Millennial in the Mirror

May 09, 2023

Big update from HQ… I started a podcast, also called Paid in Full (#branding). It’s just me having long-form convos with interesting people. The first two episodes are live, with a few more in the tank (editing takes a lot of time). Check it out, I think you’ll enjoy it.1

WHAT’S NEW

Much ink has been spilled about the plight of the Millennial and how we’re the unluckiest generation in U.S. history. They say we got a raw deal, coming of age in the midst of two financial crises, skyrocketing tuition, and an insane housing market. No good jobs and no chance to retire. If only we were born a generation or two earlier, we’d be wealthier and happier than the broken husks you see on the street.

But that narrative is completely backwards. We are, in fact, the luckiest generation (of all time?), blessed with an existence that septuagenarians could only dream of.2 We have Ubers and podcasts and robot baby swaddlers. HBO not PBS. Sweetgreen, not Roy Rogers. Xbox, not Mattel Football. Compared to mom and dad, our friends are more diverse, our careers more daring, and our marriages more dynamic. Across almost every category (one notable exception: the music), life today is simply better than it was 50 years ago.3

No, the problem is not our reality, it’s our expectations. The demands of an average 30-something have increased exponentially since the Nixon administration. Boomers wanted starter homes and station wagons. We want McMansions and luxury SUVs. Gen X wanted two weeks of vacation and camping trips. We want unlimited PTO and Disney World extravaganzas. We got the moon and still pine for the stars. No wonder we aren’t satisfied.

A wise man4 once said that happiness is the gap between expectations and reality. If my fellow Millennials don’t recognize their reality and adjust their expectations, we’re headed for another Great Depression, but not the financial kind. If we don’t nip the victimization in the bud, our “bad luck” will become a self-fulfilling prophecy. And that’s just sad.

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MONEY READS

👉🏼 Worry About the Right Things by Michael Batnick

“Wealth is relative. It doesn’t matter how much money you have if you don’t have the peace of mind to go along with it. Are you truly wealthy if you are constantly overcome by the thought of it disappearing?”

👉🏼 When Will I Retire? How About Never | WSJ

“I started formally working at 14. As I sit here today, age 73 and feeling like 30, I simply cannot imagine not working. I just enjoy it too much.”

👉🏼 Return of the Zombies by Marc Rubinstein

“Since the S&L crisis, American authorities have been acutely aware of the risk of creating zombies. They were quickest to recapitalise their banking system after the global financial crisis, and they are the most supportive of their banks making money.”

RECOMMENDATIONS

🎧 PODCAST: If Books Could Kill

Two snarky guys debunk the bestselling books that “captured our hearts and ruined our minds.” It’s just what the doctor ordered. So far the Malcolm Gladwell and Rich Dad Poor Dad episodes are my favorite.

📖 SHORT STORY: Head and Shoulders by F. Scott Fitzgerald

I’m a huge fan of short stories and Fitzgerald is one of the best. This wonderful tale covers young romance, class conflict, gender roles, and the contrast between dreams and reality - all written over 100 years ago! Amazing.

📼 VIDEO: Ether/Or — The story of black holes, and how I temporarily lost my mind over an Amazon review

All of exurb1a’s videos are fascinating and funny, and his latest — purportedly about black holes, but really about epistemological humility — is no exception.

THE JUKEBOX

In honor of season 3 of his TV show, here’s a three-year-old clip of Lil Dicky free-styling. Oh, by the way, Dave might be the best thing on television right now.5

MY LIFE

My daughter, Addy, has been playing softball pretty much her whole life. In pre-school, we’d just practice batting and catching in the front yard, nothing but plastic and grass. Then in kindergarten, she signed up for little league, launching a nine-year (and counting) career. It’s been super rewarding, a highlight of our lives. But, for most that time, she was absolutely miserable.

You see, my little girl has always been an old soul, much more comfortable with adults than other kids. Team sports were her kryptonite. She whined and cried before practice and faked a cough or tummy-ache before games. I became an ~~emotional support~~ assistant coach6, which helped her relax and have fun. But year after year, from tee-ball to coach-pitch to try-outs, when the season ended she was ecstatic, vowing to never go back.

Finally, by the grace of God, everything changed last year: It’s the third game of the season and our starting pitcher gets hurt. There’s no clear backup. I mention that Addy can probably take over, so we sub her in. She proceeds to toss three strikes in a row, ump calls “Yer ahhht,” and the head coach turns to me and whispers, “Welp, looks like we found our pitcher.” I’m so proud I almost hug him. Two months later she’s on the all-star team.

Now she’s obsessed. No more complaining. No more tears. No more latching onto her dad in the outfield. After almost ten years, hundreds of games, and thousands of hours, she’s found her “thing” at last. Sure, NASA got a human into space in less time, but some things require patience, especially kid-things. Hang in there.

🤙🏼 Pura vida,

Sent with 💛 from Pittsburgh

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