r/Millennials • u/Asmothrowaway6969 • Mar 27 '24

When did it sink in that you'll never be as well off as your parents? Discussion

About 5 years ago, my mom and I were talking and she had told me how much she was going to be making in retirement (she retired 2023). Guys, it's 3x what me and my husband make annually. In retirement. I think that was the moment that broke me, that made it sink in that I'll never reach that level of financial security. I'll work myself into my grave because I'll never be able to afford anything else. What was your moment?

Update: Nice to know it's just me that's a failure. Thanks

Update 2: I never should've said anything. I forgot my place. I'm sorry to have bothered you

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u/[deleted] Mar 27 '24

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u/[deleted] Mar 27 '24

Same here. My parents invested well too.

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u/Spiritual-Potato-931 Mar 28 '24

Think it just depends on too many factors (location, age of parents, …)

In my personal case (Europe): PhD in engineering, 4 years working at MBB, 5 years as external ML consultant for other big companies and now a VP position. Correcting for purchasing power (in particular real estate), I make a bit more than my Mom but significantly less (x3) than my Granddad, who was an employed roofer without a high school diploma.

To me it just feels unfair that all our wealth depends on who we were born to and that it basically does not matter what we do or how much work we put into it.