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?
Depends on who you ask, I'm all ready ahead of them.
People on this site will probably (hopefully) be better off. I think the population as a whole will be worse off however.
well i come from a very low income family, and i truly believe i am en route to surpassing my parents in the income bracket.
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.
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.
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
Overall, worse.
Me specifically.. I'll be better off. I grew up broke as tits
I always feel like when I turn 50 most people will be flinging their own shit at each other. I dont know... I guess im a pessimist eh?
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...
I'm better off than them when they were my age right now, but they both had an excellent career/life so far. They will be hard to beat.
As for the world, its going to be better in relative terms for sure
Already making more than anyone in my family ever has, adjusted for inflation. I don't think they believe what I am making (slightly above street for entry level ER).
I make better at the same age. My parents were pulling in ~200k/year in the mid 90s. Hard to see that i'll make more than that inflation adjusted.
on an aggregate basis worse, especially if I look at all the posts on here of ppl talking bout finding themselves and having an early life crisis at 22 because they are not smoking pot and playing the guitar by a campfire in Vietnam.
Better, because my parents are immigrants who threw away a lot just to get us to the states.
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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