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‘Will I ever retire?’: millennials wonder what’s on the other side of middle age (www.theguardian.com)

submitted 2 months ago by [email protected] to c/[email protected]

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Claire*, 42, was always told: “Follow your dreams and the money will follow.” So that’s what she did. At 24, she opened a retail store with a friend in downtown Ottawa, Canada. She’d managed to save enough from a part-time government job during university to start the business without taking out a loan.

For many years, the store did well – they even opened a second location. Claire started to feel financially secure. “A few years ago I was like, wow, I actually might be able to do this until I retire,” she told me. “I’ll never be rich, but I have a really wonderful work-life balance and I’ll have enough.”

But in midlife, she can’t afford to buy a house, and she’s increasingly worried about what retirement would look like, or if it would even be possible. “Was I foolish to think this could work?” she now wonders.

She’s one of many millennials who, in their 40s, are panicking about the realities of midlife: financial precarity, housing insecurity, job instability and difficulty saving for the future. It’s a different kind of midlife crisis – less impulsive sports car purchase and more “will I ever retire?” In fact, a new survey of 1,000 millennials showed that 81% feel they can’t afford to have a midlife crisis. Our generation is the first to be downwardly mobile, at least in the US, and do less well than our parents financially. What will the next 40 years will look like?

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[–] [email protected] 57 points 2 months ago (1 children)

there are a whole class of humans that actually think; 'i had to suffer through student loans, everyone else should also'

[–] [email protected] 27 points 2 months ago (1 children)

The word "think" is doing a lot of heavy lifting there... plus how many conservative voters these days even have college degrees? The TV (or radio) man says to vote one way, so they do, end of the matter as far as they are concerned. (extraordinarily sadly, no /s on this one)

[–] [email protected] 31 points 2 months ago (1 children)

weirdly, its also older people who prolly paid <5k for their entire education whining about people getting 'handouts'.

[–] [email protected] 17 points 2 months ago

Exactly ^this. It makes sense to them that they "worked their way through college", ignoring how that is no longer possible.

Tbh I'm not a fan of just handing out money to the predatory banks who screwed students over with those loans either, but damn we should do something. Like maybe educate ourselves on a topic prior to banning people from doing it, possibly, hopefully?

And then they go and say "that's not how democracy works", except when you win the majority so hard that you even overcome the electoral college effect then they simply overthrow democracy itself.:-(

There are indeed real facts, and real people, behind all those pithy sayings.