iPhoneIt was all over the news today — about how seniors are 47 times wealthier than they’re under-35 counterparts.

Statistics can be tricky.

And they can easily be groomed and spun to suit whatever you want them to.

That said, I think the disparity may have something to do with the under-35 crowd spending over $1000 on new cell phones and their associated “plans” every year.

Just something to think about before you pick up the next i-whatever from Apple.

4 COMMENTS

  1. College is more expensive, even after inflation, than it was for the Boomer generation. Houses are pricier. Wages are lower. But that said, I think our standard of living is higher than what the Boomers had when they were young. Medicine is more advanced. Technology is much much more advanced. We have email, mobile phones, and a zillion TV channels.

  2. I agree.

    I think that we need to promote more reasonable and logical choices in young people. It also should be noted that over 65’s experienced decades where markets doubled and tripled, and jobs were abundant.

    In contrast, an under 35 who might have had a full-time, well paying job starting in 1996 has not had access to a steady stock market. And, with the way things are going, might not ever.
    In addition to teaching smart spending and saving habits in our children and young people, we need to promote realistic educational/vocational plans. College is more expensive, as kennedi pointed out, and many who hold pricey degrees are not also holding jobs. Parents and schools need to promote the idea of college as a means to a job and promote seeking alternative career paths besides four-year universities as viable alternatives-vocational schools, two-year universities, internships, externships, apprenticeships.

    The truth is, college isn’t for everyone. And many who have been buried under a huge pile of student loan debt have traded their chance of building any real wealth and security for an experience that has a disproportionate ROI.

Leave a Reply