It's posts like these that make me glad I'm an international drug smuggler. Today's wages for young people, even ones with advanced degrees are beyond crap. I see new grads paying to work internships because the cost of living is higher than their stipends, even when they live with their parents or half a dozen+ to a house. Then when they obtain a real salary it's 5 times lower than it was 20 years ago in real terms (i.e. w/o inflation), taxed to the hilt and then some. My taxi driver and waiter have decent STEM degrees these days and a 50-100k of student debt and a sob story to tell, it's completely ridiculous. It's somewhat hilarious that they imagine somebody like myself is taking burdensome risks when the opportunity cost of 'normality' has wrecked their prospects. Mind you, all our competition is of the 'Topix' variety, so I can see how you'd get that impression. But seriously, young people today aren't thinking about ROI, return on investment. They seem to think it's alright to be in debt until your late 30s or more before they get back into the black. Then they take on mortgages because everybody else is doing it. That's not OK, that's shit. Do the math. You guys should be rioting or something by now, I don't know what is wrong with this generation, I genuinely am surprised they aren't far more angry. I mean are you getting a raw deal or not? If so, maybe you need to plan something new. I don't know what, that's hardly my business, but there's no point in sitting around moping about things if you're not going to do something about it. Make a business plan or something, take some control over your life in some way. Example: If you work hard and invest consistently for long periods of time while you're younger, then you can accumulate wealth much faster than your peers. You'll know you're successful when your yearly dividends are higher than your annual salary. Your pals may have nice cars or houses, but they'll also be in debt up to their eyeballs. Don't go down that road, it's well trodden, and an infinitely sterile and anxiety filled way to live life.If you want to escape the rat race, you have to think laterally and take calculated risks, whether you are in the black market or regular market that is the case. You cannot follow the herd, they thought investing in real estate in 2007 was a hot idea. Fuck those people, don't take advice from anybody who isn't already ahead of you in some area. Do your research, make a plan, like you were making a report for your boss, but for yourself.Finally, a lot of young people look down on jobs like working a shop floor, pizza delivery, cleaning etc. Those jobs may not pay top dollar, but they aren't going to get outsourced to china now are they? Contrariwise, most classical middle class jobs like engineering, legal, payroll, is experiencing just that thanks to the combined effects of globalization and new technology. Looks like the plumber makes more money than my dentist or lawyer when you factor in their opportunity costs and supply/demand of labor. Work hard at whatever you do, obtain capital (you're still in the West, it's still much easier here than elsewhere), and then do something with it that puts you in control. Ownership of capital and income from said capital is the key thing to obtaining independence.tldr; Your parents had no idea what the fuck they are talking about. Traditional concepts like working for two or three corporations in your life time, even obtaining a mortgage, are flying out the window, it's just going to take some time for everybody to cotton on. What has happened is that supply and demand has dramatically changed, but not everybody gets it yet, least of all the educational establishments or your average 30/40 something. They think it's going to change "after the recession". No, it ain't. Wages are going to be like this from here on out. This implies either a massive deflation in house prices or you guys will be renting for the rest of your lives. Since your parents were dumbassed enough to put all their savings into real estate capital accumulation strategies and are now hanging on like frightened rabbits, it's probably the second for a while at least. I mean seriously, do the actual math for your average 20 something, that's what it is for most of them.