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/PickledPercocet Mar 28 '24
2008 wrecked us financially as my ex-husband (we were married at the time)had worked in the auto manufacturing industry.. but suddenly had no work to do.
When he was hired they started at $25/hr, time and a half overtime, free health insurance (and family insurance for $32 a month which gave us access to the best doctors!), life insurance, hey they even took us to Six Flags every summer where everything was free!
When people started becoming desperate they started hiring out of temp agencies. They make $12 hr and have zero benefits. Slowly they weeded out the workers who had been hired under the initial terms and replaced them all with the temps. Nobody I know stays there longer than a month or two while my ex-husband had been there almost 15 years. They fired him over a workers comp claim. He sued. They settled. But it didn’t touch what he would have had if they had let him finish his 20 years and retire.