Seriously, am I the only one who’s fed up with the constant narrative that you should be financially stable and independent by the time you hit your thirties? It's like there's this societal pressure cooker that tells us if we haven't “made it” by then, we’re somehow failing at life. Let’s break this down, shall we?
I/Unrealistic Expectations
First off, the idea that everyone should be financially stable in their thirties is incredibly unrealistic. For many, the early years of their careers are spent paying off student loans, dealing with skyrocketing rent prices, or even struggling to find a decent-paying job in their field. The economic landscape has changed dramatically over the past few decades, yet the expectations haven’t caught up.
II/Student Loans and Debt
Let’s talk about student loans. The average student debt in the United States has reached astronomical levels. How on earth is someone supposed to pay that off and be financially stable in your thirties? Unless you’re one of the lucky few who lands a high-paying job right out of college, it’s a massive burden that takes years, if not decades, to pay off.
III/Job Market and Wages
And what about the job market? Entry-level jobs often don't pay enough to cover basic living expenses, let alone save for the future. Many of us are working gig jobs, part-time jobs, or multiple jobs just to make ends meet. The days of getting a well-paying job right after college and staying there for 30 years are long gone. According to a 2021 report by the Pew Research Center, wage growth has been stagnant for decades when adjusted for inflation . So where's the magical financial stability supposed to come from?
IV/Housing Market
Let’s not forget the housing market. Homeownership, once a cornerstone of the American Dream, is increasingly out of reach for many young adults. According to the National Association of Realtors, the median home price in the U.S. has surged past $350,000 as of 2023 . Combine that wi loan debt and stagnant wages, and it’s no wonder millennials and Gen Z are struggling to buy homes.
V/Life’s Unpredictability
Life throws curveballs. Medical emergencies, car repairs, unexpected layoffs – these are realities that can derail even the best financial plans. A survey by Bankrate found that only 39% of Americans could cover a $1,000 emergency with their savings . How can anyone expect toially stable when one unexpected expense can throw everything into chaos?
So, to all those people perpetuating the myth that you need to be financially stable and independent by your thirties: stop. Enough with this narrative…you're doing great in your thirties? Cool, just don't parade it with this “in your face” attitude… Life doesn’t work on a strict timeline, and the pressures you’re placing on people are not only unrealistic but also damaging. Let’s acknowledge the financial realities of today and support each other in our individual journeys, no matter what age we might be.
Thank you