortunate to be in the top 10% of earners due to your hard work and diligence. However, the vast majority of hard working Americans will not earn that much in their lifetime. 😢
@@lb8853 I make a little over 250k a year , not a top earner , and I started out as a Rodman with a land surveying company making 16$ an hour for 12 years there are hundreds upon hundreds of openings with construction companies and operators make 25-35 an hour and the machines drives themselves basically now with Trimble Earthworks
Yes but how many jobs like that are available? Im sure if there was an abundance of job postings offering that much money everyone would be earning that amount of money. Read on survivorship bias. People tend to inflate their success rather than luck which actually played a huge role in their position. Although I agree hard work does help in succeeding it is never guaranteed!
@@jon6309 agreed. Hard work is showing up everyday. The luck is what comes of that. You can be a very hard worker in the same place for over a decade in hopes to achieve a good pay out but ultimately at the whim of the employer. Unless you have a union to help you negotiate, your hard work could easily not be compensated adequately. And then the fact unions exist now, is a portion of luck. It’s lucky that some one else before our time, came together and took back some control over the value of their hard work. Like the 1892 Homestead Strike, where people literally died because they refused to work without union negotiations. That’s pretty luck that took place already and isn’t today. It’s lucky that other laws and policies came about. Lucky depending on what state you live in, your parents wealth. There are infinite variables of luck. Agreed.
The more $ companies pay their workers the more the prices for goods go up. It's a cycle, inflation. Some people get
raises @ their jobs to combat inflation but it didn't even matter. What's the point in making more $ when everything costs more plus the more $ u make the more they take in taxes. It's ridiculous and sad.