millennials/money/adulthood

[notes1]

baby boomers may indeed have piled up too much government debt, i have stated this many times. but, left the next generation worse off...hardly.

right now the world is at it's wealthiest, safest and healthiest in history. significant gains in equality for woman and minorities, technology advances that were once thought of as science fiction, medical advances that have extended lives and cured aliments that used to kill people... the world is not perfect, but much better off than before the boomers arrived.

the prior generation was the 'greatest' generation, a tough act to follow.

[olds442jetaway]

I will attest to that. Just had lunch with my almost 95 year young dad. A proud WW11 vet. Is the war even mentioned in history books anymore? If it wasn’t for them, the Millenials would all be speaking Japanese or German as their native language.

[SlatRGatr]

Hey notes I apologize if I was a little bit testy. I felt like I was being attacked a bit there is all. I see where you are coming from by my first post. I really don't consider myself a "gambler." I don't hang out too much in casinos. As far as millennials, I don't know any of them who do. You might see "them" a lot, but my guess is it is different groups of younger folks who are there for a night out once or very occasionally (and probably not even gambling much). Nothing like the older folks who hang out for long periods of time playing video poker.

As for me personally, I started out going with some friends and making sports bets for someone's birthday. Everyone lost, except me. I'm the only one who went back. Needless to say I had more fun than they did. I've had a great run. But it's all been on the original $200 that I brought into the casino that first day to have a good time. If I had lost, I probably would not have been back either and never have tried video poker. I started playing video poker because it was a fun thing to do while waiting on my sports bets to come through. And so far, I'd say I'm a natural. LOL. I think I have this game figured out.

[olds442jetaway]

Hope so. If you do have it figured out, you have accomplished what nobody else has managed to do in the long run. I’m not talking about beating the casino by by valuing all of the free stuff as if it were cash. But if you can in the long run come out ahead with just your own cash and free play thrown in than you have really accomplished something. The only people I know that can do this are those that have won huge progressive jackpots and don’t gamble it away after they win.

[tech58]

A "natural", who has "the game figured out", is this a real poster, or a bad joke?

[SlatRGatr]

LOL Just my way of saying I've come out ahead, and it's been pretty easy. Mostly beginner's luck of course. I do have some tips that I might share at some point that have worked out really well.

[notes1]

srg, had not heard from you about; did your parents pay all/majority of your college or do you have lots of college debt, have you worked since graduating at a full time paying job, did you work at a paying job during high school and college?

[SlatRGatr]

High school? No. I only know a couple people who did that.

A lot of friends had parents cover college. That worked out great for them and really set them up well. For me, I wasn't that lucky. I worked full time the first 2.5 years. Once I got into my major, I decided I really needed to focus on my courses and had to go the loan route. I tried working part time at first, but that didn't work out. Tuition in-state runs over 10 grand. Room board and living expenses are a little more than that. So over 2 years it quickly added up to over 35000 in loans. Sucks big time to start out after college with that kind of debt. And I've never touched a credit card. But my major will (one day) lead to a good paying job and I will be able to get rid of the loans quickly unless it turns out better to pay them over time. Tech jobs are more plentiful in some areas than others, and not so much here. I don't want to settle on a minimum wage job in the meantime just making ends meet and not really going down any sort of path. Have to consider whether I keep waiting for the right job here or move to an area with a lot of tech jobs. That's a big decision that I am still processing. Yes I could move out and get a low paying job that just covers expenses. I don't think I would be any better off doing that when I will be moving on to something different within a year any way.

[notes1]

srg, if i read your message correctly, you now have a 4 year degree, in a major that has value, and your total debt is about $35k. you went to an instate school (well done) which saved money and you worked a couple of years (well done) to reduce loan amount. when i check the internet, the monthly cost of your total debt would be about $400-450/mo. it seems to me you have done a good job and while no one wants a $35k debt to start out with, i believe the estimates for new college grads is between $50-60k starting salary. the cost of college is expensive, but it seems to me, that you have done it reasonably economical, considering the long term payback. for those who complain about the debt, i wonder what their monthly cost is for cell phone, entertainment and travel.

as i mentioned previously, this thread was not directed at you and i believe what caught folks's attention, was that you were spending time in a casino, while still living at home.

all of that said, the stats of the survey remain the same. 70% of your generation are still relying on their parents for financial help and an amazing 50% of those are over the age of 30. and, while the article (survey) does not mention this, a very large number of parents are also providing 'day care' for their grandkids.

parents raised their kids, and at some time, they deserve to have a life of their own. there are simply too many millennials who were pampered, entitled and having a difficult time growing up. '30 is the new 20' is so true.

[billryan]

My parents bought their first house in the early 1970s. The block we moved to was full of families. There was one house, out of about thirty, where an elderly widow lived alone, and one or two childless couples but the block was full of kids. My family all moved on, leaving my Mom in the house by herself. The house next to her has a couple who raised their kids and live alone. All four houses across the street are occupied by widows, widower or empty nesters.
Young couples are fleeing NY because housing is insanely expensive. Meanwhile, twenty percent of houses in the zip code have two or less occupants.