Millenials Are A Trillion Dollars In Debt And Most Don't Even Own A Home

[Tom Foolery]

It's Game Over.

 

[eastsideTT]

bring the guillotines out

DeVos and her war criminal brother should be first

 

[truth2you]

Yeah but they won't sustain that wealth at all, most of the wealthy people in this country are first generation, most of them won't teach their kids how to continue that, you're gonna see a lot of family buisnesses sold off to other people

You are looking at it wrong, they can sustain that wealth because its from investments. It's how the boomer generation got the wealth, not owning businesses. The stock market made so many millionaires since 2008/2009. Do you know from 2015-2018 millionaires grew 40%(I think)? There are 15,356,000 millionaires in the U.S.

http://money.com
1 Out of Every 20 Americans Is Now a Millionaire: Report

"The rise in the stock market is the biggest reason for the gains, which in turn were driven by both stronger underlying economic conditions and the prospect of lower taxes and deregulation, Credit Suisse reported."

Financial advisors have been planning this for years, why do you think rent prices are going up, and buildings being built, all over the place? Or tax reform was rushed? It's to get some of that money that is about to go out to Generation X & Millennial, and allow them to keep that money in the system which means they won't go broke any time soon. In fact the millennial's kids will eat off of that boomer money!

This is white people, though, blacks aint getting shyt! This is why we need reparations, if we don't get it, we will be a permanent underclass!

 

[iBrowse]

Reading this thread title gave me indigestion:heyheyhey:.

 

[FooFighters]

The problem is gonna be multiple bubbles popping at the same time.

We're all fukked if there's another repeat of 2008.

What do you mean by "if"? That's a "when".

 

[PHamm]

How yall going to great schools with 10k in loan debt at the end?

I got a scholarship for half my tuition and STILL got 100k in debt. Looking back i should have rather gone to CC and just taken it slpw.

Im a first gen college student and when i got out in 2009 there were NO jobs so had to go get a masters to have people even take a look at me. ANother 30k. I graduated both in STEM and i thought i was doing good ...

but yall talking 10k in debt and 100k salary right outta college. What yall work for google? the fukk? yall making more than some my bosses with 20 years exp (ive worked on a few high profile jobs too..) , right out the gate?...

Im just curious cuz only people i know making money like that are owners of their own business. You will make a great living but 100k outta college is not reality for most people. My last boss def a millionaire.. but im sure tye resposibility is out of this world. enlighten me.

Tbh breh we are online and people tend to exaggerate their salaries. If you go by what the coli brehs claim then the average coli poster is making 125k a year when in reality its probably similar to ths national average

 

[Dwolf]

The American dream

 

[Based Lord Zedd]

Btw College is only a scam if you are stupid and naive.

Scams exist to take advantage of people who are stupid/naive. Why victim blame when you got legit scumbags on the other side taking advantage of people?

 

[UberEatsDriver]

Scams exist to take advantage of people who are stupid/naive. Why victim blame when you got legit scumbags on the other side taking advantage of people?

Yea they do and if you fall for it then that’s on you. Had this been ten years ago I would definitely agree and speak like you. But it’s 2019 at this point the scam is point blank in your face.

 

[Based Lord Zedd]

Yea they do and if you fall for it then that’s on you. Had this been ten years ago I would definitely agree and speak like you. But it’s 2019 at this point the scam is point blank in your face.

A lot of the people who were "scammed" by college were in school 10 years ago.
And regardless we're talking about kids who are applying to college at like 17, attending high schools that probably don't require personal finance classes.

I also disagree that if you fall for it, it's on you. People falling for it will end up affecting all of us, student loan debt is a big problem that is going to have to be addressed above the individual level.

 

[Jhoon]

That 3.5% sounds tempting, let’s say you get fha loan, because u are only putting down 3.5%, for the life of your loan you will be required to pay mortgage insurance which doesn’t benefit you, it benefits the bank just in case you default. Some people don’t want to throw away money like that. If you are okay with paying a premium that benefits the services and lender, go for it.

I will say this, if you have to do this or you already have, you can always try to refinance into another investor if your credit will allow it and you won’t have to pay mortgage insurance anymore.

That premise isn’t true. You pay the insurance until you get to 20 percent equity.

 

[Jhoon]

I ain't giving you rude ungrateful motherfukkers shyt. Use Google or enjoy your long term relationships with Chase Financial. :funny:

You can’t discharge your student loan debt.

 

[Jhoon]

Btw College is only a scam if you are stupid and naive.

At the end of the day I do think people with degrees on average make more than people without them.

My homegirl whose a VP at Goldman Sach didn’t go to expensive NYU for her degree. Instead she went to a business minded school named Baruch that is under CUNY.

Her degree cost pennies compared to NYU and she secured an internship at the strength of her school and now she’s VP with no college debt.

There are loop holes to everything in life no matter the direction.

I have posted my story on this forum numerous times. I barely graduated high school. I went to a community college and was admitted to the nursing program before all of the stupid wait times.

I already told my daughter she can be successful than me by 22 if she plays her card right. Hopefully, she graduates HS with an associates degree, go to an LPN program/ nursing program that isn’t bsn. She then gets her bsn and NP by the she hits 21.

 

[Uitomy]

You are looking at it wrong, they can sustain that wealth because its from investments. It's how the boomer generation got the wealth, not owning businesses. The stock market made so many millionaires since 2008/2009. Do you know from 2015-2018 millionaires grew 40%(I think)? There are 15,356,000 millionaires in the U.S.

http://money.com
1 Out of Every 20 Americans Is Now a Millionaire: Report

"The rise in the stock market is the biggest reason for the gains, which in turn were driven by both stronger underlying economic conditions and the prospect of lower taxes and deregulation, Credit Suisse reported."

Financial advisors have been planning this for years, why do you think rent prices are going up, and buildings being built, all over the place? Or tax reform was rushed? It's to get some of that money that is about to go out to Generation X & Millennial, and allow them to keep that money in the system which means they won't go broke any time soon. In fact the millennial's kids will eat off of that boomer money!

This is white people, though, blacks aint getting shyt! This is why we need reparations, if we don't get it, we will be a permanent underclass!

I get what you’re saying
I can’t help but feel we won’t get reparations till they completely and utterly fukk up the value of the dollar
Like they might give us 20k only for inflation to make it worth like 10k, which is still a grip but you know, still fukked up

 

[Eastside Get The Money]

Student loan debt has doubled in a decade

That is an alarming sign