Can't save if you can barely afford to live. Student debt, high COL housing, healthcare, etc. Boomers got a head start with great incomes (high quality of life on single earner income), cheap housing, cheap healthcare.
The less regulated fields have shown massive increase in quality and or massive decrease in pricing which makes up for the price inflations of the other sectors.
I always calculate the income of my grandfather against mine using [1] calculator, he was earning about 3k per month when he was about ~30. That's about 9.5k per month in today's money, I'm earning about 3.8k per month.
So is more than double, it kind of match the graph, which I found interesting.
Boomers grew up in a generation of less regulated markets. Less regulated markets allowed for greater wealth creation. Easier to build wealth when there's more money to go around.
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[ 61.7 ms ] story [ 487 ms ] threadmedian income vs cost of living would be more interesting to me
The less regulated fields have shown massive increase in quality and or massive decrease in pricing which makes up for the price inflations of the other sectors.
So is more than double, it kind of match the graph, which I found interesting.
https://data.bls.gov/cgi-bin/cpicalc.pl