Quoted from MEuRaH:
I'm not a millennial by any means, but these kids have it a lot tougher than you ever did. College loans can keep a kid in debt until they turn 60. Getting a job means they have to take a year or two in unpaid internships. A job without an education won't be able to support yourself, let alone a family, like they used to be able to do back in the 60s.
Sorry, I gotta disagree with part of your post. Kids don't have it tougher. If you have college loans that take until you're 60 then you've made poor choices in attaining your education. I see that all around me. Parents that allow their kids to go to out-of-state schools and take degrees that are not in demand do their child no favor. Community colleges are extremely affordable and then transfer to a 4 year in-state college, or a private college that can provide a great financial package. Believe or not, there are kids that come out of college with no debt and no parental assistance.
Swinging back to the topic, the biggest indicator of financial success is the ability to delay gratification. I worry about the people that make $40K and have a collection of NIB games. In this scenario, if you haven't been putting money back towards retirement you're being irresponsible. Start with a $500 pin and work your way up to a nice collection over time while saving and avoiding debt. Just one guy's opinion... but I'm right