Key Facts — Gen X vs Millennials
Aug 23, 2017 · 2 min read
Important take aways
College Education and Tuition
- Then: 20% of women (18% men) had a bachelors degree
- Now: 27% of women (21% men) have a bachelors degree
- Then: Cost of school: $10,832
- Now: Cost of school: $32,604 (3x as much)
School now costs as much as bachelors plus secondary education, plus a down payment on a home or car. This has been adjusted for inflation.
State school tuition has increased 100% in the last 25 years in the US. Ref
Dating and Marriage
- Then: 36% of Gen X were married at our age.
- Now: 74% of millennials have never been married
- Then: Median age of marriage in 1970 was 20 W, 22 M Ref
- Now: Median age of marriage in US is 27 W, 29 Men. Ref
- Average 6 years later.
Roommates
- Then: Move from your parents house into a married home.
- Now: in 2014, 14% of people 24–34 were living at home Ref, or in a roommate living situation with multiple single people.
- Why? Delaying marriage, and also financial constraints (paying off student loans)
Buying a home
- Then: $23,600 (1970), $116,805.00 (1985)
- Now: $371,200 (Jun 2017 Nat’l Average) Ref
- 3X as much — $254,395 more.
- $116,805.0 = $265,442.62 adjusted for inflation.
Still a $105,757.38 difference — again, the price of a “free” luxury vehicle — tesla.
Having Kids
- Then: ages 18–34, 49% were gen x moms
- Now: ages 18–34 2014, 42% are millennial moms
Fun/weird differences
- Being on time
- Cell phones vs. no phones
- Maps vs. GPS
- Meeting people in person vs. online / apps
We have to be in better financial shape than our parents ever had to be.