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Add it all up and it’s no surprise that we’re the first generation in modern history to end up poorer than our parents..
“Some days I breathe and it feels like something is about to burst out of my chest,” says Jimmi Matsinger.
It was 2010, and Scott had just graduated from college with a bachelor’s in economics, a minor in business and ,000 in student debt.
At some of the interviews he was by far the least qualified person in the room.
He sometimes considers getting a master’s, but that would mean walking away from his salary and benefits for two years and taking on another five digits of debt—just to snag an entry-level position, at the age of 30, that would pay less than he makes driving a bus.
At his current job, he’ll be able to move out in six months. There are millions of Scotts in the modern economy.
I am 35 years old—the oldest millennial, the first millennial—and for a decade now, I’ve been waiting for adulthood to kick in.
My rent consumes nearly half my income, I haven’t had a steady job since Pluto was a planet and my savings are dwindling faster than the ice caps the baby boomers melted. More millennials live with their parents than with roommates.
Contrary to the cliché, the vast majority of millennials did not go to college, do not work as baristas and cannot lean on their parents for help.
From job security to the social safety net, all the structures that insulate us from ruin are eroding.
And the opportunities leading to a middle-class life—the ones that boomers lucked into—are being lifted out of our reach.
We spend money we don’t have on things we don’t need. We killed cereal and department stores and golf and napkins and lunch.
Mention “millennial” to anyone over 40 and the word “entitlement” will come back at you within seconds, our own intergenerational game of Marco Polo.
In 2008 we weren’t hiring graduates, let’s hire all the people we passed over.’ No, they hired the class of 2012.”You can even see this in the statistics, a divot from 2008 to 2012 where millions of jobs and billions in earnings should be.