Funfact: Increasing birth rates in industrialized countries is correlated with increasing wealth of people in the age range 18-45 and increasing financial equality.

But that means less billionaires.

[–] SpicyPeaSoup@kbin.social 38 points 1 year ago (2 children)

Makes a lot of sense anecdotally. So, I'm in my late 20s, making what people say is a "pretty good salary but not the highest I've seen" for someone my age, I save up religiously, and I have made zero large purchases (including holidays abroad) for the past 3 years.

I can now just barely afford to buy a decent place to live in.

That's all without children. Now how in the hell am I supposed to afford that with a kid too? They're very expensive.

[–] Whatsit_Tooya@lemmy.world 17 points 1 year ago

Yep. A couple years ago I crossed the 6 figure threshold, which is what I was always told growing up was “good money”. But when you factor in inflation + living in a HCOL area, it doesn’t go nearly that far. I’m mostly comfortable and able to save but that’s because I save/invest religiously and also don’t make large purchases. There is 0 chance I could afford a kid right now.

And I’m not trying to say I have it the worst, I recognize the privilege I do have making as much as I do/how much less financial stress I have compared to previously. But man, 6 figures was so hyped up as a kid and it just doesn’t have the purchasing power it used to.

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