The bar continues to be raised; at one time a college degree was not necessarily a prerequisite to success but in 2018, the data seems to tell a different story. College degrees have a wide range of ROI so while millennials are investing more heavily in education, future earnings may not be worth the commitment - 20% of student debt is already in default and estimated to hit 40% by 2023.
I may just be desperate for some optimism, but I really like this interpretation of the data: Millennials aren't doomed, they're just different.
Also, I never have understood why "marrying at a later age" was interpreted as a sign of millennial failure to launch. Seems more like a sign of maturity—though someone should look at the data of divorce by age at which married. Allison?
don't believe what you've heard. When economists measure wealth they often include human capital, or future earnings. And this may give Millennials an edge.
If the government could quit spending all of our damn money and taxing every damn thing under the moon I think maybe we'd have a better chance. It's a little this called transaction cost that is sucking our income down the shitter and deincentiving people to seek better paying jobs. I mean why bother working harder if it means having 40% of your paycheck stolen to pay for bombs to drop on Yemen school buses full of children?
What if millennials weren’t the most unfortunate generations, as so many insist? What if their burdensome student loans and high rents they bemoan are actually shrewd investments in their careers that will pay dividends over the rest of their lives?
I’m not a Millennial but I absolutely agree with the premise of this article and have adjusted my eduction, investment and debt management habits to match those suggested in the article. It’s just a better, far more practical way to live. Instead of pretending that we’re living in the 1995 economy, we would all do well to adapt to the realities of 2018.
No car, no house, no debt. Maybe millennials aren’t as poor as people thought?
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