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from the would-you-like-fries-with-that? dept.
More than half of American millennials, the generation of people born between 1981 and 1996, believe that they will one day be millionaires; one in five think they will get there by the age of 40. These are the findings from a survey conducted in 2018 by TD Ameritrade, a financial-services company.
But a working paper by the Brookings Institution, a think-tank, offers a sobering antidote to this youthful optimism. It finds that millennials are less wealthy than people of a similar age were in any year from 1989 to 2007. The economic crisis of 2008-09 hit millennials particularly hard. Median household wealth in 2016 for 20- to 35-year-olds was about 25% lower than it was for the similar-aged cohort in 2007.
[...] But all is not lost. Millennials are living longer and are the best-educated generation in history. Taken together, this could yet mean that the youngest millennials, who have been less scarred by the crisis, could contribute towards their retirement pots for longer. Then there is mum and dad: even if they don’t become millionaires, millennials will one day inherit from their parents, and that may help redress their relative poverty.
(Score: 2) by Nuke on Tuesday April 23 2019, @06:04PM (2 children)
Angling for "Funny" votes? I recently had my tile roof replaced costing £15k, probably about 80 years old. Replaced central heating boiler and hot water tank two years ago at £2500. Minor maintenance probably runs around £100 per month - like replacing fences recently that were blown down in the high winds. I own my house but these are things a landlord would need to do (I'm not sayiing they would).
(Score: 2) by Whoever on Wednesday April 24 2019, @03:11AM (1 child)
An 80 year old house? Hardly typical.
What type of tiles did you have on the roof? I know that slate roofs can take a lot of maintenance, but those are quite rare these days.
I own two houses in the UK and I don't pay anything like £100 per month for minor maintenance. Of course the houses are not mansions.
(Score: 2) by Nuke on Wednesday April 24 2019, @01:57PM
The roof was of tiles made from some clay/asbestos fired mix, slate-like but orange in colour, common enough for the time. The tiles were crumbling at the edges and infested with moss. As for 80 years old not being typical, there were millions of houses built in the 1920s and 30s, all those London middling boring suburbs 10-20 miles from the centre, for a start. Every house I have ever lived in has been from that era.