We're earning less

[hobbyguy]

I would suggest that the "traveling and Pokemon catching" come to and end when you have a family. In some cases it will also end when "the bank of mum and dad" closes.

I have seen it a bit, folks with potential that won't take promotions because the extra time would cut into their freedom to pursue other activities. Then they get married and then they decide to have a family and then priorities change.

Nothing wrong with that. The equivalents were things I did back in the bronze age. Hard to compare a rotary phone though...

The key is making sure that there are opportunities to shift gears if you want to. I see those opportunities fading for many.

It wasn't easy when I bought my first single family house, but when I made that choice it was feasible. And it was feasible with interest rates around 9%. Is it feasible for most young people to do that today? And with interest rates around 4.5%...

[Even Steven]

I would suggest that the "traveling and Pokemon catching" come to and end when you have a family.

Absolutely. But pushing back having a family later into your late thirties is also a trend these days. Haven't you noticed?

[OREZ]

I've noticed. Can you blame them???

[Donald G]

People who say that our parents and grandparents had a better fiscal life than our generation are talking nonsense. What you received in wages is only part if a person's financial lifestyle.

[whatwhat]

Personally, I don't know any young people who choose to have *removed* part-time jobs so they can travel and chase pokemons. I think that's a really unfair generalisation.

I was born in the mid sixties so I don't think I'm biased in favour of the younger generation - I went through some tough times over some pretty lean years. You know, back when people were actually willing to buy into that trickle-down economy BS. But at least the cost of living wasn't as high. However, cost of living now is high compared with what the young people I know make, regardless of the education they have. It makes it extremely difficult for them to get ahead.

My thoughts exactly OREZ.

I am a "millenial". I am 26, and the majority of my friends are between the ages of 23-32. The only ones who work part-time are students. The rest are either working full-time jobs, or are working full-time with a part-time job (my boyfriend included). I work full-time, while also doing volunteer activities in my field because I have to try and cushion my resume someway.

I have a few friends who have ended up with really great careers (welding up north, insurance) and work their butt off so they can afford to go travelling. I also know people who are privileged enough to go to school and travel without needing to work because they are privileged. They are able to see the world because of their agents wallets (lucky eh).

Do I work full-time? Do I work hard? Am I building my career? Hell yes. But I am still able to enjoy my free time (Pokemon, and Facebook because apparently they are the devil and just suck the work ethic out of youth) while also working hard.

I realize it is really easy to generalize and stereotype an entire generation of people but come on people. Let's try and not be that ignorant.

[Even Steven]

I've noticed. Can you blame them???

I don't blame anything for anybody. People do what makes them happy - and that includes working less and earning less and having some fun.

[OREZ]

I would suggest that the "traveling and Pokemon catching" come to and end when you have a family.

Absolutely. But pushing back having a family later into your late thirties is also a trend these days. Haven't you noticed?

I've noticed. Can you blame them???

I don't blame anything for anybody. People do what makes them happy - and that includes working less and earning less and having some fun.

Nnno, no, no. I mean, can you blame them for holding off on starting a family with the cost of living and wages being what they are for them? I congratulate those who do wait on their good judgement for waiting until they are in a position to provide for a family or completely opting out of having a family altogether. Unfortunately, a lot of them can't exactly afford having a lot of fun in the meantime.

I know it makes us old guys feel better to think that it's just all parties and travelling for young people but that isn't reality for most of them.

[Even Steven]

Nnno, no, no. I mean, can you blame them for holding off on starting a family with the cost of living and wages being what they are for them?

See, I don't believe people wait till later years to have kids because of money primarily. The way I see it, younger people today wait till late 30's to have kids and start families because kids and families are responsibilities, and that scares the poop out of them. It cuts into their catching Pokemon time, it cuts into Xbox time, it cuts into finding themselves time, etc. It's not a money problem, it's inability to accept responsibilities problem. Talk to anybody in their 20's - they'll laugh when you mention settling down and having kids and not because they don't make enough - but because they haven't filled their bucket list, they haven't had enough fun dating, or they haven't invented new Facebook. What, have kids now and be forever chained to a job? Heck no, I still want to get a new longboard for my birthday and my band hasn't made it yet. Immaturity vs. Accepting responsibilities, my friend.

Remember when younger people would get married right after high school? Not happening anymore. But you and I know perfectly well that as soon as you get married and have kids you start taking things seriously. You work harder, you advance your career, you stop wasting money on stupid things and spend it where they need to be spend, you start thinking about the future, and become an adult. And adults usually make more money than people who have beards but are still kids at heart.

PS: Us old guys? Sir, I'm in my thirties.

[dontrump]

It wasn't easy when I bought my first single family house, but when I made that choice it was feasible. And it was feasible with interest rates around 9%. Is it feasible for most young people to do that today? And with interest rates around 4.5%...

yes but those houses were 89K and now there 450K so there is no comparison. although back then you made 15Hr and now u make $25 (just examples is all or comparison's)

[sooperphreek]

it makes no sense to continue to churn out thousands of new teachers every year who have no hope of finding an actual job due to over saturation.

but it makes more sense to churn out MBAs who ruin the political world and the country? or economics majors?

[OREZ]

Us old guys? Sir, I'm in my thirties.

That explains it. You've still got some things to learn such as not being so confident in your assumptions and sweeping generalisations about people you don't know.

Anyway, this thread is not about Pokemon and slacking off, it's about whether or not people are losing ground financially, not bitching about young people in general.

[kgcayenne]

This topic has come around and around for the last 11 years that I have participated in this online discussion group. There are more expenses now than there had been in the past, and before we go and brand our next generation as lazy and indulgent, we have to stop and ask the question 'why'? People are being trained from a very young age to spend, spend, spend, DESPITE wage stagnation. What was the solution? Make it so that both adults in the household are wage earners and trick them into being oh so proud of it. Born is the 'latch key kid' generation.

Come to think of it... if people in the upcoming generation stopped spending their money on what the media suggests they do, the economy would suffer... aw heck, it'd outright collapse. What would happen to the sunny vacation resorts and local travel agencies if we went back to the days when retired people and the ultra wealthy were the only ones that went anywhere?

What would happen to the economy if marriages stayed intact?

Even divorce feeds the consumerism beast. Instead of the kids having one of everything, they now have two of everything: one at mom's house, one at dad's. Now instead of one household needing furnishings for two parents and two kids, we have two households furnished for three each! Two electricity bills instead of one, two rents/mortgages instead of one, two cable bills, two internet bills, and on and on and on it goes.

We're slaves, let's face it.

[hobbyguy]

http://www.cpj.ca/files/docs/Fact_Sheet_1.pdf

"The ups and downs of the economy have left a significant mark on the financial security of Canadians.
Even taking years of strong economic growth into account, after-tax incomes edged forward at only 0.2% per year over the
1981–2010 period, lagging significantly behind the average annual rate of inflation for the period (at 3.4%)"

And again, even with that analysis, they are using the CPI as their measure of inflation...

[Rider59]

This topic has come around and around for the last 11 years that I have participated in this online discussion group. There are more expenses now than there had been in the past, and before we go and brand our next generation as lazy and indulgent, we have to stop and ask the question 'why'? People are being trained from a very young age to spend, spend, spend, DESPITE wage stagnation. What was the solution? Make it so that both adults in the household are wage earners and trick them into being oh so proud of it. Born is the 'latch key kid' generation.

Come to think of it... if people in the upcoming generation stopped spending their money on what the media suggests they do, the economy would suffer... aw heck, it'd outright collapse. What would happen to the sunny vacation resorts and local travel agencies if we went back to the days when retired people and the ultra wealthy were the only ones that went anywhere?

What would happen to the economy if marriages stayed intact?

Even divorce feeds the consumerism beast. Instead of the kids having one of everything, they now have two of everything: one at mom's house, one at dad's. Now instead of one household needing furnishings for two parents and two kids, we have two households furnished for three each! Two electricity bills instead of one, two rents/mortgages instead of one, two cable bills, two internet bills, and on and on and on it goes.

We're slaves, let's face it.

This is only true if you let it. We all have the power to say no.

[kgcayenne]

Only some of us do, though.