Millenials own just 6% of all wealth. During the same time of their lives Boomers owned 22% and Xlers 12%. So objectively Millenials are much worse off than previous generations.

Yet when going through this sub there are so many smug people that claim to make 100k+ a year and "bought" their house at age 25 or 30 and how everyone who does not invest is sooo stupid and financially illiterate and they are so smart and have so much skill.

I suspect most of these smug people come from rich families where mommy and daddy supplied a lot of financial funds - or they just got insanely lucky and now confuse luck with skill.

1. You cannot invest if you barely make enough money to afford the necessities.

2. You cannot gamble the few thousand Dollars a year you can save on investing because you need the money as an emergency fund. Also there is no guarantee that "investing" and "compound interest" will increase your money. You also might just lose it all.

3. A down payment is not enough. If I save 5000 a year - thats 200 000 after 40 years. After 4 years I might have the 20 000 necessary for a down payment. But the remaining 180 000 I will save until im 70 are nowhere near enough to pay of the house + maintain the house. So "buying" under these circumstances is financial suicide.

4. If you were able to "buy" a house at age 25 or 30 - then you either got a lot of financial funds from your parents - inherited a lot of wealth - or got insanely lucky. For some just the timing of their birth gave them an enormous advantage that had 0 to do with your supposed and inflated "skill".

5. So just stop with the bs about "investing" and "down payment" and " its your own fault for not doing x while you had circumstances against you that made x impossible" and "Im so smart because Im well of and everyone who isnt investing is financiall illiterate and just stoopid and Im so smart".

6. Just 51% of Millenials are abel to afford a house - a LOT of those only because they inherited or their parents were wealthy. If you eliminate these two categories then the number probably drops down to 30% or less.