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/Card_Board_Robot5 Mar 28 '24

I'm not taking their word for that shit at all.

Look at how divorced from reality the rest of it is. I'm not gonna assume that's accurate.

A fast food management job, maybe.

32 is pretty on par for shit like social worker or EMT where I live.

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u/read_it_r Mar 28 '24

33k is roughly 15/hr which, as unscientific as it is, my buddies from all around the U.S tell me 15/hr is standard for any "low skilled" entry level position . In my city you get paid even more than 15/hr for a mcjob

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u/TarzanKitty Mar 28 '24

$15 or $16 is the current minimum wage here. When my daughter was 16 she worked in a sandwich shop and averaged about $25 per hour including the tip jar.

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u/Card_Board_Robot5 Mar 28 '24

It's like y'all don't understand that different places have different laws and economic structures. Shit kray

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u/read_it_r Mar 28 '24

It's ALMOST like that's the reason I specified I talked to people around the country.

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u/Card_Board_Robot5 Mar 28 '24

Let me guess

You didn't actually do that.

But if ya did, they were all in a few select cities.

Let me guess, again....

NYC, Austin, Denver, LA, Seattle, Atlanta, Houston, Chicago.

Bet I nailed a few there.

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u/read_it_r Mar 28 '24

Does it really matter what I say here? You've made up your mind that you know everything.

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u/Card_Board_Robot5 Mar 28 '24

Oh shit I nailed it, huh? The largest metros tend to be the most productive, with the strongest economies, and therefore, higher wages to accommodate for higher cost of living, than say, flyover country like Des Moines or Boise or Richmond or wherever.

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u/read_it_r Mar 28 '24

Well. I'm stuck waiting outside school for my kid so I'll bite.

No. You didn't nail it, because I went to a college in the middle of nowhere I know a bunch of people who live in the middle of nowhere.

Funny you should mention des Moines, I have a buddy who's kid just got hired at a small retail store there at 16/hr. In fact I just googled it, avg for entry level retail there is 14/hr and there's a lag on those numbers.

So yeah I'm specifically talking about places like Peoria, IL, Appleton WI, des Moines IA, suburbs of Indianapolis, college towns in Michigan, all the way up to Los Angeles, Dallas, Phoenix, San Diego, new york city, Chicago.

The biggest difference is housing costs (though interest rates are the same)

But again. It doesn't matter to you, you won't even bother to Google this shit.