How hard is inflation going to hit, or has hit?

[Bonanza]

Today's generation has some blame to share. You can get ahead, but its neither fun or enjoyable.

oldest cheapest flip phone with no data, using an old TomTom throw away.

Installing an antenna for 3 channels and no wifi. Stopping at a starbucks or wherever to use your old laptop.

AC tombstone welding that rusty tacoma frame together.

Working every hour of overtime.

Back in the day people weren't paying for Subscriptions.

Your advice is so ungrounded in reality, so lacking in any semblance of truth or fact, that it's a meme. Let that sink in-- I'm being dead serious here: Let that sink in. What you've just posted is so laughably incorrect and misguided, that it is commonly referenced as "toxic boomer advice" and is an active internet meme. I laughed when I read it because I thought you were referencing the joke, but actually, and sadly, I think you genuinely think what you posted is advice to financial success.

Here you go, for more fun on the topic:

45 Absurd Pieces Of Advice From Baby Boomers Who Don’t Understand How The World Works Today

Okay, Boomer. I'll be sure to keep that in mind the next time it's 1985 again...

www.boredpanda.com

 

[arse_sidewards]

Today's generation has some blame to share. You can get ahead, but its neither fun or enjoyable.

oldest cheapest flip phone with no data, using an old TomTom throw away.

There's barely any cost savings to be had from doing that. You can get a refurb Iphone from 3yr ago for $200 and service for $25/mo

Installing an antenna for 3 channels and no wifi. Stopping at a starbucks or wherever to use your old laptop.

Just ditch the laptop

AC tombstone welding that rusty tacoma frame together.

Owning a Tacoma is a waste of money to begin with.

China boxes are cheaper than what the dumb old boomers who are selling that old iron want for a Tombstone

 

[Bogus One]

Your advice is so ungrounded in reality, so lacking in any semblance of truth or fact, that it's a meme. Let that sink in-- I'm being dead serious here: Let that sink in. What you've just posted is so laughably incorrect and misguided, that it is commonly referenced as "toxic boomer advice" and is an active internet meme. I laughed when I read it because I thought you were referencing the joke, but actually, and sadly, I think you genuinely think what you posted is advice to financial success.

Here you go, for more fun on the topic:

45 Absurd Pieces Of Advice From Baby Boomers Who Don’t Understand How The World Works Today

Okay, Boomer. I'll be sure to keep that in mind the next time it's 1985 again...

www.boredpanda.com

I've seen memes about "move jobs every 2-3 years to make the best salary you can". I'm old school. Every new job means new Health Insurance, possibly being a major pita. 401(k)? another pita, potentially (oh, sorry, I won't start "that" whole conversation). I've been in the Commercial Construction World for 34 years. Worked for FOUR companies. Could I have made a few more bucks here and there if I moved around? Probably. Was I still employed when everything tanked? Absolutely. Coworkers that bounce around? Gone.
Just sayin'
And for the fuckers that say "Your Co will find your replacement within 24 hours of your death." And?? Welcome to business, dumbass.

 

[clodhopper]

most of your post seems like you'd be much better served by railing against "collectivists" and rallying behind "individualists"
but how that realization is hidden away is entirely by design

Sure, those labels work as well. And while the "individualists" boast about thier separation from anything governmental, the "collectivists" are getting solidified in all the government positions of power and using the poorly detailed legislation to justify making new rules that will beat that "individualist" to the dirt. Meanwhile, that "individualist" is logging into Irate4x4 to bitch and complain about all the rules and costs those stupid "boomers" put in place.

 

[Provience]

Im not gonna bother debating guys like clodhoppers boomer word diarrhea in length because im at work. But the number of you guys that seem to think a 90 hour week or two jobs is a thing to strive for or an acceptable standard of living is ridiculous. Especially as my home and car are not some super luxury items. Its a 2 bed 1 bath in the sticks and a 15 year old mercury. And i have an extremely good job for the area. But still i come closer and closer to not being able to make it every day. To think things are anything other than to an unacceptable state at this point is ridiculous and frankly pathetic. Two jobs or work 1000 hours of overtime a year is fine? No wonder half y'all want to paste the roof with your brains.

that's how I bought my first house at 22 years old.

Much lower odds to walk into a situation where that's a thing if you just work 40 hours a week from 18-22 to have a house any days. Well, guess in your quality of life world, that would be more akin to walking out of college and landing a house and a job upon graduation

I've been a single income 1 job no O/T household for a while now, in large part to working a bunch of hours when I was young and able to operate on very little sleep

 

[Mikenike]

Today's generation has some blame to share. You can get ahead, but its neither fun or enjoyable.

oldest cheapest flip phone with no data, using an old TomTom throw away.

Installing an antenna for 3 channels and no wifi. Stopping at a starbucks or wherever to use your old laptop.

AC tombstone welding that rusty tacoma frame together.

Working every hour of overtime.

Back in the day people weren't paying for Subscriptions.

Talk about out of touch. Thats a fast ticket to the wanting to blow your brains out. Probably why boomers always seem like the most miserable bunch of assholes that ever drew breath. Not just the sheer entitlement most have but the way they all seem miserable and need to broadcast it to others. You can do very little in the modern world without some form of smartphone. And again with that stupid work every hour of overtime bullshit. THAT. IS. NOT. A. LIFE. Work to live not live to work.

 

[[486]]

Sure, those labels work as well. And while the "individualists" boast about thier separation from anything governmental, the "collectivists" are getting solidified in all the government positions of power and using the poorly detailed legislation to justify making new rules that will beat that "individualist" to the dirt. Meanwhile, that "individualist" is logging into Irate4x4 to bitch and complain about all the rules and costs those stupid "boomers" put in place.

okie dokie preacher man, best of luck to you
I'm sure the guy you vote in won't fall victim to human nature

 

[clodhopper]

Work to live not live to work.

No one is saying that is a bad plan. If living life is the most important, by all means, go ahead and do just that.

However, expecting to "work to live/not live to work" and then bitch/complain that you cant afford to buy a house or afford the nicest things in life...

 

[clodhopper]

okie dokie preacher man, best of luck to you
I'm sure the guy you vote in won't fall victim to human nature

Sorry, I missed your point. Human nature? I was talking about conservatives avoiding govt service like it is an ethical failure, and then complaining about the options available for leadership. What are you talking about?

 

[Mikenike]

that's how I bought my first house at 22 years old.

Much lower odds to walk into a situation where that's a thing if you just work 40 hours a week from 18-22 to have a house any days. Well, guess in your quality of life world, that would be more akin to walking out of college and landing a house and a job upon graduation

I've been a single income 1 job no O/T household for a while now, in large part to working a bunch of hours when I was young and able to operate on very little sleep

Yeah i bought my house in 2020 for very low interest. I didnt pay alot for it either. And i am fortunate to only work three hours of overtime a week(i skip lunch because i hate sandwiches and wont pay to eat lunch out). But i see people working those 15+ hours of overtime a week. Miserable. Never see their family. Barely able to walk upright in their 20s. Forgive me for wanting to still be able to walk upright when im 40 and be working on my third divorce like most people here.

 

[Mikenike]

No one is saying that is a bad plan. If living life is the most important, by all means, go ahead and do just that.

However, expecting to "work to live/not live to work" and then bitch/complain that you cant afford to buy a house or afford the nicest things in life...

I have a house. I have vehicles that i enjoy. But it doesn't make you any less out of touch with reality or frankly less retarded. Bet you are a joy if you consider life unimportant. Only get one. Tell me are you divorced? You strike me as a wife/family unimportant sort as well. Pretty much anything except licking your boss mans balls actually. Maybe two bossmen at a time since two jobs is such a great idea to you.

 

[TRINDU]

I've seen memes about "move jobs every 2-3 years to make the best salary you can". I'm old school. Every new job means new Health Insurance, possibly being a major pita. 401(k)? another pita, potentially (oh, sorry, I won't start "that" whole conversation). I've been in the Commercial Construction World for 34 years. Worked for FOUR companies. Could I have made a few more bucks here and there if I moved around? Probably. Was I still employed when everything tanked? Absolutely. Coworkers that bounce around? Gone.
Just sayin'
And for the fuckers that say "Your Co will find your replacement within 24 hours of your death." And?? Welcome to business, dumbass.

In the business for 34 years and never had the gumption to go out on your own? So bold.

 

[Bogus One]

In the business for 34 years and never had the gumption to go out on your own? So bold.

Why would I?
I’ve had fantastic success and have always afforded what I want. (Non Union, btw)
“Get off your ass and get to work”
And I don’t “live to work”

 

[Provience]

Yeah i bought my house in 2020 for very low interest. I didnt pay alot for it either. And i am fortunate to only work three hours of overtime a week(i skip lunch because i hate sandwiches and wont pay to eat lunch out). But i see people working those 15+ hours of overtime a week. Miserable. Never see their family. Barely able to walk upright in their 20s. Forgive me for wanting to still be able to walk upright when im 40 and be working on my third divorce like most people here.

No need to forgive anything, it goes along with earlier in the thread about how it is "impossible" to buy anything today and everybody who did it "before" simply had a better chance.

nevermind that it weren't ever an ideal time and even back then it took effort. If you also bought a house early in life, sounds like you are saying you did it buying something cheap, relative to your budget. Kudos, that's the way it works. Worked a couple years ago and will still work today. Since prices have gone up over the past 3 years, your cheap thing you bought is a steal now and you'd have to lower your standards again to buy something for a similar price today OR go ahead and pick up another job and pay the higher place for your current place.

that's no different than anytime, ever, in the fiat-era

 

[[486]]

Sorry, I missed your point. Human nature? I was talking about conservatives avoiding govt service like it is an ethical failure, and then complaining about the options available for leadership. What are you talking about?

nothing at all important, I'm sure yellow team will beat green team next year and then all will be saved
go team go

 

[_03_]

According to the googles, median household income in 2023 is $63K. $13.5 in 1977.

Also says average home price in 2023 is $413. $48 (median) in 1977.

So in 1977 it was a ratio of 3.5 yearly househould earnings per home price, and 6.5 in 2023

You may need to say this again a little louder for the rest of the class to hear.

The bubble is going to pop. The current status quo is unsustainable to most. One way, or another, there will be a correction. Cheap money for too long, has consequences.

 

[Provience]

Sure, those labels work as well. And while the "individualists" boast about thier separation from anything governmental, the "collectivists" are getting solidified in all the government positions of power and using the poorly detailed legislation to justify making new rules that will beat that "individualist" to the dirt. Meanwhile, that "individualist" is logging into Irate4x4 to bitch and complain about all the rules and costs those stupid "boomers" put in place.

working in the government is fairly effective at motivating people toward independence rational non-socio-paths, at least

 

[TRINDU]

Why would I?
I’ve had fantastic success and have always afforded what I want. (Non Union, btw)
“Get off your ass and get to work”
And I don’t “live to work”

So you became complacent.

Instead of looking at your boss(es), and wanting that success... you said 'this is fine'. Your financial credo is telling people to work harder to make someone else richer/successful.

 

[Provience]

You may need to say this again a little louder for the rest of the class to hear.

The bubble is going to pop. The current status quo is unsustainable to most. One way, or another, there will be a correction. Cheap money for too long, has consequences.

the bubble has popped, that is the now 6.5x salary for hard goods number. the pop was your dollar going away, see ya 50%

 

[_03_]

the bubble has popped, that is the now 6.5x salary for hard goods number. the pop was your dollar going away, see ya 50%

It has not "popped" yet. It's only the beginning of the bulge. Think 2000 and 2008 for the most recent examples of our lifetimes. There were great opportunities during these year, and subsequent years. "We've" learned nothing from history, because we want to forget, or erase it. Hedge yourself.

 

[Bogus One]

So you became complacent.

Instead of looking at your boss(es), and wanting that success... you said 'this is fine'. Your financial credo is telling people to work harder to make someone else richer/successful.

I’m the 3rd in charge at my company. I’m in charge of my subordinates salaries, and pay some of my subordinates more than I make. I’m OH, they make the Co money.
I’m more than comfortable and I’m good with that.
If that makes me complacent, whatever.
Are YOU happy with where you are?
I am. That’s all that matters to me.
We are on track for $165M in volume this fiscal. I’m a “General Superintendent”.
I busted my ass to get here and live as comfortably as I do.

Fuck you. “Complacent”

 

[Mikenike]

I’m the 3rd in charge at my company. I’m in charge of my subordinates salaries, and pay some of my subordinates more than I make. I’m OH, they make the Co money.
I’m more than comfortable and I’m good with that.
If that makes me complacent, whatever.
Are YOU happy with where you are?
I am. That’s all that matters to me.
We are on track for $165M in volume this fiscal. I’m a “General Superintendent”.
I busted my ass to get here and live as comfortably as I do.

Fuck you. “Complacent”

Dont you know youre supposed to work all the hours you can, give up your work life balance, or risk everything on a business that will possibly fail like 70% of small businesses do in their first year? (Sarcasm by the way because the boomer mindset here literally thinks you should)

 

[Clemson13]

i fucking earned everything i have, i wasn't given out down payment assistance like a lot of the younger folks on here. to encourage them to buy a house' hell i never paid enough interest to over come the standard deduction. i earned the extra money so that i could hopefully retire early and enjoy life. i have a bunch i work with that only work 40, but they are still working at 60 plus.

Wait, what down payment assistance did we young ones get Im pretty sure i haven't seem many on here going "Well daddy gave me 60k for a down payment.."

Fuck working over 2500hrs a year. Fuck retiring past 55.
I have a house, I have investments, im not working past 55. But I also know tons of folks who are ~25 who are in a way shittier spot than I was 5 yr ago.

SS is the one that chaps my ass, i get to pay 15-20k/yr in SS tax for the next 25 years. That's a the equivalent of a Mill if i got to use it to invest for myself, and I wont see a penny. If its still solvent, they will means test it and not give me shit. Fuck that ponzi scheme.

 

[clodhopper]

I have a house. I have vehicles that i enjoy. But it doesn't make you any less out of touch with reality or frankly less retarded. Bet you are a joy if you consider life unimportant. Only get one. Tell me are you divorced? You strike me as a wife/family unimportant sort as well. Pretty much anything except licking your boss mans balls actually. Maybe two bossmen at a time since two jobs is such a great idea to you.

Nice try loser. You are mixing up the various "boomers" in the thread. Never said 2 jobs are necessary.

Oh, been married 30 years to the same awesome wife and have 3 great kids. Multitasking. Learn it.

 

[clodhopper]

nothing at all important, I'm sure yellow team will beat green team next year and then all will be saved
go team go

Gotcha. You are very likely right, and the more crap that goes on, the more I am in the same camp. Fed level anyway. Local change is still possible and where effort needs to be placed.

Just kinda addressing the stupidity of cons who refuse to do anything for their community and just bitch about what comes to pass.

 

[TRINDU]

I’m the 3rd in charge at my company. I’m in charge of my subordinates salaries, and pay some of my subordinates more than I make. I’m OH, they make the Co money.
I’m more than comfortable and I’m good with that.
If that makes me complacent, whatever.
Are YOU happy with where you are?
I am. That’s all that matters to me.
We are on track for $165M in volume this fiscal. I’m a “General Superintendent”.
I busted my ass to get here and live as comfortably as I do.

Fuck you. “Complacent”

You seem very happy about titles and figures. The perfect little employee, good boomer.

 

[GonPostal]

In the business for 34 years and never had the gumption to go out on your own? So bold.

I stayed with PG&E for 35 years and at retirement I got a pension (transferable to my wife should I die first), medical, and a company matched 401k. I am financially set for life. Besides, I loved my job.

In my case, "bold" is over rated...

 

[TRINDU]

I stayed with PG&E for 35 years and at retirement I got a pension (transferable to my wife should I die first), medical, and a company matched 401k. I am financially set for life. Besides, I loved my job.

In my case, "bold" is over rated...

Getting a good job/career and putting in the time, is 'boomer' logic. It's what was pounded into us as kids. I'm not saying that's a bad thing depending on profession and goals, but definitely on the older generational side of thinking.

 

[Clemson13]

....Now people can have a 2 family income 200k ish and buy a 300k starter home......

Holy shit

I mean argue that 150-500K/yr is middle class every time the threads come up. But i base that on the "middle class" lifestyle.

Let me help you fools out. 200k isnt even close to a common house hold income. Especially outside of high cost of living areas.

Household Income Percentile Calculator, US - DQYDJ

Check your household income percentile vs. 2023's United States income distribution in this calculator. How does it rank: top 1%, median, or other?

dqydj.com

I did.

$77K home, 20% down = $61,600 financed @ 17% = $878/month on an income of $5,000
$400k home, 20% down = $320,000 financed @ 7% = $2,129/month on an income of $16,667

He may be wrong on most of this, but there is some merit to the math.

According to the googles, median household income in 2023 is $63K. $13.5 in 1977.

Also says average home price in 2023 is $413. $48 (median) in 1977.

So in 1977 it was a ratio of 3.5 yearly household earnings per home price, and 6.5 in 2023

That 2023 63k is avg individual income FYI.

Another way of looking at the median income & house price
1977: Avg interest rate around 9%, Median HHI of 16k
$48K home, 20% down = $38400 financed @ 9% = $309/month on an income of $1125 = ~27% gross

2023: Median HHI 75k
$400k home, 20% down = $320,000 financed @ 7% = $2,129/month on an income of $5200 = ~41% gross

Yeah, 1977 was a WAY better time to be buying a house.

 

[Provience]

It has not "popped" yet. It's only the beginning of the bulge. Think 2000 and 2008 for the most recent examples of our lifetimes. There were great opportunities during these year, and subsequent years. "We've" learned nothing from history, because we want to forget, or erase it. Hedge yourself.

what was 2020? 2023?