The Real Reason Why Millennials are the Poorest Generation

I teach active investors how to get higher returns with less risk by learning how markets actually work.

TIMECODES
0:00 Video Overview
0:56 The Great Recession
6:30 The College Scam
7:45 Current National Debt
10:50 Largest Wealth Transfer, Ever

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I am not a CPA, attorney, or licensed financial advisor and the information in these videos shall not be construed as tax, legal, or financial advice from a qualified perspective. Linked items may create a financial benefit for Heresy Financial.

[growler]

Don’t count on younger generations inheriting wealth. If parents end up in care, the exorbitant costs can deplete wealth very quickly, with the winners being the care industry

[DorathyJoy]

Success depends on the actions or steps you take to achieve it. Building wealth involves developing good habits like regularly putting money away in intervals for solid investments. Financial management is a crucial topic that most tend to shy away from, and ends up haunting them in the near future.., I pray that anyone who reads this will be successful in life!!

[joshfrench]

As a millennial i stopped buying avocado toast like Dave Ramsey said and now I'm a millionaire!!

[idiotsavant]

Yeah.

We walked into the job market being offered $1 over minimum wage and were basically told we were lucky to have a job up until about 2016 when the economy suddenly picked up giving us about 3 years to make any money, then Covid, government printed off 7 Trillion out of thin air…then the inflation kicked in…

For us, the American dream is dead. If you haven’t bought a house by 30, you’re basically never going to own a home, buying your first home at 40 means you spent 30 years paying the house off, coming into retirement with no nest egg of saving. And also home prices are 2x higher than 2019 and the interest rate is now 4x higher than 2019 so yeah, the dream is gone.

[benmartin]

Don’t forget that for boomers when they were our age ( I’m 35 ) it was 2 years income to buy your family home and now it’s 10 years income to buy your family home
Wages are dogshit compared to prices

[stickyfingers]

So glad I realized 10 years ago that college is now a scam. Now I'm 30 with zero debt where most of my age group is deeply in debt.

[cherokeevolfusa]

A problem with that wealth transfer is that a lot of us don't have wealthy grandparents, have lots of cousins and don't have the capital to just buy a business from someone.
Plus, there is a lot of older people who intend to leave nothing for their families because "I pulled myself up with nothing, so can you."

[cloudiermonk]

Bs... 50 years ago I could have a pulse to get a job. No co pay. Raise 5 kids with a stay at home wife and still expect to do well and have a family vacation and new car every 10 to 15 years

[ADobbin]

Because we aren't paid enough compared to cost of stuff like food. Our decisions are not really our fault. We did what we were advised and told to do. Go to college, get a degree, and you will get a good high paying job. We followed the formula the adults told us to and it turned out we were lied to.

[DePalma.]

I’m gen x, Highschool drop out, no college…worked since I was 13.
25k in debt in 2010, paid it off by 2012…worked/saved…then closed on a small fixer upper in 2016, at 40yrs old.
Btw-I should mention that I was an active alcoholic from 13-27…so I might’ve had more success earlier, had I not been lol.

Point is…if I can do it, so can you…keep working, always look for a job that pays more, live frugally, save & prepare for when the housing market is more advantageous:)

[freedomfields]

I think youre missing the 30T in debt we will also be inheriting.

[upontheventura]

I am 44 and officially a Gen Xer- but I 100% vibe more with millennials and younger.... This generation has been utterly F-CKED. Unless you have rich parents (and /or) want to spend your life waiting for someone to die, to survive. And that is sick! it's amazing to be alive during this time. It is. alternatively interesting and horrifying. I have no parents and no inheritance and I am frankly grateful to be 1/2 way, or more) through my lifetime.. This is hell.

[dsk]

What happens to the wealth transfer if the gov decides to tax all money leaving boomers hands before it can go to younger peeps?

[__Dave__]

Technically we’re the poorest generation because we’re the youngest generation of those compared, meaning we haven’t had as much time to earn and invest. The other factors mentioned aren’t necessarily wrong, but age explains like 80% of the differential

[Psyntaur]

We're poor because of inflation. We don't earn near what previous generations earned for your average job. Since we earn less we have to finance almost everything, so saving is extremely slow. It took me 10 years to crawl out of debt by being as frugal as humanly possible and I don't even have kids. That's why we're poor. Inflation. Everything else is a footnote. The only way out is to fight like hell to get into a field that pays enough to offset the insane inflation we've had to deal with since square one. Investing isn't even a realistic option until you're out of the meat grinder.

[nicholasmartinez]

As a millennial who graduated in 09 I am so glad I made the irresponsible decision to put almost nothing down to buy a home in 2011. Fast forward to now, I have already sold that house and own another one paid off because of the low interest rate and house appreciation I was/am able to realize.

[HeritageStacking]

Im 48 and wasted the first 15 years of my adult life on drugs. Now i own a debt free home and have a second property. Along with about 50000 in investments for a total of about 270000 in assets. Even if you screw up hard for 15 years you can still turn it all around!

[jhenninger]

Boomers grew up in an era of population boom and growth, we have been declining for a decade amking it harder and harder to actually grow

[ljthirtyfiver]

I kinda slipped through the cracks by joining military but had to use my investment to live off once I got out so I have no debt and my career is paid off and now pays decent . But now I have to restart my investment/retirement over in the first half of my 30s. But It’s good to have no debt. I am also looking for a good side hustle

[JimV]

I love that my success comes from the fact that I went against the grain and didn't go to college like everyone told me to. I guarantee I would have been worse off having done so.