Is delayed marriage holding back younger generations financially?

[JSH]

The data shows that younger generations are hitting major life milestones later in life than the boomers and earlier generations. They marry later, have kids later, buy houses later. One of the big reasons we hear is that they just can't afford to get married or buy a house. Things like college are more expensive today (it is) and they are carrying a lot more debt (they are) but I can't help but wonder if by delaying marriage or cohabitation they are setting themselves back financially.

My parents generation (Boomers) married in 60's with the average age of 20 for the female and 23 for the male. There has been a steady trend since then and as of 2020 census data the average female is now 29 and the average male is 30 when they get married for the first time. That is almost a decade of single living and single living is expensive.

The average rent in the USA is $1326 a month for an apartment. Add in utilities and insurance and we are likely looking at about $1500 a month for a roof overhead. That is $18,000 a year / almost $150K for the 8 additional years of living single.

Save $1,500 a month at 8% in a 401K and in 10 years you would have $276K. Stop saving at 30 and just let that money sit and compound until 60 and you would have $3 million in the bank.


Thoughts?

[redpoint5]

I don't know what is typical, but I tend to think being single is cheaper living.

As a single guy, I didn't have to maintain any particular level of creature comforts and was free to buy cheap food and rent a small room for $400/mo (and live in my car for 2 years).

Many Portlanders rent rooms in a house, for instance my wife was living with 4 other single people in a house in Kenton. Seems typical to me, as her whole single friend group rented rooms in various houses.

Ever since I've had full time employment, I could afford to do whatever I wanted because single living is as frugal as you want it to be.

Now that I'm married with children, I've got to buy more expensive groceries, not live with 3 other roommates, buy a new car seat because the car seat manufacturers have convinced everyone that a used one will certainly kill their child...

I'd say my costs since getting married have increased 5x while the income has only doubled.

Sure, getting married might be cheaper for one who would otherwise rent a single bedroom apartment and eat out every night out of laziness. I know that guy; he borrowed money from me to make rent on several occasions despite making twice my pay.

I didn't get married to get rich; I got married to give my wealth a purpose.

[JSH]

Originally Posted by redpoint5

I don't know what is typical, but I tend to think being single is cheaper living.

As a single guy, I didn't have to maintain any particular level of creature comforts and was free to buy cheap food and rent a small room for $400/mo (and live in my car for 2 years).

I'll let you in on a secret - you aren't typical.

[freebeard]

Is delayed marriage holding back younger generations financially?

"Two [could] live a cheaply as one" until women entered the work force.

Your concern may have been valid until 2008.

The situation is radically different since a well-meaning President fast-tracked what turns out to be a de-population injection.

Have you seen The Children of Men?

[redpoint5]

I know I'm weird, which is why I attempted to think from the perspective of others I've known.

The other day I logged into Facebook for my once-every-other-year peek and saw that single people I traveled with a decade ago are still frequently traveling and apparently well off financially. A single person can work longer hours, they can take jobs that travel a lot and compensate well...

I just don't see a scenario where being responsible to someone else improves financial standing unless that other person provides fundamental structure that's missing. Add kids in, and all hope of an improved financial situation go out the window.

People are avoiding marriage precisely because it is a huge burden and children are a big financial obligation. This is why population decline is on the horizon; marriage and financial burden are increasingly a harder sell.

...as an aside, it's not even clear to me if I form my opinion just to be a contrarian. I do like these types of discussions where we try to better understand complex subjects, and I find it easier to criticize an idea than to formulate a sound one of my own. My grandfather was a defense attorney, and I'm reminded that he enjoyed tearing down arguments more than building them.

[freebeard]

...as an aside, it's not even clear to me if I form my opinion just to be a contrarian.

Someone has to play Devil's defense attorney. Best to not let someone else do a half-vast job of it.

People are avoiding marriage precisely because it is a huge burden

People are avoiding marriage when it involves hetrosex.

https://www.youtube.com › watch?v=DtZDLLuzsYA
TikTok Is Making Young Girls Go Completely Insane - YouTube
Guest: Amala EkpunobiPragerU.com (site)@amalaEkpunobi (Twitter)Sign Up For Exclusive Episodes At https://timcast.com/Merch - https://timcast.creator-spring.c...

https://9now.nine.com.au › 60-minutes › tiktok-tics-worldwide-medical-mystery-causing-severe-tourettes-like-tics-in-teenage-girls › 5b88b29f-5054-4aa0-9d46-88f19d4a4799
Medical mystery causing severe Tourette's-like tics in teenage girls
Dale was suddenly inundated with new patients — all teenage girls, all presenting with tics that appeared out of nowhere. Professor Russell Dale says social isolation is a key factor driving the new wave of tics. (60 Minutes) He and his colleagues looked to the dramatic disruption in our lives during the pandemic for answers.

[redpoint5]

It's no wonder, because men are increasingly undesirable, and they find increasingly sophisticated technology to fulfill their immediate needs and perpetuate their miserable state of being. Women can distract themselves endlessly with social media and other women, cultivating a collection of cats to fulfill their need to nurture.

[JSH]

I don't hold myself out as "normal" either but I have seen a bunch of new grads come and go through different companies I've worked for in multiple states and geographical regions. Granted my experience is with college grads with technical or business degrees that make going to college actually financially beneficial. With that subset of society in mind:

The typical new grad starts work, buys a new car within a month, and moves into an apartment where they live alone. They date and socialize for a few years, find that special someone, date exclusively for a few more years, and then get married or move in together in their late 20's or early 30's. I know plenty of people that are in their 30's and have never lived with another person since their college dorm days.

While they are living this typical white-collar life they also complain about their college loans, the cost of rent, how tight their budget is, and how they can't save any money. There have been a few exceptions but the above is what I normally see.


Marriage shouldn't be a financial burden. Two incomes + splitting the cost of living = lots of room in the budget to save and invest. That is unless someone keeps adjusting their standard of living to consume every dime they make - which also seems to be normal.