Truth, they were taught to value their earnings and forego their wildest desires. They knew the difference in wanting and needing and knew how to save. Instant gratification of spoiled children is what we see before us now demanding that everything be free.

I demand air, water, liberty, and life be free.

Working hard, budgeting and living within one's means are concept entirely foreign to the modern progressive snowflake liberal.

Oh good you got that, i was just coming to mention about how high an income that amount is today.

They also could afford college on a part time salary. Could afford a mortgage with one income. Etc.

That was back in the Eisenhower era where the free market was preserved so prices stayed low

. . . Because they didn’t need the latest phone, iPad, streaming subscriptions, Cable/Satellite TV, a car, Air Jordans, the latest fashion, weed and/or booze, or any of the other “necessities” college students or new grads require today.

I agree with what you say somewhat - that generally millennials parents didn't teach them how to properly manage money - and they spend too much because of it. However, it's not the only contributing factor to the bullshit we are seeing happen now. Millenials, however, do have more information about budgeting than their parents had, so they should fix that.

BUT, How do you explain the increase of worker efficiency without an equal raise in pay? We're doing more work than ever and getting paid the same or less. Don't forget too that even our education has gotten inflated - colleges adding more and more bullshit filler courses to degrees to force people to pay even more for a shittier education. Meanwhile, CEO's are making 300X - 400X more money than their lowest paid employee. When our grandparents were going to school, that number was around 25x. Not the same situation.

So, yes... young people these days spend too much. However, there is SO MANY CONTRIBUTING FACTORS that to blame them exclusively without checking the other powers and institutions is short-sighted if not malicious. If you're one of those people that never blame the rich, you're sleeping at the wheel.

Ya need to remember that the tools and technology that allows us to produce more isn’t free. So, they not only need to pay for human labor but also pay to acquire, install and maintain the technology we use - which is more expensive than paper, filing cabinets, adding machines, typewriters, etc.

But I agree that colleges pile on extra requirements as a moneymaking venture. It’s funny how so many in education complain about the cost of healthcare - as if doctors, nurses, pharmacists, etc should work for less - but they are unwilling to take a cut in their compensation to lower the skyrocketing costs of a college education.

It's still possible. I've done as much over the last 15 years. The biggest struggle since 2008 has been affordable health care... Go figure.

My hat is off to you, person. It's not impossible to do, but is not as straightforward as it was in the 50's.

Health care is a problem that should be solved. I personally don't understand certain things about the free market. How is "staying alive" by having decent health care a "free" choice? Who's sees healthcare as "optional"? The nature of health care is such that free market principles simply don't apply, but who's looking at those details...

Your WHITE grandparents. There was a lot of transfer of labor capitol to make that possible, and those benefits went a lot more to some people than others.

See also "post WWII economy" and "silent generation demographic bonus".