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NJ 1st in the nation for frustrated millennials living with their parents

Men and women between the ages of 25 and 34, many of whom are on the millennial side of the age limit, with some Gen Zers making up the youngest group, don’t have the same lives as their parents and grandparents. Sadly, they are also one of the most vilified and unfairly attacked generations.

People between the ages of 25 and 34 are more than twice as likely to live with their parents compared to 1967. And that is not a weakness. It is not idealism. It’s not selfishness. It’s not that “their generation expects a participation trophy” like Baby Boomers and Gen Xers are floating around. (By the way, which generation do you think gave them those participation trophies when they were kids?)

It is that the world has become much more difficult to handle financially.

Many Gen Zers and millennials would love nothing more than their independence, if only it were as affordable as it was for their parents’ generation.

A new survey from truckinfo.net found that New Jersey is the number one state for adult children ages 25 to 34 living with their parents. At 43.3% of that age demographic. That is almost five percentage points higher than the number two state of California with 38.6%.

Is it a miracle?

The cost of housing in the Garden State is 30% higher than our national average. The cost of living here is 1.18 times higher than the national average.

CNBC calculated what it would cost to live comfortably in New Jersey on a 50/30/20 budget. 50% for necessities, 30% for discretionary expenses and 20% for savings. The salary needed?

$103,002.

Move away from being comfortable. Take away putting money in savings as we have been told to do since we were five years old. Let’s call comfortable living a foolish fantasy.

How much to barely survive living alone in New Jersey? Just to get by, according to GoBankingRates, $64,463.

Just now. Unpleasant. hardly. to get. Through.

That’s $31 an hour.

According to ZipRecruiter, New Jersey’s current average salary is $58,890 per year or $28.31 per hour. This applies to all people, and not just to young people with less work experience who have not had a chance to work their way up.

Do you see the problem?

This is one of the many reasons why younger people don’t want to come home and live in New Jersey when they finish their education. This is also one of the many reasons why no one dares to judge a person aged 25 to 34 better because he has made the choice to live with his parents. We, the older generation that too often simply mocks millennials for no good reason, are the ones who for too long have tolerated the same incumbent politicians who left New Jersey in such an economic mess.

And yes, the same ones who thought of giving them those participation trophies.

Most Affordable Places to Live in New Jersey

SmartAsset released a study analyzing the most affordable places to live in New Jersey. The eighth annual survey weighed several factors, including taxes, homeowners insurance and home costs relative to local median income.

The opinions expressed in the above post are solely those of New Jersey 101.5 talk show host Jeff Deminski.

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