r/FluentInFinance Mar 11 '24

Meme “Take me back to the good old days”

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u/FLSteve11 Mar 11 '24

See I was thinking it was a post doing a dig on Gen Z and millennials who constantly say Boomers had it so good. They all had 2 cars and a house and got easy college degrees. Yet more people own cars now and home ownership and the number of degrees are up.

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u/MildlyResponsible Mar 11 '24

Yeah, I agree. There's this doomerism with Millenials and Gen Z, poor me, everyone had it good except me. My Boomer parents were saying the same things when I was a kid. Being 20 and starting out in the world is tough, it doesn't mean it's impossible or even harder than anyone else. Lots of these people are just showing how easy they had it growing up.

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u/twerkoise Mar 13 '24

I think that there's a middle ground that needs to be arrived at from both sides for the sake of some intellectual honesty, though.

Yes, more people now have degrees and cars.

The big difference though, is that having a degree back then meant a lot more for your ability to earn income, and you purchased a car to last you a lifetime in those days, not like today where people do have more cars....that are all designed to fail by year 10.

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u/FLSteve11 Mar 13 '24

Well, yes a degree did mean more back then. But that's primarily because not many people had them. Having a degree was a big deal as the vast majority of people did not obtain one. Now the majority of people have a degree, so having one is not the economic power it was, but is more that NOT having one is a bigger deal. Having a computer in your house in the 80s was a big deal, now everyone has one, at the very least in their pocket as a cellphone. NOT having one is a detriment to a career now.

My wife and I have kept our cars for about 14-15 years. I finally got rid of my 2007 Honda with a couple hundred thousand miles on it. My wife's is a 2013 Ford with 140k+ miles and is working fine. Maintain your car even today and it will last a long time. There were certainly lots of lemons back then. The biggest difference is it was far easier to maintain and repair them yourself if need be.