Many parents are facing issues not faced by generations before with their kids unable to afford to leave the financial nest of their parents home while they try to get jobs that would help them gain financial independence.
The boomer generation couldn’t wait to get out of the house and faced low-paying entry level jobs similar to what is out there today. But they preferred to be poor and struggle to make it on their own vs. the security blanket parents offer.
While many of today’s young people need to pay back student loans and the salaries they earn leave little for basic needs – like housing and food – learning how to balance a budget is a lesson that they must master. They need to appreciate the value of the dollar and budget accordingly.
If they can’t afford their own place, they are better off renting an apartment with a friend than relying on their parents once they graduate from college.
I read about Facebook’s Mark Zuckerberg promoting universal basic income and wanted to puke.
What would be the point of providing young people with checks for doing nothing? How is that going to encourage any kind of work ethic? If I got a check for $3,000/month, what incentive would I have to get up and go to work every day? Absolutely none.
While most millennials have a work ethic – I hope from admiring their parents work – this “Utopian” solution by Silicon Valley predicts more automation destroying real jobs for college graduates. I wish they would think of more ways to hire young people to expand their businesses. Not to keep them in their folks’ basement indefinitely.
Any one of you millennials looking to rent or buy a place of your own can call me anytime. I’ll help you find something within your budget. It’s time…. Give your folks a break.