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A new study from the Federal Reserve Bank of St. Louis shows that the typical household comprised of adults in their 20s and 30s accumulated 34% less wealth than expected during the economic recession beginning in 2009. Among six age brackets surveyed, this group was the only one that lost ground in terms of wealth creation following the 2010-2016 economic recession. This was not primarily due to lower incomes but to the rising cost of housing and increased debt share of younger consumers. Most worryingly, this gap is unlikely to stabilize any time soon “as asset appreciation is unlikely to be as rapid in the near future as it was during the recent period,” according to the report. To sum it up in gif form:
Basically, we are screwed, guys. Study after study shows that the reason we can’t save money or invest in buying a home is because we spend a staggeringly large portion of our income on rent and are burdened with massive debts causing us to hold off on purchasing real estate.
On the other hand, the Federal Reserve Bank’s report shows that older generations are losing significantly less ground in terms of wealth creation. Combined with the fact that the Boomers generally had more assets before the recession, the result is that the wage gap is growing not just between the rich and the poor, but the young and the old. And as more and more boomers retire in record numbers, putting a strain on entitlement programs, our generation will be burdened even further to keep those programs afloat while continuing to rebuild the economy. So as they see this situation:
So what do I, an idiot millennial have to offer? After all, our best and brightest minds elected to our government (*snicker*) have tried mightily to stuff their pockets with money before the whole thing collapses solve this impending crisis. Well, I am a bit of a creative, out-of-the-box thinker, so I’d like to propose some actions that we, the “Bent Over a Barrell Generation” can take to prevent the world from going full Purge in ten years the Boomers all evacuate to Elysium and watch our demise. These won’t be popular suggestions but, hey, maybe you guys should have left some economy and environment for the rest of us.
Vote No Over 60
This one is simple: I implore us all to adopt the stance that we will not support any candidate over 60 years old. Political affiliations be damned, we will not let anyone make decisions about the economy who hasn’t had avocado toast. If you’re not able to host a weekly townhouse meeting over Instagram, either due to lack of transparency or because your grandson Keith isn’t there to set up Instagram for you, we should not allow you to hold office.
It has always been very suspicious that, while we won’t let young adults run for office, we don’t have any problem with folks who could croak at any minute make rules for the rest of us. It’s like letting the guy who is leaving the dinner party order for the whole table. It makes no sense, and since we’re the ones picking up the check how about we stop inviting that guy to dinner?
And if our elders think it’s unfair that they don’t get a voice in how the country is run, it was also pretty unfair that people who hadn’t graduated high school had to watch the government spend money it didn’t have to bail out banks, automakers, all while destroying the country’s credit rating. Life’s not fair, we learned that real quick.
Abolish Retirement
You read it correctly. I didn’t say abolish entitlements, because I know that’s basically a pipe dream. I said abolish retirement. We’ll keep around Medicare and Social Security for you Boomers, but you gotta work for it. Most of your generation just loves complaining about outsourcing or immigrants coming to do jobs Americans won’t do. Well here’s where you can be part of the solution!
I’m sure that call centers would rather pay real Americans a fraction of the minimum wage, and you’ll get a ton of daily social interaction. Your grandkids are never gonna call, no matter how much guilt you lay on them, so why not use your golden years to be of some use. You don’t need the money, with Social Security footing the bill as you watch the world die around you, but since you’re being taken care of why not do those dirty jobs you admonish us for not wanting to do for little to no money? Studies also show that it’s important for retirees to be active and have hobbies. Instead of golf, maybe take up being a janitor at the local high school. You’ll stay fit and keep your mind sharp while eavesdropping on some kids born after 9/11 as they lament how their 4.0 GPA and perfect SATs won’t be enough to get them into Harvard. I’m sure they’ll love to hear you chastise them about how participation trophies ruined their generations work ethic while they calculate how many years it will take to pay off their non-dischargeable student loan debt.
But perhaps you’re too sickly to do any actual labor for this society, well that’s fine because there are other options like…
Make All Procedurals Pay-Per-View
If there’s one thing I know about old people, it’s that they love their procedurals. So to get some money out of these lazy bones, take a page out of the WWE’s playbook. Every procedural, from NCIS to CSI to Law and Order to Chicago Fire is gonna cost money to watch per episode. Don’t have the money? Well I guess you’ll have to find something active and productive to do with your time. Or watch some shows that are actually popular among the youth culture so you’ll have something to contribute during Thanksgiving discussions.
Trophy Hunting
In Africa, trophy hunting endangered animals has become big business. While many protest, studies have shown the practice can be a net benefit for the species because the money brought in is used to improve conservation efforts. I suggest we use this logic to help our endangered species in this country: millennials.
Carve out some large territories in the middle of America and let rich boomers loose to hunt the most dangerous game of all, man. Millennials can sign up to live off the wild in these preserves, and if they survive long enough, they’ll be set loose with a nice chunk of change. And if you get shot and killed, well at least you didn’t starve to death sharing an apartment with seven other people.
Reverse Hunger Games
The simplest and easiest. Instead of a bunch of teenagers being thrown into an arena every year to battle to the death, we cull the population of retirees by choosing groups to compete for their lives. 100 at a time we drop them on an island and the whole world can watch live as these geriatrics fight to the death. To the sole survivor, all the sweet retirement perks they could want including full healthcare and housing provided. The rest, we spared from a long struggle with pancreatic cancer as their loved ones watched in agony. At least this way they’ll be proud knowing that, although grandpa is gone, he managed to take that old bag who knifed him over the cliff with him. .
Respond
@joshetyler
@joshetyler
Nived? Is that you?
Why would I save up to buy some shitty apartment when I can drop 4 g’s on a 2 week bender, with my boys, in Europe this August?
Like the reverse hunger games idea, but would LOVE it to be a WWE format.
“Arnold Abernathy has Beatrice Higgenbottom in a choke hold! But WAIT, what’s this? By.. BY GOD HERE COMES EDITH WILSON WITH A STEEL CHAIR!!!”
Every college graduation ceremony should feature a ladder match for full student loan forgiveness. I’d watch.
CLIMB THE LADDER KID! MAKE YOURSELF DEBT-FREE!
Screw class warfare, let’s go with age warfare. Vive la révolution, yall.
Hot take alert: Learn how to manage money better. Some of the things I see people our age spend their money on just boggles my mind. $500-$1000 to go to a wedding or bachelor/ette party? $200 at bars over the weekend? $78 on an Uber? $67 on dinner and drinks at a taco joint? I see it on here with the “What I spent this weekend” series occasionally and sometimes it just confuses me to no end. Everything is “keeping up with the Joneses” and making our lives look better financially than they really may be. That’s not just a generational problem anymore, however, but social media really has thrown people’s finances for a loop, in my opinion.
I’m an older millennial and I am taken aback by my peers’ spending habits. I make decent money, but I can’t afford the newest phone, a big bar tab, expensive weekend getaways, etc. all at the same time.
I think it is disingenuous of the “$30,000 millionaire” crowd to spend like they do, then say their life is crippled by student debt/the economy/old people.
I think a lot of us came from somewhat affluent families and expect to live like our parents straight out of school (house, cars, dinner out, trips). However, when our parents were straight out of school, they lived pretty frugal existences- we were just too young to notice. Maybe we just have a problem with delayed gratification.
Rocking my iPhone 6 and 2007 Toyota for as long as I can
STOP THE PRESSES, right? This level of responsibility is incomprehensible to many people.
I think there’s also an issue with what people see on social media vs. what reality is. I have a friend who lives alone in a nice building, is always going out and going to events, but lives paycheck to paycheck and has no savings. If something happens to her job she’s screwed. That’s not something people see though, and then feel like they’re “behind” when they can’t keep up.
I’m also a part of that problem I guess. I travel a lot, but I scrimp and save to have the money to do so. I rarely eat out and try to do so only with friends rather than out of laziness/boredom. I cook at home, make large batches of things I can freeze, plan my meals around what’s on sale that week and clip coupons. My friends and I usually do parties at home/nights in/picnics and save going out for special occasions (and usually have more fun in anyway). I don’t buy a lot of clothes or do a lot of shopping. I walk to work to save on metro costs. My daily reality isn’t glamorous, but I’m not posting my stack of coupons on Instagram. When people ask how I can afford to travel so frequently, I feel like they usually don’t want to hear the real answer because it’s honestly hard sometimes and they don’t want to put in the work it takes.
As much as I hate the word “adulting”, it’s a good catch-all for what you’re doing. I say post the coupons! People need to know how the sausage gets made.
Just pictures of my neighbors’ discarded circulars, grocery store apps, and screenshots from Mint. But really I think a lot of times people don’t want to hear it. They either want a a magic trick or they want to hear that my parents bankroll it so they can roll their eyes and then talk shit. They don’t want to hear that it takes sacrifice and planning and hard work.
You sound like my kind of girl!
sup?
I think you and I share a definition of “afford” that differs from a lot of people. For a chunk of the population, the standard isn’t even “do I have this amount of money”, it’s “can I put this on a card and make the payment?”.
Redneck financing: I don’t care how much it costs, what are the payments?
was at a boat dealership one weekend wasting time and saw that a high end tritoon was being advertised for what seemed to be way to cheap of a monthly payment. Read the fine print..it was a 20 year amortization. On a boat.
But those appreciate in value. Right? Right? Right?
As someone who’s looking to buy down the road, they sure as hell don’t go down.
Never buy anything that does one of the three F’s: flies, floats, or fucks
New wake boats are the same way, they were advertising them with the weekly payment amount.
“Pay only $10/day!!!!”
Try and find a used competition boat. You can buy them super cheap and with only like 11 hours on them. *source: the broker in my office who is younger than me and just bought a boat
“The absolute most you’re willing to pay, for the rest of your life.”
100% agree. We have brand-new luxury apartments constantly opening downtown and they’re targeting the kids fresh out of college who feel they “have to live downtown” despite carrying $25K in student loans. They end up just loading everything on credit cards and begin doing everything simply for the social media “likes.”
The “luxury apartment” trend is what enrages me more than anything. There are VERY few options for those of us who want to/prefer to live alone while doing so in a modest, reasonably priced apartment. Thankfully I found a unicorn, but had I not it seems the overwhelming majority of the other options are either to pay out the nose because of the stupid luxury buildings (either to be in one, or to overpay by $200/month for one of the average places who use the ridiculously priced luxury options as a price anchor to bring their own rents up to absurd levels), or to be in a ridiculously cheap building in a ridiculously sketchy part of town. The lack of good rental options for those of us in between those two income levels is infuriating.
If there is a part of town that you want to live in that seems to only have these “luxury” apartments and nothing else listed on Zillow or Apartments.com, drive through the adjacent neighborhoods on the weekends and scout for some rent signs. I did that an managed to find a good renovated apartment with the trimmings of a “luxury” apartment for less than I was paying in the burbs. An now ubers cost me $10-$20 round trip vs. the $40-$60+ before
That’s how I found my unicorn, but God damn is it a pain in the ass
Finding a “non-luxury” apartment in an adjacent part of town is not always reasonable in a city where it takes an hour to drive 5 miles. If I moved even 10 Miles from my office (which would only have MAYBE a $150/month difference) I’d spend more money than I saved in rent on gas and car repairs. Not to mention the mental toll it would take to spend 3-4 hours a day in traffic. We are slaves to the luxury slum lords.
Unfortunately at this point in the real estate cycle, luxury is all that pencils. Urban land comps outpacing rent growth, skilled labor shortages, and an ever increasing pool of debt ridden millennials that “have” to have the walkable, live/work/play lifestyle with no actual cash savings has created a clusterfuck of a Multifamily market that desperately needs to correct itself from a consumer standpoint
The luxury apartment thing is becoming a huge issue in DC. I live in a nice apartment building, but it’s still within my price range. I also have a roommate and the smaller bedroom, so she pays more for the Master. But a friend who lives alone in a one-bedroom in my building legitimately asked me why I have a roommate if I make over a certain amount of money. The amount she offered was not a lot for DC and not much less than my current salary. I told her because I was striving to save at least 20-25% of my income. She was surprised and admitted that she wasn’t saving anything. I know so many people who make perfectly fine salaries but still live paycheck to paycheck.
Glad somebody sees my point….
I agree with Desk Jockey as well. It’s all about balancing needs and wants, something I feel our generation ignores bc of the need for instant gratification.
The one powerful thing we have that the older generations do not have is time – a powerful tool when trying to accumulate wealth in the long run. That said, you have to pay yourself first and start as early as possible… meaning: 1. Contribute as much as you can to your retirement / 401k (if offered), up to your company’s matching rate… aka free money (if offered); 2. Additionally set aside a portion of each paycheck to additional savings (if possible); 3. Pay down expensive debt in a reasonable manner, chipping away at the principal on a scheduled amortization plan. You will learn to live off of a smaller “discretionary paycheck” but will also better your personal balance sheet.
After you address these three items, then you budget in your “lifestyle” choices (rent for a luxury apartment vs. buying a smaller starter home to build equity; shopping at Kroger vs. Whole Foods; ordering butter/jelly and toast vs. avacado toast; etc etc etc.).
I rant but it’s true (in my opinion) – we have to be self reliant and be responsible for our decisions.
You have to spend money to make money. Believe me.
Or just inherit it…
I have a serious question for anyone who lives paycheck to paycheck: what’s your emergency plan? Like what if you go to get your car inspected and find out you need 4 new tires and it’s gonna cost $800+? What if you get laid off and you don’t have enough money to make it through the next month of bills? I’m not trying to shame anyone, im genuinely curious.
The Bank of Mom and Dad.
Guess there can’t be a middle millennial. It’s either stay at home and do nothing and have money when you are 70 because let’s face it, we ain’t gonna retire until then. Or go balls to the wall and burn out. I am in the middle. I make good money, but because the market didn’t level out for us I can’t save more like I want. Guess Josh is right, we are screwed.
I’m here in the middle with you. I think the fact that you’re saving at all, even if it’s not as much as you want, excludes you from who my question was targeted at. I was aiming for the people with no savings direct deposit who’s income all goes to debt payments, bills, and just general spending.
Its one of the first things that I go over with young clients in the office. You “should” have anywhere between 3-6 months of living expenses in emergency savings. Sometimes it’s a bit aggressive but I would venture to say most don’t even have 1-2 months saved which can total anywhere between $5-10k at minimum. And not $5-10k to draw from for fun or that in your 401k, but cash or CDs in which you WILL NOT touch unless you have to. But not everyone wants to hear the brutal facts and make the necessary changes in order to be financially stable. To be honest a I see a lot of millennials spending more discretionary money than my HNW clients do. Its a crazy thing to observe.
Every time they do a money column people get incredibly judgmental in the comment section. I don’t understand people judging other people’s spending; it’s their money let them spend it as they want. That being said it’s your money and if you run out and can’t afford something cause you already bought something else, then that’s life.
Layout your financial goals and make a plan to achieve them. Everyone has different goals they are not better or worse just different and the plan to attain them is just math. It doesn’t need to be this confrontational.
Probably because it becomes everyone’s problem when the market flops due, in part, to personal reckless spending.
Serious questions here, what do you suggest people do instead of some of these? Spending money to go to your friends bachelor(ette) parties and weddings – do you suggest people not go? Same with expensive ubers – are you suggesting people drink and drive instead?
If you justify going out every weekend and spending $150-200 on a night of drinking and Ubering then I would suggest maybe either re-evaluating some of the choices you make or stop complaining that you’re broke and can’t afford to buy a house and blame others for your financial instability.
They are harsh words but if you want to get ahead financially, you can’t be making these decisions IF you can’t afford to. Just because you’re net positive $500 on a paycheck doesn’t mean you should just go out and blow it all because you “can.” That’s my point. I run into folks every day who need financial guidance and it’s never an easy discussion going over their spending and realizing how reckless it is. Create a monthly budget and set aside a portion of the paycheck for savings and then feel free to do whatever with the rest. But I’m just tired of people complaining about finances when they’re spending recklessly (at least in my eyes.)
Couldn’t agree more with you. A bunch of us went out to dinner this past weekend, I paid to get the points and everyone but one person Venmo’d me their share. That person asked I wait a few days until they get paid before they can pay me back. Wtf why are you going to a $50 a person dinner if you can’t pay for it there and then?
I absolutely pity these people. Absolutely zero self control.
That’s where you charge interest and ask “So if I didn’t pay what where you going to do?”
She was going to put it on her credit card, which I happen to know, she’s diligently paying off by making the minimum payment each month.
Don’t spend $200 on a night out or $70 on a dinner every week and budget better. Eat at home, stock up on stuff at Costco, etc. There’s so many things you can do with friends for a lot less/free and if your friends are good friends, they’ll understand.
Costco is the shit.
When I got my first job out of college and was rent poor, I would stock up on nonperishables and meat at Costco. I would spend $50 on enough chicken to last me two months, freeze it, and defrost some every week. Really taught me to budget stuff out. Also, good thing I don’t get tired of eating the same thing over and over.
You can do those things, but unless you’re printing money, you’re going to have to cut something else out. Going on a bach party that month? Pack cheap lunches, go out less, etc.
It seems so simple, but I was so bad at this right out of school and got myself into a world of money trouble. I wanted to do it all and had decent income, but it goes quickly.
Learn to say ‘no’ to people. If you genuinely can’t afford to attend an event then a true friend would understand.
Download Surge, app shows you where to find the cheapest Uber in your immediate vicinity.
got me
Well its your money, Spend it however you want. Personally I dont like the idea of working until I die or trying to live off social security if it still exists so I save money for later. If someone wants to ball out and live paycheck to paycheck thats fine, but I won’t be too sympathetic in 50 years when I read articles about how retirement is *impossible*
Don’t go to the bachelor(ette) party. Dick move for a friend to be upset you can’t throw down 1k for a destination trip… Especially if you have multiple bachelor(ette) parties that year.
Sounds like he’s suggesting we stay home every day and avoid fun to pinch pennies. You can’t take the money with you when you go, dude. Live a little.
I think he’s suggesting to live within your means. Sure you can’t take it with you but you also shouldn’t live thinking that someone will bail you out all the time either.
I totally agree with that, I just think the examples were a bit harsh. I’m not going to miss out on my best friend’s bachelorette and wedding. Those are memories you would actually cherish for a lifetime. And a dinner+drinks combo for $67 isn’t outrageous. Don’t go out and blow money like that everyday, and save up for big events, but don’t get so caught up in budgeting that you’re afraid to spend some on fun too.
To put this in perspective – if you’re spending $67 on a dinner and drinks once a week, that’s about $3,500 a year. If you’re making $55,000 a year, that means you’re spending over 10% of your post-tax salary one dinner and drinks occasion. Are the tapas and cocktails really that good to justify it?
Once a week? Yea, that would be excessive. I’m not saying to drop that much on dinner every chance you get, but spending $70 on dinner/drinks/tips doesn’t automatically mean you’re a financial moron. I think it’s fine to splurge sometimes IF you can afford to and maybe I misunderstood, but it sounds like he thinks spending that kind of money on a dinner, no matter your situation, is irresponsible.
Agree that it’s fine every once and a while and depends on the region. In SF, it’s basically impossible to have a meal with drinks for under $50, but I’d imagine that much would fetch you way more in a lower cost of living area.
And it totally depends on your financial situation. If you’re in your early 30s (still a millenial!), have 10+ years of experience and are making six digits, yeah spending that much on a restaurant isn’t going to be too painful. But if you’re a few years out of college and just getting your financial bearings together…maybe not the best of choices.
“…it’s basically impossible to have a meal with drinks for under $50”
Clearly you’ve never experienced Coors Light with Taco Bell.
I not once said spending $70 on dinner should never happen in any situation. I’m not sure how you deduced that. We’re talking about folks here that are living paycheck to paycheck or bitching about being broke or poor or not being able to afford a house. Its fine to splurge once in a while if you can afford it, but the point here is folks who can’t afford it and make it a regular occurrence.
It’s all where you place your values. To me, $67 on dinner and drinks for myself is an obscene amount of money. I can’t say I’ve ever spent more than $30 on dinner for myself anywhere, and to me, $10+ for a drink is not at all worth it.
That ‘live a little’ attitude is exactly what they’re saying is wrong. There’s nothing with staying home on weeknights or eating lunch at your desk instead of spending $300 (conservatively) on eating out throughout the month. If you’re that starved for social interaction then you need to do some self-evaluation.
What exactly is wrong with being starved for social interaction? I basically don’t do anything during the week – work, workout, make dinner. So when it comes to the weekend, I want to hangout with my friends and see them. If I end up not doing anything on the weekend I get antsy because I didn’t do anything during the week. I don’t understand why you need to so self-evaluation for that.
Why not go for a hike with friends? Or have them over for dinner and do a potluck? Or board night? There are so, so many ways to be social without dropping benjamins at your local watering hole.
There’s nothing wrong with hanging with friends, in and of itself. The problem comes in when hanging with friends turns self-destructive because you spend so much money doing it.
It’s probably and introvert/extrovert thing tbh. Introverts like me don’t feel so starved for social interaction that I couldn’t go a week without hanging with my friends. There’s nothing wrong with wanting to be around your friends or even going out with them on the weekends. The key is to find ways to spend time together that don’t require spending a ton of money, like movie nights, game nights, cookouts, etc.
Even if you do go out to bars, you can limit your costs: only bring as much cash as your planning on spending and pregame until you’re at a good level. You’re friends will probably understand if you tell them in advance that you want to go to the bar with specials instead of the expensive club because you’re trying to save a bit.
Yeah except most of us have 2/3 of our life left to live. Not a bad idea to think about the big picture…
Out of all the articles on this site, THIS is the one that spam person didn’t put the “I made $8k this month sitting at home. My divorced friend with kids made $12k..”? Missed opportunity, Jobzone.
The solutions are easy:
1. Congressional term limits
2. Forced retirement for public officials at age 70
3. Privatize social security
4. Simplify the tax code, add incentives for residential real estate development & employer-paid student loan reimbursement packages
Well, okay, they were easy to come up with. They’ll never happen, of course, so you might as well eat your feelings away with some avocado toast and a $9 mimosa.
Term limits won’t solve a damn thing.
First, if you look at states that do have terms limits, the public officials simply jump offices when their terms are up. For example, someone may be a state rep for 2 terms, then jump to the state senate for 2 terms, then run for judge for 2 terms, then run for county commissioner for 2 terms, and on and on and on.
Second, term limits get rid of both the good and the bad. It takes a long time to learn how to govern well. Experience could actually be a really good thing. Term limits get rid of public officials who have put in the time to learn how to govern well along with those who are just collecting a check. Term limits simply create a situation where you have a hundreds of new politicians who, when they finally figure out how to govern, will find that their term limits are up.
^ My math was bad. 34 year maximum*
Term limits will solve a lot of problems. A correct solution would be:
1. 3 term maximum for House of Reps (6 Years)
2. 2 term maximum for Senate (12 years)
3. 2 term maximum for vice-president (8 Years)
4. 2 term maximum for president (8 years)
So the maximum a person can hold federal publicly elected office would be 30 years. Additionally, a person can not be elected to above offices past the age of the social security retirement age (67). I also believe that the above elected offices should be paid accordingly to their respective districts, states, nations average annual income.
Again, what specific problems does it solve? It’s entirely possible to have excellent public officials above 67 ( republicans may think of reagan, democrats of Hillary, socialists of bernie, and libertarians of ron paul) and awful public officials who are young. I’m open to being persuaded, but simply because someone is old does not mean they can’t accomplish good things.
Start saving more now so you can afford to buy the discounted houses when it all crashes again.
When there’s blood on the streets
exactly. It sucks, but that’s how it’s going to be. Learn the game and embrace it. Or don’t. That’s fine too..
This is where my head is at.
Ignore the hate and blame from Boomers and Gen Xer’s, not our problem they screwed everything up, be at peace with the past and strive to make the future better for other generations so 40 years from now we’re not blaming our problems on the kids of that time, man do I hope I practice what I preach, my idealism fades with each passing year into adulthood
And the cycle continues! “Back in my day…” “Kids these days…” and before you know it you’re yelling “Get off my lawn!”
I found myself defending millennials by saying that the kids in high school/early college people complain about are actually the next generation and then realized I was perpetuating the cycle.
Don’t worry, we’re heading for another crash here shortly.
Sadly I think it’ll be a student loan crash.
Student loans (government) can’t be discharged in bankruptcy and don’t have an underlying asset to take like mortgages. Failure to pay will just result in wage garnishments. The government will get their money. I don’t think the market will “crash” like it did in the recession. I think the burden of student loan payments on millennials, and later Gen Z, will cause a drag on the economy. We wont be able to buy the homes from the boomers who are looking to downsize in retirement. We won’t be able to consume as much as previous generations, which isn’t good for our consumer and consumption based economy. I think in the next few years we will have a market correction, per the cyclical nature of the markets. But in 7-10 years we will begin to see lower and lower home prices as boomers raise the stock of available housing without a corresponding level of demand to purchase them.
at least they can’t repo your diploma, so you’ve got that going for you…