Quote:
Originally Posted by pylon
BS.
I see a ton of fresh grads making excellent money right out of University. A big part of the problem is, the current crop of kids, want a $500k home, a $50k BMW, and a vacation cottage before 30. And expect the income to support that.
My dad was a draftsman making about $850/mth, out of school in the late 60's, which was good entry level money then, and my folks scraped together every penny they could, drove a $150 1959 Beetle for 2 years, lived in a basement suite where my dad did building maintenance for $50/mth, and considered spam good cuts of meat for cripes sake, so they could scratch together a $5000 down payment, for a $20,000 home in Canyon Meadows. That sacrifice no longer exists. People just ask mommy and daddy for their down payment now. Even I am guilty of that one myself on my first home.
People now want everything NOW, and that is the problem. That expectation leads to expecting 6 figures out of school. A ton of the jobs are going over seas and to South America now at half the rate, because everyone feels entitled to a CEO salary, without having to work their way through the ranks.
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Lol. This post is basically exactly why Gen Y's absolutely HATE Boomers. So ignorant.
Like MarchHare said, these old timers don't even know their salary in the old days is equivalent to a starting salary out of high school (ie. no college debt, starting earnings 4 years earlier etc.) of 70k/year.
Then they complain about how hard they had it back then to save up for a $120,000 house. Crazy.