Ah, the financial pundits are at it again telling all of us how shitty our grandkids and kids financial future will be. I've been hearing this my entire life and it's happened in the past and will probably happen in the future also. The problem is these financial pundits look at nothing but numbers that can be deceiving. Incredibly deceiving.
Let me give you an example of 2 extreme people over the span of 100 years. One person is John D. Rockefeller (the wealthiest man who ever lived, with an estimated net worth of over $300,000,000,000 in today's terms) and the other person is you. Who would you rather be? The first inclination is that you'd want to be JDR, right? Well let me compare the lives of the 2 of you before you jump at that answer.
Here's a list of all of the wonderful things that you have that he never did:
Jet travel (you could be anywhere else in the world in less than 24 hours)
A safe, fast and reliable vehicle (airbags, antilock breaks, seat belts, etc.)
Modern medicine (MRI, emergency rooms, pacemaker, artificial heart, kidney dialysis, synthetic skin, etc.)
Access to an abundance of cheap and potable water
Reliable power grib
Ball point pens
Washing machine and dryer
Music on demand
Sex, drugs, and rock and roll!
So the question is, would you trade lives with JDR? If you were a dimwitted economist and financial guru who only looked at the numbers you would. But I'd rather just stay here in the good old 21st century, with all of life's modern conveniences, even if it means that I have to do it on a middle class or even a lower middle class salary. Hell, after looking at the list above, I think I'd rather be poor now, than be the richest person in history!
PS: Crass Cash googled lower standard of living and this was the sexiest pic that showed up. Happy Thursday, and your grand kids aren't as poor as you think they will be.