Former Secretary of Labor Robert Reich explains the forces driving the generational wealth gap between baby boomers and millennials.

they eat avocado everyday

For Malaysian, will be diabetes tea

Ok boomer

Boomers are hoarding those wealth.. share la

This post has been edited by xeroxphan: Jan 30 2020, 09:09 AM

Millennials logic. Don't do work but want a share of the wealth. Tongkatus maximus syndrome.

ok boomer

healthy wat

totally agree!

My parents are Baby Boomers and they agree as well.

Baby Boomers were very lucky, they have taken and exhausted all world's resources.

Before Millennials were born they are building wealth already, and after millennial were born, Millennials only work just to sustain them (pay for those Board of Directors, bosses expensive houses, 20 cars, expensive bungalows, expensive travel vacations)

Even richer for politicians like Tun's generation very lucky.

Because boomers think paying 2k for fresh grad is a lot alrdy, and doubling the property prices in a decade is sensible, and that their success are ALL due to their "hard work" alone

I am a millennial in my 30s, born in the late 80s... hurm..

Too late to explore the world, too early to explore the outer world

not healthy for the pocket

The yolo lifestyle of strawberry generation.

noob..u dont know what is called
YOLO.
u Yolo, i Yolo

this one is true.
satu tangan tepuk tak berbunyi.

Ok Boomer.

As long as I get to change iPhone every year.

Too many people, have to print more money... causing shrinking currency values...


So the same amount of money buy you less stuff..



Banks/financial system are one of the main culprits.


For the US, the constant need to go to war and fund their military for occupation is another reason.

Uncle Sam wasn't war mongering red neck until Jipunis bombed their Pearl Harbor. Blame Jipunis for that.

who cares

healthy > money

Money is a modern slavery system invented by the elite few to enslave the bulk to keep on working for them.

Born after which year only count as millennial?

yaga....based on ayam conversation with cny fren, all earn at least >10k per month. drive big car, buy big house, annual europe trip, and ipong

actually theres some truth to it,

one of the core reasons why people find it hard to move up or get good income is cause retirement age is increasing

so if you think about it the cost of goods and services are going up, but the relative income level of an individual doesnt go up unless the older generation retires.

One of my relatives complained that her salary as a senior bank manager pales in comparison to the salary of a newly promoted bank manager today.

Another relative complained that his salary as a sole practitioner lawyer pales in comparison to the salary of many sole practitioner lawyers today.

Many of my friends came from poor to lower-middle income families. Today, several of them have, at the ages of 37 to 39, already made their first million. One or two on their way to their third or fourth million.

Millennials have access to better education, better healthcare, better technology, better transportation, a globalized world, etc. Compared to the "boomers".

I cannot brain some of these things sometimes.....

......... and yet you term yourself theBornLoser..........

ok boomer

Shhhh..... I am trying to stay low profile...... just make sure you don't lose to me, that's all.....

Yeah, at the ripe old age of 39, I actually feel like a 60 year old now.... so much stress and pressure in life....

It is true what they say... money may buy you a home, a comfortable life, a stable family life, and some assurances for your loved ones and children, but man, can it not buy you happiness.....

millennial need to do disruptive business in order to be rich like boomers. the distribution of wealth will happen when boomers lose their money and these money come into the hand of millennial.

if not, the maintenance system will still be there.

biar betul... how did Muricunt get Pinoyland from Spain then?

yes, that is what 50% of millennial support socialism and communism.

That is why Bernie Sanders is going to win the democratic nominee.. The next course of action.. USA will become a socialist country..

GG wealthy people.

You can read more of what I predict will happen to rich people over here: https://forum.lowyat.net/index.php?showtopic=4898221&hl=

This post has been edited by Liamness: Jan 30 2020, 09:59 AM

salary never increase for 20 years while other stuff increase by few folds
and they made a video on why millennials don't have money?

My wife colleague, a 24 years old teacher(guy), buy a new Iriz top spec, the funny thing is he doesnt have a license and dont dare to drive his new car, he actually ask my wife to drive his car from showroom to his home.

Buy, for the sake of buying.

if malaysian they will salahan kerajaan

the total time millennial spend on handphone, games and entertainment, are many times more than their parent working hours. that's a fact.

40 y.o now.
work mostly for family & kids.

tunggu older generation mati

pandan ke

You can say.

I have a bad news for you

i tot i was boomers but fall into millennial .. inb4 20k salary no complain

But mostly it just boils down to Boomer and Non-boomer only in most tokok.......

boomer born after 1945 ler. are you mahathir's buddy?

after war, all the guy come back and fffffff then boom. babies everywhere.

This post has been edited by Phoenix_KL: Jan 30 2020, 10:31 AM

study loan is the main cause...even got documentary in utube aready highlight this
2nd is spend habit aka buy WANT item

This post has been edited by pundi: Jan 30 2020, 10:32 AM

I know someone buying iPhone that cost 2X of her gross monthly salary.

Apa boleh buat? Everyone needs to show off in their social media.

Every month go travel

Because they are trapped by the idea of go to college and once graduate can become rich. Total bullshit.

then later need urgent money WTS pulak....just let them be jer la
study loan is kindda 50% own choice and 50% family/every1 do it so... thinggy

It used to be true (grad and get better life) until Msia start mass produce graduates. Now everyone on the street has a cert but questionable quality.

Do you guys know boomer's health is failing?
Do you guys know large % of boomer still have not move forward into modern age, stuck in the 1990s mindset. Too dumb in the modern society standard?

Base on this two you can easilly make a lot of money from them. Instead of start whining or start making money off the society the old school way. How about start making money at the boomer's expense?

gotta go sell snake oil and health prolonging charms

Boomer needs more sexy homecare nurse

but.. why. gif

Me gen x, the silent generation.

so..........

I did not know boomers were born from 1944 onwards. Looks like my parents are both from boomer generation then. My old man only earned RM300 / month in his first job on SPM qualification. My mom always talked about the potty toilets households of that era used.

Wish we could all be boomers again. Superb lifestyle, and many opportunities to become rich

Everyone on the street has a cert but they're eating in different restaurants.

Hell some even don't need a cert.

Hmm is that the story your wife told you? ....

"ok boomer"

right?

i dont click the vid.

Yeah, with pictures send.

Actually not his house la but in hostels cuz hes warden.

Also he is pandan type guy

yup some health product can profit margin 200-300%, buy at RM100, sell RM500 cause they are uninform dumb lolz

No one would buy a car without licence. And no one would ask a female kolik to drive the new car unless

Cuz he is too ashamed to ask male colleague and would become the laughing stock.

Being in the medical biz this breaks my heart and values

Auntie this thing don't la, go doctor, get proper checkup.

NO, TRATIONAL CINIS MED CURE ALL, WESTERN DR CHEAT MONEY

I'm like "gotta start peddling alore Vera to cure cancer"

Probably didn't drive since the day he got his driving licence. May need to practice in secluded neighborhood before becoming road worthy.

You cannot make money by just being a doctor anyway.

A doctor recommending a health product = make hell a lot more money.

Auntie What?!! consultation fee RM100? thats scam!
Doctor : OK, Consultation RM30, heres nutritional product you can try see if it work or not.... for RM500. (actual cost RM100)

well, baby boomer also got ppl buy taiko tai(1st gen handphone), 1st gen mac or pc which easily cost few times their gross monthly salary then. but didn't see that stopping the "generalization" that baby boomer are the richest generation.

So true, that the boomer enjoyed such good economic times.

My parents own property in SG, Msia, Aus, & Canada.. whilst still only being salaried workers..

it's amazing what they have managed to achieve on modest savings and average office workers.

Yet, they are the first to complain about how hard their lives were compared to ours..

OK boomer.

Those are generally businessman and someone who needs it. I don' t think that era got ppl who's willing to spend 2x of salary to get a phone.

Take my fresh grad staff, first month salary buy Airpods liao. I earn 5 figures also I cry when I see the Airpods price hahaha. But it's good that they keep the economy going.

yes sure, they are correct on life is hard part, since all the money is kept in saving, not in lifestyle or for convenience in daily life.

This post has been edited by brkli: Jan 30 2020, 11:21 AM

Wow it seems you fail to see the big difference.........

There are alternative to cut throat iPhone, so many smartphones nowadays at affordable budget price.
How can you compare buying early adopter tech to buying iPhone? Any early adopter of new tech will have to pay the initial high price due to initial cost of the new invention.

yup, you are correct, yet they(the early adopters, baby boomers) are still the richest generations.

This post has been edited by brkli: Jan 30 2020, 11:27 AM

Well, put it this way....

The first time my parents took me overseas was to Singapore. When I was aged 8.

The second time I went overseas was to Australia, when I was aged 15. Reward for good results in PMR. My old man did not go, only me and mum.

Same for my siblings.

The first time I ever ate sushi? When I was 16. Once a year treat from a relative. I discovered how awesome salmon tasted then.

The lifestyles my "salaried" parents led back then were pretty damn stark. Very little on luxuries, a lot on savings, investments, education for kids and a full pantry.

My parents would probably survive in almost any era and in most forms of hardship. Someone like me... like I said before, would 24th floor if I was transported back in time to my father's generation.

But hell yeah, OK boomer!

correct. why your PM still have rock in 100k salary when he`s past his prime time..
and is a transition pm. LEL

If baby boomers are the richest generation, then your parents should be leaving your big inheritance lor, why complain?

Why need extra 10th floors?

Because new gen everything more dramatic to attract more likes............

1. Lifestyle
2. Lifestyle
3. Lifestyle
4. Lifestyle

Want to confirm insta-death. Don't want to land awkwardly and then still be alive for another 30 seconds or even 1 minute.

boomers will die sooner or later. eventually still pass to next generations lah. so tackle those rich son or rich daughter for easy wealth?

This post has been edited by happyking4ever: Jan 30 2020, 11:35 AM

i know, it just bites me abit to do something like that

like the corona virus thing, i keep telling folks face mask doesnt do shit, you need the legit ones. Surgical masks is to protect someone else from you.

no one listens

why so many people could not see the big picture that how long can boomers still live? it is just a matter of time when millennials got their free wealth and can yolo until break leg also no worry.

Middle class is disappearing and those who continue to play the blame game will just be left behind and drop to lower class.

Step up, work hard and smart, sink or swim.

yeah, but they are complaining to deaf ears since I don't buy things unless i need it. heck, my phone is still a S7 edge.. I bought almost 4 years ago now. Still working like brand new. Just battery doesn't last as long as I would hope it did. But that is expected with old phones.

Elect me, I can change everything overnight.

I will re-categorize to T90, M5 and B5. 90% ppl will be top tier and happy to vote for me.

Then I would say your parents would have probably 24th floor if they were transported to our current times, and living on a day-to-day basis with how many siblings you had and how little money they made..

Back then, you could technically get by with very little. Today, No chance man.. if you fall into poverty, the likelihood that you get to enjoy travelling overseas and stuff is super unlikely..

If your father worked his job today, he would be in struggle town..

well, maybe if is was your parents, they would buy a Honor 5X then and keep complaining on the slowness and how hard to use it due to lag..

This post has been edited by brkli: Jan 30 2020, 11:49 AM

Yolo who cares we re all gonna die anyways

This is jz america lah

IMO in msia... pretty much most millenial is doing better than baby boomer
This is due to our developing country status... most of the baby boomers have limited high tech job during the time compared to now.

Bravo........ finally someone who's not confused by western shit about boomer. I'm living a better life than my parents back then.

A helicopter parent is a parent who pays extremely close attention to a child's or children's experiences and problems, particularly at educational institutions.
Helicopter parents are so named because, like helicopters, they "hover overhead", overseeing every aspect of their child's life constantly.

This post has been edited by Phoenix_KL: Jan 30 2020, 12:01 PM

not true.. boomer father, and his boomer siblings can afford multiple properties in PJ/Klang Valley area..

I think at my age, early 30s, they each own 2 properties in KV liao.. Myself and siblings, can only own 1 ..

And I would say my job & siblings jobs are significantly better paying jobs than what my parents used to have at same age (office secretary & plant manager).. meanwhile my siblings are one IB, a doctor, a PE, & 5-star hotelier manager.

So that tells me that despite earning more than our boomer parents, our lives is still tougher due to inflation and higher property costs. We can barely keep up, although our lives are relatively good, but not as good as boomer parents who had average 9-5 office job, less working hours, less stress, less jam, more personal time, more work life balance & etc..

I can only imagine what life must be for those of my generation earning average to below average income..

they must be in struggle town..

This post has been edited by Liamness: Jan 30 2020, 12:02 PM

Which is legit one?

Already said... my father's time, chicken meat is only for CNY, eggs is once a month or so, and milk is non-existent.

During their time, they also had to work hard. Raise children and sustain an elder on their own.

If my parents were transported to today's era with its modern conveniences, I fear they would become like me!

I mean, in any era, you have your char siews and strawberries, and you have your survivors and successful folks.

In every era, you also have your regular, almost daily complainers, and you have folks who do something about it, while appreciating the past and working towards the future.

Hell, yours and my grandfather's generation was WWII. Don't think you and I would survive long

I mean, you do whatever you want to do in life lar. I am not going to convince you of whether you are living in good, prosperous, peaceful times, or in hard, poverty-stricken, miserable conditions times. You view it whatever way you want to, OK