A Boring Dystopia

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50% of parents financially support adult children, report finds. Here's how much it costs them. (www.nbcnews.com)

submitted 5 days ago by return2ozma@lemmy.world to c/aboringdystopia@lemmy.world

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[–] ArchRecord@lemm.ee 65 points 5 days ago (2 children)

Not only are their wages lower than their parents’ earnings when they were in their 20s and 30s, after adjusting for inflation, but they are also carrying larger student loan balances, many reports show.

True, true. Surely they won't try to both-sides this and make it seem like they're overreacti-

But by other measures, young adults are doing well.

Oh no.

Compared with their parents at this age, Gen Zers are more likely to have a college degree

Because more jobs require them even when they're not necessary. Also, see the crippling debt you just mentioned.

and work full time.

Yet still make less than their parents while working longer hours. How is this "doing well?"

Plus, many millennials have more saved for retirement than they did just a few years ago, after reaping the benefits of positive market conditions.

Fun fact, if you save money for retirement, it tends to go up, shocking.

[–] bobs_monkey@lemm.ee 13 points 5 days ago

How is this "doing well?"

Compared with their parents at this age, Gen Zers are more likely to have a college degree and work full time. Plus, many millennials have more saved for retirement than they did just a few years ago, after reaping the benefits of positive market conditions.

They're using bullshit metrics to make everything seem peachy keen, and help older folks maintain faith in the current system. That's really all fluff pieces like this are good for. "Oh, 50% of parents are shelling out about $1500/month to keep their kids afloat, but everything is fine because they have a college degree!" Anyone with two brain cells to rub together knows that everything is not fine, but rags like NBC are just trying to keep people spending and keep the gravy train going. It isn't propaganda in the way Fox News is, but it's still propaganda.

[–] IMALlama@lemmy.world 6 points 5 days ago

Fun fact, if you save money for retirement, it tends to go up, shocking.

I wonder how long "line goes up" will last. Forget late stage capitalism, this whole thing was built on growth. What happens when global birthrates drop below the replacement rate? It certainly seems we're heading in that direction. This will make a lot of our current systems/structures struggle.

[–] StarvingMartist@sh.itjust.works 12 points 5 days ago (2 children)

I'm so happy my parents are financially stable. I may not get anything when they pass, but that's all right. I'm just glad they're doing okay. And I honestly have no way to support them on top of myself

[–] Drusas@fedia.io 5 points 5 days ago

I wish mine were. He's not even sixty yet and I've already been helping my dad some. Partly due to mental health issues interfering with his ability to work and maintain relationships. I dread what the situation will be in a few years.

[–] partial_accumen@lemmy.world 5 points 5 days ago (1 children)

I hope not too much of your parents are relying on Social Security for retirement. The current administration is making some bad rumblings about cuts.

[–] StarvingMartist@sh.itjust.works 4 points 5 days ago

I mean they're both 65 and still work, they always have, I have no doubt they have a good amount saved up, as they've always pushed me to do

[–] some_guy 5 points 5 days ago

I believe it.