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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: 5, Interesting) by Anonymous Coward on Tuesday April 23 2019, @06:38PM (3 children)
Where I used to live, my telephone number was one digit off from the number for a local hospice. Apparently at some point a list had gone out to the local medical community with the incorrect phone number (that is, mine) for the hospice.
Every few months I'd get a late night phone call from a harried nurse, looking for a hospice bed for a terminal patient. I'd calmly explain that they had the wrong number, and give them the right number. They'd always be so apologetic, but I'd tell them it was no problem and they had far more important things to worry about than waking me up.
One time I came home from work, and found on my answering machine a heartbreaking series of increasingly desperate calls from a daughter looking for a bed for her father, and pleading with the hospice to call her back. I had to call her and explain she'd been given the wrong number, and that's why no one had called her. I spent about five minutes just listening to her; she obviously needed to vent to a non-medical person right then. I'd want someone to listen to me.
The last year I lived there I didn't get any calls like that; I guess a corrected list eventually got sent around. I'd kept the number, even though it was a little annoying, because I didn't want anyone in that situation to get some rampaging asshole on the line instead of me.
I know this is a boring post and no one will care.
(Score: 1, Insightful) by Anonymous Coward on Tuesday April 23 2019, @08:43PM
I do, people like you make the world a little better
(Score: 2) by All Your Lawn Are Belong To Us on Wednesday April 24 2019, @05:57PM
Often happens to caregivers of the dying - they just need somebody to listen, whether trained or not. Thanks for being a human being about it, and if we cared more about things like this we'd be able to care less about so many other seemingly important things.
This sig for rent.
(Score: 2) by All Your Lawn Are Belong To Us on Wednesday April 24 2019, @05:58PM
Addendum - wish you could get +10 for this, +6 isn't enough.
This sig for rent.