Better or worse off than parents?

This topic has been on my mind for some time. I noticed a common theme in a few other threads and wanted to distill it down to a single question:

Are we going to be better or worse off financially then our parents generation? More specifically - the people who spent most of their professional career in the years spanning 1980-2007. Why?

 

I see an increase in the inequality of wealth. Most people with college degrees will be better off, but high school drop outs looking for a good union job are going to be shit out of luck.

Competition is a sin. -John D. Rockefeller
 

I'll be better off for sure. My parents (Catholics lol) popped out 4 babies in their twenties, I won't be doing that. Not that my family isn't well-off financially, but they missed out on having a large enough foundation in their early years IMO.

Nothing short of everything will really do.
 

My Father is an engineer with a master's from Michigan, makes solid money and we grew up in an upper middle class neighborhood. I think statistically speaking, it will be difficult for our generation to ever have the success our parents' generation enjoyed because the world is much different and more competitive. With that said, I'm determined to provide for my family in the way my Father did, because I think that's ultimately what a man's goal in life should be - to give his children a better life than he had growing up.

 

I'd guess that we'll be worse off, but I'm a pessimist.

I also think the world will have a serious energy crisis by the time we are our parent's age which can lead to all sorts of chaos

 

Depends on if you include everyone else.

In the US? Probably about the same.

The entire world? Hell yes. Barring a major issue.

Again if we discover something huge than that all could change.

 

Depends, lifetime earnings i'll probably be similar, if not a little bit below, my parents when adjusted for inflation. That's if I stay on my current path and am not able to make the switch out of the corporate world. That said, i'll be better off then my parents at retirement because their whole generation (boomers) have been incredibly irresponsible in their spending practices and half of them have no idea what it's like to save. I guarantee I have more money saved at 30 than my parents have at 50.

 

in terms of income, I'll be better off. In terms of happiness? Well thats another question...

"Life all comes down to a few moments. This is one of them." - Bud Fox
 

My parents, both immigrants, have only been really making money since 2000. That being said, they make quite a bit so idk if I could outdo them.

Anyone ever feel like they need to make more than their parents (adjusted for inflation of course) to consider themselves successful? Idk, I'd feel like somewhat of a failure if I didn't but that might some 2nd gen immigrant complex

 

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