Lifestyle

[Anonymous]

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Maybe they don't want or need your lifestyle (money/income)

[Anonymous]

Their life, their choices. I'm not that controlling - I let them choose their major, their career, they knew what they were getting into. We don't financially support them, but they do still join us for family vacations

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

What time period are you referring? The economy was great from around 2011 - 2019, then again from 2021- present.

DP. The oldest millennials and young gen X were hit hard by the 2008 recession. Millennials couldn't get jobs after college/grad school and young gen x were first in line on the chopping block.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

What time period are you referring? The economy was great from around 2011 - 2019, then again from 2021- present.

DP. The oldest millennials and young gen X were hit hard by the 2008 recession. Millennials couldn't get jobs after college/grad school and young gen x were first in line on the chopping block.

Huh what? Youngest GenX was 38 in 2008 and not on the chopping block…and of course nearly all milllenials and genx have jobs since the unemployment rate right now is 4%.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

What time period are you referring? The economy was great from around 2011 - 2019, then again from 2021- present.

DP. The oldest millennials and young gen X were hit hard by the 2008 recession. Millennials couldn't get jobs after college/grad school and young gen x were first in line on the chopping block.

Huh what? Youngest GenX was 38 in 2008 and not on the chopping block…and of course nearly all milllenials and genx have jobs since the unemployment rate right now is 4%.

Youngest Gen X would have been 28, just a couple years out of grad school. They're employed now, but unemployment takes a toll on one's career. It has long term effects on one's career progression. Have you ever done hiring?

I don't know who that PP had in mind. I'm going to guess that their children or their children's friends fall into these age groups. Either way, I remember at the time and in the years following, there were articles and interviews about the financial effects.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:What if you spent lot of money to give kids fancy education but they can't maintain the same lifestyle as they are accustomed to? Does it bother you or them?

Sounds like you are the one with the problem that you didn't get the ROI you expected. The purpose of education is not to make money, OP.

There are also many factors. The economy has been SHIT for milennials/young gen x (and the current young adults). They didn't benefit from the dot com era or the real estate boom. They graduated/early careers in a major recession and salaries haven't kept pace. I also assume that your lifestyle grew over the decades. We were dirt poor (on WIC) and now we make 1.5M/year. Our kids were alive during the poor years and benefitted from the good years so far. We have a lot of retirement savings to catch up on from the poor years, but we do as much as we can to help our kids - security deposits, furniture, we do pay for some vacation costs as i love to travel with them, especially now that we aren't in the same house/town.

What time period are you referring? The economy was great from around 2011 - 2019, then again from 2021- present.

DP. The oldest millennials and young gen X were hit hard by the 2008 recession. Millennials couldn't get jobs after college/grad school and young gen x were first in line on the chopping block.

Huh what? Youngest GenX was 38 in 2008 and not on the chopping block…and of course nearly all milllenials and genx have jobs since the unemployment rate right now is 4%.

Youngest Gen X would have been 28, just a couple years out of grad school. They're employed now, but unemployment takes a toll on one's career. It has long term effects on one's career progression. Have you ever done hiring?

I don't know who that PP had in mind. I'm going to guess that their children or their children's friends fall into these age groups. Either way, I remember at the time and in the years following, there were articles and interviews about the financial effects.

Yeah…I do hiring and it’s bullshit to blame one two year period for problems of an entire generation (not to mention two generations).

Millennials are officiallly now the wealthiest generation according to the WSJ.

[Anonymous]

Anonymous wrote:It is rare that a kid’s first job out of college will have a salary high enough to offer him the same luxuries he had at your home (a single apartment, nice car, and high end vacations). If they are bothered by this, poor parent planning.

+1

[Anonymous]

Yes the youngest millennials graduated in a bad economy after 9/11, just barely had some work experience and then had Great Recession. There were still discriminatory practices such as having to list your previous salary for any job applications and you were often lowballed when getting offers.

[Anonymous]

Anonymous wrote:No, they are doing fine. They have no student loan debt, good jobs, and thus plenty of disposable income. It's up to them to figure the rest out. I don't see them getting married and buying a home before 30; they seem pretty content living a 20-something lifestyle with no responsibilities outside of work.

Agree.