Interestingly it isn't only the young who are having to cut back - many boomers are broke and suffering too.
My son (30) is following in my property development footsteps, working 2 jobs and renovating himself etc and he will be as wealthy as me way before I was (age-wise). This is without any financial help from me - just knowledge and he is willing to give it his all.
Maybe it was easier 'then' but I didn't notice (though I am at the end of the boomers), isn't super hard now if you gain knowledge and get stuck in.
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