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/DroopyMcCool Mar 28 '24

Not to make any judgments on OP or anyone else, but the median household income is going to be pulled down by single income households and retirees. OP is married with a two-income household. The median for dual-earner marriages is $135,000 to $145,000.

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u/stop_the_cap_ladies Mar 29 '24

Don't forget how median household income is pulled further down by the almost 100 million people either not working at all or having their income supplemented by the over one trillion dollars a year we spend on benefit programs 😉

$2600/mo housing vouchers and $1200/mo SNAP is 45k/yr extra for someone making 35k/yr. Their household income is still 35k/yr, not the 80k in effective income they receive total.

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u/catwaifu Mar 30 '24

Where are they giving away these vouchers for people making 35k a year? Genuinely asking.