Reply to Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Here's the dirty secret. The upper end of millennials and even younger, those in their late 20s, are doing extremely well, with salaries and HHI that would have been staggering by boomer standards at the same ages. The professional jobs especially law pays significantly more. And there's big tech, which didn't exist in the past. And the range of senior management roles in corporate America is much bigger now. And these people make money. There are people graduating from college today who will never make less than 100k for their entire lives while plenty of people in their 40s and 50s languish at upper five figures.

There are winners and losers in every generation. [/quote]

Here’s a data point.  My boomer brother graduated from college in 1979 and got a job at a Wall Street bank.  Was rapidly promoted up and by 1984 was at a level just below VP.  He was making 42K a year and living in a very mass market apartment in the crappy part of westChester.   I remember the number because my mother was so proud of him and impressed by that massive salary.   That’s equivalent to 123K in today’s dollars.  You think there are Wall Street finance types with 5 years experience making that now and living in mass market builds in Yonkers? No.  I remember the whole family was so impressed because he bought a new car.  It was a Honda civic.  A new car In his mid-20s seemed outrageously rich.  
(PS he left Wall Street because he hated the people and took a public interest job.  He paid for his kids to go to college and gave them an extremely comfortable upbringing and both his millennial kids are now way richer than he is.) [/quote]

+1 not unusual for those times[/quote]

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