Baby boomers were raised during a time when certain luxuries were considered standard. These are luxuries that seem unattainable for millennials and Gen Z today. From affordable real estate to reasonable airfare with legroom, here are 9 privileges that boomers enjoyed that younger generations may struggle to afford:
1. Owning a Home on a Single Income
Back in the 1980s, the median home price in the U.S. was $47,200 ($170,000 adjusted for inflation). Fast forward to 2025, and the median home price is $400,000, making it difficult for even dual-income households to achieve homeownership.
2. Attaining a College Degree Without Crushing Debt
In 1970, annual tuition at a public university was around $394 ($3,000 in today’s money). Contrast that with today’s average in-state tuition of over $10,000, forcing many students to take on massive student loans.
3. Affording a New Car on a Reasonable Budget
In 1970, a new car cost around $3,500 ($27,000 adjusted for 2025). Today, the average new car price has risen to over $48,000, making it a daunting purchase for young adults without taking on long-term debt.
4. Enjoying Job Benefits like Pensions
Many jobs in the past offered guaranteed pensions for retirees, ensuring a steady income for life. However, modern workers rely on 401(k) plans tied to stock market fluctuations, making retirement security less certain.
5. Paying Inexpensive Rent
Back in 1980, the average rent in the U.S. was $243 per month ($900 in today’s money). Now, many cities have median rents exceeding $2,000 per month, taking a significant chunk out of monthly salaries.
6. Accessing Affordable Health Insurance
In 1970, the average family health insurance premium was around $435 per year ($3,200 in today’s money). Today, the average premium has surged to over $24,000 annually, making healthcare costs a significant burden for many families.
7. Supporting a Family on a Single Income
It was once common for one parent to stay home while the other’s salary covered all expenses. Nowadays, most households require two full-time incomes to make ends meet.
8. Enjoying Cheap Airfare (With Legroom)
In 1979, a round-trip domestic flight cost around $140 ($570 in today’s money). Today, that same flight can exceed $800, not including additional fees.
9. Using Credit Cards with Reasonable Interest Rates
During the 1980s, the average credit card APR was around 12%, significantly lower than the current average of over 20% and some cards charging 30% or more. High borrowing costs have made debt a challenging burden for many.
These are just
And Gen Z will never afford. appeared first on Wealth Gang.
