>While it is easy to blame the younger generations for their poor financial habits, there is more to the story than that, as conditions aren't exactly favorable for the average person to build wealth.

These are two different things. You address the changes well.

Asides from finance and globalization (both systems started post WW2 and continue their relentless march), I think there are two things to add you left out entirely:
- Increasing population combined with increasing pollution and resource scarcity. Whether things are equal or not, we have a dirtier smaller pie to share with more people.
- The nature of the changing economy post WW2 to the Internet age was manufacturing, and basic computers that increased the productivity of skilled workers - people could study to keep ahead of the game and increased consumption could fuel this type of economy. Now robotics and AI is so cheap and powerful it can literally replace the need for humans no matter how intelligent.
We need to evolve from creating jobs by consumption for consumption to creating jobs just to give people something to do and perhaps to motivate.

I don't think any kids can be blamed for where we are at related to that. 


The other point was how to make wealth. You mentioned diversified investments and educating oneself. Actually, practice is good, too.

Public education, especially when it comes to personal finances, is so awful in most countries. The goal is to help people learn how to work and behave. Teachers are old civil servants with no about the challenges post-millennials will face. They have to be politically correct and follow the curriculum.
We can change it, but I think COVID taught a lot of people that parent's role in their children's education must not be overlooked.

One of my friends has a son who just started university and a wife who doesn't understand the difference between credit and debit. He is trying to educate them now. We had a similar chat. A few months ago, he got them both a couple of books to read (personal finances, banking, savings, investments, stocks), recommended some podcasts and youtube videos, and then opened them some investment savings accounts and gave them a couple grand each and some basic conditions and instructions if they want more.

It's a neat experiment.

Oh you also forgot personal saving, that's a tough one. People usually blame the cost of living, but I see so many people waste money whether they can afford it or not. It's really difficult to teach that. So this is where the guy's conditions and instructions come in. His wife already messed up. It was hilarious listening to her perspective. She made it pretty clear that she wants more regardless.

I agree with you building wealth in today's time is very hard competition you have more spending then you can earn but I am happy that I have buy Some crypto sometime go and I'm having easy time in my life now

I think some of the financial ill's people place on themselves is one that is made by society and peer pressure. No longer is there such a thing as extended family. Peer pressure and society lead people out of the home into what society calls the real world. They separate the young from family by societal and peer pressure.

We make fun of the person still living at home with their parents as losers, or worse. The wealthy have extended family, the very poor sometimes have extended family, the failing middle class is is very rare that they have extended family. The wealthy know that adding a few rooms is less expensive than building a new house. 

If young people could get over the fact that they are not less of a person because they still live at home while schooling, or working, or even married with children, then they are going to be the next wealthy group of people. There is financial safety in numbers.

I actually had it pretty darn easy.  About 6 months after I dropped out of college I caught a union job with a company that was rapidly expanding.  In 6 months I was not only considered skilled, I was a foreman.  At more than 5x minimum wage.  I bought a brand new car and had enough money to put half down on my first house in two years.  When I left the owner of the company gave me a TWIMC letter of recommendation.  

The rest of the story is that CAN"T be duplicated today.  Wages and prices have not kept up.  Not even close.  Top level union jobs in the area I was in are about 2x minimum wage today.  

Which is, once again, a lot of words to basically say "Yep, that's exactly right".

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I lived with my parents until I was about 24 years old.  I went to college and I pretty much paid my own way.  When I finished I had zero student loan debt.  It helped that I also didn't have rent to pay or anything like that.  Cell phones didn't really exist back then so I didn't have that bill to worry about either.  It's almost crazy to think how easy I had it when I look back now... 

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I think that it is very useful for the kid to be independent as soon as possible, although it is difficult nowadays than it was years ago
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Not sure I agree with the contention that things are different now, that "fewer people have it [money] available" nowadays. It's very, very easy for us to think that things are different now. I believe that every generation says this same thing about the "kids these days." Reading this reminded me of Thoreau's "Walden"...there's a line in it where he asks something like, "When were the times not hard?" Writing in the 1840s or 50s, or whenever it was that Walden was written, he's pointing out that times are always tough and that money is always scarce. Not sure it's any different today.

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