ELI5: In the 50's a single person in the US with a decent job requiring little or even no education could provide a comfortable home, education for their children, etc etc by themselves. Why were they paid so much or why hasn't that pay transitioned to 2017?

I grew up in a blue collar home. My parents both worked, my dad as an HVAC mechanic (some college), my mother in an office job (bachelors).

I went to a state university and graduated with a liberal arts degree in History in 2001 right after 9/11, when there were literally no jobs in the area. I had a pretty terrible GPA but enough to gain the degree.

After making a 700 mile move to get paid $12.24/hr, I worked my way up through companies and jobs. I ended up at a for profit university which offered free ($5250/yr) schooling. I earned a masters degree in Public Administration.

I now work in marketing analytics. I make in the mid 160s. I live in a townhouse that is $700/month. I carpool or ride mass transit to work. We just bought our first second car (we've been together for 15 years) yesterday, used, in cash. We have a second home (also $700/month). We haven't had cable TV since 2008. We have never bought new furniture; in fact, all of our couches have been used and we got them for free from family or friends. We have a single 32" TV.

We live a super comfortable life but we are by no means rich. We can afford for my wife to stay at home with our two kids but she'll be going back to work this year now that our youngest is going to Kindergarten.

I wasn't born with a silver spoon in mouth. I went to college and received the largely derided liberal arts education but still make a good living putting me in the top 2% of wage earners.

It bothers me to see others feel they need to come from a rich family or go to a big name school or get lucky rather than making smart moves with their lives and careers. It is possible, it just takes time and energy and the knowledge you need to do it for yourself, no one is going to make it happen for you.

/r/explainlikeimfive Thread Parent