> Economists say that a typical middle-class family today is richer than one in the 1960s.
My mother was a nurse and my father a warehouse worker. In their early 30s, on minimum wage, they were able to buy an apartment and still save enough to afford another one.
My wife and I are both software developers. We work longer hours, are far more formally educated, and have to continuously study outside of work just to stay employable in a rapidly changing industry. I earn a high salary at a large U.S. company, with bonuses and stock compensation. Yet as we approach 40, we still haven't reached the level of financial security my parents achieved decades earlier.
Nominally, our incomes are higher, but real purchasing power, access to housing, and long-term security have eroded, even as the demands on our time, education, and productivity have increased.
xyzzy123•1mo ago
One of the worst things IMHO is a loss of... hard to explain, but optionality? When the price of shelter is high and the need for occupational specialisation is also high, you feel more "trapped", situationally. It seems like people used to be able to YOLO things a lot more.
zsoltkacsandi•1mo ago
My mother was a nurse and my father a warehouse worker. In their early 30s, on minimum wage, they were able to buy an apartment and still save enough to afford another one.
My wife and I are both software developers. We work longer hours, are far more formally educated, and have to continuously study outside of work just to stay employable in a rapidly changing industry. I earn a high salary at a large U.S. company, with bonuses and stock compensation. Yet as we approach 40, we still haven't reached the level of financial security my parents achieved decades earlier.
Nominally, our incomes are higher, but real purchasing power, access to housing, and long-term security have eroded, even as the demands on our time, education, and productivity have increased.
xyzzy123•1mo ago