Two paychecks away

August 21, 2020

You don’t own anything, and you’re not going to own anything. Why do you think it’s so expensive in Silicon Valley and New York? …. You are 20% behind. People in their late 20’s. 20% behind their parents generation. And the gaps only going to increase as far as wages go. You don’t own any assets. Only what’s passed down. Nothing that you earn yourself. You can’t save because it’s 0. You can’t buy a house. The number 1 problem with family formation in the 20’s and 30’s is economic anxiety. People don’t feel they can have a job they can depend on. I talk to people in the middle class all over the world.. They all understand something. They’re two paychecks away from oblivion. They don’t really have a stake in the system. They’re two paychecks away. And when they turn 50, it gets even worse.”