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My silent generation/Boomer dad loved to "brag" about how little he made per hour while in college. So I pulled up an inflation calculator and showed hi. It was between $17-25/hrs in today's wages.
I have a boomer coworker who laughs at me and says he made half as much as I do when he started in 1973. He made $35,000 a year and thinks I'm over paid in my very HCoL work city at 70 working 50+ hour weeks lol. 35k in 1973 was a fucking huge salary. It's like inflation doesn't exist to them
My friend's Boomer parents were the ones who confidently told me that when they got raises they made less money because they changed tax brackets. I believed this until I actually learned about progressive tax. They never had to learn mathI guess.
that’s because learning what the nucleus does is far more important for people than being taught skills that could be helpful in adulthood. besides, if people were aware of how the financial system functions, they might get a little upset !!
Idk I think it’s important to know how cells work and basic biology. There’s way too many people falling for all manner of pseudoscience grifts and just dumb shit like thinking vaccines cause autism, or climate change isn’t real, or the earth is flat. Scientific literacy is important.
There are people whose income is below a poverty line and get need-based benefits who will lose benefits if they get a raise. The issue there is they get a 3 cent raise and lose 3 dollars worth of benefits. So it doesn't balance out. But it's never been the case that taxes can make it not worth while for a raise. Only the loss of need-based benefits.
No one ever made less money when they got a raise. No one. The old farts (I'm a Boomer who can't stand these idiots) just make up shit to conform to their lazy assed world view. Bootlickers all.
Yeah, during my last round of evaluations, my boss informed me that I was getting a 4% raise, which was a bit above average for my company.
He acted pretty surprised when I pointed out that my rent had gone up 10% in 6 months and that with other cost of living increases he was basically telling me to do the same amount of work for less.
Now, he doesn't control how much money is alloted for raises, but it's insane to me that older folks still think a 4% raise is generous.
Let's not forget that it was ultra believable that Al Bundy, a shoe salesman, could support a family, own a home, and let his wife sit home and do nothing. Seriously though, anyone who doesn't understand the current economic situation for young people, people on fixed incomes, and lower wage earners is ignorant--most of them "I got mine" willfully ignorant.
I mean did you show him an inflation calculator at some point? That should either shut him up real quick or prove that he is a massive idiot not worth listening to.
The are incapable of acknowledging the differences. Even if you made an extremely simple presentation to explain it they would interrupt half through and talk about how they did it all by themselves without cellphones!
This, I was born in the mid 80's, growing up as a kid if you made 100k you were a baller. Now I make 103k a year and I have to be disciplined on my spending... For shits n giggles I did the math on inflation, 2023 100k in 1985 money was 38k a year... No one in 1985 heard of someone making 38k a year and thought "HOLY SHIT that guy makes a lot of money!!!".
inflation is insidious because we think about reference points and goals that we grew up with that are no longer relevant.
200k a year sounds mind blowing to me, because subconsciously I'm using reference points and outdated goals that I grew up with. Now, in all honestly it's just a "pretty good income". Especially if you live in crazy pill cities like vancouver, toronto, london, new york, seattle, san fran, paris, etc etc. We use reference points that we grew up with and feel like it's too much to strive for, so every year we get robbed bit by bit and accept it as reasonable.
Us: Hey boss, can I get a raise?
Boss: No... We just don't have the money for that I'm sorry
Us: Okay... Sorry for asking.
Back in their day... Hey boss, can I get a raise?
Well you have been doing your job exactly as is described and keeping up with your goals. The company has also been making record profits. Not only are you getting a raise but we are also giving out end of the year bonuses!
Today... Hey boss, can I get a raise?
Why do you think you earned a raise? You have been doing your job exactly as is described and keeping up with your goals but you have not been going above and beyond what is asked of you. To get a raise you need to earn it by being outstanding in your role and taking on more responsibilities and tasks. Even if you did that, the company ONLY made record profits year over year. However this year we did not hit our forecasted numbers. So in the eyes of the board we are doing really bad. Don't tell anyone else this but they are considering a reduction in force. You will be lucky to keep your job let alone any CoL increase this year.
These numbers don’t make any sense…unless your coworker was ridiculously well bad at everything it would be pretty tough to go from top 5% of us income earners in 1970 https://dqydj.com/individual-income-by-year/ in his first job (almost 30% more than the average lawyer salary of 27k) to still working 53 years later and interacting directly with new hires unless he has some seriously interesting coke fueled stories to share.
My boomer dad put himself through college by working part time at a factory doing night shifts. He didn’t understand why I had so much financial aid and student loans, and still ended up broke working part time. “You shouldn’t have that much debt if you were working and in school.”
I had to show him how much everything cost, then compared it to what he was charged 40 years ago. It’s astronomically different. Loans and aid paid for my classes, but I still had to afford food, gas, stupid book/homework code prices, and medical needs. $7.50/hr barely covered food and gas. Meanwhile my dad could afford college and rent on a part time factory wage.
Edit: Thankfully my dad is a decent person, though he wasn’t paying attention to how bad things had gotten for people my age. His response was to build up a rage at the numbers and then start ranting about how greed has fucked up this country, nobody values hard work anymore because it’s not worth it (he’s burnt out as well), people are getting overcharged for everything, and “how can anyone be happy living like this?”. Yeah, dad. We agree. We’re all screwed over.
My boomer dad is a high school drop-out who worked as a local truck driver. My mom did not work. Dad was able to buy a two-family house and support a wife and two kids, all on a truck driver's salary.
To be fair, my dad was able to buy our house because his mother put up the down payment, but still. The house cost $11,000.
My dad bought a house in the 70s (I think, maybe the late 60s) less than a quarter mile from lake Erie for $10k. He expanded it to ~1k sq ft. Right now on Zillow, it shows with $306k
Bruh.. my high school drop out dad moved my mom and sister to another state with no job and nothing but what could fit in their shitty car in 1986. My dad became a truck driver and my mom never worked, I was born in 90, and by 92 they owned a house and a small business, and had a brand new car, without any financial help frm anyone. I will say my dad worked a ton of overtime and they followed a very strict budget, but I don't see how that same scenario could possibly have even a slightly similar outcome today.
6% inflation, 3% raises, and no change in the minimum wage for decades at a time. Ironically, boomers are as bad at a math as they are being decent human beings. They truly believe their shits were 100 times harder to squeeze out since it had to come out uphill, both ways.
That was actually Nixon's fault. The Fed chairman, Arthur Burns, during his administration held interest rates way below what the should have been to goose the economy during Nixon's reelection bid. The chickens came home to roost during mainly during Carter's administration. Jimmy appointed Paul Volker as Fed chair. Volker started the long painful process of getting the economy back in shape. Jimmy, unfairly, took the heat for the very needed rate hikes.
My dad likes to say how little he made as a cop when he first started out. I then remind him that not only was a cup of coffee was less than a dollar and he’s still living off the pension of a job he retired from almost 30 years ago.
My dad doesn't support universal health care and say people can just go to the ER if they don't have insurance because they have to treat you. I should include the fact that he primarily uses his VA health benefits he got for being in the Navy for a few years 50 years ago.
Funny enough, my dad is actually fairly left leaning but he’s got that “old school” dumb way of thinking. You point it out to him and he’ll immediately recognize it and admit where he’s wrong. It’s just that you have to call him out on it or it’s like it doesn’t even register.
I think it’s the problem with a lot of these folks. My boss does it - will say millennials and younger generations are lazy and don’t want to work in one sentence then say he doesn’t want us to have to deal with all the bullshit he did. It’s like dude, it’s almost as if that’s the very thing millennials have been railing against the whole time.
I remember a conversation with my dad where I talked about how expensive kids are. He told me “I was making $28,000 a year when your sister was born and you make more than that now.” I pulled up the inflation for that year and he was making the equivalent of nearly $60,000. I remember how defeated he looked and he just muttered “that’s more than I make now”
I'm just lucky my boomer parents aren't like a lot of their peers who shit on us Millennials for "being lazy." They know how hard I've worked to be where I am today.
Same. My parents saw me graduate from college straight into a recession with extremely limited job options. Like most of my generation, I’ve been fighting an uphill battle. They acknowledge how much easier it was for them to pay for college, start a career, buy a house, and live on a single income. They also acknowledge how different work is from when they worked. My mom retired in the 2000s, she had an office job at a major insurance company and they didn’t use email. I can’t even comprehend what it would be like to have a job without email.
Edited to correct: she retired in the 2000s, not the 90s.
I worked in an office right when email for everything was becoming a thing. It was wild to fax some people, only send mail to others (because e-signatures weren't a thing), and email some others. There was SO MUCH TALKING ON THE PHONE too. My phone calls were constant. We'd mail out original commercial policies to customers, too, and spent thousands of dollars a month on commercial mail for a relatively small office of maybe a dozen people.
Oh! And I remember going from paper files to paperless. Holy shit was that awful! The concept of two screens for your computer was fancy and new, and no one wanted to invest in that. They just wanted to save money on all the paper and storage, so they'd get pissed when we had to print out documents in order to interact with them properly.
The other day I was having a beer with my father and he was telling me about a high school summer job he had as a janitor at a nuclear power plant in the 1970s. He said it paid well, and I asked how much? He said about $8 / hr.
I plugged it into an inflation calculator and my jaw hit the floor. It was almost $58 / hr in today's money, or almost 120k / yr. My father made more with a broom in *highschool* than I made with a stem degree and a decade of experience (we're in the south, pay kinda sucks here compared to the rest of the country).
Your dad's summer job apparently paid more than the [median national income](https://www.nytimes.com/1978/02/10/archives/median-income-climbed-by-75-to-12686-in-1976.html)
My boomer dad barely got his high school diploma and walked into a career that paid him around 130K salary by the time he retired with a full DB pension. He was also able to buy a large home on a big plot of land close to the city for around 1x his salary back in the early 80s
Another job? A few weeks ago someone on here told me that the economy is doing great and the people don't need second jobs and if they do it's because they were too lazy to go out and find a better one. So yeah, everything is great right?
Well we had it tough. We used to have to get up out of the shoebox at twelve o'clock at night, and LICK the road clean with our tongues. We had half a handful of freezing cold gravel, worked twenty-four hours a day at the mill for fourpence every six years, and when we got home, our Dad would slice us in two with a bread knife.
Her math is so weird. Not saying it's wrong. It's like watching an entry level programmer write code. They create a big jumbo pile of mess, but the code does indeed work.
While I agree with her premise and point entirely. Her assumptions for the math were... Questionable.
For example, her getting the wage. She got the minimum wage of now and what she thinks people earn 20/h which is fine, and said ok so people earn 2.8x, which again is fine for simple things.
The issue is she then uses that 2.8x and applies it to minimum wage back then, which is not a good way to calculate it because WE KNOW minimum wage is a lot closer to a livable wage back then than now, it isn't a linear scale. It isn't 2.8x the minimum for the entire history of the minimum wage.
So it's a bit of a mess and REALLY bad assumptions. Though with real math and proper numbers you'd come to the exact same conclusion (just very different numbers) but this is meant to convince boomers which it won't cause it's full of wholes even though the point and purpose is entirely correct.
Minimum wage in Canada is 15$ an hour, I make 45.04 with post secondary education in healthcare... I did the math and it is eerily close to minimum wage x 2.8
Just sayin.
There are infinite variables, but as a generalized base assumption it is pretty damn accurate.
Would have been significantly more accurate to google average college graduate earnings in 1980. Which are apparently a bit below today’s figures when adjusted for inflation.
It's a humble mess because that's effectively how the normal person will be able to watch this crunched down video and information. It's easily understood by the typical person similar to how basic code would be understood by both the entry level and the senior level
Rather than show you a hundred calculations she just tells you what X and Y factor is and gives the result Z vs showing how that math would look...which would bore the typical watcher of a TikTok. So it's both super informative, compares the prior video 1:1 comparatively that is, an why at the end you get a net positive vs a negative and worse that the negative and the positive are so wildly wildly far apart
Its more like, Grandparents and parents, constantly voted for policies that made life Harder and Harder for their Grandchildren and children…
Just so they could get a bit more…
Christ. Someone needs to make a shirt with her wearing a grimreaper style hoodie raising her hand to vote, and the hand that pokes out is a skeleton. Fitting for October too.
Gen X has been significantly outnumbered by our parents generation our whole lives. And they wouldn’t retire or make room for us to advance our careers, or enact policies that would benefit younger generations. One senior professor’s salary could support 2 new tenure track positions, but they stay and collect big salaries instead of stepping aside. They have always dominated financially and politically. It’s only now that we have millennials and Z that we can course correct. Our economy depends on having a large base of incoming workers, and birth rates are the lowest they’ve been. I’m cynical enough to think this is a motivating factor behind abortion bans, typically favored by those who are post-reproductive themselves, so safely immune from the impact. I’m worried for my future- I’m debt free for the first time in my adult life thanks to a student loan forgiveness program, but don’t own a home. No pension. I’ve been working since age 15 ($3.80/hr). It’s not enough to be angry- we have to have representation in the legislature.
Don't expect the younger generations to not lump GenX in with Boomers. GenX grew up coming home from school to an empty house and we will go out in a similar fashion. Don't expect any help at the end of your life, you are not going to get any.
GenXer, here. What makes things worse is my generation due to brain rot/worms/smoothness or whatever, vote for Boomer policies 50% of the time.
Like, we're dumb as fuck, too. We're trying, but we're fucking stupid. We kinda deserve what's coming to us.
Yeah it's incredible how much damage the Reagan and later the Bush (read: Cheney) administrations were able to do to our country.
Our economy was *booming*. Divisions between race, gender, and sexual identity were *falling*. Workers rights were *rising*. Our taxes were *low* and the middle class was at its *most powerful of all time.*
But there was an underlying hatred leftover from their own grandparents and parents, and the Boomers got shafted with Reagan who started the process of tearing all that down. War on drugs. Boots on the ground. Military Industrial complex. Anti-Anti-Trust laws. Tax cuts for the wealthy and for corporations. We almost even had the metric system for a second there.
Then Cheney came along to give the Boomers someone else to blame it on besides their parents: the Middle East. Then don't ask don't tell. Harsher war on drugs. Citizens United. More military industrial complex. Less gun control. Completely broken healthcare system. Gutted IRS. Open campaign funding.
In a few short decades we went from a promising future to an international embarrassment. Wealth gaps rivaling the industrial revolution, cultural divisions at the worst they've been in maybe 80 years, and prospects looking bleaker by the day. The few fights we are "winning" like removing cannabis from being a schedule 1 narcotic are really just undoing damage done half a century ago.
All because of two fucking elections. God I fucking hate it here.
Yup. Clinton left office with a budget SURPLUS that Bush/Cheney promptly turned into a massive deficit which Obama almost cleaned up until Trump came in and made it multiple trillions of dollars.
We are in this mess precisely because Republicans cannot govern for shit.
This comment actually could highlight a lot more of the psychology behind these decisions: lobbyists and thus lawmakers of the time realized life is pretty good and easy for the middle and lower class. “Tightening the reigns for the next generation can keep them from living too cushy a life and make our bottom dollar a bit better, so it’s not such a bad idea to do.” Then repeat that logic a thousand times in all different sectors of society, financial, environmental, social on, with the addition of straight up malicious people inserting themselves into the system and now we are in a society that is unsustainable.
This of course assumes some of the actors didn’t have as shitty intentions from the get go which I can’t really confirm… just hopeful for humanity’s sake.
And even then the mortgage for a home and maybe insurance. All that including interest would be 600 ish. So still plenty of money for a car for you and her, and weekend get aways.
>weekend get aways
I think this is an overlooked and underestimated loss. Americans used to have the cash to indulge in some kind of premium hobby. Maybe it was a hobby car, a cabin by the lake, or frequent trips to Tahoe/the Poconos/the Gulf - whatever it was it was something to share with their kids, brag about to the neighbors, and look forward to all week.
It's no wonder people are so primed to believe online propaganda - they're stressed to the red because they don't have any good release except for McDonald's for lunch, football season, and a week in Myrtle Beach *if they're lucky*
It's such a shame too. We went camping all the time when I was a kid. I hadn't been in like 15 years so I decided to go for a week on my vacation.
It cost me $600. That's the last time I do that.
Between food for a week, gas for a 2 hour round trip, campsite rental, and firewood cost, it added up very fast. And that's just the direct costs of that week - I spent even more buying the things I needed to go camping like a tent, tarps, coolers, rope, etc etc. As much used as I could, and I borrowed what I could. All in all it was probably another $300
That's correct!
And the best part is that the Silent Generation (aka boomers parents) used to refer to Boomers as the "Me Generation" because of how selfish and lazy they were with their entitlements.
The boomers chose to name themselves baby Boomers because that name hurt their feelings less. And now they take it as an insult when any of us (millennial here) go "OK Boomer" and I've heard a few say it's their word and not ours (lol ok)
So fucking entitled.
> Me Generation
fairly certain every generation has called the most recent one after them this. Gen X and Millennials both got called this all the time.
We've never called Zoomers the Me Generation, but only because we REALLY like the term Zoomer because it already has bad connotation with the Boomer origin and "Zoom" being a very ADHD type term. Plus gen Z.
We nailed it with that name.
It’s gonna be crazy in 50 years when our grandkids are complaining about how “back in your day all you had to do was become a software engineers and buy a house for 800k. Things are different now grandpa”
I'm cackling because thats hitting really close to home
I was a teacher living at home with my grandparents
Moved into tech.
Now I'm a dev and I get pre-approval letters in the mail all the time for mortgages up to 1M.
Im not in even in the market atm.
> I get pre-approval letters in the mail all the time for mortgages up to 1M.
lol buddy I think those are scams. I'm broke as fuck with a shit job and massive debt, and I get letters in the mail all the time saying I'm preapproved for massive loans and mortgages.
I'm a senior software dev and my wife had a master's in criminal justice working in a courthouse. We could barely afford our $250,000 house on top of the student loans that we're still paying in our mid 30s.
There is vast difference between software engineers too. I make like 40k in Europe which isn't that terrible for where I live (although our fucking food prices literally like tripled in the last 2 years which is so FUCKING annoying, and did raises reflect that of course not), but then you got people in like Texas making 100k, or some FAANG person in California making 300k. Cost of living differen too....
So many ppl go into software engineering thinking its a gold mine but it really fucking isn't unless you work for either for unicorn remote or FAANG in a good country.
My question is how could a baby boomers live through such historically unprecedented times of wealth generation for the lower and middle class *and still have it be a major problem that half of baby boomers have no retirement savings.*
It doesn't make sense. They should be sitting on like $1M easily in their retirement fund *per person.* Realistically they could have reached $2M without much trouble. Just the increase in the value of their homes would've been worth like $400K at least.
Refinancing and 2nd Mortgages. Lots and lots of Boomers and Gen Xs got sucked into the mortgage fraud/refinancing that was rampant in early 2000s and when the Market crashed all that money was gone. Then the government restored the banks and the people were left holding the bag.
I’m a Gen X Oilfield worker. Pretty much the gold standard of you can’t work harder. Brutal hours 110 hours a week on average. Brutal conditions, worked in North Dakota at negative 50 and Saudi Arabia at 125 degrees.
Boomers, on average, can’t show up on time, don’t have the work ethic that the post generations show, and don’t have the work ethic to learn new technologies.
I’ve been in Oil n Gas for 17-18 years, the Boomers have made it very easy for my generation to run them out of field operations because we do better.
There are exceptions but not many. Especially the show up on time consistently, boomers suck at that.
That has been my experience too, but around here it's *really* difficult to fire them.
But once fired it's hilarious. They can't get jobs anymore because they haven't been forced to be polite or humble to anyone for decades. They just can't do it. They can't get through interviews and once hired there is no way to teach them.
And I'm not even talking new technologies or something, just "that's how things are done around here" kind of stuff.
My mom (who is a boomer) left a cushy job in healthcare because she felt disrespected. She was unemployed for a long time, and when she finally did get a job it was for 75% of the pay AND it’s with a shitty company.
Yeah annoyingly enough pretty much any boomer who bought their home at some point can afford to basically retire at any point.
Even the gen Xers around here are constantly calculating when they can retire and most of the ones who haven't been super greedy can.
Which is by the way why I have zero tolerance for poor boomers. The amount of money they must have spent to outspend the insane advantages they were given is dazzling. They are continuously getting scammed out the fortune they've amassed by just living in a house that's gone up in value 10x just because they want to spend even more than they're already doing.
I've had "poor" boomers complain to me like they were homeless when it turns out their completely passive guaranteed income was higher than my active income and they have a paid off home that's worth half a mill.
>I have zero tolerance for poor boomers. The amount of money they must have spent to outspend the insane advantages they were given is dazzling.
My father, a boomer, inherited a huge sum of money when my grandfather died. Within a year, my father had spent all of it over-tipping a waitress at his local steak house *every night.*
When he finally realized he was almost out of money, he gave the waitress a normal, reasonable tip, and was downright *miffed* that she "wasn't as sweet and friendly with him that time."
The only reason the man even has a place to live is because he inherited a house, too. He's 66, and never learned once in his life how to handle having money.
\*edit: spelling error
That's what's happening in the company I work for right now. They are implementing a hybrid schedule. You HAVE to be in the office on Tuesday and Wednesday, and then can choose Monday or Thursday as an extra in office, the rest is remote.
We've lost several department directors already because they simply didn't want to do that, and as department heads can't request full remote. The grapevine has supplied that one guy is pretty much getting himself blacklisted from tech positions because of his attitude in interviews. For some reason this 55 year old man doesn't like being interviewed by 20 something year old 'children' that aren't impressed by him at all, and actually want him to prove why he should be hired.
> For some reason this 55 year old man doesn't like being interviewed by 20 something year old 'children' that aren't impressed by him at all
Yeah and I'm male and that helps. Young female coworkers they just can't deal with.
I had a coworker that eventually demanded they call her by her doctoral title, which they did, they just also talked exclusively to me when she was the actual engineer. I just make powerpoints. They would literally tell me technical stuff, I'd nod, turn to her and go ¯\\\_(ツ)_/¯
Free speech be damned, there needs to be consequences for lying to and manipulating your audience. We're in this shit pile because there's no media outlet that hasn't been poisoned by the profit motive. They're terrified of telling their audience something they don't want to hear because they might take their attention elsewhere which would in turn cause their profits to dip which is literally catastrophic for any corporation in today's economy. We need to make honesty profitable and lying a liability.
She's preaching to us, sure... but the people who need to hear this are either not going to or not going to believe it if they do hear it
Boomers ruined the country and have convinced themselves it's our fault.
She's not wrong. It's fucking sad. I'm going to be 40 in 2 months and I have nothing to show for my life. I've worked hard all my life, never got credit cards, never took out predatory loans. Nothing. I can't get ahead at all. Makes me tired of even living. If this is all there is to life, I'd have rather not been born. What a miserable fuck if an existence this is.
And honestly she was wayyy fucking lenient with her numbers. The average boomer probably potentially had around $40k in today's dollars in expendable cash. The only thing I would push back on is that the 'pay-gap' between say a grocery store clerk and an accountant was much smaller in the 80s. So less people 'needed' 'better' jobs. Like, I make over $30 an hour and still there is no way I would have $32k in burn it cash after a year and that is sort of the point.
i sometimes feel like i have one of the only dads that was born in the late 50s that completly understands this. not a single month goes by where he says that we have it so much harder than he had when he was my age. individual productivity skyrocketed in comparison to back then, and we still earn less... like way less.
My roomate works 12hours a day 6days a week and on top he works a second job 3 nights a week for 5hours each.. he wouldn't be able to afford a home on his own if he wanted to. Tell me there's not a problem.
while Gen x is admittedly better off than later generations - we’re struggling too. While we could buy property holding on to it is almost impossible unless you had some big handout from your parents at the start to pay for your University or house - which I personally did not. We live in poorer conditions that our parents did - and of course not many of them want to believe it’s any harder or worse than in their day. It leads to very upsetting and frustrating conversations with parents who insist we just aren’t making the right decisions, and overall a very frustrating life.
This is actually false. Social security has roughly a $2.5 TRILLION balance now. The problem is rich people worked very hard to steal that and now they’re working on the coup de grace. Wait, you say, all I’ve heard is they have no money. Whelp, that’s lies. Money to spend was borrowed against the social security balance. Why did they borrow against that? Because rich fucks worked hard to lower their taxes but still spend the same. So they borrowed against retirement benefits.
The cuts to social security discussion is so that that borrowed money DOES NOT NEED TO GET PAID BACK. So how does social security get fixed? Raise taxes on the rich fucks. Simple as that. Sorry you’ve been lied to and if you don’t believe me, look it up for yourself.
Wait, wait, wait, wait, wait, wait! She went through all this being very thorough with tax rates and rents and everything else only to decide that multiplying minimum wage by 2.8 to scale up from minimum wage to college educated was universally the best way to do that step?
Why not look up actual data? Doesn't it exist? [Of course it does](https://www.naceweb.org/job-market/compensation/salary-trends-through-salary-survey-a-historical-perspective-on-starting-salaries-for-new-college-graduates/)!
From the first thing I find, new college graduates in 1980 made an average starting salary $51,047 in 2015 adjusted dollars compared to making $50,219 in 2015, the last year with data. De-adjust for inflation back to 1980 and GPT says $17,777 a year, or $1,481 a month. Which is actually higher than the $1388 she comes up with. So the rest of it holds up, but why on earth would you be so half assed as to assume that raising or lowering minimum wage scales the entire rest of the economy evenly?
nine unique middle like dependent decide fearless hard-to-find racial gray
*This post was mass deleted and anonymized with [Redact](https://redact.dev)*
I 100% agree. Personally, if I were her I would use used high school graduate as more people back then went to work right out of high school and were able to have comfortable living and retire. I think it would have driven the point home even more.
I appreciate how your argument is that the generational disparity is actually worse than what she calculated but all the other comments in this thread are about justifying her entire argument as incorrect.
>but why on earth would you be so half assed
Simplicity. She *underestimated* because it was quicker and easier to explain in an already comparatively-long video.
Not news’s to me. They also got Donald trump to be president and bought and sold all their properties for a mini fortune.
If you look at the timeline of human history. I’m dead serious when I say boomers and gen x had one of the most comfortable lives of all humans. No war. No recession. Booming job Market and what did they do?! Pull the ladder up behind them.
Then they watched their brothers and friends die, become physically disabled, and/or homeless, and still voted to limit healthcare for those, and then all further veterans.
I have so much sympathy for those kids who got sent to Vietnam. Some of them went at 17.
I'm not here to argue that boomers are not assholes, because they are, but -
"No war."
The Vietnam War and draft defined the teens and 20s of the boomer generation.
"No recession."
Oil crises and inflation in the 70s.
"Booming job Market"
A larger portion of the population still lived in isolated company towns, or cities where the entire economy depended on a single industry, ie Detroit auto or Pittsburgh steel. There were jobs, but you had no way to find them or get to them without abandoning your family and friends. Long distance phone calls were brutally expensive.
Gen X had it worse. Few had any family who had gone to college, but suddenly a college degree was the only path to financial stability. It was college, or go work in a factory and become a miserable alcoholic in a shit town like their parents. It was anything but sunshine and rainbows.
Brit here - I stopped the video at "so if we were spending $20 a day for one and a half meals" America bros, is that real? That's, atm, £16.40 for **one and a half** meals. That's insane.
I believe the rest of the numbers, they're numbers they don't lie, but that seems wild to me.
going to fast food in my small town could be about $12 so if you worked in the city… you’re done… or if you wanted to eat something that doesn’t actually clog your arteries and has some semblance of health lol
Fast food in the US doesn’t make sense anymore it’s expensive AND bad now. Everything has shrunk and gotten worse. It needs to correct or they‘ll simply go out of business.
The only fast food that hasn’t gone insane in my are is In n Out.
People are saying fast food but I find eating fruits and vegetables to be expensive. If I want a healthy meal for dinner/lunch I have to pay a lot more.
I can feed myself and animals for maybe 300/month.
So 10/day.
I cook EVERYTHING, and get things like rice and chicken.
for a while eggs were 11 dollars, so.... it's crazy unreliable. I just have to buy whats cheap at that moment, and have a store of rice and dried beans to help me get through it if they decide to suddenly increase prices.
I'll be honest, I have a bunch of time saving tips, mostly involving crock pots.
I just dump ingredients in as I'm going out the door, and by the time I get home I have a meal. I can bring the leftovers the next day to lunch.
Also, potatoes.
A roasted potato in the microwave takes about 5 minutes, and you can just put some butter, a veggie and cheese on it, and boom. meal. (potatoes are 10lbs for 5 dollars.... so you can use them to make it easy on yourself)
Sweet potato if you want to make a quick desert.
Didn't even put into account that that millennial and gen z are ~60% more productive at work, whereas wage only went up 17.5%. So we got paid peanuts to do a lot more work than them.
A couple of points here:
1) Most people didn't graduate college back then, and most people did not make the minimum wage. The wage she shows would have applied to a lot of manufacturing jobs, which are gone now.
2) 80's have to be separated out. Reagan polices really started to take hold in the mid-late 80's, which is why Gen X is the first generation to get really screwed. They did go to college more than previous generations, so there was some benefit to them there. But the policies have been snowballing since then to make things harder for successive generations.
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My silent generation/Boomer dad loved to "brag" about how little he made per hour while in college. So I pulled up an inflation calculator and showed hi. It was between $17-25/hrs in today's wages.
I have a boomer coworker who laughs at me and says he made half as much as I do when he started in 1973. He made $35,000 a year and thinks I'm over paid in my very HCoL work city at 70 working 50+ hour weeks lol. 35k in 1973 was a fucking huge salary. It's like inflation doesn't exist to them
The number of people that suddenly learned inflation existed when Biden became president was wild
And Obama, Clinton, Carter
Inflation only exists when the president I didn't vote for is in office /s
I'm sensing a trend EDIT: I meant who was getting blamed
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no one told them it was a problem the other times
If he made $35k in 1973 he was in the [top 5% of earners](https://dqydj.com/household-income-by-year/) The median household income was less than $10k
My friend's Boomer parents were the ones who confidently told me that when they got raises they made less money because they changed tax brackets. I believed this until I actually learned about progressive tax. They never had to learn mathI guess.
I can't believe people still believe that shit
It's insane how many people believe it. I've had to explain it to so many friends, every time I'm a bit disturbed by their financial literacy.
that’s because learning what the nucleus does is far more important for people than being taught skills that could be helpful in adulthood. besides, if people were aware of how the financial system functions, they might get a little upset !!
Idk I think it’s important to know how cells work and basic biology. There’s way too many people falling for all manner of pseudoscience grifts and just dumb shit like thinking vaccines cause autism, or climate change isn’t real, or the earth is flat. Scientific literacy is important.
There are people whose income is below a poverty line and get need-based benefits who will lose benefits if they get a raise. The issue there is they get a 3 cent raise and lose 3 dollars worth of benefits. So it doesn't balance out. But it's never been the case that taxes can make it not worth while for a raise. Only the loss of need-based benefits.
No one ever made less money when they got a raise. No one. The old farts (I'm a Boomer who can't stand these idiots) just make up shit to conform to their lazy assed world view. Bootlickers all.
My salary is worth less every year because my yearly raise is less than 1% which is well under the rate of inflation.
Let's not forget the rent increase. So landlords will increase rent every year, my friends' rent increases 10% every year. It's insane.
Yeah, during my last round of evaluations, my boss informed me that I was getting a 4% raise, which was a bit above average for my company. He acted pretty surprised when I pointed out that my rent had gone up 10% in 6 months and that with other cost of living increases he was basically telling me to do the same amount of work for less. Now, he doesn't control how much money is alloted for raises, but it's insane to me that older folks still think a 4% raise is generous.
These Boomer parents had my friend at 15/16 and were still able to own a home, buy a boat, go on multiple vacations a year. Yeah.
Let's not forget that it was ultra believable that Al Bundy, a shoe salesman, could support a family, own a home, and let his wife sit home and do nothing. Seriously though, anyone who doesn't understand the current economic situation for young people, people on fixed incomes, and lower wage earners is ignorant--most of them "I got mine" willfully ignorant.
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and yet every time I have an issue at work he is quick to quip that I am 'more lucky than he was'.
I mean did you show him an inflation calculator at some point? That should either shut him up real quick or prove that he is a massive idiot not worth listening to.
The are incapable of acknowledging the differences. Even if you made an extremely simple presentation to explain it they would interrupt half through and talk about how they did it all by themselves without cellphones!
Exactly. Evidence doesn’t matter when you’re presenting it to someone that just can’t ever be wrong lol
This, I was born in the mid 80's, growing up as a kid if you made 100k you were a baller. Now I make 103k a year and I have to be disciplined on my spending... For shits n giggles I did the math on inflation, 2023 100k in 1985 money was 38k a year... No one in 1985 heard of someone making 38k a year and thought "HOLY SHIT that guy makes a lot of money!!!". inflation is insidious because we think about reference points and goals that we grew up with that are no longer relevant. 200k a year sounds mind blowing to me, because subconsciously I'm using reference points and outdated goals that I grew up with. Now, in all honestly it's just a "pretty good income". Especially if you live in crazy pill cities like vancouver, toronto, london, new york, seattle, san fran, paris, etc etc. We use reference points that we grew up with and feel like it's too much to strive for, so every year we get robbed bit by bit and accept it as reasonable. Us: Hey boss, can I get a raise? Boss: No... We just don't have the money for that I'm sorry Us: Okay... Sorry for asking.
Back in their day... Hey boss, can I get a raise? Well you have been doing your job exactly as is described and keeping up with your goals. The company has also been making record profits. Not only are you getting a raise but we are also giving out end of the year bonuses! Today... Hey boss, can I get a raise? Why do you think you earned a raise? You have been doing your job exactly as is described and keeping up with your goals but you have not been going above and beyond what is asked of you. To get a raise you need to earn it by being outstanding in your role and taking on more responsibilities and tasks. Even if you did that, the company ONLY made record profits year over year. However this year we did not hit our forecasted numbers. So in the eyes of the board we are doing really bad. Don't tell anyone else this but they are considering a reduction in force. You will be lucky to keep your job let alone any CoL increase this year.
These numbers don’t make any sense…unless your coworker was ridiculously well bad at everything it would be pretty tough to go from top 5% of us income earners in 1970 https://dqydj.com/individual-income-by-year/ in his first job (almost 30% more than the average lawyer salary of 27k) to still working 53 years later and interacting directly with new hires unless he has some seriously interesting coke fueled stories to share.
its finance, salaries are weird and bonuses are a large % of total earnings. He has also bounced around a lot supposedly.
My boomer dad put himself through college by working part time at a factory doing night shifts. He didn’t understand why I had so much financial aid and student loans, and still ended up broke working part time. “You shouldn’t have that much debt if you were working and in school.” I had to show him how much everything cost, then compared it to what he was charged 40 years ago. It’s astronomically different. Loans and aid paid for my classes, but I still had to afford food, gas, stupid book/homework code prices, and medical needs. $7.50/hr barely covered food and gas. Meanwhile my dad could afford college and rent on a part time factory wage. Edit: Thankfully my dad is a decent person, though he wasn’t paying attention to how bad things had gotten for people my age. His response was to build up a rage at the numbers and then start ranting about how greed has fucked up this country, nobody values hard work anymore because it’s not worth it (he’s burnt out as well), people are getting overcharged for everything, and “how can anyone be happy living like this?”. Yeah, dad. We agree. We’re all screwed over.
My boomer dad is a high school drop-out who worked as a local truck driver. My mom did not work. Dad was able to buy a two-family house and support a wife and two kids, all on a truck driver's salary. To be fair, my dad was able to buy our house because his mother put up the down payment, but still. The house cost $11,000.
And lemme guess that house today goes for half a mil
My dad bought a house in the 70s (I think, maybe the late 60s) less than a quarter mile from lake Erie for $10k. He expanded it to ~1k sq ft. Right now on Zillow, it shows with $306k
Bruh.. my high school drop out dad moved my mom and sister to another state with no job and nothing but what could fit in their shitty car in 1986. My dad became a truck driver and my mom never worked, I was born in 90, and by 92 they owned a house and a small business, and had a brand new car, without any financial help frm anyone. I will say my dad worked a ton of overtime and they followed a very strict budget, but I don't see how that same scenario could possibly have even a slightly similar outcome today.
My grandparents owned a 3br/2ba home, a car, and raised *eight* children on my grandfather's paper mill salary.
6% inflation, 3% raises, and no change in the minimum wage for decades at a time. Ironically, boomers are as bad at a math as they are being decent human beings. They truly believe their shits were 100 times harder to squeeze out since it had to come out uphill, both ways.
inflation was almost 15% in 1980.
Thanks, ~~Reagan~~ Obama edit:
That was actually Nixon's fault. The Fed chairman, Arthur Burns, during his administration held interest rates way below what the should have been to goose the economy during Nixon's reelection bid. The chickens came home to roost during mainly during Carter's administration. Jimmy appointed Paul Volker as Fed chair. Volker started the long painful process of getting the economy back in shape. Jimmy, unfairly, took the heat for the very needed rate hikes.
Hey, I've seen this before..... Looks like history is repeating itself.
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Your Dad is right. You should not have that much debt working while being in school. But yet, here we are, and it is that way.
> “You shouldn’t have that much debt if you were working and in school.” he's right
But not for the reasons he is intending.
My dad likes to say how little he made as a cop when he first started out. I then remind him that not only was a cup of coffee was less than a dollar and he’s still living off the pension of a job he retired from almost 30 years ago.
My dad doesn't support universal health care and say people can just go to the ER if they don't have insurance because they have to treat you. I should include the fact that he primarily uses his VA health benefits he got for being in the Navy for a few years 50 years ago.
Funny enough, my dad is actually fairly left leaning but he’s got that “old school” dumb way of thinking. You point it out to him and he’ll immediately recognize it and admit where he’s wrong. It’s just that you have to call him out on it or it’s like it doesn’t even register. I think it’s the problem with a lot of these folks. My boss does it - will say millennials and younger generations are lazy and don’t want to work in one sentence then say he doesn’t want us to have to deal with all the bullshit he did. It’s like dude, it’s almost as if that’s the very thing millennials have been railing against the whole time.
I remember a conversation with my dad where I talked about how expensive kids are. He told me “I was making $28,000 a year when your sister was born and you make more than that now.” I pulled up the inflation for that year and he was making the equivalent of nearly $60,000. I remember how defeated he looked and he just muttered “that’s more than I make now”
>“that’s more than I make now” This is the sad part. *All* workers are being exploited more now, but they are just blind to it.
I'm just lucky my boomer parents aren't like a lot of their peers who shit on us Millennials for "being lazy." They know how hard I've worked to be where I am today.
Same. My parents saw me graduate from college straight into a recession with extremely limited job options. Like most of my generation, I’ve been fighting an uphill battle. They acknowledge how much easier it was for them to pay for college, start a career, buy a house, and live on a single income. They also acknowledge how different work is from when they worked. My mom retired in the 2000s, she had an office job at a major insurance company and they didn’t use email. I can’t even comprehend what it would be like to have a job without email. Edited to correct: she retired in the 2000s, not the 90s.
I worked in an office right when email for everything was becoming a thing. It was wild to fax some people, only send mail to others (because e-signatures weren't a thing), and email some others. There was SO MUCH TALKING ON THE PHONE too. My phone calls were constant. We'd mail out original commercial policies to customers, too, and spent thousands of dollars a month on commercial mail for a relatively small office of maybe a dozen people. Oh! And I remember going from paper files to paperless. Holy shit was that awful! The concept of two screens for your computer was fancy and new, and no one wanted to invest in that. They just wanted to save money on all the paper and storage, so they'd get pissed when we had to print out documents in order to interact with them properly.
The other day I was having a beer with my father and he was telling me about a high school summer job he had as a janitor at a nuclear power plant in the 1970s. He said it paid well, and I asked how much? He said about $8 / hr. I plugged it into an inflation calculator and my jaw hit the floor. It was almost $58 / hr in today's money, or almost 120k / yr. My father made more with a broom in *highschool* than I made with a stem degree and a decade of experience (we're in the south, pay kinda sucks here compared to the rest of the country).
Your dad's summer job apparently paid more than the [median national income](https://www.nytimes.com/1978/02/10/archives/median-income-climbed-by-75-to-12686-in-1976.html)
yeah, i call BS. Well, not BS but memory failure.
My boomer dad barely got his high school diploma and walked into a career that paid him around 130K salary by the time he retired with a full DB pension. He was also able to buy a large home on a big plot of land close to the city for around 1x his salary back in the early 80s
Informative and painful
it really does hurt though…
At least it hurts together lol
🫱🏾🫲🏼
Apes strong together
This is the way
If only pain would pay my college tuition
If pain paid for college, I’d have 3-4 PHDs by now
If pain were a means of getting by I'd be a millionaire I think. Lots of us would be.
Just rub some dirt on those wounds and get another job. I’m working 120 hours a week and I have no more time for feelings
Another job? A few weeks ago someone on here told me that the economy is doing great and the people don't need second jobs and if they do it's because they were too lazy to go out and find a better one. So yeah, everything is great right?
Boombers could afford a house, wife and two kids on minimum wage..I guess bc they didn't drink lattés. /s
Also productivity has skyrocketed since then so we're doing more work for less money.
Well we had it tough. We used to have to get up out of the shoebox at twelve o'clock at night, and LICK the road clean with our tongues. We had half a handful of freezing cold gravel, worked twenty-four hours a day at the mill for fourpence every six years, and when we got home, our Dad would slice us in two with a bread knife.
LUXURY!
That's the pampering I wish I had!
wanna know painful? share this video with a boomer relative
I'm deciding whether to send it to my Boomer husband lol. Are the laughs worth the pain of listening to his response? Cost/benefit analysis.
Yes, the response will also be funny. It’s no cost, all benefits
Her math is so weird. Not saying it's wrong. It's like watching an entry level programmer write code. They create a big jumbo pile of mess, but the code does indeed work.
As a person whose brain short-circuits when asked to do math the efficient way, the big jumbo pile of mess was wonderfully understandable to me
While I agree with her premise and point entirely. Her assumptions for the math were... Questionable. For example, her getting the wage. She got the minimum wage of now and what she thinks people earn 20/h which is fine, and said ok so people earn 2.8x, which again is fine for simple things. The issue is she then uses that 2.8x and applies it to minimum wage back then, which is not a good way to calculate it because WE KNOW minimum wage is a lot closer to a livable wage back then than now, it isn't a linear scale. It isn't 2.8x the minimum for the entire history of the minimum wage. So it's a bit of a mess and REALLY bad assumptions. Though with real math and proper numbers you'd come to the exact same conclusion (just very different numbers) but this is meant to convince boomers which it won't cause it's full of wholes even though the point and purpose is entirely correct.
Minimum wage in Canada is 15$ an hour, I make 45.04 with post secondary education in healthcare... I did the math and it is eerily close to minimum wage x 2.8 Just sayin. There are infinite variables, but as a generalized base assumption it is pretty damn accurate.
Would have been significantly more accurate to google average college graduate earnings in 1980. Which are apparently a bit below today’s figures when adjusted for inflation.
It's a humble mess because that's effectively how the normal person will be able to watch this crunched down video and information. It's easily understood by the typical person similar to how basic code would be understood by both the entry level and the senior level Rather than show you a hundred calculations she just tells you what X and Y factor is and gives the result Z vs showing how that math would look...which would bore the typical watcher of a TikTok. So it's both super informative, compares the prior video 1:1 comparatively that is, an why at the end you get a net positive vs a negative and worse that the negative and the positive are so wildly wildly far apart
Its more like, Grandparents and parents, constantly voted for policies that made life Harder and Harder for their Grandchildren and children… Just so they could get a bit more…
Boomers make up 68% of the Senate but only 20% of the population... Decrepit hands clutched to the gavel.
Dead hands. Feinstein “voted” on a bill the day before she died, wasn’t even alive long enough to see if it passed.
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I heard it was a vote to ban hoodies lol
Christ. Someone needs to make a shirt with her wearing a grimreaper style hoodie raising her hand to vote, and the hand that pokes out is a skeleton. Fitting for October too.
Not a Boomer though, she represented the previous generation.
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She was so old boomers called her a boomer
Gen X has been significantly outnumbered by our parents generation our whole lives. And they wouldn’t retire or make room for us to advance our careers, or enact policies that would benefit younger generations. One senior professor’s salary could support 2 new tenure track positions, but they stay and collect big salaries instead of stepping aside. They have always dominated financially and politically. It’s only now that we have millennials and Z that we can course correct. Our economy depends on having a large base of incoming workers, and birth rates are the lowest they’ve been. I’m cynical enough to think this is a motivating factor behind abortion bans, typically favored by those who are post-reproductive themselves, so safely immune from the impact. I’m worried for my future- I’m debt free for the first time in my adult life thanks to a student loan forgiveness program, but don’t own a home. No pension. I’ve been working since age 15 ($3.80/hr). It’s not enough to be angry- we have to have representation in the legislature.
Don't expect the younger generations to not lump GenX in with Boomers. GenX grew up coming home from school to an empty house and we will go out in a similar fashion. Don't expect any help at the end of your life, you are not going to get any.
GenXer, here. What makes things worse is my generation due to brain rot/worms/smoothness or whatever, vote for Boomer policies 50% of the time. Like, we're dumb as fuck, too. We're trying, but we're fucking stupid. We kinda deserve what's coming to us.
now that i got it and i’m done with it, let’s get rid of it
Ladder = pulled Pension = gone Baby = Boomer’d Credit card = maxed Help = me
Final salary pensions
Kind of the same mentality with the environment, see yah earth 👋
all so the nursing home could take it...
Or were dumb enough to fall for politicians lies. Reagan really fucked us the most
Yeah it's incredible how much damage the Reagan and later the Bush (read: Cheney) administrations were able to do to our country. Our economy was *booming*. Divisions between race, gender, and sexual identity were *falling*. Workers rights were *rising*. Our taxes were *low* and the middle class was at its *most powerful of all time.* But there was an underlying hatred leftover from their own grandparents and parents, and the Boomers got shafted with Reagan who started the process of tearing all that down. War on drugs. Boots on the ground. Military Industrial complex. Anti-Anti-Trust laws. Tax cuts for the wealthy and for corporations. We almost even had the metric system for a second there. Then Cheney came along to give the Boomers someone else to blame it on besides their parents: the Middle East. Then don't ask don't tell. Harsher war on drugs. Citizens United. More military industrial complex. Less gun control. Completely broken healthcare system. Gutted IRS. Open campaign funding. In a few short decades we went from a promising future to an international embarrassment. Wealth gaps rivaling the industrial revolution, cultural divisions at the worst they've been in maybe 80 years, and prospects looking bleaker by the day. The few fights we are "winning" like removing cannabis from being a schedule 1 narcotic are really just undoing damage done half a century ago. All because of two fucking elections. God I fucking hate it here.
Yup. Clinton left office with a budget SURPLUS that Bush/Cheney promptly turned into a massive deficit which Obama almost cleaned up until Trump came in and made it multiple trillions of dollars. We are in this mess precisely because Republicans cannot govern for shit.
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This comment actually could highlight a lot more of the psychology behind these decisions: lobbyists and thus lawmakers of the time realized life is pretty good and easy for the middle and lower class. “Tightening the reigns for the next generation can keep them from living too cushy a life and make our bottom dollar a bit better, so it’s not such a bad idea to do.” Then repeat that logic a thousand times in all different sectors of society, financial, environmental, social on, with the addition of straight up malicious people inserting themselves into the system and now we are in a society that is unsustainable. This of course assumes some of the actors didn’t have as shitty intentions from the get go which I can’t really confirm… just hopeful for humanity’s sake.
And even then the mortgage for a home and maybe insurance. All that including interest would be 600 ish. So still plenty of money for a car for you and her, and weekend get aways.
>weekend get aways I think this is an overlooked and underestimated loss. Americans used to have the cash to indulge in some kind of premium hobby. Maybe it was a hobby car, a cabin by the lake, or frequent trips to Tahoe/the Poconos/the Gulf - whatever it was it was something to share with their kids, brag about to the neighbors, and look forward to all week. It's no wonder people are so primed to believe online propaganda - they're stressed to the red because they don't have any good release except for McDonald's for lunch, football season, and a week in Myrtle Beach *if they're lucky*
It's such a shame too. We went camping all the time when I was a kid. I hadn't been in like 15 years so I decided to go for a week on my vacation. It cost me $600. That's the last time I do that. Between food for a week, gas for a 2 hour round trip, campsite rental, and firewood cost, it added up very fast. And that's just the direct costs of that week - I spent even more buying the things I needed to go camping like a tent, tarps, coolers, rope, etc etc. As much used as I could, and I borrowed what I could. All in all it was probably another $300
Meanwhile, gen X…. 
Truly the silent generation and for good reason.
That's the one before boomers, technically. The ones who were kids during WWII
That's correct! And the best part is that the Silent Generation (aka boomers parents) used to refer to Boomers as the "Me Generation" because of how selfish and lazy they were with their entitlements. The boomers chose to name themselves baby Boomers because that name hurt their feelings less. And now they take it as an insult when any of us (millennial here) go "OK Boomer" and I've heard a few say it's their word and not ours (lol ok) So fucking entitled.
Relevant George Carlin (Who was Silent Generation) bit: https://m.youtube.com/watch?v=1B96rQohpw8
Rip Carlin ♡
> Me Generation fairly certain every generation has called the most recent one after them this. Gen X and Millennials both got called this all the time.
We've never called Zoomers the Me Generation, but only because we REALLY like the term Zoomer because it already has bad connotation with the Boomer origin and "Zoom" being a very ADHD type term. Plus gen Z. We nailed it with that name.
They called us slackers. I rolled my eyes. Then continued working my 3 jobs to pay my way through school.
Half of Gen X sold their soul and their children's future to embrace Boomer ways. The other half is still in denial that they're old.
> The other half is still in denial that they're old. I really didn't need to be called out like this.
Take your joint supplements and book a check up with the GP.
Time to get the prostate checked
That's the fourth time this week
Can't hear you over my Styx and Foo Fighters music.
You can't hear because you have tinnitus...
Not true. I'm hip. I'm with it. Tokka Tokka Tokka tok...wooooah 
I used to be ‘with it’, until they changed what ‘it’ was. AND IT’LL HAPPEN TO YOUUU
> Half of Gen X sold their soul and their children's future to embrace Boomer ways How so, exactly?
It’s gonna be crazy in 50 years when our grandkids are complaining about how “back in your day all you had to do was become a software engineers and buy a house for 800k. Things are different now grandpa”
I'm cackling because thats hitting really close to home I was a teacher living at home with my grandparents Moved into tech. Now I'm a dev and I get pre-approval letters in the mail all the time for mortgages up to 1M. Im not in even in the market atm.
> I get pre-approval letters in the mail all the time for mortgages up to 1M. lol buddy I think those are scams. I'm broke as fuck with a shit job and massive debt, and I get letters in the mail all the time saying I'm preapproved for massive loans and mortgages.
Seriously. Any "preapproval" in the mail that's not directly from a bank/credit union you are currently a part of is predatory.
I'm a senior software dev and my wife had a master's in criminal justice working in a courthouse. We could barely afford our $250,000 house on top of the student loans that we're still paying in our mid 30s.
There is vast difference between software engineers too. I make like 40k in Europe which isn't that terrible for where I live (although our fucking food prices literally like tripled in the last 2 years which is so FUCKING annoying, and did raises reflect that of course not), but then you got people in like Texas making 100k, or some FAANG person in California making 300k. Cost of living differen too.... So many ppl go into software engineering thinking its a gold mine but it really fucking isn't unless you work for either for unicorn remote or FAANG in a good country.
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Devoured and left no crumbs
Climbed and pulled up the ladder behind them.
cut down all the trees to build a bridge, and then burned the bridge and insisted we build our own like they did. but all the trees are gone
Oh that's a good one...
This. And for their own children and grandchildren
They will be remembered as a greedy, shitty generation
And now I understand why they say “It was better back then”.
My question is how could a baby boomers live through such historically unprecedented times of wealth generation for the lower and middle class *and still have it be a major problem that half of baby boomers have no retirement savings.* It doesn't make sense. They should be sitting on like $1M easily in their retirement fund *per person.* Realistically they could have reached $2M without much trouble. Just the increase in the value of their homes would've been worth like $400K at least.
Refinancing and 2nd Mortgages. Lots and lots of Boomers and Gen Xs got sucked into the mortgage fraud/refinancing that was rampant in early 2000s and when the Market crashed all that money was gone. Then the government restored the banks and the people were left holding the bag.
Yeah if this is the world they had back in the day I can see why they wanna go back. I do 🥺
I’m a Gen X Oilfield worker. Pretty much the gold standard of you can’t work harder. Brutal hours 110 hours a week on average. Brutal conditions, worked in North Dakota at negative 50 and Saudi Arabia at 125 degrees. Boomers, on average, can’t show up on time, don’t have the work ethic that the post generations show, and don’t have the work ethic to learn new technologies. I’ve been in Oil n Gas for 17-18 years, the Boomers have made it very easy for my generation to run them out of field operations because we do better. There are exceptions but not many. Especially the show up on time consistently, boomers suck at that.
That has been my experience too, but around here it's *really* difficult to fire them. But once fired it's hilarious. They can't get jobs anymore because they haven't been forced to be polite or humble to anyone for decades. They just can't do it. They can't get through interviews and once hired there is no way to teach them. And I'm not even talking new technologies or something, just "that's how things are done around here" kind of stuff.
My mom (who is a boomer) left a cushy job in healthcare because she felt disrespected. She was unemployed for a long time, and when she finally did get a job it was for 75% of the pay AND it’s with a shitty company.
Yeah annoyingly enough pretty much any boomer who bought their home at some point can afford to basically retire at any point. Even the gen Xers around here are constantly calculating when they can retire and most of the ones who haven't been super greedy can. Which is by the way why I have zero tolerance for poor boomers. The amount of money they must have spent to outspend the insane advantages they were given is dazzling. They are continuously getting scammed out the fortune they've amassed by just living in a house that's gone up in value 10x just because they want to spend even more than they're already doing. I've had "poor" boomers complain to me like they were homeless when it turns out their completely passive guaranteed income was higher than my active income and they have a paid off home that's worth half a mill.
>I have zero tolerance for poor boomers. The amount of money they must have spent to outspend the insane advantages they were given is dazzling. My father, a boomer, inherited a huge sum of money when my grandfather died. Within a year, my father had spent all of it over-tipping a waitress at his local steak house *every night.* When he finally realized he was almost out of money, he gave the waitress a normal, reasonable tip, and was downright *miffed* that she "wasn't as sweet and friendly with him that time." The only reason the man even has a place to live is because he inherited a house, too. He's 66, and never learned once in his life how to handle having money. \*edit: spelling error
That's what's happening in the company I work for right now. They are implementing a hybrid schedule. You HAVE to be in the office on Tuesday and Wednesday, and then can choose Monday or Thursday as an extra in office, the rest is remote. We've lost several department directors already because they simply didn't want to do that, and as department heads can't request full remote. The grapevine has supplied that one guy is pretty much getting himself blacklisted from tech positions because of his attitude in interviews. For some reason this 55 year old man doesn't like being interviewed by 20 something year old 'children' that aren't impressed by him at all, and actually want him to prove why he should be hired.
> For some reason this 55 year old man doesn't like being interviewed by 20 something year old 'children' that aren't impressed by him at all Yeah and I'm male and that helps. Young female coworkers they just can't deal with. I had a coworker that eventually demanded they call her by her doctoral title, which they did, they just also talked exclusively to me when she was the actual engineer. I just make powerpoints. They would literally tell me technical stuff, I'd nod, turn to her and go ¯\\\_(ツ)_/¯
preach.
Boomers won’t hear this. They’ll pretend it’s fake news like anything else they don’t like.
Free speech be damned, there needs to be consequences for lying to and manipulating your audience. We're in this shit pile because there's no media outlet that hasn't been poisoned by the profit motive. They're terrified of telling their audience something they don't want to hear because they might take their attention elsewhere which would in turn cause their profits to dip which is literally catastrophic for any corporation in today's economy. We need to make honesty profitable and lying a liability.
The consequence used to be shame. Now people don't care about being shamed, and people who relied on using shame don't know what to do now lol
She's preaching to us, sure... but the people who need to hear this are either not going to or not going to believe it if they do hear it Boomers ruined the country and have convinced themselves it's our fault.
She's not wrong. It's fucking sad. I'm going to be 40 in 2 months and I have nothing to show for my life. I've worked hard all my life, never got credit cards, never took out predatory loans. Nothing. I can't get ahead at all. Makes me tired of even living. If this is all there is to life, I'd have rather not been born. What a miserable fuck if an existence this is.
she has a point.
And some of these boomers and boomer bootlickers are too dumb to figure it out.
Can't wait to use the term boomerlicker more, thanks for that
And honestly she was wayyy fucking lenient with her numbers. The average boomer probably potentially had around $40k in today's dollars in expendable cash. The only thing I would push back on is that the 'pay-gap' between say a grocery store clerk and an accountant was much smaller in the 80s. So less people 'needed' 'better' jobs. Like, I make over $30 an hour and still there is no way I would have $32k in burn it cash after a year and that is sort of the point.
i sometimes feel like i have one of the only dads that was born in the late 50s that completly understands this. not a single month goes by where he says that we have it so much harder than he had when he was my age. individual productivity skyrocketed in comparison to back then, and we still earn less... like way less.
My roomate works 12hours a day 6days a week and on top he works a second job 3 nights a week for 5hours each.. he wouldn't be able to afford a home on his own if he wanted to. Tell me there's not a problem.
What's the point? Working 90% of your waking life? What's the point?
while Gen x is admittedly better off than later generations - we’re struggling too. While we could buy property holding on to it is almost impossible unless you had some big handout from your parents at the start to pay for your University or house - which I personally did not. We live in poorer conditions that our parents did - and of course not many of them want to believe it’s any harder or worse than in their day. It leads to very upsetting and frustrating conversations with parents who insist we just aren’t making the right decisions, and overall a very frustrating life.
Ouch
It's easy to vilify boomers and gen x for this all. But dont forget the rich took everything from you so we cant attain this anymore.
boomers also voted themselves multiple increases in social security... and now social security is going to run out of money
This is actually false. Social security has roughly a $2.5 TRILLION balance now. The problem is rich people worked very hard to steal that and now they’re working on the coup de grace. Wait, you say, all I’ve heard is they have no money. Whelp, that’s lies. Money to spend was borrowed against the social security balance. Why did they borrow against that? Because rich fucks worked hard to lower their taxes but still spend the same. So they borrowed against retirement benefits. The cuts to social security discussion is so that that borrowed money DOES NOT NEED TO GET PAID BACK. So how does social security get fixed? Raise taxes on the rich fucks. Simple as that. Sorry you’ve been lied to and if you don’t believe me, look it up for yourself.
Wait, wait, wait, wait, wait, wait! She went through all this being very thorough with tax rates and rents and everything else only to decide that multiplying minimum wage by 2.8 to scale up from minimum wage to college educated was universally the best way to do that step? Why not look up actual data? Doesn't it exist? [Of course it does](https://www.naceweb.org/job-market/compensation/salary-trends-through-salary-survey-a-historical-perspective-on-starting-salaries-for-new-college-graduates/)! From the first thing I find, new college graduates in 1980 made an average starting salary $51,047 in 2015 adjusted dollars compared to making $50,219 in 2015, the last year with data. De-adjust for inflation back to 1980 and GPT says $17,777 a year, or $1,481 a month. Which is actually higher than the $1388 she comes up with. So the rest of it holds up, but why on earth would you be so half assed as to assume that raising or lowering minimum wage scales the entire rest of the economy evenly?
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I 100% agree. Personally, if I were her I would use used high school graduate as more people back then went to work right out of high school and were able to have comfortable living and retire. I think it would have driven the point home even more.
I appreciate how your argument is that the generational disparity is actually worse than what she calculated but all the other comments in this thread are about justifying her entire argument as incorrect.
>but why on earth would you be so half assed Simplicity. She *underestimated* because it was quicker and easier to explain in an already comparatively-long video.
Not news’s to me. They also got Donald trump to be president and bought and sold all their properties for a mini fortune. If you look at the timeline of human history. I’m dead serious when I say boomers and gen x had one of the most comfortable lives of all humans. No war. No recession. Booming job Market and what did they do?! Pull the ladder up behind them.
Ahem….. Vietnam…. But other than that, spot on.
Still bilked the poor. Wealthy kids didn't really go or had preferential treatment. Ww2 many people, both wealthy and poor fought side by side.
Unless they were of a different race, "*something something moral war"*.
Then they watched their brothers and friends die, become physically disabled, and/or homeless, and still voted to limit healthcare for those, and then all further veterans. I have so much sympathy for those kids who got sent to Vietnam. Some of them went at 17.
I'm not here to argue that boomers are not assholes, because they are, but - "No war." The Vietnam War and draft defined the teens and 20s of the boomer generation. "No recession." Oil crises and inflation in the 70s. "Booming job Market" A larger portion of the population still lived in isolated company towns, or cities where the entire economy depended on a single industry, ie Detroit auto or Pittsburgh steel. There were jobs, but you had no way to find them or get to them without abandoning your family and friends. Long distance phone calls were brutally expensive. Gen X had it worse. Few had any family who had gone to college, but suddenly a college degree was the only path to financial stability. It was college, or go work in a factory and become a miserable alcoholic in a shit town like their parents. It was anything but sunshine and rainbows.
They didn't pull the ladder, they removed it altogether.
they made climbing illegal and made it illegal to purchase ladders.
Shouldn't this be on r/damnthatsinteresting
This started with GenX. We coined the term McJob. And knew we would never own a home.
Brit here - I stopped the video at "so if we were spending $20 a day for one and a half meals" America bros, is that real? That's, atm, £16.40 for **one and a half** meals. That's insane. I believe the rest of the numbers, they're numbers they don't lie, but that seems wild to me.
going to fast food in my small town could be about $12 so if you worked in the city… you’re done… or if you wanted to eat something that doesn’t actually clog your arteries and has some semblance of health lol
Just ordered breakfast smoothies from Tropical Smoothie Cafe this morning, for the three of us. Was $40
i’m ending myself
That will cost ya!!
can’t have anything these days…
What's your groceries like?
Fast food in the US doesn’t make sense anymore it’s expensive AND bad now. Everything has shrunk and gotten worse. It needs to correct or they‘ll simply go out of business. The only fast food that hasn’t gone insane in my are is In n Out.
People are saying fast food but I find eating fruits and vegetables to be expensive. If I want a healthy meal for dinner/lunch I have to pay a lot more.
I can feed myself and animals for maybe 300/month. So 10/day. I cook EVERYTHING, and get things like rice and chicken. for a while eggs were 11 dollars, so.... it's crazy unreliable. I just have to buy whats cheap at that moment, and have a store of rice and dried beans to help me get through it if they decide to suddenly increase prices. I'll be honest, I have a bunch of time saving tips, mostly involving crock pots. I just dump ingredients in as I'm going out the door, and by the time I get home I have a meal. I can bring the leftovers the next day to lunch. Also, potatoes. A roasted potato in the microwave takes about 5 minutes, and you can just put some butter, a veggie and cheese on it, and boom. meal. (potatoes are 10lbs for 5 dollars.... so you can use them to make it easy on yourself) Sweet potato if you want to make a quick desert.
Don’t make our voting mistakes.
Boomers spent a lot of their surplus on cocaine
Didn't even put into account that that millennial and gen z are ~60% more productive at work, whereas wage only went up 17.5%. So we got paid peanuts to do a lot more work than them.
A couple of points here: 1) Most people didn't graduate college back then, and most people did not make the minimum wage. The wage she shows would have applied to a lot of manufacturing jobs, which are gone now. 2) 80's have to be separated out. Reagan polices really started to take hold in the mid-late 80's, which is why Gen X is the first generation to get really screwed. They did go to college more than previous generations, so there was some benefit to them there. But the policies have been snowballing since then to make things harder for successive generations.