Interesting post. I have rentals in a millennial area and everyday I am shocked at the attitudes of these young people. Many have "trust funds" and toss that term around often. I guess they are trying to say, "I don't need to do what others do to earn a living because I have a trust fund". These kids are spoiled and have an entitlement mentality.
For example, I usually give these tenants a discount off of their rent to shovel snow. They want the discount, BUT they don't want to shovel the snow!!! The constant complaining is so annoying to hear. These kids don't know what hard work is and never probably will.
Just my 2 cents.
I am technically apart of the millennial generation (33) and I would agree , there are alot of people on my generation that are entitled. Entitled because they have money from parents, or entitled as in I don't want to work, I can just jump from unemployment to disability and welfare and live an ok life.
But rest assured there are alot out there in that age bracket, that are hard working and trying to better themselves.
But the "entitled" mentality, especially with renters, and younger people in general, is certainly there more than previous generations.
However, I will also say the article does make a point about my generation.
We don't rely on, or are loyal to companies or employers, because we don't have confidence they will do the same when it comes down to it. So we switch jobs easily, and believe life is more than, working 40 years, retiring for 10 and then dropping dead.
We want a work/life balance. Hence, why I am on this forum.
Making sweeping generalizations about people because of their age makes about as much sense as taking financial advice from your daily horoscope.
Age shouldn't be used by one group to cast judgments on another. Nor should it be used as an excuse for one's own poor circumstances.
Millennial's look at their parents,the baby boomer generation, and see them working like crazy their whole lives to keep up with the Jones and that's not the life they want. They decide that the price is too high. They don't have time for their kids or to do the things they want to do, and even after many years of hard work, they see their parents deeply in debt and not able to retire on time. Why would they want their parent's life. What is that teaching them about work? They don't know how to dream, how to set goals and go after them, so they are lazy because "What's the point of working if the government will pay me to be lazy?"
There is a statistic that "98% of people will end up dead or dead broke - depending on their family, friends, or the federal government for their main source of income by the age of 65 (danijohnson.com)!" That right there is enough motivation to make me look at what all of my peers are doing and do the exact opposite! I don't want their destiny. I want to be in the 2% who is alive & well, and financially independent at 65. That's why I like this community so much. BP is a group of people who don't just talk about what they want in life, they go out and make it happen! Since you become the average of the people you surround yourself with, this is the perfect online community to be a part of because there are a lot of 2%ers on here! : )
The article mentions Millennials following the "American prescription for success" which I think is key to why my (millennial) generation is in our current situation. If we use the prescription analogy, one could argue that there are constantly new and better drugs being developed and prescribed while we uncover the down sides to the old drugs we've been prescribed for years. The drugs we thought were helping us. Maybe the prescription that worked so effectively in the past needs some tweaking.
not sure where these millenials are from. I am sure its different by region of the country.
I am 28. From michigan.
I was in middle school when 9/11 happened
Graduated high school in 2006. 20 of the 24 males in my grade joined the Armed Forces. Majority went to iraq or Afganistan. Some did multiple tours.
In 2008 we were faced with the worst recession since the Great Depression. We watched as our parents lost their jobs and then their homes.
We struggled,we hustled,we survived, and now 7 years later , we see the world differently than our parents.
Yes this generation seem to be much more resistance to the greater effort required to have the American Dream. In many ways the American Dream is becoming the American Nightmare and this generation had a front row seat watching this play out. The obvious conclusion is, 'Hard work and taking it easy give you the same result in the end, so why should I kill myself." So now they want the instant gratification without effort because life keep moving faster and faster and the goods will be delivered to them with just a click of the mouse.
America is becoming more and more dysfunctional and taking it people down with it. It is in the end that the richer are getting richer and richer and the poor are getting poorer and poorer. If this generation are so complacent and let 'What will be will be", it is going to be a rough ride.
I. am betting (praying) that some great person from the millennials and have the insight, drive, and will to lead them to a brighter day. I see many who can, including some in my family, but will they dare? This type of change call for much thought, time, and sacrifice. Time will tell.
Free eBook from BiggerPockets!
Join BiggerPockets and get The Ultimate Beginner's Guide to Real Estate Investing for FREE - read by more than 100,000 people - AND get exclusive real estate investing tips, tricks and techniques delivered straight to your inbox twice weekly!
- Actionable advice for getting started,
- Discover the 10 Most Lucrative Real Estate Niches,
- Learn how to get started with or without money,
- Explore Real-Life Strategies for Building Wealth,
- And a LOT more.
Sign up below to download the eBook for FREE today!
We hate spam just as much as you
You must be a BiggerPockets member to post on the forums
Join the world's largest, most open Real Estate Investing Community online, 100% free forever!