The top story coming off of CNN’s political twitter this morning is the exact reason I hate being called a Millennial. Millennials are adults who were born between the years 1981-1996.
CNN’s title is foolish, and I am not going to be the only one forced to read this hard-hitting political piece. *eye roll*
Title: Many millennials are worse off than their parents — a first in American history.
The title alone will make your eyes roll so far back into your head that your family might think you are suffering from political hack induced seizures. Then we move to the first sentence of the “piece,” and it says: “On paper, it looks like Scott Larsen is doing better than his father was at the same age. At 29, Larsen has a college degree and earns more money, but he doesn’t feel he’s moving up in the world.”
The article provides excuses as to why this millennial has to live with his parents. The 29-year-old is making $60,000 a year as a marketing manager for a health and beauty company based in Provo, Utah. He FEELS like he can’t afford to live by himself even though at this same age, his father had bought a house and had two kids on 20% less salary. His father was making about $20,000 a year that is approximately $50,500 in today’s market.
What is the most significant difference between Scott and his father, Craig, you ask? His father got a job as a mechanical engineer, which is an industry that will always have LONG TERM JOB MARKET SECURITY. His son has chosen to work for a small beauty company with a marketing degree that does not have the same potential for upward movement.
The government has PUSHED the past 10-15 years to get kids interested in the STEM field for a reason. These positions tend to pay well, have long term market viability, and strong ability for career advancement.
The reasons that Millenials are worse off than their parents is not because they were born in a recession, but because parents of Millenials continue to allow them to go to college for majors like marketing, sales, history, etc. These degrees have a LOW chance of upward mobility.
Every single one of my graduating friends who had degrees in History or Marketing is now in a field that has NOTHING to do with their majors. Why? *BECAUSE THOSE MAJORS DO NOT PAY WELL*
When you pick an easy major so that you can party and waste time, but still graduate – you are not then allowed to complain when you are not as successful as your parents.
Also, our parents were smarter about the way they spent their money. Having our generation grow up with the internet at our fingertips came at a price. We think that instant gratification in the real world is the norm. The reality is that the real world takes a strong work ethic, which most millennials can not even define.
CNN kept making the argument about housing costs, and the soaring prices of homes in good neighborhoods being so overpriced most millennials can not afford to buy them, opting instead to stay in their parents’ homes.
Millennials are expecting to walk out of graduation with a 4,000 sq ft home and a luxury car. The reality is that their parents weren’t able to get those beautiful houses and nice cars they saw growing up, for about 20 years. Their parents worked hard, saved their money, and made sacrifices. They got married in their twenties, had children, and still lived successful lives.
The big push in this article is that if we were to cancel these student loan debts for Millenials who are struggling to pay the balance, we could help them to live these successful lives as quickly as their parents.
This is a bunch of bull. Millennials in general (I am one, but feel I don’t fit the stereotype) have no concept of hard work or the time it takes to be successful.
When you want the success that your parents received but take a marketing position in a small start-up company – don’t be shocked when you are still at home in the basement of your parents’ house. It has nothing to do with student loans, and everything to do with the terrible career choice.
Millennials need to stop asking for the taxpayers to cover their debts simply because they make terrible choices.