Claire*, 42, was always told: “Follow your dreams and the money will follow.” So that’s what she did. At 24, she opened a retail store with a friend in downtown Ottawa, Canada. She’d managed to save enough from a part-time government job during university to start the business without taking out a loan.

For many years, the store did well – they even opened a second location. Claire started to feel financially secure. “A few years ago I was like, wow, I actually might be able to do this until I retire,” she told me. “I’ll never be rich, but I have a really wonderful work-life balance and I’ll have enough.”

But in midlife, she can’t afford to buy a house, and she’s increasingly worried about what retirement would look like, or if it would even be possible. “Was I foolish to think this could work?” she now wonders.

She’s one of many millennials who, in their 40s, are panicking about the realities of midlife: financial precarity, housing insecurity, job instability and difficulty saving for the future. It’s a different kind of midlife crisis – less impulsive sports car purchase and more “will I ever retire?” In fact, a new survey of 1,000 millennials showed that 81% feel they can’t afford to have a midlife crisis. Our generation is the first to be downwardly mobile, at least in the US, and do less well than our parents financially. What will the next 40 years will look like?

  • uis@lemm.ee
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    12 days ago

    After WWII, the other nations (like the UK + those in the EU) were bombed all to hell & back whereas the USA was relatively fine.

    There was certain union in Europe(not European Union) that was bombed 9% by area and 55% by population.

    does “every” kid need one, or can some be excused to go be a farmhand without needing to finish?

    Translation: To have more you should produce more, to produce more you should know more.

    Farmers need education too.

    EDIT: lemmy broke my comment with link to image

    • OpenStars@discuss.online
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      12 days ago

      Farmers need education. Farmhands do not.

      Anyway I was just attempting to use it as an example - we could substitute gas station attendant or fast food worker, etc. There are jobs where, for the job anyway while ignoring the quality of life for the actual person, formalized education is less necessary than for other jobs, e.g. doctor or lawyer.

      But my example of using farmhand was not made up: farmers literally pulled their kids out of primary schooling in order to make use of them on the farm. Perhaps they supplemented it with homeschooling at other times when the crop cycles allowed… or perhaps not. But either way, the ways we use to measure intelligence - e.g. if we ask what country does the city of Athens belong to - the farmhands will appear extremely low in such rankings.

      So long as someone else in the family does the planning work, someone who was not merely pulled out but who flunked out of primary schooling could exist in life by contributing purely manual but not much intellectual labor.