June 1, 2019
Since World War II, fucking over the next generation became a kind of American tradition.
Sacrificing the future of the nation for feel-good illusions in the present is treason.
The average net worth of Millennials is less than $8,000 – the latest sign that the generation is doing far worse than their older cohorts, according to a new study.
It represents a 34 percent decrease since 1996 in the net worth of Americans ages 18-35, according to the report by Deloitte, an accounting and professional services firm.
The authors attribute the disparity to the fact that Millennials are facing rising student loans, higher rents and skyrocketing health costs.
‘The vast majority of consumers are under tremendous financial pressure,’ said Kasey Lobaugh, Deloitte’s chief retail innovation officer and lead author of the study in an interview with The Washington Post. ‘That is particularly true for low-income Americans and Millennials.’
The findings are counter to perceptions about Millennials – who are often characterized as avocado toast ordering over-spenders who are ruining America by delaying home buying, marriage and having children.
In the past, our ancestors managed to let the next generation start off better than they started. They managed to improve the environment and provide better chances for their offspring.
At some point in recent history, that changed. People began fucking over the next generation and taking debts everywhere to pay for their hedonistic, sterile lifestyles.
They ruined the future.
Why do we allow these older generations to continue to enjoy what they’ve gained through fucking the younger generations over?
We should take all of their ill-gotten wealth and use it to improve the youth and the future. Use it to fuel the creation of new families.
The wealth belongs not to them, but to the nation.
Instead, we’re experiencing financial despair while they sip their martinis in their beach condos as they talk about newer generations not knowing the value of a dollar and Mexicans working harder than Americans.
Here’s an example of this “fucking over future generations” dynamic, from a post in Reddit’s “Am I the Asshole?” community.
A user writes:
SO (33M) and I (24F) have been together for over a year and half. We’ve been living together for a few months. His family is religious and every time there’s a family event they always ask “when are you getting married?”
They all make hopeful comments about me getting pregnant soon (not the right time), always talking about how great it would be for us to wed. They’re a bit invasive, but at least they’re supportive, I guess? (shrugs).
I’m a part time student and work, SO works about 60h/week and doesn’t make a lot of money. Plus, the following:
We checked his credit score a few days ago, and it’s bad. If a score went from 1 to 1000, his would be 10. Meaning: he can’t buy a car, he can’t open a business, he can’t rent a place to live, he can’t order a credit card; he can’t do a thing involving banks and credit. He was going back to university next year for a degree he’s passionate about, but guess what? He can’t even get approved for school loans!!!
His mom owns a small business that is neck deep in debt. She owes banks about $100.000 in loans and interest. She gets angry if anyone tries to help figure it out. SO is listed as a partner in the business, and he can’t legally get out without the debt being paid off…
Besides that, his parents have taken multiple loans throughout the years in SO’s name, which they never payed back. So picture how badly a few $2k loans can grow with interest added. Then picture it over a few years span… Yeah. That bad. Plus… Telephone bills unpaid in his name (his mom’s phone).
So basically he’s fucked. He confronted his mother about this mess, and all she can say to him is: “it’s being handled” – in a very dismissive way. And we know for a fact it’s not, and will only get worse.
I am thinking about next time I see her and she asks about weddings, babies and shit, I’ll flat out say: “I will not marry your son if he doesn’t have a credit score. I will not put a child in this world to inherite over $100k in debt. I will also not mary someone and risk getting that debt either. So, until you figure this mess out, don’t bother asking me.”
I want her to know how badly she’s fucked her son over. I want her to feel it. I want to make her take responsibility and make her realize what’s at stake here.
WIBTA if I do that? Please, let me know.
The woman is interested in helping her boyfriend, but the people responding to her post are more interested in getting her to break up with the man than to point out how evil his parents and the recent previous generations of boomer-tier incompetent hedonists are.
Here are some of those comments:
NTA—but OP, the way you phrase your question suggests it’s your boyfriend’s mom you’re discussing marriage with, that she’s one of the two primary stakeholders in this question, and not your boyfriend. Think about that for a minute. I think it says a lot about your situation.
Your boyfriend could be the sweetest, funniest guy, but he is nowhere near a point where he can be someone’s husband.
The debt alone is a lot. This will take some time to pay off, and affect your quality of life.
The fact that he didn’t know about it means he hadn’t been thinking about his credit score, or even checked it. That’s a level of financial naïveté that’s concerning at his age.
He is obviously completely enmeshed with his mother/family. Your relationship with him could very well be secondary to his family relationship.
This doesn’t mean that his family wasn’t abusive, or that the abuse was his fault. He sounds like he needs a lot of help to overcome the legacies of his past – and present. But that doesn’t mean that you have to be there for his journey.
He’s also 34 dating a 24 year old, not a good sign he’s mature.
He’s 33, not 13. Suggesting he has no culpability in his own finances is asinine. He’s had 15 years to take measures to protect himself including freezing his credit and reporting his parents for identity theft. He’s done nothing and allowed it to escalate. He could’ve also taken a more active role in the management of the business. He’s done absolutely nothing.
It absolutely does – I agree. The point is that he’s 15 years into adulthood and hasn’t done shit to protect himself or his future. The point is that he has been complicit in his own financial ruin for well over a decade. He is likely a victim of a crime, but somewhere along the line he’s chosen to remain a victim instead of take any active measures in securing his financial future.
Imagine the outrage if someone even implied about a life-long victim of sexual abuse that “somewhere along the line she’s chosen to remain a victim instead of take any active measures in securing her sexual future.”
You’re right. He should have put a freeze on his credit years ago if he wasn’t complicit in all of this. When credit is frozen, no creditor can check his credit and won’t extend credit
“She should have put a freeze on her rape years ago if she wasn’t complicit in all of this.”
You need to decide what’s best for you and your future family.
A 33 year old that has a lot of personal, financial, and familial issues to sort out doesn’t sound like an ideal husband. I also understand that he’s been victimised to an extent too, but at 33 his finances are his responsibility. Trying to pin it all on his family is a bit misplaced, as others have said.
Most people should have good credit by 30, even if they can’t afford a house yet. That takes years to build, and your boyfriend can’t even begin to build it until he immediately does something drastic.
The time to have ambition and dreams is from ages 12-18. At 33, it’s long past the point those ambitions should have been realised and actively worked on.
There is a reason he’s dating someone nearly ten years his junior who still manages to be more mature.
Your SO is not an innocent here. He’s had well over a decade to start acting like an adult. He’s not fresh or of high school, just striking or on his own. He’s old enough to be married with a pile of children. Please, OP, stop looking through rose colored glasses and see this objectively. Either he’s been severely abused and is emotionally stunted, or he chose this situation and is feeding you a fairy tale.
Either way, it’s very very bad for you.
NTA maybe I’ll get downvoted for this but good lord honey you’re only 24 and you’re settling for a 33 year old goofball who doesn’t even have a credit score! Please don’t marry into this family whose members don’t seem to have any financial sense!
That is what I thought… if he’s 33, has parents’ debt, and cannot handle his finances, is going to school to get more debt…
How will he fare in tough times? Where is the responsibility? I’m 28 with some debt (~$5k), but make my minimum payments if I cannot pay more, budget, and live within my means.
The woman resists the push and refuses to break up with the man.
Here are some of her comments:
I partially agree with your point of view. This looks bad. But I disagree with the goofball part. Despite being hardworking and centered (and waaay more responsible than his parents btw), he believed them and their abilities to handle commitments. He was led to believe those bills were being paid on time, and his mother always assured him they were. He thought he was helping by signing on the loans. Every time he needed something to do with credit, they arranged so it was on someone else’s line of credit.
I will not marry him, until he has a realistic plan to get off this mess.
That’s exactly the situation. He’s actually doing something about this. He’s not a moron. He’s in touch with an accountant and getting in touch with a credit attourney. He is covering all his bases in a way to get out of the hole, without suing anyone. Which is why my frustration lies in the family’s behavior. They don’t ackowledge their screw up. They act as though they did nothing wrong in lying and hiding about what really was going on.
If you see your parents providing for you all your life, and running a business which they tell you is somewhat successful, do you ever even consider saying: “No, parents, I won’t sign off this loan for you.”? No… Because you are pushed into “helping us out”.
I am not, though.
Think about it like this: When your entire family is lousy with money, and you have no good example on how to handle finances, something as simple as pulling out your records to check your financial life is not something that comes naturally to you. Now add emotional guilt and manipulation into the mix (“You HAVE to pay our bills, because we supported you all your life”). Now add financial guilt and financial emotional manipulation on top of that (“Why would you want a receipt for this? Don’t you trust me? I told you, we’re taking care of it!”).
Sure, he should have realized things were messed up before… But add a 12h shift to this mix. Now add, not going on vacation for over six years, because you’re guilted and called lazy if you take any down time at all. What’s the result? A burned out, stressed person, with limited energy to figure messes out. He’s got life savings, yes. Does he want to destroy them to relieve parents of the burden THEY have placed? Hell no!
When he finally realized things were not okay and acted upon it, it was already very bad and very late.
I am with this person, and I worry about this person because I love and care for him deeply. The financial struggle is our only issue to move forward. We comunicate well, we are an united team, and we have converging goals. We have healthy dynamics – which is WAY more than I can say about most posters on this sub (hell, on the entirety of reddit!). So since our only issue is finances, no… I will not give up a meaningful, overrall healthy relationship, with someone I love, just because he was late to figuring out his finances, after all he’s been through. I am in no way or form “parenting him”. He’s not a child, and he’s definitely not immature. And he’s also not throwing this on me so I can sort out this mess; he’s the one sorting it out… But I can’t help being angry about the whole thing.
So I should ignore all the progress he’s had in such a small amount of time, ignore my feelimgs and move on because money?
People figure those things out at different rates. He’s taking charge. He’s taking measures to solve this problem. Should I just say “not good enough, you worthless loser” and move on? It’s a sad way to approach the good relationship I have with him. The healthy dynamics. The happiness we share. The personal growth. The plans we made.
Congrats on figuring it out sooner. All the power to you! But he’s not a lazy tosser just because it took him longer, you know?
His parents are irresponsible as hell. If it was up to them, I’d be living in their home with all of them, with a newborn baby, being a stay at home mom.
SO is very responsible. He has ambition and dreams. However he was always gaslighted into not only paying for home bills, but also staying at home. Whenever he would aspire for better jobs, for continuing his education, and for well, getting the fuck out, they always put barriers up. Now that he’s finally taking steps away with his own foot, putting up boundaries and stuff. And now he’s realizing… “Oh shit, they are irresponsible as hell”.
I know… I meant figuratively, but couldn’t over explain to not pass the character limit.
My reasoning is: How can we afford giving a child a life, if this ticking time bomb is on the horizon? According to the paperwork for the business, if anything happens to his mom, the business is his responsibility (he owns a percentage of the store). So besides the debt already in his name, he will be responsible for the failed business’ as well.
He stayed home all this time. He had a shit job before, working night shifts. His previous girlfriend who lived with him, convinced him it was best they lived at his parents’ so they could save up (she didn’t want to get a job, she felt being a house-er, not wife- was good enough)… So he complied for about 5 years.
His car was purchased on his uncle’s credit (SO paid for it, but the loan was on uncle’s name because his mother said something had come up with the financing, but she was working on it). When he finally managed to get a better paying job, he started taking more hours and working day shift (more money too).
He knew about the loans. He signed them off, and his mother led him to believe everything was being paid for. Whenever he would ask she’d say it was fine, and he had nothing to worry about. He took their word for it. He knew about the debt, but he thought it was a more manageable amount of debt, and that it was being paid off (again, his mother always said it was being paid off). She told him so, and “well, its my mum, she would tell me if it was bad, right?”. Wrong.
Recently when he decided to go back to uni, he started looking into financing and all that. He applied for a credit card and was denied. Then another one. Then he realized something was wrong, and we sat down to discuss his credit score. They abused his trust in them… Simple as that.
Unfortunately, the damage is done and she’s likely to soon “feel trapped” in the relationship and end up getting fucked by some nigger somewhere.
Older people are forcing women to fuck niggers as a consequence of the financial terrorism they inflicted on our nations.
The parents of the man from that story should sell their house and pay for the debt they inflicted upon his son.
Their time has already passed.
Old people that are both useless and damaging to the present should have their stuff taken away and put to good use.
Blood-sucking fossils have to go.