According to Galloway
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Young people at 30 are not doing as well as their parents did at 30...
https://moneywise.com/news/economy/theyre-not-having-kids-nyu-professor-scott-galloway
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Misleading claim. Half out-earn their parents. Certainly left-skewed curve so the average 30 year old is in fact doing better than their parents. Just not as much better as previous generations
According to a 2016 study from Harvard-based research initiative Opportunity Insights, over 90% of children born in the 1940s grew up to earn more than their parents at age 30. However, for children born in the 1980s, only half managed to outearn their parents.
They’ll end up, after a lot of drama, with the same formula they use every time they have a trifecta: take away health care and food assistance from low income families and use the money to fund tax cuts for their donors.
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We have some expectation that our economy will continue to perform at a postwar level. From 1945 until the 70's we were the preeminent industrial power in the world. The rest was decimated from the war. We've continued to do well through innovation. As long as we foster that I think we'll continue to do well. My daughter is doing just about as well as I was at her age. The difference is she has an MFA that will open more doors for her down the road.
I think it's much like my generation in that those who want to d well and set themselves up by developing in demand skills will do just fine.
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Misleading claim. Half out-earn their parents. Certainly left-skewed curve so the average 30 year old is in fact doing better than their parents. Just not as much better as previous generations
According to a 2016 study from Harvard-based research initiative Opportunity Insights, over 90% of children born in the 1940s grew up to earn more than their parents at age 30. However, for children born in the 1980s, only half managed to outearn their parents.
@jon-nyc said in According to Galloway:
Misleading claim. Half out-earn their parents. Certainly left-skewed curve so the average 30 year old is in fact doing better than their parents. Just not as much better as previous generations
According to a 2016 study from Harvard-based research initiative Opportunity Insights, over 90% of children born in the 1940s grew up to earn more than their parents at age 30. However, for children born in the 1980s, only half managed to outearn their parents.
In terms of steady dollars?
