why generation y yuppies are unhappy

[Lanyap]

LOL

 

[njdevilsfan87]

Let's not forget who crashed the market in 2008. Thanks for that by the way. I graduated 6 months after that, within the top 10% of my class with a degree in mechanical engineering, internship experience, and still couldn't find a job (for a while). Not that I care, but, just saying!

 

[Spungo]

Let's not forget who crashed the market in 2008. Thanks for that by the way. I graduated 6 months after that, within the top 10% of my class with a degree in mechanical engineering, internship experience, and still couldn't find a job (for a while). Not that I care, but, just saying!

That was generation X who did that. The baby boomers paid their mortgages decades ago and generation Y is mostly saving up for a house (or planning on living with parents forever).

 

[yuku]

I watched the movie wall street yesterday.

The movie wall street, you mean the movie shot in 1987？

 

[actuarial]

My pension stems from a military career. I believe I more than I earned a pension although I suppose many won't.

It all depends on how you defined 'earned', and who is paying for the pension. I have all the respect in the world for military careers, and am not saying you didn't earn a pension, your pension just may be completely unfair to current taxpayers (or current servicemen).

It depends on the promise made and the validity of that promise today. For example, many union pensions in the US are funded by members, but were not funded in a manner that could sustain those pension today. So someone may have contributed 7% of their salary each year to get a 70% replacement at retirement. Well, it turned out the true cost was 12% of salary. So today's workers are paying 17% of salary (12% for their own pension, and 5% to cover the pension of people already retired) for the exact same benefit.

In other public sector pensions, no money was put away and pensions were paid out of tax receipts. So 30-40 years ago when there may have been 40-50 taxpayers for every public sector retiree, those pension made sense. Today there may be only 10-15 workers for every public sector retiree. So today's taxpayers are paying triple the cost for the pension promise, all for retirees who in many cases worked when they weren't even born. The taxpayers that got the benefit of the work paid a tiny share of what the true cost of the pensions they promised were worth.

I don't know exactly how military pension plans are funded in the US, so I can't comment on the specific inter-generational equity at work, but it is almost universal that today's workers/taxpayers have to foot the bill for the mistakes of the past. If your parents ran up a big gambling debt and then passed away, would you be happy to pay for it?

Note that none of the numbers above are reality, but the directional change is correct and the point made holds in reality.

 

[Texashiker]

Lets just go ahead and face it, people no longer know what makes them happy.

If you listen to commercials, the only way to be happy is to be in massive debt - buy the new phone, buy the new TV, buy the new car,,,, buy, buy, buy until you are tapped out.

True happiness can not be based on physical items. Having something is not going to make you happy. People have to make a decision to be happy, nobody and nothing can can force you to be happy.

My exwife was very unhappy when we were married. When I tried to talk to her about her mental health, she would say "look at who I am married to." In other words, she blamed me for her being unhappy.

After I left and we divorced she still was not happy. A decade after we divorced and she is still angry and bitter at the world.

Happiness is a decision we make within ourself.

The problem with generation Y is they have been told so much garbage they do not know what they need to do to be happy.

A couple of months ago my wife and I planted a willow tree in the front yard. I have been watering the tree so much a frog has made the mulch around the tree its home. Its the little things that should bring us happiness. Such as seeing a tree grow, a frog, a squirrel playing in the trees, chickens scratching at the ground, wind blowing through the trees,,,, those are the things that should bring us happiness.

 

[Spungo]

It all depends on how you defined 'earned', and who is paying for the pension. I have all the respect in the world for military careers, and am not saying you didn't earn a pension, your pension just may be completely unfair to current taxpayers (or current servicemen).

I don't understand why we can't just cut the pensions down to a reasonable rate. It doesn't take much money to keep someone alive for 20+ years. I was going through my numbers last week and discovered that my current lifestyle would only cost about $14,000 per year after my mortgage is paid. That's about $7 per hour if working full time. My life is pretty good. I like my car, I have a cute kitty, I have 3 computers, DSL, an iphone, 43" TV, PS3, I eat anything I want, I buy anything I want. Is it really necessary for someone to have a $40,000/yr pension? How much cocaine is that person doing? I couldn't snort that much if I tried.

 

[Exterous]

I don't understand why we can't just cut the pensions down to a reasonable rate. It doesn't take much money to keep someone alive for 20+ years. I was going through my numbers last week and discovered that my current lifestyle would only cost about $14,000 per year after my mortgage is paid. That's about $7 per hour if working full time. My life is pretty good. I like my car, I have a cute kitty, I have 3 computers, DSL, an iphone, 43" TV, PS3, I eat anything I want, I buy anything I want. Is it really necessary for someone to have a $40,000/yr pension? How much cocaine is that person doing? I couldn't snort that much if I tried.

Because people planned on and expected to have that money and they vote? Also - just because you can live on $14,000 a year doesn't mean everyone can. Costs of living vary greatly. Are you going to pay for the re-location program? Maybe only one spouse worked but 2 need caring for off of the pension

 

[Oyeve]

I always thought I was a gen X'er, but according to that timeline I am gen Y.

damn it, now I hate myself!

I missed being a baby boomer by 2 years! Gen X is the best. We had all the variants in music, good and bad!

 

[Doc Savage Fan]

I missed being a baby boomer by 2 years! Gen X is the best. We had all the variants in music, good and bad!

But Gen X essentially missed the 60s...an incredible time in our history, good and bad!

 

[Oyeve]

But Gen X essentially missed the 60s...an incredible time in our history, good and bad!

True, but im an old enough gen xer that I fondly recall the 60s. My first album I purchased was Willy and the Poor Boys. 1969. Still have and play it.

 

[OverVolt]

inb4 more baby boomers suck generational equity from Gen y before belittling us.

 

[OverVolt]

I don't understand why we can't just cut the pensions down to a reasonable rate. It doesn't take much money to keep someone alive for 20+ years. I was going through my numbers last week and discovered that my current lifestyle would only cost about $14,000 per year after my mortgage is paid. That's about $7 per hour if working full time. My life is pretty good. I like my car, I have a cute kitty, I have 3 computers, DSL, an iphone, 43" TV, PS3, I eat anything I want, I buy anything I want. Is it really necessary for someone to have a $40,000/yr pension? How much cocaine is that person doing? I couldn't snort that much if I tried.

Families, needing a new car, still paying down a mortgage etc. etc. etc. That is basically house poor with a bunch of electronics though. The days of electronics being expensive is over, it is now dirt cheap for that stuff relative to other entertainment.

 

[ch33zw1z]

True, but im an old enough gen xer that I fondly recall the 60s. My first album I purchased was Willy and the Poor Boys. 1969. Still have and play it.

Old Fart

I quoting this to say...Love your avatar!

 

[OverVolt]

Let's not forget who crashed the market in 2008. Thanks for that by the way. I graduated 6 months after that, within the top 10% of my class with a degree in mechanical engineering, internship experience, and still couldn't find a job (for a while). Not that I care, but, just saying!

Shoulda been trying harder.

 

[pcgeek11]

Originally Posted by actuarial View Post
It all depends on how you defined 'earned', and who is paying for the pension. I have all the respect in the world for military careers, and am not saying you didn't earn a pension, your pension just may be completely unfair to current taxpayers (or current servicemen).

I don't understand why we can't just cut the pensions down to a reasonable rate. It doesn't take much money to keep someone alive for 20+ years. I was going through my numbers last week and discovered that my current lifestyle would only cost about $14,000 per year after my mortgage is paid. That's about $7 per hour if working full time. My life is pretty good. I like my car, I have a cute kitty, I have 3 computers, DSL, an iphone, 43" TV, PS3, I eat anything I want, I buy anything I want. Is it really necessary for someone to have a $40,000/yr pension? How much cocaine is that person doing? I couldn't snort that much if I tried.

Do you think an average military pension is $40,000 dollars? That is a joke right?

I get approximately $1,500 dollars a month taxable for my 20 years of service.

 

[shortylickens]

because happiness = reality - expectations, and their expectations are through the ROOF

http://www.huffingtonpost.com/wait-but-why/generation-y-unhappy_b_3930620.html

i fall into this gen but the article still made me lol continually. i think my expectations are a little lower than most peoples, plus things have worked out pretty well for me thus far i guess.

Thats a simple way to say it.


A little more depth: http://www.amazon.com/The-Self-Estee.../dp/0316013129

EXCELLENT book for baby boomers, Gen X, and Gen Y.

 

[OverVolt]

High expectations just means reality hasn't set in yet. The expectations are based on years prior. These things take time but its obvious where its headed.

 

[Hayabusa Rider]

Oops

 

[desy]

Seems OT?

 

[OverVolt]

Seems OT?

Guess it was

 

[Spungo]

Families, needing a new car, still paying down a mortgage etc. etc. etc.

Fuck those people. Let them starve. People who still have a mortgage after 40+ years of employment are hopelessly retarded. No amount of money can help them. They'll probably spend it on cocaine or whatever the hell they were wasting money on. Why do they need a new car in addition to their free Obama phone? I work full time and even I don't get a new car.

Do you think an average military pension is $40,000 dollars? That is a joke right?

I get approximately $1,500 dollars a month taxable for my 20 years of service.

My dad's state pension was around $60,000 per year until he died. It transfered over to my mom, so she collects something like 80% of that until she dies. With no debt and no kids living there, she's swimming in cash. She bought a slightly used Subaru WRX STI to use as her grocery getter because she loves powerful cars. Before dad died, they had trips to cuba (you need to drive to canada first), trips to mexico, and they went on a cruise for a week, all in the same year. I'm really happy that my mom is doing so well in her golden years, but let's keep it real. We can't afford to have tens of thousands of people living like kings for the next 20-30 years. It will eventually bankrupt the country.

 

[pcgeek11]

Snip ~

My dad's state pension was around $60,000 per year until he died. It transfered over to my mom, so she collects something like 80% of that until she dies. With no debt and no kids living there, she's swimming in cash. She bought a slightly used Subaru WRX STI to use as her grocery getter because she loves powerful cars. Before dad died, they had trips to cuba (you need to drive to canada first), trips to mexico, and they went on a cruise for a week, all in the same year. I'm really happy that my mom is doing so well in her golden years, but let's keep it real. We can't afford to have tens of thousands of people living like kings for the next 20-30 years. It will eventually bankrupt the country.

Damn. What state is that Californication?

No, It couldn't be Californication or it would have been twice that.

 

[DucatiMonster696]

I watched the movie wall street yesterday.

"You guys are the NINJA generation! No jobs, no incomes, and no assets, you're all fucked haha!"

And gen y was like haha!

But I think it is dawning on them right around now that they actually are pretty screwed. Our parents didn't have to borrow nearly as much to get an education, house, car, etc. Even when adjusted for inflation. Even people with assets are feeling squeezed and sell off assets to survive but Gen Y of course never had any golden economic years to acquire any to begin with.

So while the boomers are doing reverse mortgages and shit saying money doesn't grow on trees or whatever, ah screw it its a disaster. You get my drift though.

Why weren't your parent's borrowing as much? Oh that's right because they were induced to save and rewarded for saving.

However in today's economic and monetary policy the climate toward savers has been "We are going to force you to spend it NOW or loose it.", so saving is often a fruitless endeavor unless you decide to take on greater and greater risks by jumping into the stockmarket or other risky ventures as the value of our currency is steadily debased.

 

[Spungo]

Damn. What state is that Californication?

No, It couldn't be Californication or it would have been twice that.

Washington.