So, Where Is All The Money Coming From?

[iamwhatiseem]

can you offer some stats on this compared to say 10 or 20 years ago?

Thanks

Also it always makes me think of a line in the movie Breakfast Club"
The "weirdo girl" said to the "jock" - "my home life is unsatisfactory". To which he replied "all of out home lives are unsatisfactory, otherwise no one would leave home".

Very true. If parents provide all their child want all the time - why would they leave?

 

[Harpy Eagle]

Actually I heard this on the news awhile back,,,, I found this though - this is the first time since the great depression that the MAJORITY of 20 somethings still live with their parents.

A majority of young adults in the U.S. live with their parents for the first time since the Great Depression

The share of 18- to 29-year-olds living with their parents has become a majority since U.S. coronavirus cases began spreading early this year.

www.pewresearch.org

Thanks.

It is interesting that the percent living at home has been rising since the 60s, would not have expected that. Not surprised though that there was a big jump after the recession of 08/09, I feel a lot never went back to "normal" after it. Jobs that were supposed to be for young people starting out are now being held by older people.

 

[iamwhatiseem]

Thanks.

It is interesting that the percent living at home has been rising since the 60s, would not have expected that. Not surprised though that there was a big jump after the recession of 08/09, I feel a lot never went back to "normal" after it. Jobs that were supposed to be for young people starting out are now being held by older people.

I think it is more of a culture thing.
I became 18 years old in 1983. Back then that was the customary age to begin the process of moving out. Whether you were going to college or not. A 25 year old living at home still in 1980s was a loser. A mommas boy.
Today, that is becoming a norm. Why?
I think the line I mentioned from the movie has something to do with it.
I was raised by baby boomers. And baby boomers did not spoil their children. And that is the understatement of the day.
Like most kids of my era - you got a toy on your bday and Christmas. Period. You had exactly zero chance to get a gift from your parents except those 2 days out of the year. And when you became 16 years old, if you wanted something - like better pair of jeans than your Mom wanted to buy you - get a job and pay for it yourself.
For the past 20-25 years kids get stuff from the parents year round. Parents slap down credit cards and buy shit for their kids even when they don't have the money!! Who can blame them for not moving out??

 

[Harpy Eagle]

I think it is more of a culture thing.
I became 18 years old in 1983. Back then that was the customary age to begin the process of moving out. Whether you were going to college or not. A 25 year old living at home still in 1980s was a loser. A mommas boy.
Today, that is becoming a norm. Why?
I think the line I mentioned from the movie has something to do with it.
I was raised by baby boomers. And baby boomers did not spoil their children. And that is the understatement of the day.
Like most kids of my era - you got a toy on your bday and Christmas. Period. You had exactly zero chance to get a gift from your parents except those 2 days out of the year. And when you became 16 years old, if you wanted something - like better pair of jeans than your Mom wanted to buy you - get a job and pay for it yourself.
For the past 20-25 years kids get stuff from the parents year round. Parents slap down credit cards and buy shit for their kids even when they don't have the money!! Who can blame them for not moving out??

I hear what you are saying, but I think it is tad more involved than that.

I am one year older than you and I understand what you are saying about parents buying things for their kids, but I also know that my grandparents thought my parent's generation were too soft and spoiling us. Every generation seems to think this about the next.

When I turned 15 I got my first job, bagging groceries. Any teenager that wanted a job could find one and it was not really all that hard.

It is not that way any longer. My children are 27 and 20. When my oldest was 16/17 she struggled to find a job and only got one because a friend of mine from church was the manager at at craft store. She got her 2nd job because my best friend's wife worked at the YMCA and gave her a person reference.

Fast forward 7 years and I am no longer a part of the church and do not know anyone that works for a business that would be hiring teen agers and my son struggled to find even fast food work. There was no widely available jobs like when I was that age. He got hired when a Freddy's opened a new place in our town and they over hired for the grand opening. After 6 months almost all the teens were gone and my son was working with 25-40 year olds. Then he got fired because he would not work till 1 am on school nights as he was still in high school.

My daughter is now 27 and making 6 figures, she has found her niche. My son went to lineman's school and got his CDL but cannot find work using either because he is only 20 and companies insurance will not cover a 20 year old driving something that requires a CDL plus it is only good in one state at at time till he turns 21. So he is in holding pattern for the next 10 months working shit jobs that do not pay worth a damn till he can use what he worked so hard to learn.

It is a lot more than just "culture thing", it is also an economy thing.

 

[Road Runner]

People are working harder than ever. Saying young people don't want to work is wrong. They do work.

LOL where!?

If you are able to type on this forum you are able to hold a job.

And you know this how?

One thing to remember, there has never been this many 25+ people still living with their parent(s). There are still staggering #s of 30 somethings sill living at home.

If you don't know anybody's full private business then you really shouldn't be making any judgement calls about it yourself.

 

[Harpy Eagle]

And you know this how?

My co-workers wife works from home transcribing audio into typed text.

You could do that, though I am pretty sure your SSI payment than she was making doing it.

 

[iamwhatiseem]

I hear what you are saying, but I think it is tad more involved than that.

I am one year older than you and I understand what you are saying about parents buying things for their kids, but I also know that my grandparents thought my parent's generation were too soft and spoiling us. Every generation seems to think this about the next.

When I turned 15 I got my first job, bagging groceries. Any teenager that wanted a job could find one and it was not really all that hard.

It is not that way any longer. My children are 27 and 20. When my oldest was 16/17 she struggled to find a job and only got one because a friend of mine from church was the manager at at craft store. She got her 2nd job because my best friend's wife worked at the YMCA and gave her a person reference.

Fast forward 7 years and I am no longer a part of the church and do not know anyone that works for a business that would be hiring teen agers and my son struggled to find even fast food work. There was no widely available jobs like when I was that age. He got hired when a Freddy's opened a new place in our town and they over hired for the grand opening. After 6 months almost all the teens were gone and my son was working with 25-40 year olds. Then he got fired because he would not work till 1 am on school nights as he was still in high school.

My daughter is now 27 and making 6 figures, she has found her niche. My son went to lineman's school and got his CDL but cannot find work using either because he is only 20 and companies insurance will not cover a 20 year old driving something that requires a CDL plus it is only good in one state at at time till he turns 21. So he is in holding pattern for the next 10 months working shit jobs that do not pay worth a damn till he can use what he worked so hard to learn.

It is a lot more than just "culture thing", it is also an economy thing.

Ah - I see what you are saying, and sadly you are correct.
What used to be jobs for teens, is filled by adults because so many labor jobs are extinct.
I have enormous experience in my field. But my field is not what it used to be. Through the 1990s-2000s it was nothing for a commercial printing plant to make 20% profits and up. Today... most are less than 10%. So therefore over 50% of commercial printers went under between 2009 - 2020. And a LOT more with Covid.
We survived Covid. Barely. But I do not know if we will survive the current inflationary/shortages and a certain recession that has already started. 2009 was brutal. I had 43 employees. Now... 8.
This is actually connected to your point, believe it or not ... what I am saying is folks our age finding themselves unemployed for one reason or another, and having limited marketable skills... end up getting jobs in retail.

 

[Harpy Eagle]

what I am saying is folks our age finding themselves unemployed for one reason or another, and having limited marketable skills... end up getting jobs in retail.

Yeah. I got out of the Marine Corps in 09 with 3/4 of a Bachelors degree and as you put it "limited marketable skills" outside of air field OPs and those jobs are hard to come by.

The best offer I got was from WalMart who was targeting senior enlisted/jr officers for store management positions. We were put in as Shift Managers (2nd in the store behind the store manager). Did that for 2 years till WalMart got rid of the program and then got rid of us for the most part. Took 4 months to find a job after WalMart. That was a real wake up call for me so I used my GI Bill and finished my Bachelors and got my Masters in less than 3 years.

Choose Informatics for my Masters degree (they later changed the name to Applied Analytics) as it was at the time one of the 5 fastest growing jobs in the country. Been doing that since 2013 and have not looked back. I keep my certifications current and even got my PMP to make myself more marketable if I lose my current job for whatever reason.

I really am glad I am not a young person just starting out, shit sucks right now. Even hiring is all on-line and it is impossible to sell yourself to a real person any more to get your foot in the door.

 

[initforme]

Kids living at home is a positive shift. Less debt accrued. Less spending. No mortgage liability. No marriage, and probably no kids that go unwanted. Just a few of the positives

 

[JohnDB]

And as I just checked this out because I was looking at my big pot of investments....

Here in America, personal savings are dwindling and consumer credit is rising.

Meaning that the party will be over soon...very soon.

There is a recession going on and a shrinking GDP during double digit inflation.

The stock market has been crashing hard and it appears that it's going to continue to do so.

Those who chose to retire made absolutely the worst choice possible...because the pain of shrinking savings and inflation has only just begun.

Entry level service Jobs are evaporating as people's disposable income evaporates. Even Taco Bell is in financial straights currently and they are making plans to close many of their stores. Even Hard Rock Cafe is closing restaurants. Houston did and others are slated to close soon.

People have this belief that they are going to be able to get a job when they want one later....even if it's a entry level position. Well those jobs are evaporating as we speak. Only ones left are high skill ones requiring experience and know how in specialized fields.

It's over....the fun is gone....the crying hasn't started but it's coming to your household and soon. Every industry is getting pounded....from aircraft manufacturers to telecom and software.

 

[Harpy Eagle]

Entry level service Jobs are evaporating as people's disposable income evaporates. Even Taco Bell is in financial straights currently and they are making plans to close many of their stores. Even Hard Rock Cafe is closing restaurants. Houston did and others are slated to close soon.

Hard Rock has been closing sites for a few years now. Their restaurants in Dallas and Phoenix and Hollywood all closed in 2019. Taco Bell has been in financial straights for years along with every other brand owned by Yum. My son's first job was at Pizza Hut and they screwed him out of a few pay checks and he recently got a tiny bit back from their bankruptcy settlement. Same holds true for a lot of chain restaurants, too many good local spots to waste your money at a chain.

It's over....the fun is gone....the crying hasn't started but it's coming to your household and soon. Every industry is getting pounded....from aircraft manufacturers to telecom and software.

A tad over the top there, but some of you just live in a constant state of fear.

 

[initforme]

Way over the top.

 

[JohnDB]

Hard Rock has been closing sites for a few years now. Their restaurants in Dallas and Phoenix and Hollywood all closed in 2019. Taco Bell has been in financial straights for years along with every other brand owned by Yum. My son's first job was at Pizza Hut and they screwed him out of a few pay checks and he recently got a tiny bit back from their bankruptcy settlement. Same holds true for a lot of chain restaurants, too many good local spots to waste your money at a chain.



A tad over the top there, but some of you just live in a constant state of fear.

No fear...just an expectation of difficult financial times ahead.

I'm an investor who plays the stock market. Right now the only play to make is shorting.

There are no long positions worth holding.
Currently I'm even. Most people I know are down 30-50%. Which should be a clue....conventional wisdom of the entire street is CRAP. (Which is what you are spouting)

I took a defensive position and a commodity position last summer (due to huge margin borrowing)...then late Fall to early winter dumped everything for cash and bonds. This is when people were still gung ho on tech stocks and other growth stocks. People were touting bitcoin, dogecoin, litecoin, and erethium like they were the best thing like sliced bread....

They all have lost half of their money or more.

I learned old school economics....while they were sleeping in class.

You can either do what nobody else is doing or you can be broke like everyone else. You choose. And by spouting as gospel the noise on the street...I know that you are broke and penniless.

 

[Mr Natural]

If you mean social security income then yes. Or for the time being at least.

Interesting.

 

[Harpy Eagle]

Way over the top.

For some odd reason some people get off on predicting doom and gloom all the time.

 

[Harpy Eagle]

No fear...just an expectation of difficult financial times ahead.

I'm an investor who plays the stock market. Right now the only play to make is shorting.

There are no long positions worth holding.
Currently I'm even. Most people I know are down 30-50%. Which should be a clue....conventional wisdom of the entire street is CRAP. (Which is what you are spouting)

I took a defensive position and a commodity position last summer (due to huge margin borrowing)...then late Fall to early winter dumped everything for cash and bonds. This is when people were still gung ho on tech stocks and other growth stocks. People were touting bitcoin, dogecoin, litecoin, and erethium like they were the best thing like sliced bread....

They all have lost half of their money or more.

I learned old school economics....while they were sleeping in class.

You can either do what nobody else is doing or you can be broke like everyone else. You choose. And by spouting as gospel the noise on the street...I know that you are broke and penniless.

Of course there are some long term positions worth holding, just silly to suggest otherwise. They always exist.

There is no money lost until you sell, seems you should know this.

Neither broke nor penniless, but I do not rely on the market for my income right now so nothing the market is doing has any actual impact on my life except for my 401k getting more shares for the same money and a few nice bargains I bought that I will sell when the time seems ripe.

 

[JohnDB]

For some odd reason some people get off on predicting doom and gloom all the time.

No...they don't.
I hated the conclusions I came to last summer about this year. I wished that tech stocks would continue to soar and that everything would be getting back to normal.
But because of the choices of this government, the market manipulation by a few and with the SEC being absolutely corrupt that we were heading for a disaster.

And guess what? The disaster is here.

And this time next year when you waddle out of your tent in the homeless camp to the local library to tell us how wonderful things are....

 

[Harpy Eagle]

I hated the conclusions I came to last summer about this year. I wished that tech stocks would continue to soar and that everything would be getting back to normal.

The stock markets crashing on a regular basis is normal, I would even argue it is a built in function.

And guess what? The disaster is here.

You do seem to be suffering.

And this time next year when you waddle out of your tent in the homeless camp to the local library to tell us how wonderful things are....

You and your doom and gloom. We will be fine this time next year. My wife has about the most recession proof job that exist and mine is more than secure. In Oct we will move into the house that it being built for us right now and this time next year we will be getting back from our 30th anniversary trip to Malta.

And you will still be running around yelling about the sky falling.

 

[JohnDB]

Of course there are some long term positions worth holding, just silly to suggest otherwise. They always exist.

There is no money lost until you sell, seems you should know this.

Neither broke nor penniless, but I do not rely on the market for my income right now so nothing the market is doing has any actual impact on my life except for my 401k getting more shares for the same money and a few nice bargains I bought that I will sell when the time seems ripe.

The value of your portfolio is almost gone....

Over half has evaporated. It's NOT coming back like you think it will. Time to realize it and invest in something else.

 

[JohnDB]

Energy transfer is in the bottom of a stair pattern. 8% dividends this past year and 5% growth....making for a hair over 13%/yr due to the tax break for dividends. (I use DRIP myself)