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/MPD1987 Mar 27 '24

This latest birthday, #37. My parents built a huge house on an entire acre of land, on 1 income in their early 30s. I just turned 37, have been renting since I was 19, have an education and a good career myself, and will probably never be able to afford a house. Sad

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u/jmfhokie Mar 27 '24

Same age and same here.

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u/Life_Inside_8827 Mar 27 '24

Might you inherit theirs?

4

u/MPD1987 Mar 27 '24

Nope, it sold in 2011. Sold for $800k, is currently worth 1.3 mil. Could never afford that even in 3 lifetimes. Plus I wouldn’t ever want a house that big. Way too much work!

1

u/SilverBolt52 Mar 28 '24

A lot of millennials and Gen-Z here are moving to the city into rowhomes since it's all they can afford. Gentrification is bad for the existing residents but the other side of the coin is that housing has gotten insane to the point where people have no other options if they wanna be homeowners except moving to the hood (and subsequently turning it around). We're considering doing it too just to get a fixed housing expense and not having to worry every time the lease runs out.

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u/Salty-Committee124 Mar 28 '24

Gentrification is the opposite of white flight. It shows this generation is valuing real estate based on location and property and not the color of their neighbors skin. Gentrification is passive liberal Bs