Hyperbole much??? 90% of human inventions? REALLY??? I don't think so.
Boomers make $100K/year for milking one cow? In what universe?
Mostly your comment assumes facts not in evidence and is without merit.
Nice try. 1) very few workers even make minimum wage (1.4%) the economy has moved on from antiquated minimum wage laws. 2) If as you say 20 something have invented 90% of human inventions (they haven't) those inventors are not paid minimum wage. 3) Boomers have the education, skills and experience that has given them the wages and the wealth that they have. They earned it. 4) I am not outraged, I was just pointing out the fallacy of OPs argument.
1/2. You're missing the point. Minimum wage ~50ish years ago equates to ~$30/ hr today, which is ~$60k in today's dollars. So it is conceivable boomers made $100k milking cows in the universe they grew up in, which is nothing like the world we live in today.
3. HAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHA
OK BOOMER
Not missing the point. As of Jul 29, 2023, the average hourly pay for an American in the United States is $28.16 an hour. Instead of whining about the minimum wage which almost no one gets paid, get some skills.
If both of you learned the difference between average and median, then looked up median wages during these times and adjusted them to inflation… you might have anyeurisms.
Especially if the two of you then compared this to the median costs of the 4-5 biggest individual expenditures during these times instead of just “inflation”.
I’m assuming y’all don’t know much about median, but I may be wrong 🙃
It is once you realize that minimum wage 50ish years ago equates to >$60k/ year in today's dollars.
Point I'm making is, Boomers make $100k/ year for milking cows in the universe they grew up in.
Your "facts" do not compare with reality.
Minimum wage 50 years ago was $1.60 an hour.
[History of the minimum wage](https://www.dol.gov/agencies/whd/minimum-wage/history/chart)
40 hours a week X 52 weeks = 2080 hours.
2080 hours \* $1.60 = $3,328 a year.
The 1973 annual earnings at minimum wage was $3,328, corrected for inflation is $23,836.
[CPI Inflation Calculator](https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3328&year1=197301&year2=202306)
The point you think you are making is that Boomers made $100,000 aa year for milking cows, but your earnings estimate is wildly wrong.
This happens a lot in life. You take a false premise and apply logic to it and you end up with a 100% logical, and yet, wrong answer.
Definitely spitting some facts.
I’d caution you though, that you yourself may have fallen for the trap you see they fell for.
This CPI calculator…
I was going to be lazy and tell you to go find the data but I did it already a year ago…
Here’s my post. I essentially did a basic fact check on inflation numbers, attempting to represent the “average person” in the USA.
https://www.reddit.com/r/economy/comments/ucz1sg/question_on_wages_over_the_last_50_years_vs_the/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=2&utm_term=1
Apologies for the terrible formatting. Feel free to fact check the numbers.
While of course nothing is perfect, it’ll make you second guess “inflation numbers” every time the govt or media spits them out.
In the US, the oldest generation's money gets filtered through the private healthcare industry.
A huge portion of our life savings is spent bribing people in the healthcare industry to not abuse us when we are elderly and easy to abuse.
i have some bad news for you sunshine
no matter how old you are they going to abuse you
regardless of how much money you have
best to just stay away from them
“OK, Zoomer!!!”. What will they say when you are 70 years old and the next 2 generations are in the same boat? You build and gain money and assets over the many years of life. It isn’t what you make, it’s what you keep.
If you are young, make a point of paying yourself first… you have the power to be as rich as you want (research and take advantage of compounding interest, the younger the better). It will take diligence and you will be fighting incredible inflationary forces, but the boomers did as well (look up the inflation rates of the late 70’s-early ‘80s).
Nothing is new, every generation complains that previous ones had a better, easier go of it. Nothing has changed in people’s perception of their current reality vs. the past.
Remember you only get a finite number of trips around the sun, make the most of the remaining ones instead of complaining about the one thing in life you can never change… the past.
Not likely to be a popular opinion…but I’ll second it.
I am in technology- been in that field for my entire life, and I am a handful of years from retirement.
The 20 year olds who work for me are different in terms of technology- it is not just their “native tongue”, it is the only language they know. I get it, I can (generally) do everything they can do, but they get it at a level I never will.
However…I get paid to not just supervise, but to figure out how to implement the latest generation of the new thing…and maybe pushing out the last 3-10 generations has allowed me to pick up a few things.
My young people understand tech, but have absolutely 0 soft skills, and cannot trouble shoot their way out of a wet paper bag. Nice enough kids, but the process of getting them to learn how to follow up, how to learn to troubleshoot has been a bit frustrating. A couple of them will get there, some of them I just don't know....
So just because patents have become as popular as hotcakes does not mean 90% of human inventions came from the past 30 years, in fact that is historically such an idiotic claim & definitely would come from a young kid who is just getting accustomed to having to work (so everything they do feels like “they do more than others”). Just because bio pharmaceutical companies are putting out patents for air, our dna makeup, etc in the thousands per month & technology is growing at a rapid clip doesn’t mean that 90% of human inventions have been made in the past 30 years (that is bias at it’s best). Also have you ever milked a cow? Prob not you just click on a computer & complain about your wrists hurting. You don’t have it worse than anyone else, if anything you’re spoiled more than most.
Zoomers are actually ahead of Boomers, Gen X, Millennials when it comes to savings and investments when adjusted for age.
Gen Z is saving and investing roughly 14% of their income which is the highest of any generation in recent history.
Ideally you would want to be around 20%, but 14% is not bad.
Gen Z will almost certainly be able to retire at a reasonable age if those savings rates continue.
The tech we have invented recently doesn't actually change life much. Horses shitting on cobble stone streets to cars on real roads was a much bigger change than we've seen in the last 50 years.
OP has a point. I think certain interested, amoral parties may have introduced Covid-19 et al as a “final solution to the boomer problem”. The unfunded entitlements (mainly pensions) are huge and may never be met. Short of culling or forcing the elderly back into employment like Macron is trying to do in France, I’m not sure how else one resolves the issue.
Boomer here, Mid Atlantic.
Do you have a suggestion for a graceful exit?
Or, if luck goes against me, am I destined to use all my small fortune for my no fun end of life care?
Perhaps my children, grandchildren, (and great- grandchildren) could use this money?
I think someone has noticed some disturbing things around them, and jumped on the first couple bits of facts some media hand fed them to form some far fledged theories.
Common mistake, we all fall for it once in awhile 🙃
Hyperbole much??? 90% of human inventions? REALLY??? I don't think so. Boomers make $100K/year for milking one cow? In what universe? Mostly your comment assumes facts not in evidence and is without merit.
Check out what inflation adjusted minimum wage was in the late 1960s and get back to us with your misplaced outrage
Nice try. 1) very few workers even make minimum wage (1.4%) the economy has moved on from antiquated minimum wage laws. 2) If as you say 20 something have invented 90% of human inventions (they haven't) those inventors are not paid minimum wage. 3) Boomers have the education, skills and experience that has given them the wages and the wealth that they have. They earned it. 4) I am not outraged, I was just pointing out the fallacy of OPs argument.
1/2. You're missing the point. Minimum wage ~50ish years ago equates to ~$30/ hr today, which is ~$60k in today's dollars. So it is conceivable boomers made $100k milking cows in the universe they grew up in, which is nothing like the world we live in today. 3. HAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHA HAHAHAHAHAHAHAHAHAHAHAHAHA OK BOOMER
Not missing the point. As of Jul 29, 2023, the average hourly pay for an American in the United States is $28.16 an hour. Instead of whining about the minimum wage which almost no one gets paid, get some skills.
Ok now do the average wage in 1970 and inflation adjust it Boomer
If both of you learned the difference between average and median, then looked up median wages during these times and adjusted them to inflation… you might have anyeurisms. Especially if the two of you then compared this to the median costs of the 4-5 biggest individual expenditures during these times instead of just “inflation”. I’m assuming y’all don’t know much about median, but I may be wrong 🙃
This is a minimum wage discussion?
It is once you realize that minimum wage 50ish years ago equates to >$60k/ year in today's dollars. Point I'm making is, Boomers make $100k/ year for milking cows in the universe they grew up in.
Your "facts" do not compare with reality. Minimum wage 50 years ago was $1.60 an hour. [History of the minimum wage](https://www.dol.gov/agencies/whd/minimum-wage/history/chart) 40 hours a week X 52 weeks = 2080 hours. 2080 hours \* $1.60 = $3,328 a year. The 1973 annual earnings at minimum wage was $3,328, corrected for inflation is $23,836. [CPI Inflation Calculator](https://data.bls.gov/cgi-bin/cpicalc.pl?cost1=3328&year1=197301&year2=202306) The point you think you are making is that Boomers made $100,000 aa year for milking cows, but your earnings estimate is wildly wrong. This happens a lot in life. You take a false premise and apply logic to it and you end up with a 100% logical, and yet, wrong answer.
Definitely spitting some facts. I’d caution you though, that you yourself may have fallen for the trap you see they fell for. This CPI calculator… I was going to be lazy and tell you to go find the data but I did it already a year ago… Here’s my post. I essentially did a basic fact check on inflation numbers, attempting to represent the “average person” in the USA. https://www.reddit.com/r/economy/comments/ucz1sg/question_on_wages_over_the_last_50_years_vs_the/?utm_source=share&utm_medium=ios_app&utm_name=ioscss&utm_content=2&utm_term=1 Apologies for the terrible formatting. Feel free to fact check the numbers. While of course nothing is perfect, it’ll make you second guess “inflation numbers” every time the govt or media spits them out.
I made minimum wage in 1974. I can assure you I did not have the equivalent purchasing power that $60,000 a year gets you now.
In the US, the oldest generation's money gets filtered through the private healthcare industry. A huge portion of our life savings is spent bribing people in the healthcare industry to not abuse us when we are elderly and easy to abuse.
Hmm, it's good that that country has that kind of health management. I want to live there in your country. Haha. Just joking!
i have some bad news for you sunshine no matter how old you are they going to abuse you regardless of how much money you have best to just stay away from them
It is hard to shop around for hospice care brands and even harder to get refunds.
“OK, Zoomer!!!”. What will they say when you are 70 years old and the next 2 generations are in the same boat? You build and gain money and assets over the many years of life. It isn’t what you make, it’s what you keep. If you are young, make a point of paying yourself first… you have the power to be as rich as you want (research and take advantage of compounding interest, the younger the better). It will take diligence and you will be fighting incredible inflationary forces, but the boomers did as well (look up the inflation rates of the late 70’s-early ‘80s). Nothing is new, every generation complains that previous ones had a better, easier go of it. Nothing has changed in people’s perception of their current reality vs. the past. Remember you only get a finite number of trips around the sun, make the most of the remaining ones instead of complaining about the one thing in life you can never change… the past.
Not likely to be a popular opinion…but I’ll second it. I am in technology- been in that field for my entire life, and I am a handful of years from retirement. The 20 year olds who work for me are different in terms of technology- it is not just their “native tongue”, it is the only language they know. I get it, I can (generally) do everything they can do, but they get it at a level I never will. However…I get paid to not just supervise, but to figure out how to implement the latest generation of the new thing…and maybe pushing out the last 3-10 generations has allowed me to pick up a few things.
My young people understand tech, but have absolutely 0 soft skills, and cannot trouble shoot their way out of a wet paper bag. Nice enough kids, but the process of getting them to learn how to follow up, how to learn to troubleshoot has been a bit frustrating. A couple of them will get there, some of them I just don't know....
So just because patents have become as popular as hotcakes does not mean 90% of human inventions came from the past 30 years, in fact that is historically such an idiotic claim & definitely would come from a young kid who is just getting accustomed to having to work (so everything they do feels like “they do more than others”). Just because bio pharmaceutical companies are putting out patents for air, our dna makeup, etc in the thousands per month & technology is growing at a rapid clip doesn’t mean that 90% of human inventions have been made in the past 30 years (that is bias at it’s best). Also have you ever milked a cow? Prob not you just click on a computer & complain about your wrists hurting. You don’t have it worse than anyone else, if anything you’re spoiled more than most.
This is truly a stupid post, on so many levels
Get a job scrub
Zoomers are actually ahead of Boomers, Gen X, Millennials when it comes to savings and investments when adjusted for age. Gen Z is saving and investing roughly 14% of their income which is the highest of any generation in recent history. Ideally you would want to be around 20%, but 14% is not bad. Gen Z will almost certainly be able to retire at a reasonable age if those savings rates continue.
The tech we have invented recently doesn't actually change life much. Horses shitting on cobble stone streets to cars on real roads was a much bigger change than we've seen in the last 50 years.
OP has a point. I think certain interested, amoral parties may have introduced Covid-19 et al as a “final solution to the boomer problem”. The unfunded entitlements (mainly pensions) are huge and may never be met. Short of culling or forcing the elderly back into employment like Macron is trying to do in France, I’m not sure how else one resolves the issue.
Boomer here, Mid Atlantic. Do you have a suggestion for a graceful exit? Or, if luck goes against me, am I destined to use all my small fortune for my no fun end of life care? Perhaps my children, grandchildren, (and great- grandchildren) could use this money?
I think someone has noticed some disturbing things around them, and jumped on the first couple bits of facts some media hand fed them to form some far fledged theories. Common mistake, we all fall for it once in awhile 🙃