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Reply to "Millenials are ruining their parents retirement plans?"
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[quote=Anonymous]I’ll jump in. I don’t get it. I’m Generation Y. Neither a boomer bor a millennial. DH and I are 41/43. Without a doubt boomers stole from future generations. Social security, health care and pensions that clearly I am paying for but will never benefit from. But millennials are also leaches. As a group their parents pay for lots of lifestyle choices. They regularly eat out, buy organic everything, spend a fortune on housing (better locations, nicer housing stock and larger places than appropriate for their age). And they don’t comprehend that a professional job means working more than 40 house a week. I own a business with dozens of employees and the number of them (especially without college degrees)that get compensation packages in the $70k-$100k range and have no problem leaving deadline work Undone to get out literally at 5:00 and not 5:15 on an occasional basis is staggering. Those with college degrees in the $100k+ range have the exact same mentality. In my small generation band we paid a lot for college (okay not as much as you but if you look at it as percentages most of the sharp increases in tuition had set in by the time we started. College cost us easily 10-20 what it costs our parents). Same is true with housing. We didn’t get the rapid appreciation of our parents generation and overwhelmingly bought houses and watched them lose value often waiting a decade or longer for them to rebound. We pay our own bills and almost always did. We make choices so that we have some nice thing and sacrifice others. We are paying back higher education debt over 20-30 years and we have good health insurance that we pay a lot for. Oh and we listen to our parents complain about they won’t have enough for their retirements because they are supporting our much younger siblings [/quote]
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