I love how they imagine middle class being able to take weekend vacations and fine dining and I'm thinking it's middle class to be able to afford necessities and simple experiences like the zoo or a play or carnivals.
Stop bullying your coworkers family friends for having OCD. Do not violently assault people for illness of the mind. They deserve medical treatment as much as anyone! Stop the stigma !
For me, my BS in chemical engineering allowed me to move from lower middle class to upper middle class. College degrees can make a big difference if you select the right major.
I must also add that I went to a public university in my state. I did take student loans, but they were kept to a minimum by this choice, working summers and working hard to keep my grades up which led to a full tuition scholarship. I also had offers to pay 100% of a masters degree if I had chosen that route. I still believe in the American dream if you choose wisely.
3400 per month mortgage. They bought too much house and weren’t ready. On top of that, they had a lot of debt to begin with. Gotta be smart about financial decisions.
They probably just live in an expensive area and don't make enough to live there. Their home doesn't look huge. The first guy pays $500 a month just for the HOA. That's almost as much as my mortgage.
That's actually cheap for many many parts of the country given the current interest rates. If I could get $3400 per month where I live, it would be the steal of the century
So researching their house they got it in 4/2022 so right in the height of insane mortgage rates, the house was listed for $499,000 and they purchased it for $553,000. So they offered $54,000 over asking price with a insane interest rate. It’s a 4 bedroom 3 bath 2,205 sq foot house with a semi finished basement, big deck with a hot tub. They really needed all this house for 2 people at the time and to offer 54k over asking…. They put them selves in this position 100%!
Why did they buy such a giant house? I don’t get it. The size of their dining room table is absurd. A family of 3 or 4 doesn’t need all that space. They did this to themselves.
Yea similar thoughts here. The house looks... grand. For 2 adults and an infant...$3400... but you're down to your last $400? They need an apartment. These are not sound decisions and it detracts from the reporting's message/point here.
They want to keep up with the Joneses. A lot of Americans just want to live off of debt and want that shiny new Yukon in the driveway. And the wife wants a Grand Cherokee too Don't forget that. That might be the kind of shit you have to wait until you're an empty nester to own but nope too many Americans want to live for the moment and then complain and then LARP as being some hardscrabble working class lunch pail people when in reality they probably spend 60 bucks a day on lunch and 20 to 30 a day for their daily Starbucks fix. I have a hard time having a lot of sympathy for these kind of people because I actually do live within my means and I grew up very poor so I'm very thankful to have even what I have. I grew up on EBT and WIC raised by a single mother. I ended up doing 7 years in prison and I came home and got my commercial driver's license and now drive a truck which I've been doing almost 3 years now and I've saved up a down payment for a home. I know the market is a mess right now so I just re-upped for another year at my apartment and I'm going to plan my next step wisely. I was itching to get a new mustang but for the time being im content driving my 2013 Malibu that's still runs great. Another thing is a lot of Americans think they're too good to get into some sort of trade. The trades paid very well and actually better than ever because nobody wants to do them. Everybody wants to be some sort of creative, or project manager, etc. Everyone acts like it would be shameful to be a plumber, electrician, Carpenter, etc. I know a lot of guys like that who have etched out a nice little life for themselves. Even ladies who went and got their plumbing certifications and are making in the '70s and '80s a year to start.
Right they could get a two bedroom apartment for half maybe even a third of the price. Just live like that for a little while until they catch up on their debt. They could both have moderately new cars maybe a couple years old. Live comfortable probably go on vacations still and you wouldn't even have to live in a bad neighborhood. But nope they got to have it now before they're probably even in their 30s. I know so many people who went to college and complain about their college debt and how they're not making enough money for all their effort but still somehow go on several thousand dollar vacations every year and have maybe 1 to 2-year-old SUVs in the driveway and designer purses.
Right!?! I have a 1,000 sq foot 1920’s craftsman and we have 2 adults a kiddo and a Newfoundland, a Shih Tzu and a cat. Their house is alot of house for who is there!
it depends what job though; although im surprised because the underwriter should make decent amount 6 figure plus but that $3k mortgage is a killer, they should not have gotten a new house like that.
So I lived in a trailer park and drove a beater so that I could get my student loan paid off. Look at these people, and how they live! I don’t feel sorry for them.
@@prettylyricsmarie Double major Computer Information Systems and Business Admin from one private college and MS in IT Management from another. Very expensive, looking back, could have picked a cheaper state college, but I didn’t want to move far from my mom. My dad died when I was a senior in high school and left my mom with very little. I was on my own to pay for college. There’s no shame in living within your means, though you are trying hard to shame me with your reply. I lived like the broke person I was. I happily moved out of that trailer debt-free and into my first home with a hefty down payment. I’d do it all over again. Now I live on five acres in a nice 3000 sq ft home and I’m proud of that and my humble beginnings. I will never shame somebody for living in a trailer. I started with less than nothing and didn’t have many choices. It sounds like you have more privilege than I do, Miss Pretty Marie… we all have a story to tell.
@@prettylyricsmarie It looks like my first reply was deleted. My major doesn’t matter. I had $60K in student loan debt upon graduation with interest starting six months later. That is overwhelming. The cheaper i lived, the bigger the payments could be. So, nice trying to shame me but I’m proud of knowing enough to live beneath my means for a few years and leave all that debt behind me. And if you must know, it was a double major in Computer information systems and business and an MS in IT management. 100% worth the investment and sacrifice.
@@tmusa2002Its great that you were able to manage that, but there was a time in this country where right after college you could get a decent salary and get a decent house. Be encouraging people to live how you live we as the middle class majority say to the corporate oligarchs, banks, politicians etc that we are fine living this way. Ideally, while what u managed was great you shouldnt have had to do that!
If we could get our politicians to do an ‘Undercover Boss’ series, that would be great. Just so they would understand reality instead of swallowing whatever lobbyists throw at them.
Right. CNN idea of a struggling family is people who's mortgage is more than an actual struggling families whole monthly income. Those people can't afford a $4,000 a month mortgage and addition to having a couple new cars, probably going on vacations every year, and getting new outfits every couple months. I really hate what the upper middle class's idea of a struggling family is. I grew up legit poor in Metro Detroit and have lived in motels and two homeless shelters with my mom and siblings. We depended on churches for a couple years for Christmas presents, and for Xmas and Thanksgiving dinners. There are millions of people like that out there interview those kind of people. Not people whose car payment for one SUV is more than people I know rent.
Christ these people don't even know what middle class is. That home is very middle class and they think their borderline working-class people. Motherfuckers don't even know what class they're in. I hate when I see a couple that both have new Teslas and they have a half million dollar home in a gated community call themselves middle class lol. That last part I'm not even necessarily talking about these people but I've known people like that who have a household income of 250k and think they're just hard scrabble working-class people. The kind of people who Starbucks budget is what an actual working-class families rent would be.
The issue is when you have children you can't live in just any neighbor. I have children and due to wanting my children in a better school I rent an apartment in the neighborhood. Luckily my rent is only $1,800 which I can afford. If I were to try to buy a house in this neighborhood my payments would be $3,400 as well. At least they are building equity though and as long as they're getting yearly raises at some point they'll probably end up fine.
You seemed to have missed the entire point of this video. Did you watch it? The point is, millennials were told the same thing as previous generations: go to college. Who cares if you get student loan debt? The job you'll get after getting out will make it worth it. Reality is saying otherwise. You ignored that ENTIRE storyline to come up with your own conclusion! That takes talent!
@@dontbanmebrodontbanme5403Everyone is continuously bombarded with everyone else's thoughts on just about everything everyday. So what? That doesn't absolve people of their responsibility to use the grey matter between their ears. The "but they told me" excuse was played out even when it was brand new. It translates to "I'm a lemming. I didn't think. Well if these aren't the consequences of my own decisions."
@@dontbanmebrodontbanme5403do you really believe this? Common sense. Saying "go to college and you'll be successful" is the same tune as saying "get a job and you'll be rich". Would you believe the latter? If so I've got prime beach front property in Kansas to sell you 😅 if you can't figure out all degrees are not the same and don't know how to Google, then don't take debt at 17. I was a poor first gen American, now I'm 29, earn $120k, no debt, work from home. My bachelor's in engineering, which I googled before I selected it, was the reason why I'm not poor anymore.
I'm confused: how do people who have kitchen islands, shiny new stainless steel appliances, ceiling cannon lighting... plead/see themselves as less than middle class???
Exactly. Most people who truly are struggling to pay their bills live in older homes that don't even have room for an island. If you're in a newer home with a kitchen island and having a hard time financially, odds are you're living above means.
Nothing? My HOA, in the last 2 years has: Re-roofed all dwellings Painted all exterior of all dwellings New skylights RE-Piped with PEX all dwellings! Repaved all the streets in the neighborhood Gardeners are here 5 days a week This neighborhood was built in 1986 and looks like it was built yesterday! THAT'S what a good HOA will do for you if well managed
They want a house where they can feel safe. These people are entitled to that. A house is a house, at least they own it. It comes with being in a safe place. More valuable than living in some run down part of town.
John Desmond Heppolette truly appears to be knowledgeable in this field. After conducting a Google search of his full names, I thoroughly reviewed his web page, including his resume, and qualifications, which were truly impressive. I took the initiative to leave him a note and have booked a call session with him....
@@ecclairmayo4153 exactly very expensive choices, having a kid is very very expensive, I hope they won't get a dog as well with the cost of that and vets bills
@@tonyp314 I agree however if you can see the video the house is well above what a family of 2 adults and an infant requires. I do believe they would be able to find somewhere not paying $3400 a month. Most people can't afford that.
@@tonyp314I live in Southern California. When my wife and I decided to buy a house 5yrs ago, we opted for a cozy 3-bedroom house. Since both of us work, we qualified for a much bigger and more expensive house. However, we didn’t want to pour most of our budget into the mortgage. We preferred to have a cushion for occasional dining out and family vacations so we went with a smaller affordable house.
Exactly, I make 250k and my mortgage is 3,200. And I live 30 mins away from NYC. BE DISCIPLINED PEOPLE. Stay with in your means and get an education in a hard field and not basket weaving.
For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
People look down on trades jobs but my extended family for the last 4 generations has been able to avoid the student loan trap. We don't live like the upper class and we are in a much lower housing cost area than this couple. For us, having the income of an electrician and a heavy equip operator has kept the family clothed and fed and housed for 40 years.
While I fully support trade school as an option, it is also not a good fix long term. We are already having a shortage in healthcare from all levels. If very few people go to college, we will not have enough workforce in healthcare 10 years from now to support boomers, older gen x and millennials.
Exactly my father was a plumber foreman in the 70s until he retired and made more money than people with college degrees.im a merchant mariner and making more money than people with degrees today why get caught up in student loan debt
@@okigi-wo5zm Dude, that's a nonsense talking point, only a small portion of people graduate in gender studies and many go on to work as Lawyers, & judges, magistrates, & other judicial workers.
I can’t tell you how many times I told friends not to take out loans for graduate degrees. I finished my masters with zero debt now I’m in a fully funded PhD program. I will never take out a loan for school.
Yes! I worked for Sallie Mae and saw firsthand how student loans affect people. None of my children started their independent life out with accumulated debt.
Me and you both brother. But we're just some lowly truck drivers. People like this think it's shameful to do a job where you don't wear a suit and tie and you might sweat a little bit. You would rather go to school for 4 years and owe hundreds of thousands of dollars and also have several thousand dollar mortgages. And need to have brand new SUVs and $500 a month Starbucks budgets before they're even 30. Forget the $5,000 vacations every year so people on social media can see they're doing well.
Wife & I both College Grads. Never made more than 60K each. Were 53yrold. We both drive Semi fuel truck delivering fuel to gas stations. Each make around 100K. Yeah, so there's that...
wish i was you. i had $15k of my own money saved from summer jobs when i graduated highschool and i wish i had just kept working and saving. college was the biggest mistake of my life... drowning in debt. its hopeless and crippiling.
My mom has this saying. "Don't be house poor" Which unfortunately that couple is. Living just to pay off their mortgage, daycare and other monthly costs. We live in a society where wages have not kept pace with cost of living. Until that changes (probably never), you truly have live within your means and stop chasing these ideals of what we are supposed to have at a certain age.
@@darlingcorinne someone always has an excuse. Don’t live in that particular urban area. There are other urban areas. Move one town over. Move to a lower class area. Move to the country and work on a farm. Or stay where you are and pay people to tell you what to do with your property while giving you nothing more than a community mailbox and a playground.
@RM-nm3xn as I said. Pay someone to tell you what to do with your property. If I want to build a deck on land I own who are you to tell me I can’t. If my pool floods your basement sue for damages. Otherwise nobody is going to tell me I can’t have a pool even above ground because you might be afraid that it might rupture and it might flood the basement you might have. That’s a mighty lot to demand of someone that I for one won’t tolerate.
exactly...and most boomers did not have first houses that were that huge and that nice...sorry she has a bit of entitlement and thats her first problem
Assuming 3k is mortgage, their income should be multiplied by 3. That's 9k give or take a month. Minus 20% off the bat for taxes. That's $7200. Minus 3k in mortgage =$4,200. Now minus 2 to 3 car payments at $750ea. & minus $140 for insurance ea. ($2,670) you're left with = $1,530 . -$500 on food = $1,000 . $200 for gas ea car ($600)= $400 left. You still need phone bills, car expenses, cc payments etc.. it's definitely lower middle class
With no savings and a mere $500 left monthly after bills, their combined income of under $100,000 places them squarely in the lower middle class, despite being a dual-income family.
It’s time to hold the colleges accountable. They are selling worthless degrees with no accountability. THAT needs to stop. Harvard has $55 Billion in the bank. Cash. They’ve reduced the value of their degrees but still increasing their endowment.
In my book, both are liable. When I didn't really know what I wanted, I left school. Family lost their absolute shit. Why pay for a piece of paper if there's nothing behind it? The degrees should be available but nobody should be looking at them as meal tickets.
Harvard is FREE for those with limited resources! By the way, if one goes to college and major in a subject that doesn't pay well, one should not complain!
I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
I opened an online high-yield savings account with 5.12863% interest compounded daily, expecting to get $2,500 in interest on my initial $50,000 at the end of the month. Instead, I only received $420. When I inquired, I was told the interest is calculated daily, which was not clearly stated on the website. My partner advised me to divert into stocks through an advisor, and in just six months, I achieved over 80% capital growth, excluding dividends. Highly recommended!
Pls how can i meet this advis0r? i want someone to help me invest my divorce settlement, It's just being laying around in the bank without much interest.
Melissa Jean Talingdan is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment. She’s really good
My licenced advisor of choice is Melissa Jean Talingdan. Just look up the name. In order to schedule an appointment, you would locate the required information. She is quite talented.
People are buying and financing the most expensive things so they look successful and then being surprised it actually costs real money and not a dream to have it.
People need to look at the 1200 square foot house instead of the 2500 square foot home. Start to differentiate between want and needs.. Be appreciative of what you do have ! The time to keep up with the Jones’s is over.
And a Charger in the driveway, a brand new baby and a large dog. All of this and they havent paid off their student loans yet, but they buy a more than half million dollar house and wrap it in Christmas lights even though they have less than $400 in their bank account..like they have extra money on utilities or something 😐
They need to buy a house, so they’re kids can live somewhere, and they’re in a safe environment, where they don’t get robbed or killed. An investment in safety is still a sound investment.
@@markushaahr9194 And that is what makes them middle class. Some of us raised our kids living in apartments in bad neighborhoods because it was all we could afford and did not spend money we didn't have.
@@markushaahr9194Need to buy a house? No, apartments exist. Definitely not a need, I grew up in apartments and felt safer actually since it’s so locked down and there are people all around in such a tight building.
I'm generation X and retired, here's my advice. I studied my ass off in high school and graduated at the top of my class. I did extremely well on my SAT. I graduated from a top 20 college with a degree in accounting. If I had to do it all over again, I would've skipped college and learned a trade - electrician, plumber, welder, et cetera. The kids who graduated dead last in high school and learned trades actually ended up wealthier than the kids who went to college.
its always looking back this looking back that. our parents did the same thing to us. doesnt work well now. main reason is cause change is happening too fast
Except after 25 years their bodies are broken, with 25 years left to work. My advice is to learn a trade, then get a degree in something management related. Business, organizational leadership, communication, or psychology. This way you transition into management, quality assurance, safety, or some other industrial office position as someone with floor-level experience. I make 37.00/hr in the south, but my supervisors are making 50.00/hr, with a moderate amount of overtime on top of that. I'll be starting a master's program this summer for that reason. I just wish I had done it earlier.
I've seen that too, but also I've seen plenty of folks in trades who burn through their cash as soon as they get it. Making money is one thing. Holding on to it is another.
I had to stop when I heard that. JFC That home purchase was not wise. But I guess what were their options - Just rent and hope the housing bubble popped at an opportune time?
You know a 600,000 mortage would be around 6,300 a month they didn’t put houses that cost at much. The average house cost 400k these people look like the took out a 320k loan and that’s the payments with the mortage rates so high. Not everyone can buy a 900k house or would even come close to qualifying
When you own a house, you don’t just pay the mortgage. You pay for the land itself in property taxes and water bills from the state. That’s on top of the essential bills you pay for and groceries.
True. My actual mortgage payment is only 1/7 of what I pay each month for a bundle of mortgage + interest + homeowners insurance + property taxes. On top of that payment is paying water/trash, gas/heat, energy/power.
How in the world could those two with the baby didn’t see $3,400 a month mortgage payment as a potentially stupid thing to do is astonishing. I get people struggle but they put themselves in that situation. Sell the house, get a 2 bedroom apartment and save. Just borderline moronic to live that way and feel you have the right to complain about it.
Exactly, people make their own beds and then cry about it. I made my own bed plenty of times through life, luckily I got smarter in my 50s and now debt free, retired and investing money.
As a Late baby boomer. The one mistake people of my generation made was over pushing college on to our kids. I think there is a sort of degree inflation. There are also degrees not worth going deep in debt for. You have look at ROI in which field you plant to study.
Struggling Millennial homeowner: I got a worthless degree and found out the hard way that it is not the 1960s anymore and just having any old degree is enough. You now need a degree that actually prepares you for specific careers/jobs.
@@ricksanchezsflask8794 Not really..until the 70s or 80s, you COULD get a philosophy degree and still get a decent professional job. Maybe not a GREAT one, but more than enough to take care of yourself. Employers didn't have 995 of their applicants with degrees back then, so having any showed you at least tried beyond high school. But now? Nope. Your degree better have a specific job associated with it. Or it won't matter how far you go. A Ph. D in a liberal arts major won't get you shit but $300,000 in student loans. But you can go to a community college for a smartly chosen Associate in Science Degree and be able to pay off any loans you might have within 2 years with a good job you will get.
@@ricksanchezsflask8794meh, in post ww2 you could leave the army, become a trucker, and buy a house for 4 kids and a wife. Without a degree. In the 60s, you could get a degree in Shakespeare and get a job at a factory.
It is their fault, they are just too entitled, lavish spenders vis a vis income and debt load, the house too big, gadgets everywhere and who knows what else.....
Of course too big of a house, too much of a car, and too many adult toys have nothing to do with their troubles. Result of buying what you want, instead of what you can afford.
I think that’s the point. They look like they have everything on the outside but they actually don’t. They can’t afford to live if one of them loses their job. That means no emergency fund. Big house doesn’t equal financial maturity and responsibility. It just means you have a big house…..
Yeah. 1 child. It’s shameful. An American should have at least 3 children. How can people be ok with this. This is going to be a collapse not so far from now. Weak generations not raising kids.
They should have done this with a minority. Banks are making the most money from us with the interest when it comes to student loans. This family here is doing fine.
Some places that’s a 1200sq foot home. Just because it’s $3400 doesn’t mean anything. they also probably didn’t put down 20% which just drives the monthly payment up + PMI.
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through a CFP, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation
I definitely share your sentiment about these firms. Finding financial advisors like Joseph Nick Cahill who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them
You can never predict when you can afford anything anymore, not in the new US. You can lose everything no matter how good of decisions you make. Too much rapid and unpredictable change. Corrupt politicians, Rapid AI advances never thought possible, insane housing and interest rate hikes, and a job market that went from good to near impossible in a very short time.
My kids went to community college first. Most teens don't know what they want to do. I wanted to go into medicine and academia,bwhich is what I did. However, everyone is different. It can take years to finally figure out what you want to do in life. I think community college helps with that, with out burdening young adults with student loans. I wish everyone success in their positive endeavors! Take care!🙂👋🏽👨🏽⚕️
I totally agree with you. My son is also coming to community college. It is so much cheaper. When he started he didn't know what to major in and I told him just do general studies. It took him about six months to decide what he wanted to major in after he started CC. Before he started he had thought about getting a trade but changed his mind. I think getting a trade is a good decision also. A lot of those jobs down here in lower Alabama pay really good. 😊
I did this too. I graduated with less than $20K in debt after transferring to a private 4-yr. Unless you’re getting a full ride or close to it, I don’t understand why anyone would go straight to 4-yr from high school to major in something like History, Art or Comm Studies. Most schools offer an array of useful and useless degrees, so you have to research the ROI before committing to decades of student loan debt. Many older millennials didn’t know this, so I’m hoping Gen Z and Alpha learn from our mistakes.
Why are people shocked that they can't get rich with a history degree? Much of their struggles are on them. Demand for history majors has remained pretty constant throughout history at just over zero.
Also, who works for a non-profit and then has nerve to complain that they're lower middle class. Altruistic jobs are honorable but should be pursued by folks who are past the building phase of life. Those jobs are better for folks who could retire if they wanted to.
Herodotus, the first known historian, claimed that the path to riches involved going to India and robbing giant man eating ants of their fortune. Notably, he did not recommend that anyone become a historian.
I graduated high school with a 4+ gpa and a 30+ ACT score. Instead of going to an expensive Top-tier college, I applied for a bunch of scholarships and went for free to my in-state university. I only had to take out loans for my medical degree, and even that was discounted because of scholarships and in-status. No one should ever go private or out-of-state for college unless they have a scholarship. College can be free if you're willing to put in the work.
unfortunately nobody really tells you about this and schools don’t educate students enough about these things they just push them to go to university bc it’s more profitable for them
They thought the dream house should be the first house which was a mistake. We lived in an 850 sq ft house with our son for years just fine, since we came from a 500 sq ft apartment in San Francisco when our kid was born. We may never live in a 2000 sq ft house but that not even close to being a worry for us.
That's one of the big differences with young people today. They feel they should be entitled to a certain standard of living immediately after completing their degrees. In their defense though new construction of the traditional "starter" home really doesn't exist in most markets anymore and supply on the resale side is often snapped up by investors. I do agree though, they are basically just looking at things without being realistic and taking into consideration how compromises, saving, and moving slowly up the ladder are required. Gen X reached adulthood with a much greater understanding of all that. It's life, not a hayride.
My rock solid advice... avoid student loan debt. Second advice, find a job that appreciates your skill and its level of it. Work on getting certifications and trades. That even includes getting a CDL for example. Always go where you're skills appreciated. Companies will pay for your education and certification if they need it! Avoid any kind of debt besides car and a place to stay. Don't ever let anybody sell you a dream. That's my personal advice as a millennial.
I joined the military (National Guard) to avoid student loan debt. Also got a high level security clearance out of it. I was able to get into the private defense sector after graduation and now make over a little over 150k in a MCOL area, less than an hour from my hometown. The best kept secret in the defense industry is that it’s cheaper for a company to hire and train you, than it is for them to sponsor a qualified person for a clearance. I only just turned 25, and a few years ago I would have told you that I may have made a mistake going the route I did, but now I’m so glad I did. It was hard watching my HS friends enjoy themselves in college, but now they have to grapple with their debt, while I’ve been able to move on with my life.
Student loans are fine as long as you consider your salary post grad and have a plan to pay it. The problem is people taking out $150K in loans to get a degree that has no prospects. They're treating college as entertainment, not a means to an end.
Their mortgage payment is over 3,000. a month and they feel like they are below middle class??? The average median mortgage payment last year was just over 1,600. a month. Maybe the economy isn't the only problem here. The average person buys a house twice a big as there parents had also. The big fancy houses from our childhood is the average suburban house now.
@halfwayempty 1600 is the average median mortgage payment. Sure it may be higher in places and lower in other. I'm just saying that house looked pretty nice and they said they don't feel like they are in middle class. That sure didn't look like a typical house of a family living below middle class.
They may have bought the house years ago. But, now with inflation, it eats up the money they have. We need more details to come to a conclusion. But, nevertheless. Economists say you need to make at least $120,000 to afford living.@@chrisquinn394
this BS is alarming always from corporate medias. Prices are too high. With rates not subsidised in ’24 and mortgage still high , currently seeking alternatives to maximise savings without an RV move or taking a loan. I’m seriously contemplating the latter.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
Not all people have the financial education of what you're referring too. This is why the nation is in the mess it is in. Before judging, let's understand not everyone knows what others know.
As a Millennial myself, who is not struggling, I am fortunate to survive in this economy, but I look at other Millennials and see that that they don't have it as easy as I do. The financial pain is still hurting most folks and very real.
@@oldcrowtj4937 Leaving aside the irony of conservatives saying "Vote Red", you seem unaware that the economic pain many peopel are feeling has been getting worse since the Reagan revolution
@@oldcrowtj4937 I would, but their priorities are out of wack. They're too busy keeping President Biden from getting a political win, banning "pornographic" dictionaries and protecting Donald Trump from the law to help people financially. Their M.O. is to bankrupt America and make themselves rich at the American public's expense.
@@jockyoung4491Actually President Regan saved our nation from Jimmy carters record inflation, de industrialization, over regulation and won the Cold War.
I bought a house in Las Vegas back in 2011, 30 year mortgage. Paid it off in 9 1/2 years, made double payments, sometimes triple payments every month, I had to learn to do without things. It’s been a couple of years since the house was paid off now I have more money to invest. I financed it for 108,000k… now valued over 400,000k. You really don’t need a college degree to achieve your goals…
exactly you have to make sacrifices. I paid in more too. Paid off my mortgage. Chose a small property in the countryside with good public transport and cycling access. Never had kids because I never wanted them, I walk and cycle, don't have a car anymore. I love my life. My hobbies are simple and cheap
Correct, but your work ethic and mindset shows that with a college degree, you probably could have opened even more doors for yourself than those who are blaming the degree as if the degree was supposed to open doors for them. The degree never gets you the job, makes you rich, or teaches you much of anything that will be utilized on a day to day basis at any job. It is up to the individual to leverage the degree when they need a leg up - e.g. applying to the same role or promotion against a very comparable candidate who does not have a degree, or getting called for an interview for a managerial role vs another candidate who has the same experience but doesn't have the degree. The degree itself should never be expected to just earn you money. Just like getting a piece of paper that says 'yoga instructor certification' doesn't get you the job if you have 0 experience, have no interpersonal skills, or look totally out of shape.
At a certain point its just sending applications into a void so wouldn't make a difference. What he needs to do is figure what job he wants to do and tailor the resume to the job application
@@anthonyfaucy2761To be perfectly fair I don’t think this guy is trying. Sorry but even to tailor your resume doesn’t take that much time and he claims he’s getting interviews. So either he sucks at interviews or as I kind of suspect he gives off a lot of red flags.
I got an Associates in Medical Billing and Coding at a Technical College. I then obtained my CPC that summer. Technical or trade would be the best bet anymore. I make 75,000 a year as a Senior Medical Coder. Didn’t start like that but found a job with a foot in the door.
If they didnt buy a house they'll be made to give the extra $$ to the IRS come 4/15. Houses are a great write off. Unfortunately corporations got together in 2020-2021 to outbid every potential buyer. A house went on the market, a buyer offered fill price the corporations would outbid them by 50-100k. Now they rent those homes for an outrageous amount. You're forced to buy more than you need, rent at an ungodly amount or pay the IRS bc you hv no write off. I think every bit of this was planned. It went like clock work. Covid, losing jobs, housing market was being taken over ( should hv been illegal) gas price increase causing food & merchandise to increase. Gas has gone down a bit but food /essentials didn't return to normal. It will get worse. I never see America being what it was. Opportunity to live in whatever style you chose. After marriage buying a house was just a given. Those days are gone.
We need skills not degrees. The problem is ai and CEO greed. The rich getting richer. Medical Bills need to be free. And education needs to be massively reduced.
I am an immigrant and I took my time getting my degree and graduated debt free. I paid as I went. My sister did the same, and our children, three of them, are professional college graduates, debt free. Why people take out loans and get into debt is beyond me. Work and pay as you go. What's the hurry? All thats waiting for you when you graduate is work, work,work, work, work, work... Enjoy college, and be active in school activities. That's a great part of being a young adult.
I worked full time through college. If I hadn't taken out loans, I wouldn't have been able to go. I made enough money to live on, not enough to also pay for school. To qualify for the grant I got, I also had to go to school full time. I could just do a class here and there (which costs more/hour in the end).
@@jenni8982 That is sound advice. Its terrible that college is so expensive. My niece became a nurse thanks to the college fund the state lets parents set up when a child is born. Then she manages to get an additional scholarship for books. Thankfully she is a nurse and has zero college debt. Everything is so expensive.
The whole point is that we’ve now lost the option to. People in societies need to have babies, otherwise, that society will crumble away to dust. People in the West aren’t having any babies, and is it any wonder? Nothing but weakness has been bred here.
Never thought I’d say this, but since becoming a new mom I decided I won’t be pushing my kid towards a 4 yr school either. It just seems crazy to saddle a teenager with that much debt as they’re entering adulthood.
A college degree is still one of the best ways to get a high paying job, but unfortunately it's even harder to get a job that degree promised. From my first job hunt last year, I saw how much experience and how large of a skill set employers are expecting for entry level, which is ridiculous. Entry level is 0-1 years of experience, usually straight out of college, and these employers are asking 3-5 years of experience with the skill set and knowledge that comes with that experience.
@@neverstop2493 Employers of white collar jobs want 3 to 5 years of experience for "entry-level" jobs. And now with AI the white collar job market is getting even tougher. We as a society need to value blue collar work more like we used to.
As a millennial myself, I have recently been coming to the realization that many things in my life I was told and, quite possibly, pushed into doing rather than being supported in my own choices. When I got a salary job, I wanted to start with an apartment; I’ve had a house for over 10 years that I feel I can rarely make necessary improvements. My feeling is parents have to stop dictating what they want for their children and simply provide the love and support for them to grow.
Stop looking backwards. You can't change the past. Start directing your own future and start taking responsibility for your choices. Blaming others attempts to absolve you of your role in where you are now. It prevents you from taking control/responsibility. Sell the house and rent an apartment. Let me guess, your parents helped you purchase the house.
No I'd say it's that things have changed since you were kids, which they couldn't predict. By the time you got grown, grown things switched up to where some of their advice doesn't work now a days. So now all of us are blindly making out a new way which will take maybe a generation or 2 to figure out. Then it'll change again. Esp with this artificial technology. 😔
When my husband and I had one child, we lived in a tiny one bedroom apartment. We didn’t buy our 1800sq ft townhouse until we had 2 kids and saved up for a few years. We bought 4 years ago. Now we have 3 kids and one on the way( we are religious) , we looked into a larger home, ran numbers and thought: nope! We will stay here until we have more money saved or interest rates go down. Getting into a large mortgage just doesn’t make sense. Our home is still comfortable and our children never go without. We have a lot of disposable income for extras and I truly believe it’s because we have no car debt, no consumer debt and a low mortgage. We also live right outside a major city. I’m always curious about people with super small families buying these large homes…..
Graduated as a RN after 4 years, worked in the field from 2015-2022. Barely made enough to scrape by unless I was willing to work 7 days a week instead of 6. After all the fixed costs in life there was not much left over. I didn't have a fancy car and had a 800sqft house. Left that for something with a better work life balance and making the same money. Just because a job is in high demand or important does not always mean it makes more money. Crazy world we live in nowadays.
I got my Associate Degree in nursing, the hospital paid for my Bachelor degree. I worked 2 jobs for ages, easy working three 12 hour sifts full time, still had 3 days off a week working an extra shift somewhere.
You're either living in a terrible city, living above your means, or have kids... Maybe all of the above. As a 32 yo RN with no kids I make a little over 70k a year and have MORE than enough money with a house paid off
@@Stargazzer811 Yea, I think the problem with a lot of RNs is they settle for a job. That's not the argument though, the argument is that you should be able to live comfortably on 60-90k a year or you're just stupid
@@Stargazzer811 Also, if you work bedside for 2+ years as an RN then you're insane and will probably hate your life. That should be experience to find a better job
😂 mine is less than half that and I could sell and make about $200K profit. I am considering buying an RV and getting rid of the house just because the future feels way too insecure to have even a $1600 mortgage like mine. Cash in the bank, investments, are more important because nothing is more important to me than having some cushioning should things go south. I’ve always been terrified of being homeless. Even more so now as I have children and the state of the economy is horrendous. The future has never been more uncertain. Banks OWN our houses til paid off and they can take them back any time they want! The government is pushing towards owning more houses than individuals do. Get real, people!!
I joined the military at 18. Completed an undergrad degree on active duty and used the GI Bill for grad school. After 15 years of working in the same STEM field I’m earning low six figures. I can now afford for my wife to be a SAHM which is what I’ve been working for my whole career. I own a home and work for the government. Life still isn’t easy, but it never was. Work hard, make good decisions and live within your means.
@@SUGAR_XYLER I hear you, but it feels great to protect and provide for your own family. Kids are a LOT of work, but I love every second of being with my son. Definitely a life that is not for the selfish.
The military is a great way to pursue education affordable and it is often overlooked by many in the public. Thank you for putting in the discussion and Thank you for your service!
One of the reasons many Americans are suffering is because they don't know much about financial education. There is a reason why they don't teach financial education in schools: they don't want people to wake up and pay attention to what's going on. This is how you can control the entire public.
This is our family. We live month to month. I have a part time job that I didn't need a degree to do. We tell our kids if they want to go to college to try to avoid debt, do collage as cheaply as possible. We encourage them to get a trade.
At one point, it was true that a college degree got you a ticket to a better job. But its not true anymore, its more like a passport in many cases. A college degree doesn't necessarily correlate with skills and productivity. With the internet, streaming videos, AI language models, and all sorts of resources, anyone anywhere can learn almost anything on their own. The younger generations are facing the challenges of automation and globalization more than ever.
$3400/mo mortgage payment is for a $500k+ home. They are not "lower-to-middle class". Just hearing them complain is so laughable when you consider the numbers they are working with. The real problem is the sense of entitlement!
Go to Zillow and look at the price of townhouses and condos in their town. Many of them cost more than they paid for that house. A similarly sized house is now around $700,000.
@@jenni8982thats fine but they do not have to live in a house that expensive. They can live more modestly and still be middle class, and live the American dream. The problem here is not that the system is against them. Its that they need to make better economic decisions.
@@deannab9511 If you go to college, get a useful degree. Otherwise, it's far better to learn a trade than to run up piles of debt to get a useless degree that won't lead to a lucrative career.
As an immigrant he is right, we are told to have the American dream you need to go to college. I did just that,got the career and it sucked. 7 years in, I decided I o figure out how to make my own money by taking risk. I quit my job, now I own two businesses with my husband and we go to work when we want, wake up when we want and travel when we want.
40 Years in Human Resources working for mostly Fortune 500 companies. Went to Community College. Took 2 years off to save for tuition for State College. NO LOANS. Started at the bottom of the ladder, always changed jobs after a couple of years, each time working my way up to executive level positions. After marriage we lived in apartments, first one was furnished with lawn chairs and snack tables. Drove used inexpensive cars. SAVED until we could put down a large down payment. Bought a house that was sufficient for our needs and improved it as time went on. You DO NOT have to start off on your own living at the standard of living you were accustomed to or desired to be at.
Kids now think that whatever standard of living they had at their parents place when they left is what they should move into. That is NEVER how things were.
Depending on your field and what you make of it, the available jobs when you graduate are often different from when you started school. It's very important to know how to adapt, learn, grow, and survive in any environment. College isn't for everyone. Some folks are better off with trade schools or certifications. And some "wise elders" are giving outdated advice that may have been true back in the day but not now.
I'm living basically in someone's attic and my health insurance, for the most part, doesn't even cover urgent care. I've been paying my student loans since 2017. I can't afford a car. I've held some really tough jobs and I've endured injuries at work. I live in poverty. I still owe about 70k from student loans. I started an LLC to make extra money but I'm still broke. Praying to God that things get better for myself and others. I just hope I can comfortably see a physician and buy groceries one day and live in a small place that I'm proud to call a home
I’m a millennial and still paying for a bachelor of Business degree with honors at age 40 and I became a single mother at age 17. It’s been a useless expense I’m still living with today meanwhile my daughter has since grown up. The struggle is still real. If I could do it all again?! I’d skip the degree.
Sorry sweetie you most likely voted for joe biden that's why you're struggling. I'm sorry the rest of the american taxpayer is not paying for your free ride through college. Especially when you probably came out knowing nothing, I Really do feel bad for you people. Especially the young couple trying to buy a house in joe biden's economy with high interest rates record inflation... How could this video say the economy is good my god... Gas prices grocery prices families paying $11000 more year under joe Biden Then they did with trump Buying The exact same products... You are struggles are because of high inflation not just school loan... I did not send my kids to college they are all doing great. I'm sorry I'm not paying for you parents mistake...
I think everyone ignores the skills they gain in acquiring your degree. You may feel college was useless, but your a more polished person with better communication skills. People with and without college degrees still make vastly different decisions in life. Just because it feels useless, doesn't mean it was. I'm not doing what I went to college for, but I speak better than any of my co workers who don't have a degree and I'm a far better problem solver. The bar to get a high school diploma is so low. Having worked with a lot of uneducated non college educated people, I miss working with people who have more than 2 brain cells.
As a childless (by choice) millennial who currently makes $65k/yr, didn't get a degree but had started college online in 2011 so I did still have student loans, and was lucky enough to be interested in IT, I had always browsed home listings for fun but never truly thought I would be able to buy a house. I still think there are a lot of MASSIVE changes that need to happen before it'll be feasible for me, but I also recognize I'm still in a privileged position.
I'm 42. Got an MA in religous studies and ph.d. in philosophy. First in my class. Taught for years as an adjunct. Salary very very low. I stopped eventually and looked outside academia. Now I work in a totally different field and make almost 3 times as much. Heart was broken cause I had to make this change after years of hard work, but now I can pay rent. Don't go to college if you don't have the money and a clear picture of your employment after
It’s the biggest scam ever on poor people. A Bachelors degree is almost the same an associate degree. Then you have to get all these certifications it’s the old baiting and switch.
Lower middle class and you live in a McMansion, people are so out of their minds, at least they get to keep up with the Jones’s with their massive home
At their age (way back in the late '70s), my wife and I and our baby girl lived in a two bedroom, one bath, 50 year old rancher with a 7% mortgage, working two jobs, driving two 10-year old cars, with a night out once every two weeks at a pizza parlor. It took me 7 years to get a 4 year degree, and my wife 5 years to get a 2 year degree, both of which we got while working full time and mostly by paying out of pocket (no school debt upon graduation). We were the first in both our families to even dream of going to college. We thought we were living the American middle class dream, and were grateful for having as much as we had. I don't get it.
Buy a house. Not a condo or something with an HOA. NOT sure if these people have cut cable or streaming services etc. But....STRUGGLING is not a BAD THING. Becoming comfortable & doing better than your parents doesn't come automatically. Struggling is temporary and can and will teach you if you let it. Said the 30 years married woman if 3. Patience Gertrude.
Yeah and be stuck doing maintenance himself or paying out the butt to have someone else do it. I grew up in a 2000 sq foot detached single family house in suburbia with a huge backyard that was fun when you’re a kid but not so much fun when you’re an adult and have to maintain it! Also, heating and cooling a home like that is a monster. My parents did it, but they also bought the house in 1997 for about $360k (according to tax records that I pulled up for it on Zillow), which of course my dad grumbled about as being “too expensive” back then. You want to know how much that house is worth today? About $700,000 and they sold it in 2014 after their divorce was finalized to an investment firm for about $500,000 (there was a leak in the hot water heater that had slowly seeped into the walls and led to a significant mold infestation that my parents did not have the extra money to fix and of course, it was discovered by the inspector after they had finished renovating the place to prep it for sale - understandably, people looking to buy a house don’t want to buy one with a major mold issue).
I don't know what to say...live within your means I guess. When I was first married, starting a family (Gen X), I never spent over 5k on a vehicle, my home was far from the nicest in the neighborhood. These folks have nice stuff. The gaming chair says it all.
They can’t see themselves, their lack of appreciation is flabbergasting. They are young. They think they are poor. They just don’t realize they chose that, and they don’t see how their education probably helped them. In time, they will build up, they are young and worried. Life.
If you are studying a STEM field , going to medical school, becoming an actuary , software engineer , top law school, attending a TARGET business school. You can be looking at a great return in your investment. If you don’t know what a target school is , Wall Street usually only hires from target schools. Graduate school loans to work at a non profit sounds like a horrible idea
People w/ non-STEM degrees are doing just fine. Stop spreading that BS misinformation. Having degrees in [WHATEVER THE HELL IT IS HERE] is way better than not having one at all.
I know people with stem degrees struggling to buy houses and pay for childcare. A lot of tech jobs are concentrated in big cities with high costs of living.
@@cindy3933 in those high cost of living cities you are either doing well or struggling. There is no middle class. The ones doing well are almost all college graduates with specialized skills or training. Average actuarial fellow salary + bonus $210k, Internal medicine hospitalist + bonus $260k . Invasive cardiologist +Bonus $500k General counsel + bonus $527k FAANG senior software + bonus + stock( Google senior SDE $330k /Google L7 swe $1million). Most of the FAANG software engineers making $350k+ come from places like MIT, Tsinghua University, CMU, Waterloo, Stanford etc. if you have the intelligence and drive to get a CS degree from a school like that you can do well. CS degree from West Idaho university will be a lot harder. Some college degrees lead to lucrative careers MOST do not.
@cindy3933 in those high cost of living cities you are either doing well or struggling. There is no middle class. The ones doing well are almost all college graduates with specialized skills or training. Average actuarial fellow salary + bonus $210k, Internal medicine hospitalist + bonus $260k . Invasive cardiologist +Bonus $500k General counsel + bonus $527k FAANG senior software + bonus + stock( Google senior SDE $330k /Google L7 swe $1million). Most of the FAANG software engineers making $350k+ come from places like MIT, Tsinghua University, CMU, Waterloo, Stanford etc. if you have the intelligence and drive to get a CS degree from a school like that you can do well. CS degree from West Idaho university will be a lot harder. Some college degrees lead to lucrative careers MOST do not.
I got a degree in Poetry for 400K, had a child and bought a 1/2 million home with a hot tub while making Tic Tick videos and I just can't make it!! Can someone please help me?
One thing I've learned, when it comes to getting a degree, it's just one ingredient, you are responsible for managing your career not the company or organization you work for. I worked the entire time I was in college so I learned this before graduating while my friends were full-time students found it very difficult to enter the workforce after graduation so they opted to get advanced degrees which I think is a waste unless you are following a specific career track thats guaranteed returns. I think in lieu of a 4 year degree young people should opt for 2 year technical or trade certification programs those seem to yield the better paying jobs without leaving you with debt.
A funny thing I found out in early life. Right out of high school I started working at a call center. 10$ an hour. And on the same floor we had medical professionals of many types. Lawyers and career truck drivers with every certification in the book. People who spoke 5 language's. All working the same Garbage 10$ an hour job i was. I am glad for every lesson i learnt there. The biggest being that the only guarantee of sucess you will ever get. Is the one made of your own two hands. Of your own hard work.
I learned similarly in my first retail role. Mid-age people with degrees hanging on the wall, doing the same exact management+sales work I was doing as an inexperienced 22 year old sans degree. Was already iffy on the higher ed system, and that really drilled it in: not to pay for a degree just to end up in the same place. It is up to us.
All I hear is people way more fortunate than most complaining about how bad they have it when they put themselves in that situation. The first guy has student loans, then decided to get married, purchase a ridiculous house at a time of insanely overpriced housing, then decided to go out and take on more debt by going back to school. So he has to work 3 jobs, boohoo, some people can't even get a single job in this market.. and STOP using the word poverty, my God, you are far from impoverished. The second couple seems largely the same, only they decided to have a child on top, so add childcare to the list of expenses. And the wife works at a freaking NPO.
Exactly. I own my house which was an old craftsman I bought and fixed up. I’m a debt counselor and these are the people I stay away from. They never want to sacrifice but they want me to look and help them find an extra 400 to 600 bucks so they can continue to keep up their lifestyle.
I'm often amazed at how many rudderless children there are entering college. Futures planned out by their parents as far as heading to college goes, but no plan as what they want to be when they grow up. Lots of unexercised degrees out there judging by the numbers of baristas I know with them.
Because this world doesn’t need researchers, music teachers, psychologists, historians, anthropologists, linguists, or journalists No thinkers; counters, ONLY
I applied to 400 jobs between 2017-18 and had many interviews. I finally got something then rapidly doubled my income. I had been a stay-at-home mom and had a big gap. 100 isn’t nearly enough.
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Leave it to corporate media to interview people "struggling" in the four bedroom three bath house they were able to buy.
Great point 😆
😂😂 thats why the homeless population is screwed bc the definition of poverty is not even realistic
I love how they imagine middle class being able to take weekend vacations and fine dining and I'm thinking it's middle class to be able to afford necessities and simple experiences like the zoo or a play or carnivals.
Stop bullying your coworkers family friends for having OCD. Do not violently assault people for illness of the mind. They deserve medical treatment as much as anyone! Stop the stigma !
@@kaelahendricks6039 I was saying this to myself as I was scrolling down the comments.
For me, my BS in chemical engineering allowed me to move from lower middle class to upper middle class. College degrees can make a big difference if you select the right major.
Yes! Select the right major.
I must also add that I went to a public university in my state. I did take student loans, but they were kept to a minimum by this choice, working summers and working hard to keep my grades up which led to a full tuition scholarship. I also had offers to pay 100% of a masters degree if I had chosen that route. I still believe in the American dream if you choose wisely.
Definitely. It's all about understanding your career path.
Ima community organizer.
My communities are getting worse bc of racism
Birthing ppl
Trans rights
Patriarchal injustice.
Educated
@@JB-lp9xrI have a queen studies degree..
U are racist.
3400 per month mortgage. They bought too much house and weren’t ready. On top of that, they had a lot of debt to begin with. Gotta be smart about financial decisions.
They probably just live in an expensive area and don't make enough to live there. Their home doesn't look huge. The first guy pays $500 a month just for the HOA. That's almost as much as my mortgage.
When they mentioned poverty I laughed out loud. They are not impoverished they're idiots living beyond their means.
yes just wasn't smart decision - they may have needed to buy something smaller or move to another place for a 1200 month mortgage for example
💯💯💯💯💯
@@reefreptile My grandfather used to call it Caviar taste on a Peanut Butter and Jelly Salary!! :)
$3400 mortgage payment? There has to be some accountability.
and a kid too
Yeah get to work
that is ridiculous. I could 't even keep a steady job when I was working.
Is that a monthly repayment?
That's actually cheap for many many parts of the country given the current interest rates. If I could get $3400 per month where I live, it would be the steal of the century
So researching their house they got it in 4/2022 so right in the height of insane mortgage rates, the house was listed for $499,000 and they purchased it for $553,000. So they offered $54,000 over asking price with a insane interest rate. It’s a 4 bedroom 3 bath 2,205 sq foot house with a semi finished basement, big deck with a hot tub. They really needed all this house for 2 people at the time and to offer 54k over asking…. They put them selves in this position 100%!
Lower middle class😅
@@secretsquirrel6718yeah no kidding! This make me low lower class if they think they are lower middle class with my 1000sq foot 1920’s craftsman lol
Thanks for researching it. They seem a bit clueless about managing their finances.
@@chessdad182this is what I love to do. Research and call people out on their bs
You really dug deep for this one 😂😭🤣....but I gotta give it to ya, you make a valid point.
Why did they buy such a giant house? I don’t get it. The size of their dining room table is absurd. A family of 3 or 4 doesn’t need all that space. They did this to themselves.
Yea similar thoughts here. The house looks... grand. For 2 adults and an infant...$3400... but you're down to your last $400? They need an apartment. These are not sound decisions and it detracts from the reporting's message/point here.
Exactly. The real story here is, "people living absurdly among their means, and blaming the system...."
They want to keep up with the Joneses. A lot of Americans just want to live off of debt and want that shiny new Yukon in the driveway. And the wife wants a Grand Cherokee too Don't forget that.
That might be the kind of shit you have to wait until you're an empty nester to own but nope too many Americans want to live for the moment and then complain and then LARP as being some hardscrabble working class lunch pail people when in reality they probably spend 60 bucks a day on lunch and 20 to 30 a day for their daily Starbucks fix.
I have a hard time having a lot of sympathy for these kind of people because I actually do live within my means and I grew up very poor so I'm very thankful to have even what I have.
I grew up on EBT and WIC raised by a single mother.
I ended up doing 7 years in prison and I came home and got my commercial driver's license and now drive a truck which I've been doing almost 3 years now and I've saved up a down payment for a home.
I know the market is a mess right now so I just re-upped for another year at my apartment and I'm going to plan my next step wisely.
I was itching to get a new mustang but for the time being im content driving my 2013 Malibu that's still runs great.
Another thing is a lot of Americans think they're too good to get into some sort of trade. The trades paid very well and actually better than ever because nobody wants to do them.
Everybody wants to be some sort of creative, or project manager, etc.
Everyone acts like it would be shameful to be a plumber, electrician, Carpenter, etc.
I know a lot of guys like that who have etched out a nice little life for themselves. Even ladies who went and got their plumbing certifications and are making in the '70s and '80s a year to start.
Right they could get a two bedroom apartment for half maybe even a third of the price. Just live like that for a little while until they catch up on their debt. They could both have moderately new cars maybe a couple years old.
Live comfortable probably go on vacations still and you wouldn't even have to live in a bad neighborhood.
But nope they got to have it now before they're probably even in their 30s.
I know so many people who went to college and complain about their college debt and how they're not making enough money for all their effort but still somehow go on several thousand dollar vacations every year and have maybe 1 to 2-year-old SUVs in the driveway and designer purses.
Right!?! I have a 1,000 sq foot 1920’s craftsman and we have 2 adults a kiddo and a Newfoundland, a Shih Tzu and a cat. Their house is alot of house for who is there!
Unfortunately, going to college and then working at a nonprofit, as both of these cases have done, has never been a great path to financial security.
apparently they failed the reading and comprehension part of school because non profit is literally in the name lol.
it depends what job though; although im surprised because the underwriter should make decent amount 6 figure plus but that $3k mortgage is a killer, they should not have gotten a new house like that.
@@Big-Government-Is-The-Problem some non-profits pay pretty hefty 6-7 figure salaries to their executives. Look it up.
@@RobertEmeryyou said the key thing
...to their EXECUTIVES, which I would guess they are not, considering they are relatively young.
A job reading memos at CNN would have paid more as long as you stick to the script whether its true or not.
So I lived in a trailer park and drove a beater so that I could get my student loan paid off. Look at these people, and how they live! I don’t feel sorry for them.
What did you major in? That you needed a better and a trailer park home?
@@prettylyricsmarie Double major Computer Information Systems and Business Admin from one private college and MS in IT Management from another. Very expensive, looking back, could have picked a cheaper state college, but I didn’t want to move far from my mom. My dad died when I was a senior in high school and left my mom with very little. I was on my own to pay for college. There’s no shame in living within your means, though you are trying hard to shame me with your reply. I lived like the broke person I was. I happily moved out of that trailer debt-free and into my first home with a hefty down payment. I’d do it all over again. Now I live on five acres in a nice 3000 sq ft home and I’m proud of that and my humble beginnings. I will never shame somebody for living in a trailer. I started with less than nothing and didn’t have many choices. It sounds like you have more privilege than I do, Miss Pretty Marie… we all have a story to tell.
@@prettylyricsmarie It looks like my first reply was deleted. My major doesn’t matter. I had $60K in student loan debt upon graduation with interest starting six months later. That is overwhelming. The cheaper i lived, the bigger the payments could be. So, nice trying to shame me but I’m proud of knowing enough to live beneath my means for a few years and leave all that debt behind me. And if you must know, it was a double major in Computer information systems and business and an MS in IT management. 100% worth the investment and sacrifice.
@@tmusa2002Its great that you were able to manage that, but there was a time in this country where right after college you could get a decent salary and get a decent house. Be encouraging people to live how you live we as the middle class majority say to the corporate oligarchs, banks, politicians etc that we are fine living this way. Ideally, while what u managed was great you shouldnt have had to do that!
Would have been interesting to see they film an actually struggling family. There are plenty of them out there.
If we could get our politicians to do an ‘Undercover Boss’ series, that would be great. Just so they would understand reality instead of swallowing whatever lobbyists throw at them.
Right. CNN idea of a struggling family is people who's mortgage is more than an actual struggling families whole monthly income.
Those people can't afford a $4,000 a month mortgage and addition to having a couple new cars, probably going on vacations every year, and getting new outfits every couple months.
I really hate what the upper middle class's idea of a struggling family is.
I grew up legit poor in Metro Detroit and have lived in motels and two homeless shelters with my mom and siblings.
We depended on churches for a couple years for Christmas presents, and for Xmas and Thanksgiving dinners.
There are millions of people like that out there interview those kind of people.
Not people whose car payment for one SUV is more than people I know rent.
Christ these people don't even know what middle class is. That home is very middle class and they think their borderline working-class people.
Motherfuckers don't even know what class they're in.
I hate when I see a couple that both have new Teslas and they have a half million dollar home in a gated community call themselves middle class lol.
That last part I'm not even necessarily talking about these people but I've known people like that who have a household income of 250k and think they're just hard scrabble working-class people.
The kind of people who Starbucks budget is what an actual working-class families rent would be.
How does having children when you can't afford one help?
Exactly!
Perfect example of what is called, living beyond your means.
The issue is when you have children you can't live in just any neighbor. I have children and due to wanting my children in a better school I rent an apartment in the neighborhood. Luckily my rent is only $1,800 which I can afford. If I were to try to buy a house in this neighborhood my payments would be $3,400 as well. At least they are building equity though and as long as they're getting yearly raises at some point they'll probably end up fine.
This is what the elites want you to think
You seemed to have missed the entire point of this video. Did you watch it? The point is, millennials were told the same thing as previous generations: go to college. Who cares if you get student loan debt? The job you'll get after getting out will make it worth it. Reality is saying otherwise.
You ignored that ENTIRE storyline to come up with your own conclusion! That takes talent!
@@dontbanmebrodontbanme5403Everyone is continuously bombarded with everyone else's thoughts on just about everything everyday. So what? That doesn't absolve people of their responsibility to use the grey matter between their ears. The "but they told me" excuse was played out even when it was brand new. It translates to "I'm a lemming. I didn't think. Well if these aren't the consequences of my own decisions."
@@dontbanmebrodontbanme5403do you really believe this? Common sense. Saying "go to college and you'll be successful" is the same tune as saying "get a job and you'll be rich". Would you believe the latter? If so I've got prime beach front property in Kansas to sell you 😅 if you can't figure out all degrees are not the same and don't know how to Google, then don't take debt at 17. I was a poor first gen American, now I'm 29, earn $120k, no debt, work from home. My bachelor's in engineering, which I googled before I selected it, was the reason why I'm not poor anymore.
I'm confused: how do people who have kitchen islands, shiny new stainless steel appliances, ceiling cannon lighting... plead/see themselves as less than middle class???
I did not know a kitchen island was anything special
@@surlespasdondine - It does not come standard. It is extra. A luxury
Brand new might I add
Exactly. Most people who truly are struggling to pay their bills live in older homes that don't even have room for an island. If you're in a newer home with a kitchen island and having a hard time financially, odds are you're living above means.
It has never cost this much to have 1 house and 1 child in terms of average salary % and hours of payed labor that go into the mortgage.
$540 a month for HOA dude are you insane? You might as well burn that money every month. You are getting NOTHING for it.
My hoa is $375 which is nuts but my mortgage is just $800 so it's not horrible. Rent in my area is $2200 so I'd be homeless If I didn't own a home
That’s more than half of my rent
And that amount is on the lower side now
Nothing? My HOA, in the last 2 years has:
Re-roofed all dwellings
Painted all exterior of all dwellings
New skylights
RE-Piped with PEX all dwellings!
Repaved all the streets in the neighborhood
Gardeners are here 5 days a week
This neighborhood was built in 1986 and looks like it was built yesterday!
THAT'S what a good HOA will do for you if well managed
@@kendallevans4079 They did all this for free? Amazing.
Why do these people have a $3400 mortgage payment? They are largely where they are because of their desires. They want more than they can pay for.
So many costly decisions at one time. After buying a house they can't afford, they start a family and wonder why they are broke?
They want a house where they can feel safe. These people are entitled to that. A house is a house, at least they own it. It comes with being in a safe place. More valuable than living in some run down part of town.
John Desmond Heppolette truly appears to be knowledgeable in this field. After conducting a Google search of his full names, I thoroughly reviewed his web page, including his resume, and qualifications, which were truly impressive. I took the initiative to leave him a note and have booked a call session with him....
@@ecclairmayo4153 exactly very expensive choices, having a kid is very very expensive, I hope they won't get a dog as well with the cost of that and vets bills
I see the problem: $3,400 monthly mortgage payments. Live within your means. If you can’t afford a big expensive house, don’t get one.
exactly
@@tonyp314 I agree however if you can see the video the house is well above what a family of 2 adults and an infant requires. I do believe they would be able to find somewhere not paying $3400 a month. Most people can't afford that.
@@tonyp314I live in Southern California. When my wife and I decided to buy a house 5yrs ago, we opted for a cozy 3-bedroom house. Since both of us work, we qualified for a much bigger and more expensive house. However, we didn’t want to pour most of our budget into the mortgage. We preferred to have a cushion for occasional dining out and family vacations so we went with a smaller affordable house.
@@tonyp314it’s a $553,000 4 bedroom 3 bath. 2,000+ sq foot house. They got way more then they needed. They also offered 53k over the asking price
Exactly, I make 250k and my mortgage is 3,200. And I live 30 mins away from NYC. BE DISCIPLINED PEOPLE. Stay with in your means and get an education in a hard field and not basket weaving.
The only reason that couple felt like they were lower middle class is that they're trying to live like the upper middle class.
Some people do that and deserve it. But you can't assume that's what this family is doing. Have a little empathy
@@gabedarrett1301 I made no such assumption. They clearly bought a house they couldn't afford and seem to enjoy quite a few luxuries.
Look at his face. He obviously did not agree.
@@secretsquirrel6718 I didn't say he enjoyed paying for those luxuries, but they're far from lower middle class.
@@stephenhawkingsfootballboo7885 I didn't say you said that.
I just said he didn't agree with his wife when she did.
What video did you watch?
For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.
Just buy and invest in Gold or other reliable stock , the government has failed us and we cant keep living like this.
Yes, gold is a great investment and a good bet against the devaluating dollar, been holding some for awhile now, I’m grateful my adviser’s moment by moment changes in the market are lightening quick, cos who know how much losses I would’ve had by now.
Mind if I ask you to recommend this particular coach you using their service?
Just research the name Vivian Jean Wilhelm. You’d find necessary details to work with a correspondence to set up an appointment.
I just googled her and I'm really impressed with her credentials; I reached out to her since I need all the assistance I can get. I just scheduled a caII.
People look down on trades jobs but my extended family for the last 4 generations has been able to avoid the student loan trap. We don't live like the upper class and we are in a much lower housing cost area than this couple. For us, having the income of an electrician and a heavy equip operator has kept the family clothed and fed and housed for 40 years.
While I fully support trade school as an option, it is also not a good fix long term. We are already having a shortage in healthcare from all levels. If very few people go to college, we will not have enough workforce in healthcare 10 years from now to support boomers, older gen x and millennials.
Exactly my father was a plumber foreman in the 70s until he retired and made more money than people with college degrees.im a merchant mariner and making more money than people with degrees today why get caught up in student loan debt
As long as they don't major in gender studies.
And they are the backbone of America too. Blue collar workers don't get the recognition they deserve.
I am in the tech space.
@@okigi-wo5zm Dude, that's a nonsense talking point, only a small portion of people graduate in gender studies and many go on to work as Lawyers, & judges, magistrates, & other judicial workers.
I can’t tell you how many times I told friends not to take out loans for graduate degrees. I finished my masters with zero debt now I’m in a fully funded PhD program. I will never take out a loan for school.
Thank you. Scholarships for undergrad and grad so far and absolutely no student debt
Yes! I worked for Sallie Mae and saw firsthand how student loans affect people. None of my children started their independent life out with accumulated debt.
Meh, depends on the degree. I am paying for my NP with loans, but the income highly outweighs the cost of loans. Just pay it down fast.
More people need to understand this
Fully funded PhD programs are 100% the way to go. That’s what I did too and also thankfully have zero debt
As a truck driver myself making 85K+ a year with $0 student debt, i'm just sitting here shaking my head in disbelief
Me and you both brother. But we're just some lowly truck drivers.
People like this think it's shameful to do a job where you don't wear a suit and tie and you might sweat a little bit.
You would rather go to school for 4 years and owe hundreds of thousands of dollars and also have several thousand dollar mortgages.
And need to have brand new SUVs and $500 a month Starbucks budgets before they're even 30.
Forget the $5,000 vacations every year so people on social media can see they're doing well.
@@TYBG85lowly? Aw hell no. Y’all keep it going. Love to see trucks rolling.
Wife & I both College Grads. Never made more than 60K each. Were 53yrold. We both drive Semi fuel truck delivering fuel to gas stations. Each make around 100K. Yeah, so there's that...
wish i was you. i had $15k of my own money saved from summer jobs when i graduated highschool and i wish i had just kept working and saving. college was the biggest mistake of my life... drowning in debt. its hopeless and crippiling.
@@first-last-null not my truck☝️& 85K+ Net profit/take home after taxes
My mom has this saying. "Don't be house poor" Which unfortunately that couple is. Living just to pay off their mortgage, daycare and other monthly costs. We live in a society where wages have not kept pace with cost of living. Until that changes (probably never), you truly have live within your means and stop chasing these ideals of what we are supposed to have at a certain age.
I love the term "House Poor". Gold
Never move where there’s a home owner association.
Many people are ignorant on that. They see shiny house and get it. Our neighbours HOA jumped from 90 to 300 and now to 800 per month in few years!
Preach!
Kinda hard to avoid in an urban area unless you want to rent forever.
@@darlingcorinne someone always has an excuse. Don’t live in that particular urban area. There are other urban areas. Move one town over. Move to a lower class area. Move to the country and work on a farm. Or stay where you are and pay people to tell you what to do with your property while giving you nothing more than a community mailbox and a playground.
@RM-nm3xn as I said. Pay someone to tell you what to do with your property. If I want to build a deck on land I own who are you to tell me I can’t. If my pool floods your basement sue for damages. Otherwise nobody is going to tell me I can’t have a pool even above ground because you might be afraid that it might rupture and it might flood the basement you might have. That’s a mighty lot to demand of someone that I for one won’t tolerate.
How can you have a $3k mortgage payment and claim that you’re lower middle class? WTF.
Exactly!!!!! She may not in upper middle class, but definitely not lower middle class.
This IS middle class today. That's the problem.
exactly...and most boomers did not have first houses that were that huge and that nice...sorry she has a bit of entitlement and thats her first problem
Assuming 3k is mortgage, their income should be multiplied by 3. That's 9k give or take a month. Minus 20% off the bat for taxes. That's $7200. Minus 3k in mortgage =$4,200. Now minus 2 to 3 car payments at $750ea. & minus $140 for insurance ea. ($2,670) you're left with = $1,530 . -$500 on food = $1,000 .
$200 for gas ea car ($600)= $400 left.
You still need phone bills, car expenses, cc payments etc.. it's definitely lower middle class
With no savings and a mere $500 left monthly after bills, their combined income of under $100,000 places them squarely in the lower middle class, despite being a dual-income family.
It’s time to hold the colleges accountable. They are selling worthless degrees with no accountability. THAT needs to stop. Harvard has $55 Billion in the bank. Cash. They’ve reduced the value of their degrees but still increasing their endowment.
Amen!
Way past time. It always amazes me how people will attack the person who got scammed by the college instead of attacking the college who scammed them.
In my book, both are liable. When I didn't really know what I wanted, I left school. Family lost their absolute shit. Why pay for a piece of paper if there's nothing behind it? The degrees should be available but nobody should be looking at them as meal tickets.
Harvard is FREE for those with limited resources! By the way, if one goes to college and major in a subject that doesn't pay well, one should not complain!
As much as I’d like colleges to lower their prices, I also don’t want to give up on capitalism so it looks like colleges stay.
I sold an apartment in Springfield and made about $250K. I was frustrated when I only earned $171 in interest from a regular savings account. After doing some research, I was advised to invest in stocks. Are these stocks a good point to start from?
While the stock market is promising and can give good ROI, expert guidance is essential for effective portfolio management so you don't get burnt out in the market as it is very volatile.
I opened an online high-yield savings account with 5.12863% interest compounded daily, expecting to get $2,500 in interest on my initial $50,000 at the end of the month. Instead, I only received $420. When I inquired, I was told the interest is calculated daily, which was not clearly stated on the website. My partner advised me to divert into stocks through an advisor, and in just six months, I achieved over 80% capital growth, excluding dividends. Highly recommended!
Pls how can i meet this advis0r? i want someone to help me invest my divorce settlement, It's just being laying around in the bank without much interest.
Melissa Jean Talingdan is the licensed advisor I use. Just search the name. You’d find necessary details to work with to set up an appointment. She’s really good
My licenced advisor of choice is Melissa Jean Talingdan. Just look up the name. In order to schedule an appointment, you would locate the required information. She is quite talented.
People are buying and financing the most expensive things so they look successful and then being surprised it actually costs real money and not a dream to have it.
Loan interest car loans so that poor people are driving BMWs
People need to look at the 1200 square foot house instead of the 2500 square foot home. Start to differentiate between want and needs.. Be appreciative of what you do have ! The time to keep up with the Jones’s is over.
Don’t blame economy on purchasing an overpriced home during the biggest buddle in History
And a Charger in the driveway, a brand new baby and a large dog. All of this and they havent paid off their student loans yet, but they buy a more than half million dollar house and wrap it in Christmas lights even though they have less than $400 in their bank account..like they have extra money on utilities or something 😐
They need to buy a house, so they’re kids can live somewhere, and they’re in a safe environment, where they don’t get robbed or killed. An investment in safety is still a sound investment.
Exactly! And failing to plan for interest rate rises!
@@markushaahr9194 And that is what makes them middle class. Some of us raised our kids living in apartments in bad neighborhoods because it was all we could afford and did not spend money we didn't have.
@@markushaahr9194Need to buy a house? No, apartments exist. Definitely not a need, I grew up in apartments and felt safer actually since it’s so locked down and there are people all around in such a tight building.
I'm generation X and retired, here's my advice. I studied my ass off in high school and graduated at the top of my class. I did extremely well on my SAT. I graduated from a top 20 college with a degree in accounting. If I had to do it all over again, I would've skipped college and learned a trade - electrician, plumber, welder, et cetera. The kids who graduated dead last in high school and learned trades actually ended up wealthier than the kids who went to college.
its always looking back this looking back that. our parents did the same thing to us. doesnt work well now. main reason is cause change is happening too fast
Except after 25 years their bodies are broken, with 25 years left to work. My advice is to learn a trade, then get a degree in something management related. Business, organizational leadership, communication, or psychology. This way you transition into management, quality assurance, safety, or some other industrial office position as someone with floor-level experience. I make 37.00/hr in the south, but my supervisors are making 50.00/hr, with a moderate amount of overtime on top of that. I'll be starting a master's program this summer for that reason. I just wish I had done it earlier.
@@Chad-f9xmost tradesmen I know are way more fit than the office folk, they look bloated and sweaty every time we go out.
@@Chad-f9xvery true. I knew a mechanic that dealt with injuries and body pain already in his 20s. Salary was only 50k
I've seen that too, but also I've seen plenty of folks in trades who burn through their cash as soon as they get it. Making money is one thing. Holding on to it is another.
This interview video is not about homelessness it's about higher middle class people not affording that Hawaii vacation .
Not buying a probably $ 600-800K ( or more . . ) home would have solved their $ 3600 mortgage payment "problem".
OK Boomer. Find a reasonably priced house for them then.
I had to stop when I heard that. JFC
That home purchase was not wise.
But I guess what were their options - Just rent and hope the housing bubble popped at an opportune time?
Yea, not sure where they live, but two stories, it does look bigger than what two people and a baby or two need...
You know a 600,000 mortage would be around 6,300 a month they didn’t put houses that cost at much. The average house cost 400k these people look like the took out a 320k loan and that’s the payments with the mortage rates so high. Not everyone can buy a 900k house or would even come close to qualifying
@@jaypaul386if someone is spending that much on a house, you know the pricing is way out of line.
When you own a house, you don’t just pay the mortgage. You pay for the land itself in property taxes and water bills from the state. That’s on top of the essential bills you pay for and groceries.
True. My actual mortgage payment is only 1/7 of what I pay each month for a bundle of mortgage + interest + homeowners insurance + property taxes. On top of that payment is paying water/trash, gas/heat, energy/power.
Duh. Thanks for pointing out the obvious. I know most CNN viewers are clueless and you just confirmed that.
The property taxes are paid through the mortgage. Water isn’t part of the land, it’s a public service (unless you have a well).
@ColinPMcEvoy my property taxes aren't paid through my mortgage. I get a bill in the summer and winter for them.
don't forget repairs/maintenance on the house
How in the world could those two with the baby didn’t see $3,400 a month mortgage payment as a potentially stupid thing to do is astonishing. I get people struggle but they put themselves in that situation. Sell the house, get a 2 bedroom apartment and save. Just borderline moronic to live that way and feel you have the right to complain about it.
Exactly, people make their own beds and then cry about it. I made my own bed plenty of times through life, luckily I got smarter in my 50s and now debt free, retired and investing money.
have you check the price of a 2 bedroom apartment in a decent area these days?
People live beyond their means.
@@jimmyboard Bare minimum...LOL 😂
@@darickfoxo7986 I live in Columbus Ohio and a decent 2 bedroom apartment here is far less than half of that.
As a Late baby boomer. The one mistake people of my generation made was over pushing college on to our kids. I think there is a sort of degree inflation. There are also degrees not worth going deep in debt for. You have look at ROI in which field you plant to study.
People of your generation have made many many mistakes, not just one. Baby Boomers ruined the world.
Struggling Millennial homeowner: I got a worthless degree and found out the hard way that it is not the 1960s anymore and just having any old degree is enough. You now need a degree that actually prepares you for specific careers/jobs.
Truth. It has always been that way
@@ricksanchezsflask8794 Not really..until the 70s or 80s, you COULD get a philosophy degree and still get a decent professional job. Maybe not a GREAT one, but more than enough to take care of yourself. Employers didn't have 995 of their applicants with degrees back then, so having any showed you at least tried beyond high school. But now? Nope. Your degree better have a specific job associated with it. Or it won't matter how far you go. A Ph. D in a liberal arts major won't get you shit but $300,000 in student loans. But you can go to a community college for a smartly chosen Associate in Science Degree and be able to pay off any loans you might have within 2 years with a good job you will get.
One needs to adapt and overcome. Destroy the economy, and take advantage of it. Make penny from whatever thing you can. Key word is save though.
@@ricksanchezsflask8794meh, in post ww2 you could leave the army, become a trucker, and buy a house for 4 kids and a wife. Without a degree. In the 60s, you could get a degree in Shakespeare and get a job at a factory.
no degree prepares you
The first guy is living in a beautiful house with a beautiful wife and a beautiful baby. Poor guy.
And he feels like he's not getting a break anywhere, ridiculous !
They are also paying 3500 a month for that house.
@@nedflanders5649 Yeah, its a lot, relatively speaking. But overall I am not holding telethon for him.
Not American, but we are living in a nice apartment, but would dream to have a house like that one day.
@@dimitarmargaritovyeah, but it’s like made of paper machetes. It’s literally falls over with the wind.
The problem is how easier it is to lose everything in America. Despite hard work everything can be taken away. Through no fault of our own.
YOU HIT IT PERFECTLY. Agreed!
Everything can be taken away quicker in every other country in the world.
It has always been this way, unfortunately that is a feature of the system not a bug
It is their fault, they are just too entitled, lavish spenders vis a vis income and debt load, the house too big, gadgets everywhere and who knows what else.....
Of course too big of a house, too much of a car,
and too many adult toys have nothing to do with their troubles.
Result of buying what you want,
instead of what you can afford.
I got an AA in business administration. Lifted me out of poverty once I graduated.
🎉🎉🎉🎉😊😊😊😊
An AA?.......🤣🤣🤣
They do not have to live in a house for $3400 a month. They could live in a nice condo/apt for $1500
Not where they live.
@@jenni8982then move.
How dare you believe she could live in a house with only one bathroom or a kitchenette
In a poorer part of town, where it’s more dangerous. Thus, not worth it.
why would you live in an apartment and pay rent to someone when you could be builidng equity for yourself.
"We don't have that luxury" she says from within her big house alongside her husband and child. Wow.
yup. disgusting.
I think that’s the point. They look like they have everything on the outside but they actually don’t. They can’t afford to live if one of them loses their job. That means no emergency fund. Big house doesn’t equal financial maturity and responsibility. It just means you have a big house…..
Yeah. 1 child. It’s shameful. An American should have at least 3 children. How can people be ok with this. This is going to be a collapse not so far from now. Weak generations not raising kids.
They should have done this with a minority. Banks are making the most money from us with the interest when it comes to student loans. This family here is doing fine.
@@MsStephnicole Most Americans live paycheck-to-paycheck and it's been that way for years now
They live in a 3400 monthly mortgage and complaining 😂
Some places that’s a 1200sq foot home. Just because it’s $3400 doesn’t mean anything. they also probably didn’t put down 20% which just drives the monthly payment up + PMI.
Yea it’s probably a mini mansion with a pool.
They bought too much house.
The point is- this used to be average. This used to be attainable and NOT 3,400 a month. The quality of life is slipping hard and quickly
Yea sounds like an unwise decision buying that house
I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me.
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through a CFP, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation
I definitely share your sentiment about these firms. Finding financial advisors like Joseph Nick Cahill who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them
I have heard numerous stories of people earning up to $500k-$3m working with this particular real-time portfolio manager
The so called 'American Dream' has changed. Do what works for you. Only buy a house when you can afford it.
Thanks biden🤪
@@mhall801genocide joe
Housing isn't exactly discretionary spending
You can never predict when you can afford anything anymore, not in the new US. You can lose everything no matter how good of decisions you make. Too much rapid and unpredictable change. Corrupt politicians, Rapid AI advances never thought possible, insane housing and interest rate hikes, and a job market that went from good to near impossible in a very short time.
Wake up and vote Republican to end this BS.
My kids went to community college first. Most teens don't know what they want to do. I wanted to go into medicine and academia,bwhich is what I did. However, everyone is different. It can take years to finally figure out what you want to do in life. I think community college helps with that, with out burdening young adults with student loans. I wish everyone success in their positive endeavors! Take care!🙂👋🏽👨🏽⚕️
I totally agree with you. My son is also coming to community college. It is so much cheaper. When he started he didn't know what to major in and I told him just do general studies. It took him about six months to decide what he wanted to major in after he started CC. Before he started he had thought about getting a trade but changed his mind. I think getting a trade is a good decision also. A lot of those jobs down here in lower Alabama pay really good. 😊
Yes this. My mom made me go that route and once I finished an associates degree I paid my own way for the higher levels
@@kjones8747 Nice! 😁👍🏽What did you study?
I did this too. I graduated with less than $20K in debt after transferring to a private 4-yr. Unless you’re getting a full ride or close to it, I don’t understand why anyone would go straight to 4-yr from high school to major in something like History, Art or Comm Studies. Most schools offer an array of useful and useless degrees, so you have to research the ROI before committing to decades of student loan debt. Many older millennials didn’t know this, so I’m hoping Gen Z and Alpha learn from our mistakes.
Why are people shocked that they can't get rich with a history degree? Much of their struggles are on them. Demand for history majors has remained pretty constant throughout history at just over zero.
And he is a immigrant or son of one too. Shame on him
Stock market has gone up at record highs? CNN must be living in a different reality.
Should have trained to be a pharmacist.
Also, who works for a non-profit and then has nerve to complain that they're lower middle class. Altruistic jobs are honorable but should be pursued by folks who are past the building phase of life. Those jobs are better for folks who could retire if they wanted to.
Herodotus, the first known historian, claimed that the path to riches involved going to India and robbing giant man eating ants of their fortune.
Notably, he did not recommend that anyone become a historian.
I graduated high school with a 4+ gpa and a 30+ ACT score. Instead of going to an expensive Top-tier college, I applied for a bunch of scholarships and went for free to my in-state university. I only had to take out loans for my medical degree, and even that was discounted because of scholarships and in-status.
No one should ever go private or out-of-state for college unless they have a scholarship. College can be free if you're willing to put in the work.
unfortunately nobody really tells you about this and schools don’t educate students enough about these things they just push them to go to university bc it’s more profitable for them
I bet you are a minority. It is hard for white people to get scholarships
They thought the dream house should be the first house which was a mistake. We lived in an 850 sq ft house with our son for years just fine, since we came from a 500 sq ft apartment in San Francisco when our kid was born. We may never live in a 2000 sq ft house but that not even close to being a worry for us.
That's one of the big differences with young people today. They feel they should be entitled to a certain standard of living immediately after completing their degrees. In their defense though new construction of the traditional "starter" home really doesn't exist in most markets anymore and supply on the resale side is often snapped up by investors. I do agree though, they are basically just looking at things without being realistic and taking into consideration how compromises, saving, and moving slowly up the ladder are required. Gen X reached adulthood with a much greater understanding of all that. It's life, not a hayride.
My rock solid advice... avoid student loan debt. Second advice, find a job that appreciates your skill and its level of it. Work on getting certifications and trades. That even includes getting a CDL for example. Always go where you're skills appreciated. Companies will pay for your education and certification if they need it! Avoid any kind of debt besides car and a place to stay. Don't ever let anybody sell you a dream. That's my personal advice as a millennial.
I’m 73 and I approve this advice.
I joined the military (National Guard) to avoid student loan debt. Also got a high level security clearance out of it. I was able to get into the private defense sector after graduation and now make over a little over 150k in a MCOL area, less than an hour from my hometown. The best kept secret in the defense industry is that it’s cheaper for a company to hire and train you, than it is for them to sponsor a qualified person for a clearance.
I only just turned 25, and a few years ago I would have told you that I may have made a mistake going the route I did, but now I’m so glad I did. It was hard watching my HS friends enjoy themselves in college, but now they have to grapple with their debt, while I’ve been able to move on with my life.
Student loans are fine as long as you consider your salary post grad and have a plan to pay it. The problem is people taking out $150K in loans to get a degree that has no prospects. They're treating college as entertainment, not a means to an end.
@@yourwifesboyfriend6081 This is really excellent advice. My military service was invaluable in my career.
Well said .
Their mortgage payment is over 3,000. a month and they feel like they are below middle class??? The average median mortgage payment last year was just over 1,600. a month. Maybe the economy isn't the only problem here. The average person buys a house twice a big as there parents had also. The big fancy houses from our childhood is the average suburban house now.
You have to factor in interest rate and HOA. $1600 is not the average mortgage payment and car notes are as much as a house.
@halfwayempty 1600 is the average median mortgage payment. Sure it may be higher in places and lower in other. I'm just saying that house looked pretty nice and they said they don't feel like they are in middle class. That sure didn't look like a typical house of a family living below middle class.
Hey, they wanted a house big enough for the family they can't afford. Cuz logic.
They may have bought the house years ago. But, now with inflation, it eats up the money they have. We need more details to come to a conclusion. But, nevertheless. Economists say you need to make at least $120,000 to afford living.@@chrisquinn394
@@halfwayemptymost people don’t have HOA’s lol and with our internet rate we are under the $1600 for a 1000 sq foot 1920’s craftsman
this BS is alarming always from corporate medias.
Prices are too high. With rates not subsidised in ’24 and mortgage still high , currently seeking alternatives to maximise savings without an RV move or taking a loan. I’m seriously contemplating the latter.
Affording our mortgage is tough as well. I have suggested cashing in, renting or relocating, and investing the rest in the stock market.
Working with a financial advisor has been a game-changer for me. They provided invaluable insights and tailored strategies that aligned perfectly with my risk tolerance and financial objectives. With their support, I've seen significant growth in my investments and gained confidence in my financial future.
this is all new to me, where do I find a fiduciary, can you recommend any?
'Melissa Terri Swayne ' is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Despite that degree, they don't appear educated enough to live well below their means and make better financial decisions.
exactly, just greed and no common sense
Not all people have the financial education of what you're referring too. This is why the nation is in the mess it is in. Before judging, let's understand not everyone knows what others know.
Yeah, too bad our educational institutions don't teach those things
@@MsBigact 😘
Thats Americans in general tho
As a Millennial myself, who is not struggling, I am fortunate to survive in this economy, but I look at other Millennials and see that that they don't have it as easy as I do. The financial pain is still hurting most folks and very real.
Vote Red.
Problem solved.
@@oldcrowtj4937
Leaving aside the irony of conservatives saying "Vote Red", you seem unaware that the economic pain many peopel are feeling has been getting worse since the Reagan revolution
@@oldcrowtj4937 I would, but their priorities are out of wack. They're too busy keeping President Biden from getting a political win, banning "pornographic" dictionaries and protecting Donald Trump from the law to help people financially. Their M.O. is to bankrupt America and make themselves rich at the American public's expense.
So what you’re saying is Joe Biden is a complete failure.
@@jockyoung4491Actually President Regan saved our nation from Jimmy carters record inflation, de industrialization, over regulation and won the Cold War.
I bought a house in Las Vegas back in 2011, 30 year mortgage. Paid it off in 9 1/2 years, made double payments, sometimes triple payments every month, I had to learn to do without things. It’s been a couple of years since the house was paid off now I have more money to invest. I financed it for 108,000k… now valued over 400,000k. You really don’t need a college degree to achieve your goals…
exactly you have to make sacrifices. I paid in more too. Paid off my mortgage. Chose a small property in the countryside with good public transport and cycling access. Never had kids because I never wanted them, I walk and cycle, don't have a car anymore. I love my life. My hobbies are simple and cheap
Correct, but your work ethic and mindset shows that with a college degree, you probably could have opened even more doors for yourself than those who are blaming the degree as if the degree was supposed to open doors for them. The degree never gets you the job, makes you rich, or teaches you much of anything that will be utilized on a day to day basis at any job. It is up to the individual to leverage the degree when they need a leg up - e.g. applying to the same role or promotion against a very comparable candidate who does not have a degree, or getting called for an interview for a managerial role vs another candidate who has the same experience but doesn't have the degree. The degree itself should never be expected to just earn you money. Just like getting a piece of paper that says 'yoga instructor certification' doesn't get you the job if you have 0 experience, have no interpersonal skills, or look totally out of shape.
The first guy is not even trying enough. 100 applications in a year is nothing. Also lives beyond his means with that house.
Right! I've submitted 100 applications in less than a month.
At a certain point its just sending applications into a void so wouldn't make a difference. What he needs to do is figure what job he wants to do and tailor the resume to the job application
@@anthonyfaucy2761To be perfectly fair I don’t think this guy is trying. Sorry but even to tailor your resume doesn’t take that much time and he claims he’s getting interviews. So either he sucks at interviews or as I kind of suspect he gives off a lot of red flags.
I got an Associates in Medical Billing and Coding at a Technical College. I then obtained my CPC that summer. Technical or trade would be the best bet anymore. I make 75,000 a year as a Senior Medical Coder. Didn’t start like that but found a job with a foot in the door.
3400 mortgage? Sheesh. They bought too high.
What kind of other house were they going to get. Rent? These houses shouldn’t have such ridiculous prices anyways.
If they didnt buy a house they'll be made to give the extra $$ to the IRS come 4/15. Houses are a great write off. Unfortunately corporations got together in 2020-2021 to outbid every potential buyer. A house went on the market, a buyer offered fill price the corporations would outbid them by 50-100k. Now they rent those homes for an outrageous amount. You're forced to buy more than you need, rent at an ungodly amount or pay the IRS bc you hv no write off. I think every bit of this was planned. It went like clock work. Covid, losing jobs, housing market was being taken over ( should hv been illegal) gas price increase causing food & merchandise to increase. Gas has gone down a bit but food /essentials didn't return to normal. It will get worse. I never see America being what it was. Opportunity to live in whatever style you chose. After marriage buying a house was just a given. Those days are gone.
House prices are crashing where I live. I am sure they are now underwater and will have to walk away from their home.
We need skills not degrees. The problem is ai and CEO greed. The rich getting richer. Medical Bills need to be free.
And education needs to be massively reduced.
Based on their income why on earth did they take on a $3400 monthly mortgage??
I am an immigrant and I took my time getting my degree and graduated debt free. I paid as I went. My sister did the same, and our children, three of them, are professional college graduates, debt free.
Why people take out loans and get into debt is beyond me.
Work and pay as you go. What's the hurry? All thats waiting for you when you graduate is work, work,work, work, work, work... Enjoy college, and be active in school activities. That's a great part of being a young adult.
I worked full time through college. If I hadn't taken out loans, I wouldn't have been able to go. I made enough money to live on, not enough to also pay for school. To qualify for the grant I got, I also had to go to school full time. I could just do a class here and there (which costs more/hour in the end).
@@jenni8982 Yes, everybody's circumstances are different. Getting into a huge debt because of college, in my honest opinion, is not a wise decision.
@QAsession I agree. Any young person interested in the medical field, my husband tells them not to do it unless they are in the military.
@@jenni8982 That is sound advice. Its terrible that college is so expensive. My niece became a nurse thanks to the college fund the state lets parents set up when a child is born. Then she manages to get an additional scholarship for books. Thankfully she is a nurse and has zero college debt. Everything is so expensive.
If you can't afford children, don't have them.
Can't feed 'em, don't breed 'em
The whole point is that we’ve now lost the option to. People in societies need to have babies, otherwise, that society will crumble away to dust. People in the West aren’t having any babies, and is it any wonder? Nothing but weakness has been bred here.
That couple can afford children, but they prefer to spend it on a steep mortgage instead.
Facts!!!!!!!
well said. kids are massively expensive with no reward
Look at how big that house is. Seems like a case of living above means.
Compared to other houses in that town, they got a pretty good deal.
@@jenni8982 Fair point
Safety is safety. It’s called generational wealth. It’s important.
Never thought I’d say this, but since becoming a new mom I decided I won’t be pushing my kid towards a 4 yr school either. It just seems crazy to saddle a teenager with that much debt as they’re entering adulthood.
A college degree is still one of the best ways to get a high paying job, but unfortunately it's even harder to get a job that degree promised. From my first job hunt last year, I saw how much experience and how large of a skill set employers are expecting for entry level, which is ridiculous. Entry level is 0-1 years of experience, usually straight out of college, and these employers are asking 3-5 years of experience with the skill set and knowledge that comes with that experience.
I have also noticed that trend in job postings on LinkedIn.
You really have to have a couple of internships under your belt by the time you graduate and even then it’s tough competition
@@neverstop2493 Employers of white collar jobs want 3 to 5 years of experience for "entry-level" jobs. And now with AI the white collar job market is getting even tougher. We as a society need to value blue collar work more like we used to.
AI is going to continue to disrupt the white collar market, only gonna get worse. New collar times
@@neverstop2493 yep, internship is the way to go if you have a specific place that you want to work.
It's good to see someone acknowledge what Millennials are actually going through instead of making wild, baseless assumptions
As a millennial myself, I have recently been coming to the realization that many things in my life I was told and, quite possibly, pushed into doing rather than being supported in my own choices. When I got a salary job, I wanted to start with an apartment; I’ve had a house for over 10 years that I feel I can rarely make necessary improvements. My feeling is parents have to stop dictating what they want for their children and simply provide the love and support for them to grow.
Or you could grow a set of balls and rake responsibility for your own actions
@brovro6732 That's a good idea. However, we have purposely pacified our children. You yourself are weak. Where is the example?
@@MeBihhhhor you could be a boomer that’s leaching off the younger generation and screwing them older like a selfish entitled child.
Stop looking backwards. You can't change the past. Start directing your own future and start taking responsibility for your choices. Blaming others attempts to absolve you of your role in where you are now. It prevents you from taking control/responsibility. Sell the house and rent an apartment.
Let me guess, your parents helped you purchase the house.
No I'd say it's that things have changed since you were kids, which they couldn't predict. By the time you got grown, grown things switched up to where some of their advice doesn't work now a days. So now all of us are blindly making out a new way which will take maybe a generation or 2 to figure out. Then it'll change again. Esp with this artificial technology. 😔
When my husband and I had one child, we lived in a tiny one bedroom apartment. We didn’t buy our 1800sq ft townhouse until we had 2 kids and saved up for a few years. We bought 4 years ago. Now we have 3 kids and one on the way( we are religious) , we looked into a larger home, ran numbers and thought: nope! We will stay here until we have more money saved or interest rates go down. Getting into a large mortgage just doesn’t make sense. Our home is still comfortable and our children never go without. We have a lot of disposable income for extras and I truly believe it’s because we have no car debt, no consumer debt and a low mortgage. We also live right outside a major city. I’m always curious about people with super small families buying these large homes…..
you would have more money with no kids
Graduated as a RN after 4 years, worked in the field from 2015-2022. Barely made enough to scrape by unless I was willing to work 7 days a week instead of 6. After all the fixed costs in life there was not much left over. I didn't have a fancy car and had a 800sqft house. Left that for something with a better work life balance and making the same money. Just because a job is in high demand or important does not always mean it makes more money. Crazy world we live in nowadays.
I got my Associate Degree in nursing, the hospital paid for my Bachelor degree. I worked 2 jobs for ages, easy working three 12 hour sifts full time, still had 3 days off a week working an extra shift somewhere.
You're either living in a terrible city, living above your means, or have kids... Maybe all of the above. As a 32 yo RN with no kids I make a little over 70k a year and have MORE than enough money with a house paid off
@@carefulilickwindows6881 But are you genuinely happy? Thats the real question.
@@Stargazzer811 Yea, I think the problem with a lot of RNs is they settle for a job. That's not the argument though, the argument is that you should be able to live comfortably on 60-90k a year or you're just stupid
@@Stargazzer811 Also, if you work bedside for 2+ years as an RN then you're insane and will probably hate your life. That should be experience to find a better job
$3,400 a month mortgage …
GET FUCKING REAL
😂 mine is less than half that and I could sell and make about $200K profit. I am considering buying an RV and getting rid of the house just because the future feels way too insecure to have even a $1600 mortgage like mine. Cash in the bank, investments, are more important because nothing is more important to me than having some cushioning should things go south. I’ve always been terrified of being homeless. Even more so now as I have children and the state of the economy is horrendous. The future has never been more uncertain. Banks OWN our houses til paid off and they can take them back any time they want! The government is pushing towards owning more houses than individuals do. Get real, people!!
I joined the military at 18. Completed an undergrad degree on active duty and used the GI Bill for grad school. After 15 years of working in the same STEM field I’m earning low six figures. I can now afford for my wife to be a SAHM which is what I’ve been working for my whole career. I own a home and work for the government. Life still isn’t easy, but it never was.
Work hard, make good decisions and live within your means.
So glad I never had a spouse or kids to tie me down. 🎶 I'm free to do what I want any ole time 🎶
@@SUGAR_XYLER I hear you, but it feels great to protect and provide for your own family. Kids are a LOT of work, but I love every second of being with my son. Definitely a life that is not for the selfish.
The military is a great way to pursue education affordable and it is often overlooked by many in the public. Thank you for putting in the discussion and Thank you for your service!
Ahh, STEM field, the grossly underfunded field.
One of the reasons many Americans are suffering is because they don't know much about financial education. There is a reason why they don't teach financial education in schools: they don't want people to wake up and pay attention to what's going on. This is how you can control the entire public.
This is our family. We live month to month. I have a part time job that I didn't need a degree to do. We tell our kids if they want to go to college to try to avoid debt, do collage as cheaply as possible. We encourage them to get a trade.
At one point, it was true that a college degree got you a ticket to a better job. But its not true anymore, its more like a passport in many cases. A college degree doesn't necessarily correlate with skills and productivity. With the internet, streaming videos, AI language models, and all sorts of resources, anyone anywhere can learn almost anything on their own. The younger generations are facing the challenges of automation and globalization more than ever.
Very true statement!!!
$3400/mo mortgage payment is for a $500k+ home. They are not "lower-to-middle class". Just hearing them complain is so laughable when you consider the numbers they are working with. The real problem is the sense of entitlement!
The house they got was $553,000 and it was listed for $499,000. So they offered $54,000 over asking. They are middle class if not upper middle. 😂
@@tattoogoddess85 Actually they got it for $530,000 and they paid an additional $18,000 in closing costs. Get your facts straight.
Go to Zillow and look at the price of townhouses and condos in their town. Many of them cost more than they paid for that house. A similarly sized house is now around $700,000.
@@jenni8982 what a racket!!
@@jenni8982thats fine but they do not have to live in a house that expensive. They can live more modestly and still be middle class, and live the American dream. The problem here is not that the system is against them. Its that they need to make better economic decisions.
A BA in history from State U. didn't lead to wealth? Shocking, just shocking!
Or maybe, he should have just stopped with the BA in History 'student loan free' rather than go back to college, and ended up with a student loan.....
@@MotherAotearoayeah my thoughts too
What will be the options if one does not go to college?
@@deannab9511 trade school
@@deannab9511 If you go to college, get a useful degree. Otherwise, it's far better to learn a trade than to run up piles of debt to get a useless degree that won't lead to a lucrative career.
As an immigrant he is right, we are told to have the American dream you need to go to college. I did just that,got the career and it sucked. 7 years in, I decided I o figure out how to make my own money by taking risk. I quit my job, now I own two businesses with my husband and we go to work when we want, wake up when we want and travel when we want.
So how did you just quit work and magically make 2 businesses?
@FesteringRatSub An educated guess is that she used her critical thinking skills and put the work in.
Your fault for beleiving it
40 Years in Human Resources working for mostly Fortune 500 companies. Went to Community College. Took 2 years off to save for tuition for State College. NO LOANS. Started at the bottom of the ladder, always changed jobs after a couple of years, each time working my way up to executive level positions. After marriage we lived in apartments, first one was furnished with lawn chairs and snack tables. Drove used inexpensive cars. SAVED until we could put down a large down payment. Bought a house that was sufficient for our needs and improved it as time went on.
You DO NOT have to start off on your own living at the standard of living you were accustomed to or desired to be at.
Kids now think that whatever standard of living they had at their parents place when they left is what they should move into. That is NEVER how things were.
Depending on your field and what you make of it, the available jobs when you graduate are often different from when you started school. It's very important to know how to adapt, learn, grow, and survive in any environment. College isn't for everyone. Some folks are better off with trade schools or certifications. And some "wise elders" are giving outdated advice that may have been true back in the day but not now.
I'm living basically in someone's attic and my health insurance, for the most part, doesn't even cover urgent care. I've been paying my student loans since 2017. I can't afford a car. I've held some really tough jobs and I've endured injuries at work. I live in poverty. I still owe about 70k from student loans. I started an LLC to make extra money but I'm still broke. Praying to God that things get better for myself and others. I just hope I can comfortably see a physician and buy groceries one day and live in a small place that I'm proud to call a home
Keep pushing forward in faith.
I’m a millennial and still paying for a bachelor of Business degree with honors at age 40 and I became a single mother at age 17.
It’s been a useless expense I’m still living with today meanwhile my daughter has since grown up. The struggle is still real.
If I could do it all again?! I’d skip the degree.
And the single motherhood too, yea?
I would have left out that last part
Sorry sweetie you most likely voted for joe biden that's why you're struggling.
I'm sorry the rest of the american taxpayer is not paying for your free ride through college. Especially when you probably came out knowing nothing,
I Really do feel bad for you people. Especially the young couple trying to buy a house in joe biden's economy with high interest rates record inflation... How could this video say the economy is good my god... Gas prices grocery prices families paying $11000 more year under joe Biden Then they did with trump Buying The exact same products... You are struggles are because of high inflation not just school loan... I did not send my kids to college they are all doing great.
I'm sorry I'm not paying for you parents mistake...
A family member just changed their major to Business, and I hope they reconsider.
I think everyone ignores the skills they gain in acquiring your degree. You may feel college was useless, but your a more polished person with better communication skills. People with and without college degrees still make vastly different decisions in life. Just because it feels useless, doesn't mean it was. I'm not doing what I went to college for, but I speak better than any of my co workers who don't have a degree and I'm a far better problem solver. The bar to get a high school diploma is so low. Having worked with a lot of uneducated non college educated people, I miss working with people who have more than 2 brain cells.
Some degrees are not worth the paper that it’s printed on
Colleges should be held accountable
paper?
not etched on a plate of silver?
As a childless (by choice) millennial who currently makes $65k/yr, didn't get a degree but had started college online in 2011 so I did still have student loans, and was lucky enough to be interested in IT, I had always browsed home listings for fun but never truly thought I would be able to buy a house.
I still think there are a lot of MASSIVE changes that need to happen before it'll be feasible for me, but I also recognize I'm still in a privileged position.
Idk about being proud of not having kids, but sure.
Don’t count on nursing homes in the future though. They’re gonna be hell.
I'm 42. Got an MA in religous studies and ph.d. in philosophy. First in my class. Taught for years as an adjunct. Salary very very low. I stopped eventually and looked outside academia. Now I work in a totally different field and make almost 3 times as much. Heart was broken cause I had to make this change after years of hard work, but now I can pay rent. Don't go to college if you don't have the money and a clear picture of your employment after
It’s the biggest scam ever on poor people. A Bachelors degree is almost the same an associate degree. Then you have to get all these certifications it’s the old baiting and switch.
It's a racket!
Yes, it affects minorities the most. Everyone should change their nationality to Ukrainian for student loan relief.
Lower middle class and you live in a McMansion, people are so out of their minds, at least they get to keep up with the Jones’s with their massive home
I wonder what kind of cars they have?
💯
In all fairness their house was built in 1965 and is a two story ranch. But still way to much house for them and way to much money
That isn't a McMansion. That house is a two story mid-century house. It isn't that big.
It's ridiculous they are keeping up with thr Jones' but they have less than $450 to also them until February. There has gotta be a better way!
At their age (way back in the late '70s), my wife and I and our baby girl lived in a two bedroom, one bath, 50 year old rancher with a 7% mortgage, working two jobs, driving two 10-year old cars, with a night out once every two weeks at a pizza parlor. It took me 7 years to get a 4 year degree, and my wife 5 years to get a 2 year degree, both of which we got while working full time and mostly by paying out of pocket (no school debt upon graduation). We were the first in both our families to even dream of going to college. We thought we were living the American middle class dream, and were grateful for having as much as we had. I don't get it.
I really want this "lower middle class" couple to go on Ramit Sethi's show. They are clearly living above their means.
Buy a house. Not a condo or something with an HOA. NOT sure if these people have cut cable or streaming services etc. But....STRUGGLING is not a BAD THING. Becoming comfortable & doing better than your parents doesn't come automatically. Struggling is temporary and can and will teach you if you let it. Said the 30 years married woman if 3. Patience Gertrude.
Yeah and be stuck doing maintenance himself or paying out the butt to have someone else do it. I grew up in a 2000 sq foot detached single family house in suburbia with a huge backyard that was fun when you’re a kid but not so much fun when you’re an adult and have to maintain it! Also, heating and cooling a home like that is a monster. My parents did it, but they also bought the house in 1997 for about $360k (according to tax records that I pulled up for it on Zillow), which of course my dad grumbled about as being “too expensive” back then. You want to know how much that house is worth today? About $700,000 and they sold it in 2014 after their divorce was finalized to an investment firm for about $500,000 (there was a leak in the hot water heater that had slowly seeped into the walls and led to a significant mold infestation that my parents did not have the extra money to fix and of course, it was discovered by the inspector after they had finished renovating the place to prep it for sale - understandably, people looking to buy a house don’t want to buy one with a major mold issue).
Cmon man..Americans are paying on average $1,020 more each month compared with the same time two years ago
This American isn't. Where did you come up with this #?
Where did you even come up with this 😂
Wages are rising faster than inflation
Explain what caused that. Amuse us.
Thanks demented biden.
I don't know what to say...live within your means I guess. When I was first married, starting a family (Gen X), I never spent over 5k on a vehicle, my home was far from the nicest in the neighborhood. These folks have nice stuff. The gaming chair says it all.
You could say that a few years ago. Now it’s hard to say that given inflation is so rampant and out of control
@@MrMatt531inflation is going down. Sounds like you listen to dooms day news 😂
And when do you expect to actually live? Is life all just paying bills and going to work? All that while the rich get perversely richer?
My thoughts exactly. What beautiful homes they have. Wow.
They can’t see themselves, their lack of appreciation is flabbergasting. They are young. They think they are poor. They just don’t realize they chose that, and they don’t see how their education probably helped them. In time, they will build up, they are young and worried. Life.
I've noticed people who studied history or communications are always the first ones to say their degree wasn't useful or helpful to getting a job.
If you are studying a STEM field , going to medical school, becoming an actuary , software engineer , top law school, attending a TARGET business school. You can be looking at a great return in your investment. If you don’t know what a target school is , Wall Street usually only hires from target schools. Graduate school loans to work at a non profit sounds like a horrible idea
There are reports of STEM saturation now. I graduated in chemistry and mathematics but to less avail.
People w/ non-STEM degrees are doing just fine.
Stop spreading that BS misinformation. Having degrees in [WHATEVER THE HELL IT IS HERE] is way better than not having one at all.
I know people with stem degrees struggling to buy houses and pay for childcare. A lot of tech jobs are concentrated in big cities with high costs of living.
@@cindy3933 in those high cost of living cities you are either doing well or struggling. There is no middle class. The ones doing well are almost all college graduates with specialized skills or training. Average actuarial fellow salary + bonus $210k, Internal medicine hospitalist + bonus $260k . Invasive cardiologist +Bonus $500k General counsel + bonus $527k FAANG senior software + bonus + stock( Google senior SDE $330k /Google L7 swe $1million). Most of the FAANG software engineers making $350k+ come from places like MIT, Tsinghua University, CMU, Waterloo, Stanford etc. if you have the intelligence and drive to get a CS degree from a school like that you can do well. CS degree from West Idaho university will be a lot harder. Some college degrees lead to lucrative careers MOST do not.
@cindy3933 in those high cost of living cities you are either doing well or struggling. There is no middle class. The ones doing well are almost all college graduates with specialized skills or training. Average actuarial fellow salary + bonus $210k, Internal medicine hospitalist + bonus $260k . Invasive cardiologist +Bonus $500k General counsel + bonus $527k FAANG senior software + bonus + stock( Google senior SDE $330k /Google L7 swe $1million). Most of the FAANG software engineers making $350k+ come from places like MIT, Tsinghua University, CMU, Waterloo, Stanford etc. if you have the intelligence and drive to get a CS degree from a school like that you can do well. CS degree from West Idaho university will be a lot harder. Some college degrees lead to lucrative careers MOST do not.
why the push back on community college? SO MUCH CHEAPER
I got a degree in Poetry for 400K, had a child and bought a 1/2 million home with a hot tub while making Tic Tick videos and I just can't make it!! Can someone please help me?
All due respect but that house isn’t “lower middle class”. $3400 a month mortgage is high, even for an upper middle class family.
Don’t have kids
And don't get married
One thing I've learned, when it comes to getting a degree, it's just one ingredient, you are responsible for managing your career not the company or organization you work for. I worked the entire time I was in college so I learned this before graduating while my friends were full-time students found it very difficult to enter the workforce after graduation so they opted to get advanced degrees which I think is a waste unless you are following a specific career track thats guaranteed returns. I think in lieu of a 4 year degree young people should opt for 2 year technical or trade certification programs those seem to yield the better paying jobs without leaving you with debt.
A funny thing I found out in early life. Right out of high school I started working at a call center. 10$ an hour. And on the same floor we had medical professionals of many types. Lawyers and career truck drivers with every certification in the book. People who spoke 5 language's. All working the same Garbage 10$ an hour job i was. I am glad for every lesson i learnt there. The biggest being that the only guarantee of sucess you will ever get. Is the one made of your own two hands. Of your own hard work.
I learned similarly in my first retail role. Mid-age people with degrees hanging on the wall, doing the same exact management+sales work I was doing as an inexperienced 22 year old sans degree. Was already iffy on the higher ed system, and that really drilled it in: not to pay for a degree just to end up in the same place. It is up to us.
All I hear is people way more fortunate than most complaining about how bad they have it when they put themselves in that situation. The first guy has student loans, then decided to get married, purchase a ridiculous house at a time of insanely overpriced housing, then decided to go out and take on more debt by going back to school. So he has to work 3 jobs, boohoo, some people can't even get a single job in this market.. and STOP using the word poverty, my God, you are far from impoverished.
The second couple seems largely the same, only they decided to have a child on top, so add childcare to the list of expenses. And the wife works at a freaking NPO.
Exactly. I own my house which was an old craftsman I bought and fixed up. I’m a debt counselor and these are the people I stay away from. They never want to sacrifice but they want me to look and help them find an extra 400 to 600 bucks so they can continue to keep up their lifestyle.
I'm often amazed at how many rudderless children there are entering college.
Futures planned out by their parents as far as heading to college goes, but no plan as what they want to be when they grow up.
Lots of unexercised degrees out there judging by the numbers of baristas I know with them.
Unless you go for STEM, business, law or medicine, DO NOT go to college
Because this world doesn’t need researchers, music teachers, psychologists, historians, anthropologists, linguists, or journalists
No thinkers; counters, ONLY
@@temperances320 I had those people in my classes and the vast majority of them are NOT thinkers lmao
In my country you need a masters for teachîng
I applied to 400 jobs between 2017-18 and had many interviews. I finally got something then rapidly doubled my income. I had been a stay-at-home mom and had a big gap. 100 isn’t nearly enough.
Making TikTok videos to survive with a $50,000 college degree is now the new American Dream, what a collapse.