MIND BLOWING: Generation Income Disparity by Age 25! (Average Salary in the United States by Age 25)

#income #inflation #personalfinance

VIDEO DESCRIPTION
Using U.S. Census Bureau and the U.S. Bureau of Labor Statistics, we can compare the average salary in us at age 25, adjusted for inflation, for Boomers ($74,000), Millennials ($70,000), and Gen Z ($56,000).

SOURCES CITED FOR THIS VIDEO

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[Austria]

He should have split GenX & GenY, because this sheet is very inaccurate.

[IndigoStarrAz]

I googled stats during the video and you're accurate. Well done!

[mariusfacktor]

I agree with the premise. Things were comparatively cheaper for boomers, but the salary numbers here are a bit cherrypicked. If you look at that same graph at 1:33 that says salary was $22k in 1984, it also says salary was $82k in 2022. Meaning that folks 25-35 make MORE in 2022 than they did in 1984, adjusted for inflation. The original chart's numbers for education and housing are probably correct. Boomers paid like $1k per semester (adjusted for inflation) whereas students today are paying $10k. And a house costed like $100k back then (adjusted for inflation) whereas it costs $300k today.

*Reason for rising cost of education:* The state used to pay 80% of the cost for public universities, but today the state only pays 20% and tuition covers the other 80%. This along with growing demand for higher education.

*Reason for rising cost of housing:* Millions of homes were built for the boomers by the generation before, but restrictive land-use policies were enacted which made building more homes illegal in many cities for the next generations.

[Dweeble]

Incorrect. At 25 I was BAF working my way through college. Now in middle-age I am fairly comfortable and working towards a 7 fig investment portfolio.

[chrisdavisunofficial]

You did a good job presenting this and making it understandable to your target audience.

[chuckschilling]

As a boomer, I can say making 74, 000 at 25 was not realistic...perhaps adjusted for inflation explains it.

[AveryBlackman]

I noticed the chart doesn't mention race. 🤔

[Jaguar]

That took a long time to explain a simple chart