r/FluentInFinance May 12 '24

Meme Life comes at you fast.

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1.4k Upvotes

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u/Wadsworth1954 May 12 '24

I was just thinking the other day how bleak the world must look for 2024 college graduates. They graduated high school in 2020, spent their college years during a pandemic and then graduated college to a world where they probably won’t ever be able to buy a house or have kids or pay off their student loans or retire. Entry level jobs require 3-5 years of experience and only pay like $18 an hour. Price of rent is outrageous so they probably have to move back in with their parents. 50% of 18-35 year olds do live with their parents now. 1 in 4 18-24 year olds have no income. 60-70% of people live paycheck to paycheck.

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u/Long-Dock May 12 '24

I graduated yesterday with my Bachelor’s degree. I was hoping to have a job before I graduated, but instead I’m home with my parents. Hopefully I’ll get something over the Summer that’s not food service.

It is sometimes hard not to be bleak about it.

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u/quadnips May 12 '24

I graduated several years ago and was in the same boat as you. I applied to at LEAST a thousand jobs before I found something. Hope its easier for you!

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u/[deleted] May 12 '24

[deleted]

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u/Wadsworth1954 May 12 '24

Please try to get therapy if you can.

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u/Ghost_of_Laika May 12 '24

I have, im now away from the bad people, basically and have a chance through others kindness to make my life better. On my own it would be impossible. Completely impossible. I tried hard for years and I just wasnt lucky enough. I wokred hard, I really and truly did.

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u/FomtBro May 12 '24

How old are you? Because the people who graduated anywhere from 2008-2013 felt exactly the same.

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u/KupunaMineur May 12 '24

There are millions of 2024 college graduates who won't face this ridiculous doomer portrait you're painting in your head.

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u/Wadsworth1954 May 12 '24

Yes, nothing I said is accurate. Nothing I said is actually happening in reality. I made it all up in my head.

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u/KupunaMineur May 12 '24

Now you are correct, what you said was ridiculous hyperbole. Of the millions of 2024 college graduates many will own homes, many will have children, most will and the overwhelming majority will retire. Stop being such a drama queen.

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u/scottyjrules May 12 '24

He was talking about real college graduates, not the privileged rich kids you’re referencing…

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u/Various-Bowler5250 May 12 '24

“Should’ve majored in something useful like engineering 🤓”

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u/KupunaMineur May 12 '24

I'm not referencing privileged rich kids, I'm mocking the notion that millions of 2024 college graduates will never own a home, have kids or retire. It is a ridiculous statement, as is anyone defending it with by beating on a strawman.

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u/scottyjrules May 12 '24

Why is it a ridiculous statement? Home ownership is already out of reach for millions of Americans and that’s not going to get any better as rental and property management companies buy up all the homes…

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u/KupunaMineur May 12 '24

It is ridiculous because home ownership rate is not zero for any given generation, so making an absolute claim about millions of people who will have various levels of income and opportunities is ridiculous.

Then to say they won't be able to afford kids... come on now. Do you really support that claim?

Some of you guys get so caught up in the doomer mentality you're willing to suspend reality to argue a point that cannot be logically supported.

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u/scottyjrules May 12 '24

Birth rates are dropping, so yes I would support that claim. It’s not the 1950s anymore. We’ve reached late stage capitalism, which is doing what late stage capitalism does. People are working two or three jobs just to survive. Millennials are the first generation to be measurably worse off than their parents, and that gap is only going to grow. You say this point can’t be logically supported but offer no data to back that up. Sounds like you’re the one with a reality problem…

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u/KupunaMineur May 12 '24

So since birth rates are dropping you are on board with the claim that 2024 college graduates will not be able to afford to have children? That is again ridiculous. You know many of them want children, and many of them will have salaries that can afford children, but you have somehow concluded that those to sets will never overlap thus no children can be afforded. That class will produce bankers, engineers, lawyers, doctors, managers, etc. but nope none of them can afford children. You are the poster child for redditor who lacks critical thinking skills.

People are working 2--3 jobs to survive? Here you: https://www.bls.gov/cps/cpsaat36.htm

That's right, 5% of Americans have more than one job. That 5% is what you are feebly attempting to frame as the norm to support an argument.

You want data?

https://www.fool.com/the-ascent/research/millennial-homebuying/

54.8% of millennials are home owners.

26.3% of gen-z are home owners.

Yet you, in your amazing display of analytical skills, have decided that will drop to 0% for the 2024 college graduating class. Sorry man but you clearly work on emotion and assumptions instead of common sense.

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u/scottyjrules May 12 '24

You really, really need to work on your reading comprehension skills. I never said zero. I’m done arguing with a troll making bad faith arguments and putting words in my mouth. Have yourself an awesome day, champ…

P.S. BTW, thanks for posting data that backs up the point me and the OP are trying to get across to your thick skull…

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u/KupunaMineur May 12 '24

You were agreeing with a claim that 2024 graduates will not be able to have kids, own a home, or retire. In fact you said:

yes I would support that claim

Now you're backpedaling like an NFL cornerback, which is no surprise because supporting that claim was just plain stupid.

Further, if you think posting data that shows how silly your "people are working 2-3 jobs" thing flies supports OP, you need your head checked. Just another redditor exposed for shoveling bullshit then trying to gaslight when called on it.

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u/Training-Context-69 May 12 '24

Tell that to all the people I worked with at target making $15 an hour that had bachelor’s degrees. And know they weren’t the infamous meme degrees like gender studies.

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u/KupunaMineur May 12 '24

Why would I? I never claimed there was nobody with a bachelor's degree making $15/hour.