tldr; Young adults are increasingly turning to high-risk investments like cryptocurrency, meme stocks, and sports betting, a trend dubbed ‚financial nihilism.‘ This shift reflects their pessimism about achieving traditional financial goals, such as homeownership, amid rising costs, student debt, and economic uncertainty. Many see these risky strategies as a way to seek financial security in a challenging economic environment, though they acknowledge these methods may not be sustainable long-term.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
brucekeller on
I mean, they aren’t too wrong. Being a wage earner is becoming a quickly losing game unless you make it to like the top 10% of incomes; hell, my wage is close to the top 10% for single earners and a mortgage for a crappy house is really pushing it for me and I don’t even live in a very HCOL area.
Any time wages raise too much, the Fed gets hawkish, but they are fine with assets rising, even if that’s the primary income for more and more people lately. Earning wages is basically being at odds with the Fed these days. They want employment numbers to be okay, just not you having a livable wage.
Paddy_Powers on
American dream, UK dream, European dream, they’re all unattainable. Countries all over the world have the exact same problems of rising costs and lack of housing, some a lot worse than others.
Crypto is only risky because the government can’t control it like Fiat.
Well OK, putting all your money in $ELONCUMROCKET is risky too.
llpmathias on
Young adults? Shit – I’m in my 40’s and feel like it’s a reasonable option..
Ratermelon on
They’re right to feel hopeless, and I’m worried certain nefarious individuals and organizations will figure out a way to further abuse these people and take even more of their money when the inevitable crash comes.
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tldr; Young adults are increasingly turning to high-risk investments like cryptocurrency, meme stocks, and sports betting, a trend dubbed ‚financial nihilism.‘ This shift reflects their pessimism about achieving traditional financial goals, such as homeownership, amid rising costs, student debt, and economic uncertainty. Many see these risky strategies as a way to seek financial security in a challenging economic environment, though they acknowledge these methods may not be sustainable long-term.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.
I mean, they aren’t too wrong. Being a wage earner is becoming a quickly losing game unless you make it to like the top 10% of incomes; hell, my wage is close to the top 10% for single earners and a mortgage for a crappy house is really pushing it for me and I don’t even live in a very HCOL area.
Any time wages raise too much, the Fed gets hawkish, but they are fine with assets rising, even if that’s the primary income for more and more people lately. Earning wages is basically being at odds with the Fed these days. They want employment numbers to be okay, just not you having a livable wage.
American dream, UK dream, European dream, they’re all unattainable. Countries all over the world have the exact same problems of rising costs and lack of housing, some a lot worse than others.
Crypto is only risky because the government can’t control it like Fiat.
Well OK, putting all your money in $ELONCUMROCKET is risky too.
Young adults? Shit – I’m in my 40’s and feel like it’s a reasonable option..
They’re right to feel hopeless, and I’m worried certain nefarious individuals and organizations will figure out a way to further abuse these people and take even more of their money when the inevitable crash comes.