It’s official, being 20 something years young is balls. According to a report released by the Conference Board of Canada today, the average disposable income of 50-54 year olds is 64% higher than that of 25-29 year olds. This is the case across the board, regardless of marital status and gender.
That’s a damn depressing stat.
A prime example of this disparity? Many companies have two tier systems wherein a younger hire doing the exact same job as their older counterpart will be paid substantially less and lower pensions (where pensions are an option). This agist income gap is being cited as the new divide in the work force, of even more concern than gaps resulting in gender.
Here are a few of the issues:
1. Baby Boomers refuse to retire. Thanks guys.
2. Your undergrad likely means diddly squat. So you got another degree. Great. Now you’re in debt, overqualified, employed but way underpaid.
3. The cost of living and minimum wage are totally unaligned.
On the plus side:
1. Almost all of you can call yourselves starving artists.
2. The door is wide open for you to take that sturdy education and find a way to fix the system. Be the change people, be the change.
3. Your parents’ basement is fully renovated. Living at home isn’t so bad, someone’s doing your laundry and making enough food that you can take leftovers to work the next day.
4. Most importantly: This is further motivation to love what you do. If you work long and hard you’re going to be ok, better find something you like doing.
“….tough times shake up the status quo and create an environment for change. Nothing will focus the mind more than financial desperation.” – Stephen Goldsmith
