> Land prices for the boomers made them. For their kids unless they are bequeathed land they will have to pay a vast chunk of their salary to rentiers.
My parents are boomers; I received no land and only some help with my college tuition, and I've owned my own place for over a decade.
My secret? I don't waste money on stupid stuff (and especially, I didn't waste money on stupid stuff when I was younger). I've never had cable. I didn't spend tons of money eating out or partying, back in my 20s when that was the thing to do. I drove a crappy used car for over a decade. Back when I rented, I rented a crappy old apartment without dedicated parking spaces; when I bought a place, I bought a crappy little place.
Meanwhile, I had a colleague earning more than me, who literally had no savings, nothing more than a few $20 bills in his pocket, and I've known plenty more young people in straits nearly as bad. Sure, they drive nice cars, eat at fancy places and drink fancy drinks, live in swank apartments nicer than what you'd see on TV, wear nice clothes and nicer colognes, and so on and so forth—but they have no savings, or almost no savings!
You can trim your lifestyle, and you can save 20% of what you make. Saving from your very first paycheque is possible, and it's desirable.
My parents are boomers; I received no land and only some help with my college tuition, and I've owned my own place for over a decade.
My secret? I don't waste money on stupid stuff (and especially, I didn't waste money on stupid stuff when I was younger). I've never had cable. I didn't spend tons of money eating out or partying, back in my 20s when that was the thing to do. I drove a crappy used car for over a decade. Back when I rented, I rented a crappy old apartment without dedicated parking spaces; when I bought a place, I bought a crappy little place.
Meanwhile, I had a colleague earning more than me, who literally had no savings, nothing more than a few $20 bills in his pocket, and I've known plenty more young people in straits nearly as bad. Sure, they drive nice cars, eat at fancy places and drink fancy drinks, live in swank apartments nicer than what you'd see on TV, wear nice clothes and nicer colognes, and so on and so forth—but they have no savings, or almost no savings!
You can trim your lifestyle, and you can save 20% of what you make. Saving from your very first paycheque is possible, and it's desirable.