Tag: Millennials

The new American adult: Mom and Dad help pay the bills

Daddy, can you spare a dime? Apparently, many do — and much more than a skinny coin. One out of six American adults receive financial support from their parents or other family members, who chip in for everything from rent to basics like groceries.

Millennials are delaying major milestones like homebuying and marriage, and financial independence is included among those, according to research from Country Financial. One in three adults surveyed by the financial services company said they don’t believe they should have financial independence until they’re at least 25.

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That may be in stark contrast to how earlier generations viewed independence, adulthood and money. Today, six in 10 millennials are unmarried, or three times the rate of the silent generation (people now in their 70s and 80s), when the average marriage age was 21 for women and 23 for men.

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MILLENNIAL MAFF

Via Knuckledraggin

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Millennials haven’t saved two years’ salary — they’ve saved one week’s worth

Guest Post by Rex Nutting (raving liberal)

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If you saw that story on MarketWatch by my colleague Alessandra Malito that said you should save double your annual salary by the time you’re 35 for your retirement, you might be wondering along with half of Twitter if that’s even possible.

What with the stagnant wages, paying the rent, saving up for a house down payment, making the car payment, paying off the student loan, and all the other essential and frivolous expenses of day-to-day living, can your family really put aside $115,000 by the time you are 35, or $550,000 by the time you are 67, as recommended by the experts at Fidelity who were quoted by Malito?

Of course it’s possible for some people to save that much and more, but the reality is that almost no one does.

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A Majority Of Millennials Blame Baby Boomers For Destroying Their LIves

by Tyler Durden

Wed, 04/25/2018 – 22:00

Millennials, the largest and most significant generation for the US labor market, came of age in the era of broken central bank policies, leading to the greatest wealth, income and inequality gap in recent history. While baby boomers promised millennials the world through (expensive) college degrees, this generation discovered that massive student loans coupled with a deteriorating work environment had turned them into permanent debt and rent slaves.

And now, according to a new Axios/Survey Monkey poll, millennials are getting angry, and starting to point fingers and cast blame, with a majority accusing baby boomers of not just making things difficult for them, but, of “ruining their lives.”

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For the first time ever, young Americans are less optimistic than their parents

Via Marketwatch

Consumer sentiment may have reached the highest level since 2004, but millennials are now less optimistic than baby boomers.

That’s the first time Americans younger than 35 say they actually have less consumer confidence than those aged 55 and over, according to data from the University of Michigan, Haver Analytics and Deutsche Bank Global Research. This hasn’t happened in the last six decades that the consumer sentiment of these two generations has been compared.

Millennials shoulder more student loan debt than any other generation and face house prices that are far higher than their parents did at their age. Student loan debt has reached $1.4 trillion as the cost of college has soared. And spending no more than 30% of their income on rent or a mortgage, a golden rule for decades, is near-impossible for many young Americans.

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Low-sound Debates in American Society

Guest Post by Jenny Taverns

Terrorism, education, economy and the topic that Americans fancy the most, ‘Ineffective government’, are all going strong as ever. These subjects are like the customary inheritance for an average American today.

Even Millennials or Echo boomers as they call it, who are supposed to have similar ideas, are divided in how they think and feel about these issues. This is doing nothing but ensuring the debates continue.

Generation X is more inspired by social media and everyday trends that go viral. The latest Pew Research fact file said, 88% of all young adults are using some type of social media, which is a testimony to it.

Having said this, there is another section of society which has little to do with what is being talked of in the mainstream media.

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Millennial Deaths Surge As Opioid Crisis Deepens

by Tyler Durden

Fri, 01/05/2018 – 20:45

Despite all the chatter surrounding the ‘globalized synchronized growth’ narrative rocketing equity markets to the moon, and or the constant bombardment of news stories about newly minted Bitcoin and Ripple millionaires living in their parents’ basement, the fracturing of the real and the financial economies has become more evident than ever, as many young millennials who are trapped in the real economy with high debts and wage stagnation are dying at an alarming clip.

The figures are so concerning that millennials deaths have shifted the overall life expectancy rate for the United States lower for the second consecutive year. The last time this occurred, it was the early 1960s when the stock market zoomed to new highs, but then, shortly thereafter, experienced a sizeable downturn,

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According to the latest data from the Centers for Disease Control and prevention (CDC), 129 out of every 100,000 25-34-year-old US adults died in 2016. The last time these levels were seen it was 1995, at the height of the HIV/AIDS epidemic. Notice the v-shape recovery in young adult deaths?

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Doug Casey on Why Millennials Favor Communism

Via Casey Research

Justin’s note: Communism is better than capitalism.

At least, that’s what a growing number of young people in the U.S. think.

I wish I were joking. But a recent study from the Victims of Communism Memorial Foundation, a D.C.-based nonprofit, found that half of the millennials it surveyed would rather live in a socialist or communist country than a capitalist society.

And 22% of those surveyed had favorable views of Karl Marx… while 13% viewed Joseph Stalin and Kim Jong-un as “heroes.”

To figure out what’s behind this disturbing trend, I called Doug Casey…

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A growing number of young Americans are leaving desk jobs to farm

Via MSN

Liz Whitehurst dabbled in several careers before she ended up here, crating fistfuls of fresh-cut arugula in the early-November chill.

The hours were better at her nonprofit jobs. So were the benefits. But two years ago, the 32-year-old Whitehurst — who graduated from a liberal arts college and grew up in the Chicago suburbs — abandoned Washington for this three-acre farm in Upper Marlboro, Md.

She joined a growing movement of highly educated, ex-urban, first-time farmers who are capitalizing on booming consumer demand for local and sustainable foods and who, experts say, could have a broad impact on the food system.

For only the second time in the last century, the number of farmers under 35 years old is increasing, according to the U.S. Department of Agriculture’s latest Census of Agriculture. Sixty-nine percent of the surveyed young farmers had college degrees — significantly higher than the general population.

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At Least My Generation Will Have Our Revenge On The Millennials

Guest Post by Kurt Schlichter

With all the awful things happening now – the discord, the anger, the stupidity – at least those of my generation can rest easy knowing that the Millennials are going to suffer after we’re gone. Sure, I’m going to die a lot sooner than them – unless someone invents some sort of expensive life extension potion that I can buy but they can’t because they will still be paying off their degrees in Oppression Studies and Virtue Signaling Arts until the year 2083. But at least I’ll know that we left them a suitably terrible world, since they are a terrible generation.

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Millennials: Communism sounds pretty chill

Guest Post by Shawn Langlois

Anti-aircraft missiles on parade as they are led past Lenin’s Tomb en route to the saluting base in Red Square to celebrate the anniversary of the Bolshevik Revolution.

In a Halloween tweet that’s since gone viral, Donald Trump Jr. jokingly (although who really knows these days?) took the opportunity to impart an important political lesson to his cute little daughter.

I’m going to take half of Chloe’s candy tonight & give it to some kid who sat at home. It’s never to early to teach her about socialism. pic.twitter.com/3ie9C0jv2G

— Donald Trump Jr. (@DonaldJTrumpJr) October 31, 2017

Perhaps he should share his wisdom with millennials.

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NAVIGATING THROUGH THE STORMS

Several weeks ago I had to drive west on the Pennsylvania Turnpike to pick up my son after his sophomore year at Penn State. I’ve made this trip a dozen times over the last few years, since this is my second son attending Penn State, with a third starting in the Fall. It’s a tedious, boring, protracted, four hour trek through the rural countryside of the Keystone State. During these trips my mind wanders, making connections between the landscape and the pressing issues facing the world. I can’t help but get lost in my thoughts as the miles accumulate like dollars on the national debt clock.

More often than not I end up making the trip in the midst of bad weather. And this time was no different. The Pennsylvania Turnpike is a meandering, decades old, dangerous, mostly two lane highway for most of its 360 mile span. Large swaths of the decaying interstate are under construction, as the narrative about lack of infrastructure spending is proven false by visual proof along the highways and byways of America.

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This is why millennials can’t have nice things (or save any money)

Guest Post by Quentin Fottrell

Avocado toast is the least of young Americans’ worries

Minor expenses can cause major financial problems.

“Millennials are falling victim to common financial vices, such as spending money in coffee shops,” according to a new study by personal-finance site Bankrate.com. The average millennial dines at a restaurant or buys take-out food five times per week and nearly 30% of this age goup say they buy coffee at least three times per week. More than half of millennials (54%) eat out at least three times a week, compared to roughly one-third of Generation X-ers and baby boomers.

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Here’s a list of all of the things millennials have been accused of ruining

Guest Post by Kari Paul

Abbi Jacobson and Ilana Glazer of Comedy Central’s ‘Broad City’ live with roommates and eschew traditional relationship definitions.

Millennials can’t get a break.

When they aren’t spending all of their retirement funds on avocado toast (or eating out in restaurants, to be more exact), they’re getting rid off beloved American staples like movies by binge-watching shows online, putting the death knell in sitcoms, and even single-handedly bringing about the end of churchgoing.

Some of these trends may be overstated, but millennials do have different tastes and priorities than past generations, a new study from travel site Contiki found. They prioritize activities over physical purchases, with 71% of 18- to 35-year-olds citing experiences as the most important thing in their lives. Generation Z, those born between 1995 and 2012, takes it even further, with 97% saying experiences are the most important.

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The Coming Boomercide

Guest Post by The Zman

The warning when you are young is to avoid falling in with a bad crowd. This almost always means staying away from the older crowd as they will talk you into doing things that you are not prepared to handle, like drugs or crime. The peculiarity of my upbringing meant that I spent my youth around an older crowd, that was all bad, but I avoided the worst of it. Now that I am on the down-slope of life, speeding down toward the inevitable, I find myself hanging around on-line with a younger crowd and they are all bad.

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Ten reasons millennials are backing away from God and Christianity

Hat tip Gayle

Guest Post by Dr. Alex McFarland

College-aged millennials today are far more likely than the general population to be religiously unaffiliated. This is true when they are compared to previous generations as well.

In fact, the Pew Research Center documents that millennials are the least outwardly religious American generation, where “one in four are unaffiliated with any religion, far more than the share of older adults when they were ages 18 to 29.”

Just over 60 percent of millennials say that Christianity is “judgmental,” and 64 percent say that “anti-gay” best describes most churches today.

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