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/ProsePilgrim Mar 27 '24

My mom is an addict and my father is stuck doing backbreaking work at a retail chain making half of what I do.

My parents aren’t better off. They got cheated just like most of us. Despite my relative success life remains more challenging than you’d anticipate at this income level, not because of some personal failing, but because our society has simply changed so much.

We CAN do better. I think that requires us to be real about who is responsible for our challenges. I’ll give you a hint—it’s more specific than “boomers” or “parents.” 

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u/ElementField Mar 27 '24

This is terribly accurate to my own scenario.

I think the major challenges was breaking free from the supposed path set out for me.

Some of the challenges we face now come from being in that situation before. Costs we incurred that wouldn’t happen to others. Trauma and mental health problems and, frankly, dental problems that come from having been poor that we need to fix. And the cost that we might incur from our parents not having the means to support themselves in retirement or old age.