CompUser said:
With the "progession of wealth" thing, my cousin graduated college at 22, got a job. When she was 23 she bought a brand new 4Runner Limited. Now she is 24 and is building a $400,000 house. Shes not married and her parents aren't helping her pay for it.
While I did not graduate in 1980, I got a great management job that allowed me to buy a new Buick Century 2dr for under $7000 - in todays $ that is about $18K. My rent (was too dumb at the time to think about buying a house) was $400 - now about $1100 in todays $).
Depending on where she is building her new home, that $400K may be "entry level" today. Just sold my "starter" TH for $355K recently, over double of what inflation says that it was worth.
My personal experiences of "advancement of wealth" are not far from my own parents experiences.
---
I don't see why some of you people are getting so mad that people that are younger than you have better computers or what ever.
Not mad here. And I am pleased for the success of your cousin. The point I was trying to make is that everyone that starts at the top of the ladder will not be able to stay up there.
Example, how will your cousin deal with her next car being 1/3 to 1/2 the cost (adjusted for inflation) 10 to 15 years from now? Or that the $400K home ends up having to be sold, and going into a moderately priced apartment (for me it was no issue, since it was coming full circle in my life). Some are equipped to deal with what life gives them, others are not.
Witness the suicides or mental health hospitalizations that I have seen among my peer group in the last 5 to 10 years. Not a great number, but I do think higher than norm for their ages. IMO all because they never had to worry about where their next paycheck was coming from.
The financial "hardships" that I faced in the past year and half or so were made easier IMO since I had been there before. And that my Depression Era parents gave me values of not counting on "wealth" always being with you.
In the end there are those with experience of Life that question the values that we as a nation have. I am pleased to see that many here have been able to buy their own computers and what they have. And it is impressive that they have been able to achieve what my peers thought could be impossible at comparable ages.
For me and my peers it was a big thing to buy a TV (B&W) and a stereo. This was during a time that we didn't have to wear labels (maybe other than Levi jeans and Izod shirts). It was also a time that it was cheaper to repair an item than to buy a new one.
Sorry if I sound like some Grandparents that talk about walking 3 miles to school each way (uphill -

) in the snow (in South Florida

); but there is a cautionary tale that all good things must come to an end.