this post was submitted on 07 May 2025
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Collapse
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This is the place for discussing the potential collapse of modern civilization and the environment.
Collapse, in this context, refers to the significant loss of an established level or complexity towards a much simpler state. It can occur differently within many areas, orderly or chaotically, and be willing or unwilling. It does not necessarily imply human extinction or a singular, global event. Although, the longer the duration, the more it resembles a ‘decline’ instead of collapse.
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https://finance.yahoo.com/news/average-net-worth-generation-120137273.html?guccounter=1
A lot doesn't equal a majority. I could go full anecdotal as well and tell you that based on the people around me everyone born before 95 is worth at least 100k, it wouldn't mean shit.
That's quite a spread. Seems to me like there's quite a disparity, and still the majority of the age group is well under 100k net worth.
If the 50th percentile is 39k, and the average of the whole group is 183k, then the high end must be really high and very small.
That disparity only gets worse in older age groups.
Ages 35 to 44
The vast majority of millennials are in that category, not under 35. Gen Y starts in 81 and ends in 96.
I meant to say younger millennials and zoomers. Not millennials and older zoomers. My bad.
And by the time these younger millennials reach 35+ they'll also be worth more, just like the people before them weren't worth over 100k when they were in their 20s and early 30s...
Yes. Exactly. And they aren't now.
So it's assumable that they likely aren't flying around in private jets.
They'll still be in that 10% when they're older and they probably already live a very unsustainable lifestyle if they're from first world countries.
10% is just a nice number to use, a millennial that takes the plane to cross the country to see their family on Christmas has a much higher environmental impact than poor farmer in a third world country.
No...there's no more social mobility. Within an age group you are always going to be more or less within the same quintile. Obviously there are exceptions, but nobody is going from being a median to a top 10% in their lifetime. That's an outlier.
The guy who has to drive a clunker 30 miles from an affordable suburb to a decent job isn't the problem.
The problem is that he has to in the first place.
And that's caused by a series of decisions made by people who are and have always truly been in the top 1%. The curve-wreckers who make it so that median is $39k and average is $200k. That's an insanely tipped scale.
Top 10% on a global scale means a net worth of 100k USD, it's not a lot in first world countries, if you own the place you live in, no matter the size, you're pretty much certain to be worth at least that at some point. Median net worth for people 35-44 is 25% higher than that in the US. The people in that bracket weren't worth that much overnight. When I was 25 my net worth was about 10k, 15 years later it's now about 150k from just... Living my pretty average middle class life, i.e. being in a relationship, buying a small house and setting money aside. I didn't have that when I was 25, I do now, just like people who are 25 now don't have much but they will in 15 years, just like the people who were 25 in 1975 didn't have much but they did in 1990.