Millennials

[AshG]

@825VOL this actually happened because of the space race. Education went from being about creating functional adult contributors to society to being about beating the Ruskies. The prevailing attitude in Washington was that the only way to do this involved funneling students to college for more advanced degrees. We'd simply create more rocket scientists than Russia had! Hahahahahaha!

Then people saw the dollar signs and kept it up after we won the space race.

As my PhD advisor told me, and I've found it holds true: "If you want to sleep well, be a professor. If you want to eat well, be an administrator." Yep.

But I digress from your point, with which I wholeheartedly agree. High schools should produce students that are ready for businesses to easily train, or be able to go right into the manual labor workforce. They aren't. But damn if our kids aren't world champions at filling in test bubbles.

 

[Wafflestomper]

My experience has been that employers don't care if you got your degree from ETSU or Vanderbilt unless the school has a well-known program in the field you want a job in. You'd probably be better off getting a degree from a state school and having someone coach you on job interviews. Certainly something to think about before spending a quarter million dollars on a degree.

 

[SpaceCoastVol]

Hmmm... so you make $100k and you’ve paid down $70k in debts in the last year. So if you’re contributing to your 401k and you’re paying taxes you’re living on around $10k a year?

If that's the case, he should be lauded.

 

[NorthDallas40]

Yes, I mentioned that a lot of us have 100K+ in loans and SpaceCoast seemed to be implying "well if you hadn't spent so much on your phone..." which wouldn't change anything. You're right, and I'm also (IMHO) pretty low-maintenance and don't like owing money, so a lot of my income just goes to loans and living expenses.

Good for you if you’re 28 and debt free and making $100k!

 

[NorthDallas40]

If that's the case, he should be lauded.

I just gave him props for being 28, making $100k +, and being debt free. That’s a helluva feat.

 

[NashVol11]

Good for you if you’re 28 and debt free and making $100k!

Not debt free, I paid my loans down by 70K but still have plenty left to pay

 

[VolStrom]

Not debt free, I paid my loans down by 70K but still have plenty left to pay

If you're 28 and making a $100k+ you got your monies worth from your degree, congrats. A Russian literature major is not going to pay your bills much less your student loans. I honestly don't understand how some people can't see that?

 

[NorthDallas40]

Not debt free, I paid my loans down by 70K but still have plenty left to pay

 

[AshG]

A Russian literature major is not going to pay your bills much less your student loans. I honestly don't understand how some people can't see that?

Life is not about the accumulation of wealth, and most of those who go into niche subject study know they will have a hard road ahead and still take that step willingly. World history has shown us time and again that a grounding in the arts is critical for the development of critical thinking skills. From a more practical standpoint, and speaking from experience, pre-med, pre-law, and several engineering disciplines recruit from the liberal arts (and more specifically from performance arts) because of the significantly higher development of skills that benefit doctors, lawyers, and engineers.

We used to joking call POTSMB the Pride of the College of Engineering.

It's not all about the bank account.

 

[VolStrom]

Life is not about the accumulation of wealth, and most of those who go into niche subject study know they will have a hard road ahead and still take that step willingly. World history has shown us time and again that a grounding in the arts is critical for the development of critical thinking skills. From a more practical standpoint, and speaking from experience, pre-med, pre-law, and several engineering disciplines recruit from the liberal arts (and more specifically from performance arts) because of the significantly higher development of skills that benefit doctors, lawyers, and engineers.

We used to joking call POTSMB the Pride of the College of Engineering.

It's not all about the bank account.

I struggle with how to answer you. I couldn't disagree more about the arts connection to the science field. Perhaps some genius types are also accomplished musicians, but no engineer I ever worked with could play a tune, draw, recite poetry or do anything that was considered part of the arts.

 

[hndog609]

It's not all about the bank account.

Fair enough but it's not like there's a dearth of those that might go into college with that idea only to be sorely disappointed and bitter about the reality that comes later.

 

[Rickyvol77]

Life is not about the accumulation of wealth, and most of those who go into niche subject study know they will have a hard road ahead and still take that step willingly. World history has shown us time and again that a grounding in the arts is critical for the development of critical thinking skills. From a more practical standpoint, and speaking from experience, pre-med, pre-law, and several engineering disciplines recruit from the liberal arts (and more specifically from performance arts) because of the significantly higher development of skills that benefit doctors, lawyers, and engineers.

We used to joking call POTSMB the Pride of the College of Engineering.

It's not all about the bank account.

Lmao then quit complaining about the stuff you have even if life “isn’t about wealth”

Life is about wealth because you make smart decisions to take care of your family and to do things you want to in life. The ones who make poor life choices or are too feelings oriented are the ones complaining about fairness and equality while they are jealous and want other people’s money who actually did do the right things

 

[1972 Grad]

I struggle with how to answer you. I couldn't disagree more about the arts connection to the science field. Perhaps some genius types are also accomplished musicians, but no engineer I ever worked with could play a tune, draw, recite poetry or do anything that was considered part of the arts.

I usually don't respond to him because he seems like a decent guy , but I disagree with a lot that he says. I usually decide that whatever I am thinking will sound too mean, so I don't respond. Kind of Luther light. I don't mind saying mean things to some of the a-holes on here. We all know who they are.

 

[VolStrom]

I usually don't respond to him because he seems like a decent guy , but I disagree with a lot that he says. I usually decide that whatever I am thinking will sound too mean, so I don't respond. Kind of Luther light. I don't mind saying mean things to some of the a-holes on here. We all know who they are.

I was thinking the exact same thing, you're a brother from a different mother.

 

[NorthDallas40]

@825VOL this actually happened because of the space race. Education went from being about creating functional adult contributors to society to being about beating the Ruskies. The prevailing attitude in Washington was that the only way to do this involved funneling students to college for more advanced degrees. We'd simply create more rocket scientists than Russia had! Hahahahahaha!

Then people saw the dollar signs and kept it up after we won the space race.

As my PhD advisor told me, and I've found it holds true: "If you want to sleep well, be a professor. If you want to eat well, be an administrator." Yep.

But I digress from your point, with which I wholeheartedly agree. High schools should produce students that are ready for businesses to easily train, or be able to go right into the manual labor workforce. They aren't. But damn if our kids aren't world champions at filling in test bubbles.

If you want to sleep and eat well, get a stem degree. And you can teach at community college with it too if you want to get your teaching jollies off.

 

[AshG]

If you want to sleep and eat well, get a stem degree. And you can teach at community college with it too if you want to get your teaching jollies off.

No disagreement there.

 

[SpaceCoastVol]

I was thinking the exact same thing, you're a brother from a different mother.

I'm on board with that as well. I think that particular wisdom comes with mileage.

 

[05_never_again]

The position of universities is not supposed to be job training. That's a very recent development in the thousand year plus history of higher education. Universities exist to maintain and expand the wealth of knowledge required for society to function appropriately.

Are there fields that leave me scratching my head? Absolutely. But those fields - gender studies, women's studies, [insert race here] studies - exist because there's actual demand for experts. Do well and publish and a political party or think tank will pick you up for $150k to help inform how to reach and interact with those specific populations. But does every bloody University need a [topic] studies program? No, there's just not that much demand.

My dissertation spends quite a bit of time discussing the role of the community college. They are definitely the right way to go for most people. If more people got an associate's degree in a practical field, it would lower the cost of University for those looking for a more specialized and in depth education.

I'm not sure about a demand for experts in those fields. There is, however, a demand from people who want degrees in those "subjects." And given that the federal government guarantees the loans and they can't be discharged in a bankruptcy, lenders will continue to loan people money for them.

 

[Purple Tiger]

I struggle with how to answer you. I couldn't disagree more about the arts connection to the science field. Perhaps some genius types are also accomplished musicians, but no engineer I ever worked with could play a tune, draw, recite poetry or do anything that was considered part of the arts.

Leonardo di Vinci is certainly an exception to your example. Also, Einstein disagrees with you....
Einstein On Creative Thinking: Music and the Intuitive Art of Scientific Imagination

 

[Rasputin_Vol]

Yeah, let's take a dump on the millennials, but look at the dumpster fire these Boomers have turned out to be.

50% Of Millennials Think They Only Need $300,000 To Retire | ZeroHedge

This has got to be one of the all time best forthcoming wakeup calls we've ever seen. A new survey published by Acorns last week revealed that half of millennials think they'll need just $300,000 to "retire comfortably".

As the piece notes, this is obviously a fraction of what they will actually need to retire in comfort.

Gen X and Gen Z had slightly higher estimates, guessing that they would need $500,000 to retire, while boomers have a clearer picture and understand they would need closer to $750,000 to retire.

Their $750,000 estimate “is much more than they’ve actually saved in all their retirement accounts,” she said about boomers, who have an average retirement account balance of just $200,000.

 

[SpaceCoastVol]

Yeah, let's take a dump on the millennials, but look at the dumpster fire these Boomers have turned out to be.

50% Of Millennials Think They Only Need $300,000 To Retire | ZeroHedge

I don't follow your rant. While Boomers might have only saved on average $200K, their estimate of what it takes to comfortably retire is much closer to the actual requirement. Not having saved enough is one thing, but their perception of what is needed is another. Millennials on the other hand, have no clue about the requirement and will more than likely not save enough due to that lack of situational awareness. That being said, they will grow up someday.

 

[NorthDallas40]

I don't follow your rant. While Boomers might have only saved on average $200K, their estimate of what it takes to comfortably retire is much closer to the actual requirement. Not having saved enough is one thing, but their perception of what is needed is another. Millennials on the other hand, have no clue about the requirement and will more than likely not save enough due to that lack of situational awareness. That being said, they will grow up someday.

Yeah I thought it was a pretty ignorant hot take too and typical of his whole butt hurt angst going on right now.

If anything it shows literally how ignorant millenials are on finance and the time value of money.

 

[DC_Vol]

I don't follow your rant. While Boomers might have only saved on average $200K, their estimate of what it takes to comfortably retire is much closer to the actual requirement. Not having saved enough is one thing, but their perception of what is needed is another. Millennials on the other hand, have no clue about the requirement and will more than likely not save enough due to that lack of situational awareness. That being said, they will grow up someday.

Maybe I’m just conservative, but I would think you need at least a couple million to retire comfortably these days. You can chew through 100k pretty easily in a year.

Edit: not to mention additional health care costs and potential late life care.

 

[NorthDallas40]

Maybe I’m just conservative, but I would think you need at least a couple million to retire comfortably these days. You can chew through 100k pretty easily in a year.

Edit: not to mention additional health care costs and potential late life care.

$2M is a magical number that seems to keep popping up anytime I run any simulations. Especially if you want to retire pre Social Security

 

[SpaceCoastVol]

Maybe I’m just conservative, but I would think you need at least a couple million to retire comfortably these days. You can chew through 100k pretty easily in a year.

Edit: not to mention additional health care costs and potential late life care.

I agree, but within the confines of his rant, it clearly shows that Boomers have a better grasp on retirement finances. Also, if you look at the chart, Gen X and Z are equally clueless but they are farther down the road than the Millennials. Ras has a lot of vision clouding vitriol wrt to boomers.