Fortunes are made, and disappear, over the lifetime of a single generation. Today, a person in essence takes his wealth from society just for the duration of his or her lifetime. The next generation has to create it anew.
The reality is that the economic situation for millennials is not a good one.
I feel so terrible for the kids now. In London, even people in their forties can't afford to buy a house or have kids.
I was, like, 17 years old, making more money than my parents.
My mom's now enjoying Medicare. She's already retired. She earned it. But for those of us, you know, the X-Generation on down, it won't be there for us on its current path.
The millennial generation in the US is the first that has reduced expectations from those of their parents. And I think there is something decadent and declinist about that.
The Greatest Generation got to save old tires, dig a Victory Garden and forgo sugar. The Richest Generation is being asked to shop.
All of us would like to have our children and their grandchildren grow up with at least the level of prosperity that we had. In the U.S., we seem to be very selfish because the older generation is not making the sacrifices.
Many of my 20- and 30-something peers struggle with student loan debt and high rent, and more than once, I've erupted in laughter at the idea that I will collect any Social Security in my Betty White years.
