She's Researched Money for 30 Years—and Never Seen It This Bad for Young People, with Beth Kobliner

#737: Beth Kobliner has covered personal finance for people in their 20s and 30s for over three decades — and she says this is the hardest she's ever seen it. One in four young people now believe that betting on gambling sites and prediction markets counts as investing.

Beth Kobliner is a personal finance journalist and New York Times bestselling author of Get a Financial Life, who served on President Obama's Advisory Council on Financial Capability for Young Americans.

In this episode, we discuss:

• Why unemployment for college grads is now worse than the general population
• Why the average first-time homebuyer is now 40 instead of 28
• How tap-to-pay and neobank apps quietly drive up spending without you noticing
• Why so many young people believe gambling sites count as investing — and what the real odds say
• Whether AI is making it harder or easier for young workers to break in
• Why index funds still beat both active management and a lucky bet, long-term
• Whether college is still worth the cost in today's job market

Whether you're just starting out or already feel behind, this episode makes the case for the boring, unglamorous plan over the tempting quick one — and explains why that plan still works.

⏱️ TIMESTAMPS

Note: Timestamps may vary slightly depending on dynamic ad placements.

(00:00) Why today's 20- and 30-somethings have it harder than any generation Beth's covered

(03:04) The consumer sentiment reading that's worse than the pandemic and the Great Recession

(05:14) Why record-low unemployment doesn't mean what you think for new grads

(10:23) Why the median first-time homebuyer is now pushing 40

(13:36) The real reason behind the boom in crypto, sports betting, and meme stocks

(15:52) The "giving up" factor economists say is driving risky bets

(17:15) Why a tiny sliver of prediction-market bettors take home most of the winnings

(23:26) Is the "avocado toast" spending story about young people even true?

(43:44) How tapping your phone quietly makes you spend more than a credit card

(01:04:13) Why financial optimism is rising in countries poorer than the U.S.

🔗 RESOURCES MENTIONED

👉 A free 10-day workbook to work through your money mindset and your next move: https://affordanything.com/fiire

👉 Get Beth Kobliner’s book Get a Financial Life: https://amzn.to/3Ty9tTJ

👉 A Random Walk Down Wall Street by Burton Malkiel, the index-fund classic Beth and Paula both referenced: https://amzn.to/4bq9IGC

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