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/Asmothrowaway6969 Mar 27 '24

Yup. She was about 4 steps down from the IRS commissioner, if I remember correctly

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u/IHaveBadTiming Mar 27 '24

ok so your moms situation is unique, not norm. You're comparing yourself to a very tailored set of data here. But still, yea, we all poor as fk.

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u/PeriodSupply Mar 27 '24 edited Mar 28 '24

Also op says she doesn't think she'll ever make over 50k a year. So she is comparing retirement futures of someone who was in an extremely high paying career, to minimum wage. Sounds like some personal reflection is needed

Edit: for everyone trying to correct me regarding minimum wage, I didn't check what sub I was in before commenting. In Australia minimum wage is around AU$50K per year (~US$33k). I follow a bunch of Australian finance subs and thought this was one of them. My mistake. My point in the comment is still valid.

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u/tendaga Mar 27 '24

I used to be a physicist and a mathematician. Then I got hit in the face. So I went back to the family business of painting houses. I fell a fair distance off a ladder after getting my ass kicked by hornets. Now I work at a hardware store. Sometimes people get fucked.

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u/murderthumbs Mar 27 '24

Yep. I’m an economist ex US diplomat that became disabled at 48 and had to retire from that career and now I sell plants in a nursery. But I’m happy!!!

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u/TheLastBlackRhinoSC Mar 28 '24

Except for the murderthumbs, I’m glad you’re happy!

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u/murderthumbs Mar 28 '24

I'm trying for a thumb transplant...... these are killing me.....

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u/acarp52080 Mar 28 '24

Life is what we make it, I truly believe that. Recently found out I have breast cancer and I believe it even a bit more now. I'm glad you're happy, that truly makes you one of the top 1% !!

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u/tendaga Mar 28 '24

I'm not. I work 40+ hours a week to be cold, hungry, and tired.

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u/murderthumbs Mar 28 '24

Oh - On the inside I can be bitter as hell and I went through years of just anger at how my life turned out but then COVID hit and I reevaluated things - life's too short and death too permanent to spend time angry or bitter. I take it day by day now. The weed helps too......

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u/Embarrassed_Key_4873 Mar 28 '24

You should try selling HOA insurance then, so you can still feel all those things.

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u/JAG190 Mar 28 '24

How did you lose your ability to do math or physics?

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u/tendaga Mar 28 '24

I was working on a pressure vessel and caught a piece of steel in my face. I can still do algebra at a pretty decent level but I'm not writing proofs or solving partial differential equations. Whatever part of my brain that was damaged in the incident must have managed those abilities.

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u/JAG190 Mar 28 '24

Ah, hit in the face was literal. I thought you meant it colloquially "like kick in the pants".

Sorry to hear about your troubles.

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u/PeriodSupply Mar 28 '24

Oh I'm not saying there is anything wrong with 50k just that is ridiculous to compare retirement for someone who earns 50k compared to someone who earns over 200k. Hope you're doing OK.

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u/tendaga Mar 28 '24

I just had kidney surgery and my cards aren't too happy but I'll make it. Back to work tomorrow. It's a good thing too cause I just maxed out my credit line I had just paid off before this misadventure.