Are Millennials Killing The Economy? 

Michael Hatfield Didn’t think of it like that, guess I am the bad guy 😜

Common you can get a new one in 2 years when that one depreciates to $3500!

@WeeStrom CO Guy some really do drop down low. jags, luxury cars, chrysler/dodge products that are plagued with problems. The used cars people scream are junk do not buy in the used market.

It be like that sometimes

I thought the millennials stimulated the economy with over one trillion dollars? Is there not a student loan debt pandemic?

Juan T I’ve seen it once before. Just once.

What do now?

Dave Ramsey stands for the truth. That's why we love him. He keeps it 💯💯

Im just as surpised as you are, some of them actualy have a brain!

Maybe because you guys are irrelevant? Seriously you're generation was just mopey and lost

The Job market crashs* Millenials: *suprised pikachu face*

Concur. I bought two houses that were cheaper than my annual income. My dad was a truck driver, my mom a typist. I learned more from Managerial Finance, YT, and guys like Dave than my family. A smooth economy is better than the boom and bust cycles of the past. Get it together America. Kudos to millennials that understand what life is supposed to look like. Gen X here.

The saddest part is how so many people at these corporations couldn’t put two and two together and realize if you underpay an entire generation, you’re the one screwing up the economy! Even Ford knew he had to pay his employees a living wage to be able to afford the product he made.

Lololololol

If your wages are stagnant, then you’re not good at your job, because if you were, you would get a raise and get promoted. I and everyone else I know get a raise every year.

And I'm a millennial that likes buying a car just higher than my pay

Best fun affordable car mx5ND heheh that makes two of us 😂

Amen sister!

amen!

good for you. you're smart.

It’s bad for the elders who made mistakes and now want the young to be as miserable as they are. Misery loves company.

@@empowertheyoung4023 That's why they blame us for everything including the stuff that was really their fault. They love to stand on that high hill and belittle us to make themselves feel superior; it's blankets their own failures in life.

Literally everything is a bad thing about millennial. Eating avocados and taking selfies are bad things, apparently. Why? Don't ask, stupid millennial.

Its call " learning from your mistakes" or "be better than me" ya know the terms elderly and parents throw at us every day we fuq up at something. Lol

It's sort of like when you feel bad at a party because someone else says they dont drink. Millennials make boomers feel guilty for being dumb and so boomers have to convince us that were irresponsible.

Dont forget housing

Also don't forget free health care for all illegal immigrants

Students loans are a personal choice. Just like anything else.

@@user-lw7rp4eb3k true. But, If I sold cars and was able to give anyone that walked in the door a no questions asked loan (from the government) that would be paid to me regardless of the quality of car? Doesn't that sound shady? Regardless if you think it was a personal choice, an entire generation of 18-19 year old kids (because they were kids) were taken advantage of and its ruining their lives and our economy.

More like 50% is housing, 25% taxes and insurance and 25% student loans leaving 0 percent resulting in credit card debt!

Megan Jensen You’re statement is 100% true

B Dan is she lying ?

yeah this is what happens when previous generations spend like there is no tomorrow, prices go up...they should go down naturally if (when) millenials decide to show bommers a middle finger and let them work until they die and give them nothing

@B Dan Listen to Dave at 5:12

I feel like the housing market is bound to crash again. Every home is ridiculously expensive, I don’t know anyone my age that wants to buy a house or that would be able to anytime soon. It takes years to save up for one and I don’t think that many people want to put that much money to the side for that long for something they could lose so easily as many did in 2008.

How dare you contribute to your non-company-matching 401k instead of buying literal metric tons of avocados and eggs benedicts. Shame! 🤪

Whatcha gonna do? Eat some toast?! I know that's what I'mma about to do

Now I want some avocado toast 🤔😂.

Heck if I hear 'millenial' one more time 🤦

Hehe and why the hate on avocados? My grocery store sells them for .99 cents each sometimes. $4 or $5 out of the grocery budget for some avocados seems like good sense to me!

😂

droptozro kill the economy I love it 😎

I recently bought a home. Luckily they are affordable in my area. For some buying a home may be good long term. For others it is a death sentence. 20 year mortgage I plan paying off in 15 which will still be cheaper as rent prices keep going up. Some can't even keep up with rent inflation anymore

I bought a small house that people always refer to as a starter home. Frankly, I want to live here and live small forever. All the creature comforts without overextending myself feels like the recipe for contentment.

k tee I need to convince my wife we have to move from California. I wish homes started at that price but it’s more like 550-600k for a (starter) modest area. The better homes and neighborhoods are between 700-800k. Which I consider upper middle class. Only real affordable housing would be a 2hr commute with traffic out in the desert areas and those are 300-400k. Dumb

@@rp523 that's the right idea.

@@Aku112811 I live in Oregon and it's slowly turning into California. They sell their homes down there for millions and move here and buy up the housing market which has been driving up home prices everywhere and not just Portland. Cali folks have no problem buying a mcmansion in Albany and commuting an hour and a half to portland for work. Its freaking crazy!

Danielle B. That is EXACTLY what I was thinking!!

Yes, I definitely learned my lesson.

Bingo 🙏

Trust the_process I sure am! I also watched my parents lose everything during the Great Recession and am determined to not go through that!

RaFari1119 Bee whatever floats your boat

I am stingy i am saving for land so i can wear shoes with several holes in them.

Woman, Dave always supports millennials because you have learnt from my generations mistakes.⭐️

And also.. public places are becomin more and more dangerous. Some of us would rather spend time home watchin Netflix/Hulu instead of goin out😝

Doesn't matter how high the savings rate- imagine how expensive things will be in 30-40 years when Millennials try to retire with no pensions and a bankrupt SS system. Imagine how expensive healthcare will be by then- one illness can wipe out a lifetime of "being frugal". Even 20% of the median 45K-50K income won't retire you.

Right on the money... no pun intended... experiences and trips is where most of my big spending goes as well... forces me to save bc the excitement is even in the anticipation

lub xtpf how?

Yes, I'm close to being done as well with my 3 month. I'll be in shape to start saving for a home. Big purchases are already laid out in that I have an idea how I will pay for them

Way to go!

Older people don't want to take responsibility for their plastic economy.

Imagine a time where you could get a degree for 1/20th the cost today and it guaranteed you a job. To put things in perspective... my stepdad bought his property where I live in 1992 for $100,000. He sold it in 2014 for $950,000. The average house where I live is $550,000. “Well you should just move” ... maybe but this is where all my friends families, job, connections are and don’t feel I should have to leave all of that just because I was born 20 years late.

@@aplacetobewithmythoughts7428 exactly

@@aplacetobewithmythoughts7428 1/20th? Talk about some serious hyperbole. That $850K spread is highly unusual in most markets also. Furthermore, sometimes you have to move to get higher paying jobs. Its not something new to your generation. Its what grown ups do.

@@jimdandy8996 Actually the cost of four year public college has increased 3,800% since 1964 (taking into consideration inflation). So if anything my number was grossly conservative. You could do some research on your own perhaps? It's what adults do.

Hu Kares Heyyyy I still have my gym shorts from high school lol! No judgment here!

3 years here..

I just spent my first 30$ on clothing this year from amazon and I got 10shirts 4 deodorants and gell for all that.

sergio perez what the heck?!?! You’ve mastered shopping!

I'm still wearing the same clothes from highschool. I'm 24. Just bought some boxers because some of the highschool ones finally ripped.

Awesome name !

Kinda silly to save for retirement unless your very close to retirement. US gov't has $23T in debt, about $70T in unfunded liabilities and is printing about $120B to buy its own debt to prevent interest rates from soaring. Clearly the gov't will devalue the dollar as has been doing for a long time. Since 2000, the dollar has already lost about 1/3 of its value, and the real inflation rate is close to 4%. so if you save 1000 today, it will only be worth about half $500 in about 18 years. Rate of return in low risk investments (ie AAA bonds) is about 1%, so its not keeping up with inflation. FWIW: if you not already retired or about to retire very soon, you never be able to retire. Many that are in retirement today will have to re-enter the workforce as savings evaporate from inflation and entitlements are not adjusted to keep up with inflation.

@@guytech7310 anyone savvy in basic long term stocks can make 10% average yearly

me too man. Senior millennial here

😂 senior millennial! I’m going to use that

Younger millennial here late 20s, I'm not quite there I have close to 42% of my income on savings. My hope is to get 50% this year.

30 years old. I save 17% of income towards retirement. Feel pretty good and have 5 months of income saved in my emergency fund. Glad I found Dave.

Mike Denzler what is a senior millennial?

Seeing how fast food and check out lines have people who are far too old to be working jobs like that because they have too.. Yeah its worked out real well also the fact like 47% of boomers have ZERO retirement.

Worked out great for them. Spending everything they make and not saving for retirement so when they reach retirement age they cannot retire. Just sad.

@@Cody_Ramer But they smoked a lot of killer bud and drank the bar closed! Partied hard dude!

'Trickle down' economics doesn't work. It is more like the rich pissing on everyone else...

It hasn't turned out yet. That's what the gen X/millennials are saving for. We know Social Security is bankrupt.

Yeah, I don't know how that brings them satisfaction....critizisizing a generation you raised....how exactly does that make you look good?

Ruthof Moab right! I understand their are some bad apples, but like Dave says every generation has them! I agree.

Raul J. Gomez . Hi in which baby step are you?

Hector Pollo hi! I’m documenting my debt free journey on RU-vid and I’ve been rocking baby step 2 the past year. Actually, it’s been rocking me. Lol. It’s been hard. But staying in the plan!

@@ruthofmoab8616 ma'am....you should meet my mother. All she does is criticize me....but NEVER criticizes her own parenting habits... My parents generation were fools...and I dont say that just to be mean.

Bingo. Your like me...I'm 41 and I much rather spend my money on traveling than on things.

We just trynna get these dividends ya feel 🥺📈

Gen Z will get theirs in a decade or so

its those pesky baby boomers who mostly had jobs for life, affordable housing, final salary pensions and homes that have in some cases more than tripled in value - the same people who vote for morons and don't give the millennial kids a chance - how is that fair.

@@yanayala1493 Them dividend paycheck though, each cent gives me so much joy!

@@shortchubbyneckbeard1681 Hahah Gen Zs are booming! So many Gen Z entrepreneurs, they are woke!

kiera davis Selfish! 😉

Good point

Yall are whatever they say yall "are" lol

Media can't even make their minds up of what years the millennials were born in....constantly changing the years born

Whatever fits the media narrative for the day.

Ru secretly Graham Stephen? 😂

Plus the irony of calling us selfie obsessed when baby boomers plasterv pictures of themselves on every square inch of their houses.

I'm a millennial and never heard of such a thing, and God forbid someone wants to be healthier?

I was born in the UK 70 years ago. Lived in SoCal for 25 years. Bought my little 1350 sq ft house back then. I love it here I have friends of all races and cultures, great places to eat, good climate, and 20 mins drive to beach. Not sure why so many dislike CA. Sure we pay higher taxes but it is a good place to live. By the way what’s wrong with avocado toast?

I don't even know where it came from, I had never even heard of avocado toast until they started complaining about it.

Amen

now we are in a huge bubble and will pop when we are their age through trillions of debt, constant wars overseas and destruction of the dollar. The boomer generation was the worst generation of them all and it's probably only down hill from here because kids learn from their parents.

It's actually really good and cheap to make at home for a fraction of the price.

Benito Aguilar Neither have I. I’ve also only spent $1.50 at Starbucks, and even then it’s because that was the only place open at the hospital 10 years ago.

@@matthew8153 ok now that's awesome

I'm here.

@gooker wow😅😅😅

Savings isn't very good for the economy. It's pretty much 0 velocity. Investing it puts it supply side, but without demand it has low velocity.

Consumption is one of the three ways a country can sustain growth...

Yup! Money has to remain in circulation in order for the elites to kee to control over us. The POINT of our economy is that money is constantly flowing BACK into the hands of major corporations and CEOs.... And then they buy yachts with it ;)

Cfergsthebest only when you have an economy based on consumption.

I just think we can’t win... if we save we’re to blame, if we spend too much, then we’re to blame. We’re just an easy scapegoat for them

Sarcasm at its absolute best 😂

Great for you

$98K-$24K std deduction-$4K (15% SS Exemption)= $70K, 4 Kids = $8K child tax credit, $0 taxes

??? 25%+ Taxes, at ~$100K/yr, I pay no Fed taxes You need to look at that, 8 states have no state taxes

@@aolvaar8792 no state income tax means a lot higher property and sales taxes.

Good for you, I’m a gen X’er who did the same thing. Yes, houses were cheaper in the early 90’s but average mortgage interest rates were 14% making a 30 year payout on a $150,000 house over $640,000. I gambled on an ARM and won in the long run by paying off early and locking in at what was considered a low rate in ‘99 at 6.2%. Keep everything diverse as far as investments and try to come up with the scratch for a rental. That passive income is like a pension.

Say no to debt!!!

That's what I just said..I think it's Gen Z that are the smarter ones..not Gen Y/Millennials.

Luuuuuke 👍

Luke Mejia You’re a millennial, gen z starts at 2001.

Sofia97 Yes that’s pretty spot on. I wasn’t coherent for 9/11 and was told that’s the deciding factor. Was born at the very end of 97’.

Absolutely.

@@cgasucks HA!

I agree this article is trying attack Millennials. When most of us has our stuff together.

Agree. We're trying to do the right thing. Seems we're similar to our grandparents generation.

who destroyed our (fake) economy be spiraling debt, worthless dollar, and constant war overseas, etc?

You got to be smarter than that if you've been following him for a little while.

@@smarke76 Not true at all. Dave is an incredibly smart dude, but he still shows some bias against millennials sometimes and occasionally can have a pretty one dimensional perspective on certain issues that this generation faces and has been facing. In fact 2:50 is a great example. That's true of literally every generation, perhaps even more so. It's just that the internet, increases in global activism, and the current mess that is politics makes it look like a huge portion of millennials are either SJWs or complete idiots (despite just being a very vocal minority).

Same. I was waiting for it and am surprised that he basically praised us. Lol

Same

Wrong. It's called communisn.

Richard Dixon but I also make 80 cents to every man’s dollar so there’s that too

Richard Dixon I never said I hate men, and you picked only one niche profession (medical). and the wage correlation is based on similar background/skills/experience. Comparing a woman in college’s wage to a man who isn’t in college is invalid because they have two different backgrounds, the woman has a higher educational background and therefore needs to be compared to other men with a college degree as well.

Richard Dixon also the only reason I commented was to get views for my own channel, I’m confused as to why you jumped in to compliment me then proceeded to try to talk down on me in the following message. and provided inaccurate and irrelevant information at that 😂 have a great day

@@AboutAysha Ignore him. He is baiting you.

You chose to go to college. So pay those loans back...lol

@@JK20239 You have a good point Josh. But I think a big part of the problem is parents and teachers putting massive amount of pressure on kids to go to college. In our culture, kids are led to believe that they can't be successful without a degree, and that couldn't be further from the truth.

Sam Levine - Personal Finance plus schools lie and 18 year olds are not mature enough to make these decisions. Our parents and society told us to go to school.

If more than half the class fails a test is it the students fault or the teachers?

We were told in a school assembly that if you get a degree you will make a million dollars more in your life, and if you don't go right after high school many scholarships won't be available and you probably won't get to go. In addition my high school economics teacher said "when you get out of college you will have student loans but that's ok that's the good kind of debt." Naturally my teenage self believed these lies.

I completely agree. Whoever we are we should assist in the solution. Obviously there’s a problem...

Agree. We're all in this together.

dachicagoan That’s because Boomers blame anybody but themselves

Boomers blame us for everything. This article is just another example.

Who was it that brought us into trillions of dollars of debt and endless wars overseas with no benefit to OUR citizens and economy? Boomers or any other generation has no right to blame millenials. Total hypocrisy

A higher percentage are saving more then previous generations however thats just a percentage. There are alot of people out there buying $5 cups of coffee everyday.

I’m 25 but I only have 10k saved 😞

@@pspspsp1010 I am 30 bud, maybe have 30k in bank, another 30 in retirement. I was where you were. Just keep going.

I am a millenial and I am very frugal, and a good saver but I kind of agree that most of the group I hang around including my friends and family are not very good at saving money.

A news?

And they still believe in trickle down. Large companies who get tax breaks just use that money to buy back their own stocks and merge with other giant businesses. It's the reason Disney now owns half the media. They bought Marvel, Fox, ABC, ESPN, Lucasfilm, etc. Maybe it's time to start taxing Disney and other would be monopolies. Giving giant megacorporations tax cuts clearly isn't working.