Random Thoughts on a Slow Husker Day

[rgrachek]

My wife had a Dr. Phil Prime Time show on the other night, and the topic was how hard it is for Gen Z people to get by these days. They had a couple on who are your typical "do all the wrong things" folks (have a baby in high school out of wedlock, have a job that you quit for a more fun but lower paying job, etc.). They said that their rent had doubled over the past 2 years (not sure how that happens) and with the price of food, they don't have insurance because while it's available, it comes out of their pay for their portion of it. They were Dr. Phil's example of doing it wrong.

Then they brought in this young woman who graduated from college and was able to buy a house a couple of years after college. She worked at her job and lived with her parents saving most of her money. She indicated that she made many great sacrifices, like not joining her Gen Z friends on out of country vacations, not going out to eat many times per week, not buying designer clothes or a new car, etc. and she said the biggest sacrifice was on weekends she would just hang with family at home. She apparently is a Gen Z hero! Dr. Phil said the "stunning" statistic is that over 80% of people in America live paycheck to paycheck.

What occurred to me when I was watching this is what defines you as a hero now is what almost EVERY young person did during the time my generation was in their 20s in the 1980s. Before we were in our mid-40s, we didn't even dream of having a vacation out of the country. For the first 10 years after I got my Masters, I think we ate out maybe once a month, and it was usually the Valentino's buffet. I got my first new car when I was 48 and even though we have a good amount of money now, I still buy most of my clothes at Walmart.

I really didn't know many people who were a lot different than us, especially people with kids. Frankly, I don't think there were any fewer people living paycheck to paycheck in the 1980s, 1960s, 1940s, 1920s, than now, and in most cases probably more. Now that we have money, it puts all of this back in focus.

It seems to me one of the biggest problems that a lot of Gen Zs have is that for some reason, they were raised with an expectation that they wouldn't have to struggle to get rich or to get by, that somehow when you graduate from college, you're set for life. They're pissed off that they can't have everything now. Boy, we seem to have done these kids a real disservice if that's the case.

 

[stan raymond]

My wife had a Dr. Phil Prime Time show on the other night, and the topic was how hard it is for Gen Z people to get by these days. They had a couple on who are your typical "do all the wrong things" folks (have a baby in high school out of wedlock, have a job that you quit for a more fun but lower paying job, etc.). They said that their rent had doubled over the past 2 years (not sure how that happens) and with the price of food, they don't have insurance because while it's available, it comes out of their pay for their portion of it. They were Dr. Phil's example of doing it wrong.

Then they brought in this young woman who graduated from college and was able to buy a house a couple of years after college. She worked at her job and lived with her parents saving most of her money. She indicated that she made many great sacrifices, like not joining her Gen Z friends on out of country vacations, not going out to eat many times per week, not buying designer clothes or a new car, etc. and she said the biggest sacrifice was on weekends she would just hang with family at home. She apparently is a Gen Z hero! Dr. Phil said the "stunning" statistic is that over 80% of people in America live paycheck to paycheck.

What occurred to me when I was watching this is what defines you as a hero now is what almost EVERY young person did during the time my generation was in their 20s in the 1980s. Before we were in our mid-40s, we didn't even dream of having a vacation out of the country. For the first 10 years after I got my Masters, I think we ate out maybe once a month, and it was usually the Valentino's buffet. I got my first new car when I was 48 and even though we have a good amount of money now, I still buy most of my clothes at Walmart.

I really didn't know many people who were a lot different than us, especially people with kids. Frankly, I don't think there were any fewer people living paycheck to paycheck in the 1980s, 1960s, 1940s, 1920s, than now, and in most cases probably more. Now that we have money, it puts all of this back in focus.

It seems to me one of the biggest problems that a lot of Gen Zs have is that for some reason, they were raised with an expectation that they wouldn't have to struggle to get rich or to get by, that somehow when you graduate from college, you're set for life. They're pissed off that they can't have everything now. Boy, we seem to have done these kids a real disservice if that's the case.

I disagree with a lot of your takes, but not this one. What people in their 20s are calling a struggle, seems just what most generations called living.

 

[BigRedinKC]

Meth is truly a powerful drug…

 

[HudsonValleyHusker]

My wife had a Dr. Phil Prime Time show on the other night, and the topic was how hard it is for Gen Z people to get by these days. They had a couple on who are your typical "do all the wrong things" folks (have a baby in high school out of wedlock, have a job that you quit for a more fun but lower paying job, etc.). They said that their rent had doubled over the past 2 years (not sure how that happens) and with the price of food, they don't have insurance because while it's available, it comes out of their pay for their portion of it. They were Dr. Phil's example of doing it wrong.

Then they brought in this young woman who graduated from college and was able to buy a house a couple of years after college. She worked at her job and lived with her parents saving most of her money. She indicated that she made many great sacrifices, like not joining her Gen Z friends on out of country vacations, not going out to eat many times per week, not buying designer clothes or a new car, etc. and she said the biggest sacrifice was on weekends she would just hang with family at home. She apparently is a Gen Z hero! Dr. Phil said the "stunning" statistic is that over 80% of people in America live paycheck to paycheck.

What occurred to me when I was watching this is what defines you as a hero now is what almost EVERY young person did during the time my generation was in their 20s in the 1980s. Before we were in our mid-40s, we didn't even dream of having a vacation out of the country. For the first 10 years after I got my Masters, I think we ate out maybe once a month, and it was usually the Valentino's buffet. I got my first new car when I was 48 and even though we have a good amount of money now, I still buy most of my clothes at Walmart.

I really didn't know many people who were a lot different than us, especially people with kids. Frankly, I don't think there were any fewer people living paycheck to paycheck in the 1980s, 1960s, 1940s, 1920s, than now, and in most cases probably more. Now that we have money, it puts all of this back in focus.

It seems to me one of the biggest problems that a lot of Gen Zs have is that for some reason, they were raised with an expectation that they wouldn't have to struggle to get rich or to get by, that somehow when you graduate from college, you're set for life. They're pissed off that they can't have everything now. Boy, we seem to have done these kids a real disservice if that's the case.

I’m semi retired and work in IBM quantum research and the thing that amazes me is the difference in work ethic between generations. Some of the younger folks think nothing of taking over an hour break twice a day to walk to Starbucks for a coffee or plan a break with a DoorDash delivery and spend an hour hanging in the cafeteria snacking. Then there are the other young folks who work their tails off, follow you around eager to learn new things and help out without being asked. It seems it’s either one or the other type of kid with not much middle ground.

 

[huskerbishop]

I’m cool with take the vacation buy that car go do what you want on the weekend etc….. But for me the issue is don’t complain about being broke or what this cost and that cost if you are going to go do all those things and live a above your means. If you have a kid then you need to learn to make sacrifices. That’s the issue that I have is that generation thinking they should be able to have it all and complaining about it but not willing to adjust their lifestyle based off what they make.

 

[LP1]

When I was young, my dad got paid on the first of the month. We would go to McDonalds and it was the only time we ate out. Vacations were to visit family and friends and were normally road trips with few flights. Parents paid cash for everything except for the house which had double digit interest charges. Talking to my parents over the years, they were shaped by their war and depression era parents. Credit is handed out like candy today which makes it so tempting to overreach. There have always been people that have great work ethic and those that are slackers. There have always been savers and those that spend more than they make regardless of generation. Long term success seems to track to those that work hard and have self control. Does not always work out for everyone as circumstances and health are so varied. As my kid approached adult life, I do worry about the amount of money being charged for rent, increases in insurance rates, cell phone charges, internet access, etc..., but as will all of us, they will figure it out.

 

[philosophusker]

My wife had a Dr. Phil Prime Time show on the other night, and the topic was how hard it is for Gen Z people to get by these days. They had a couple on who are your typical "do all the wrong things" folks (have a baby in high school out of wedlock, have a job that you quit for a more fun but lower paying job, etc.). They said that their rent had doubled over the past 2 years (not sure how that happens) and with the price of food, they don't have insurance because while it's available, it comes out of their pay for their portion of it. They were Dr. Phil's example of doing it wrong.

Then they brought in this young woman who graduated from college and was able to buy a house a couple of years after college. She worked at her job and lived with her parents saving most of her money. She indicated that she made many great sacrifices, like not joining her Gen Z friends on out of country vacations, not going out to eat many times per week, not buying designer clothes or a new car, etc. and she said the biggest sacrifice was on weekends she would just hang with family at home. She apparently is a Gen Z hero! Dr. Phil said the "stunning" statistic is that over 80% of people in America live paycheck to paycheck.

What occurred to me when I was watching this is what defines you as a hero now is what almost EVERY young person did during the time my generation was in their 20s in the 1980s. Before we were in our mid-40s, we didn't even dream of having a vacation out of the country. For the first 10 years after I got my Masters, I think we ate out maybe once a month, and it was usually the Valentino's buffet. I got my first new car when I was 48 and even though we have a good amount of money now, I still buy most of my clothes at Walmart.

I really didn't know many people who were a lot different than us, especially people with kids. Frankly, I don't think there were any fewer people living paycheck to paycheck in the 1980s, 1960s, 1940s, 1920s, than now, and in most cases probably more. Now that we have money, it puts all of this back in focus.

It seems to me one of the biggest problems that a lot of Gen Zs have is that for some reason, they were raised with an expectation that they wouldn't have to struggle to get rich or to get by, that somehow when you graduate from college, you're set for life. They're pissed off that they can't have everything now. Boy, we seem to have done these kids a real disservice if that's the case.

I agree with all your thoughts on this. I am 52 and got my first new car probably when I was like 43 or so. I bought a company around that time and am doing well financially now, but it took a long time, a lot of patience, and a lot of sacrifice and hard work. We recently upgraded our home and have a pool and are finally getting some rewards for all the hard work. We have finally started traveling internationally but I never needed a passport until about a year ago.

I have a niece who is 30 and she an her husband are so jealous of our house and lifestyle. They make snide comments all the time and you can tell they not only want what we have, but it seems like they think they deserve it too. She did not go to college (so she stays home with the kids because Daycare costs more than what she can make) and her husband has a horticulture degree or something and does OK but they are fairly poor. I just don't get why they think they should have what we have when we were just like them when we were 30. Back then I did not look at 52 year olds with a pool with jealousy and thinking I should be able to have that too right then and there. I always used it as motivation and thought, "Maybe someday I can have that too if I work hard and put my mind to it."

Anyway there is definitely something wrong with the younger generation's expecations and the whole instant gratification mentality.

 

[b6jj]

In keeping with this theme - was just watching "Mr. Wonderful " from Shark Tank . Said not nearly enough of our young people buy "what you need & not what you don't " . Said go look in your closet & see how many clothes & shoes you have that you never wear . SAVING has lost it's way with many . Might be a little extreme but does make you think a bit. I worked for GM long ago when GMAC (finance div) started the 3yr finance program . Many said no-one would finance a car that long ! Now we see 4&5 plans common - most upside down after a couple years . Keeping up with the neighbor has become a continuing theme .

 

[IndyHusker]

When I was young, my dad got paid on the first of the month. We would go to McDonalds and it was the only time we ate out. Vacations were to visit family and friends and were normally road trips with few flights. Parents paid cash for everything except for the house which had double digit interest charges. Talking to my parents over the years, they were shaped by their war and depression era parents. Credit is handed out like candy today which makes it so tempting to overreach. There have always been people that have great work ethic and those that are slackers. There have always been savers and those that spend more than they make regardless of generation. Long term success seems to track to those that work hard and have self control. Does not always work out for everyone as circumstances and health are so varied. As my kid approached adult life, I do worry about the amount of money being charged for rent, increases in insurance rates, cell phone charges, internet access, etc..., but as will all of us, they will figure it out.

Some good stuff in here LP. I especially appreciate you pointing out that the issues with spending, working and saving are not ones that just popped up over the past twenty years. We had problems getting teens to work on our farm in the 70s. We often brought up a family of Mexicans for a few weeks each summer. I’ve been a big fan of their work ethic ever since.

 

[stan raymond]

Some good stuff in here LP. I especially appreciate you pointing out that the issues with spending, working and saving are not ones that just popped up over the past twenty years. We had problems getting teens to work on our farm in the 70s. We often brought up a family of Mexicans for a few weeks each summer. I’ve been a big fan of their work ethic ever since.

Work ethic of immigrants is usually very good, after a generation or two of living in the USA it seems to evaporate.

I don't think there is a huge difference between the work ethic, savings etc with the new generation. I think the biggest difference is they are allowed to be poor workers, complainers and the media portrays them as victims. I'm more disappointed with parents, employers, media and government that have allowed and even encouraged young people to get away with it and even encourage such bad behavior. People will always take the easiest way out, complain over work hard, take advantage of others, the biggest disappointment is allowing it to happen.

 

[Wait What]

 

[Jim14510]

I still buy most of my clothes at Walmart.

Least shocking sentence in the post.

Sorry i couldn't resist. For the most part I agree. I think this is spot on.

It seems to me one of the biggest problems that a lot of Gen Zs have is that for some reason, they were raised with an expectation that they wouldn't have to struggle to get rich or to get by, that somehow when you graduate from college, you're set for life. They're pissed off that they can't have everything now. Boy, we seem to have done these kids a real disservice if that's the case.