Millennials are expressing their discomfort over the idea that the oldest members of their generation are now turning 40.
On Monday, CNBC raised awareness of the actual age of millennials with an article titled: “Meet the middle-aged millennial: Homeowner, debt-burdened and turning 40,” in which the outlet explained that the generation will begin to turn 40 in 2021.
In addition to beginning to reach the middle-aged years of their lives, CNBC also noted other bleak facts about the generation, including that members have “grown into adulthood amidst the backdrop of the Great Recession and the Covid-19 pandemic, student loans, stagnant wages and rising costs of living”.
While the news isn’t all bad for the generation born between 1982 and 1996, with the outlet stating that 59 per cent of older millennials own a house, people on social media were quick to share their dismay at the realisation.
“This is hate speech,” one person tweeted alongside a screenshot of the article headline.
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Another person said: “I feel attacked,” while someone else added: “This is violence.”
However, others were quick to defend their millennial status, with one person explaining that despite the older members of the generation turning 40, they are at the “very end of that spectrum” and have not yet reached 25.
“I just saw an article about millennials starting to turn 40,” they wrote. “I’m *technically* a millennial, I’m at the very end of that spectrum, and I’m not even 25 yet. I feel like that is such a huge difference in life experience.
“Anyway, do not relate to turning 40 yet hahaha.”
Although most older millennials don’t fit the stereotypes associated with the generation, mainly that they are too busy spending money on avocado toast and lattes to buy a home, the outlet did note that millennials aren’t as financially well-off as previous generations and that homeownership doesn’t “come easy”.
According to the outlet, among the older millennials who have purchased a home, 10 per cent reported taking a loan from their retirement accounts while 20 per cent “used a credit card to help with purchase and closing costs, including the down payment”.
Parental support was also common among millennials, with one in five reporting that their parents or other family members helped fund the purchase of their homes.
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