Honestly the complete disregard for GenX financial strain is getting old

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomers have very good social security benefits with no means testing. They do not NEED to keep working and delaying retirement. They also won’t give up their family sized homes that younger people need to start families.

Meanwhile they complain that they don’t have many grandchildren. And that it’s expensive to hire people to cut their grass, repair their spare 2 bathrooms, snowblower their long driveways. It’s ridiculous. Poor them.

They just care A LOT about their peers’ opinions.
My parents had an enormous house on 2 acres of land. I convinced them to downsize and when they saw houses that would be an appropriate size (no stairs, 2 bedrooms) they were appalled. My mom said “I need to be PROUD of my home! My friends wouldn’t be impressed by this.” They ended up in a huge “luxury” townhouse with two flights of stairs. But at least they got rid of the yardwork problem.

Your mom is right. Those tiny 2br "retirement" homes are depressing. Most of them don't even have enough space for a proper dining table that would seat 8-10 people. Tiny closets, no storage. We are not ready to downsize yet (youngest still at home) but what I have seen is not very encouraging. We will likely either stay put and remodel or do a partial downsize to something like a large townhome for 10 or so years before downsizing again.

Why do you need a dining room to host 10 people? Isn’t it time for the next generation to get to own a home with space to raise their kids and be the one entertaining?

Also I don’t think rattling around in a 5 BR house in your 70s is something to be proud of, especially if you’re in generic suburbia. If I didn’t have kids I’d be in a smaller luxury home in an upscale city. No one is fawning over Barbara’s 80s track built home in Loudoun.

NP-It kind of sucks being the working mom with kids who always entertains. My in-laws have a cramped 1 bedroom and never entertain and I am a little over it. My mom has her big house still and while she doesn't do the heavy lifting of entertaining anymore (caters or has us all pitch in) it's so nice to go to her house and feel welcomed and like for once I am not hosting.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Politically it’s the Boomers that won’t leave.

How old are GenX, millennials and GenZ anyway?

A full 59% of Gen Xers are staring down the barrel of retirement age without adequate preparation, and a shocking 60% of all boomers not yet retired may still be working because they don’t have enough savings on which to comfortably retire.

They look pretty equal although I don’t know what age group they’re talking about.


https://finance.yahoo.com/news/why-gen-z-may-retire-120850724.html

Boomers are not leaving partially at my company Genx are all FIRE or not qualified to take our jobs. At home our Millennial and GenZ kids are getting married later and later. My three kids none are close to marriage yet. I have no grandkids to visit, no weddings to plan. etc. Ironically, when I was young work was brutal. five days a week in the office, we work from 8am to around 630 pm then we had up to a three hour round trip commute. I would leave for work at 650am and get home at 730 pm most days. We had hardly anyone over 50-55 as it was such stress they could not keep up.

Gen Z and Milennials the laziest generation and to me now the greatest generation created Work Life Balance, dress down, Work from Home, Remote work. It made work so easy. My job it is two days a week in person, dress down. can make it flex time to avoid traffic, then remote the other three days. I have a 68 year old guy at work. He bought his retirement home by Chesapeake Bay. Guess what he gets paid $250,000 he drives in Wed morning, stays over Wed evening in a hotel by office one night, then starts work earlier as at hotel by office and leaves for day at 3 pm. Since 2020 hardly anyone is retiring. We were remote a few years now only back two days a week. I may do it till 70 at least. If my work said 5 days back in office, suit and tie and pantyhouse and high heels for ladies. we all work 8am to 6pm 5 days a week the older boomers would drop like flies and younger people would have job opportunities.

But no one has the balls to do it.

I can't tell if this is a voice to text debacle or just an absolute inability to adequately grapple with the English language. Either way, it's virtually impenetrable, and what I can glean from it is a mix of idiocy and faux macho nonsense. 0/10, do not recommend.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Gen X was not old enough to barely impacted at all by 2000 stock market crash or 2008 Financial crisis.

I am a younger Boomer and I was too young to be impacted. I am not yet 65 yet so no taking anyones job. 2001-2003 2008-2018 were just buying opportunities for stocks for me an all of Gen X.

Generation X generally includes individuals born between 1965 and 1980.

Homes were priced pretty good between 2009 and 2019 so that would be 29 to 54 peak home buying years for both starter and trade up homes.

If anything older Boomers had it worse. Many bought trade up homes or newly retired from 2005-2007 and saw home prices collaspe along with their 401ks at a time they were doing RMDs, so selling at the bottom.

What are you even talking about??? We are young GenX and we were definitely impacted by the 2005-2007 housing bubble/bust and the 2008 financial crisis. We got stuck in our starter home (underwater) for a very long time and spouse lost his job in 2008, taking almost a year to find another one.

+ 1. I was born in 1975 - solidly Gen X. I was 30 years old in 2005. How in the world does this idiot poster think my generation escaped 2005-2007 housing crisis and the financial meltdown of 2008? We could barely afford a house and overbid by over $60,000 to get our crappy house in Arlington. Then my husband’s business almost went under in 2008.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Gen X was not old enough to barely impacted at all by 2000 stock market crash or 2008 Financial crisis.

I am a younger Boomer and I was too young to be impacted. I am not yet 65 yet so no taking anyones job. 2001-2003 2008-2018 were just buying opportunities for stocks for me an all of Gen X.

Generation X generally includes individuals born between 1965 and 1980.

Homes were priced pretty good between 2009 and 2019 so that would be 29 to 54 peak home buying years for both starter and trade up homes.

If anything older Boomers had it worse. Many bought trade up homes or newly retired from 2005-2007 and saw home prices collaspe along with their 401ks at a time they were doing RMDs, so selling at the bottom.

What are you even talking about??? We are young GenX and we were definitely impacted by the 2005-2007 housing bubble/bust and the 2008 financial crisis. We got stuck in our starter home (underwater) for a very long time and spouse lost his job in 2008, taking almost a year to find another one.

I had an 8.mumble% mortgage in the late 90s. And then the prices tumbled. That was nice.

[Anonymous]

Anonymous wrote:https://www.wsj.com/personal-finance/millennials-vs-boomers-charts-e6f1971b


I know it’s non stop Boomers and Millenials but many GenX were ruined by the dot.com and housing busts and had the lost decade up to the GFC. Careers haven’t advanced because boomers WILL NOT LEAVE.

This is dumb. .com was done and gone and recovered from in 24 months. GFC as you put it was done and gone for most people in 24 months and for the rest in 36 months. These, now, all these years laters are excuses for poor planning and performace not real things. Boomers are not leaving and neither are you when you get that age. New norms and it is your job to adjust to it. There is no GenX financial strain is people did things right.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gen X was not old enough to barely impacted at all by 2000 stock market crash or 2008 Financial crisis.

I am a younger Boomer and I was too young to be impacted. I am not yet 65 yet so no taking anyones job. 2001-2003 2008-2018 were just buying opportunities for stocks for me an all of Gen X.

Generation X generally includes individuals born between 1965 and 1980.

Homes were priced pretty good between 2009 and 2019 so that would be 29 to 54 peak home buying years for both starter and trade up homes.

If anything older Boomers had it worse. Many bought trade up homes or newly retired from 2005-2007 and saw home prices collaspe along with their 401ks at a time they were doing RMDs, so selling at the bottom.

What are you even talking about??? We are young GenX and we were definitely impacted by the 2005-2007 housing bubble/bust and the 2008 financial crisis. We got stuck in our starter home (underwater) for a very long time and spouse lost his job in 2008, taking almost a year to find another one.

+ 1. I was born in 1975 - solidly Gen X. I was 30 years old in 2005. How in the world does this idiot poster think my generation escaped 2005-2007 housing crisis and the financial meltdown of 2008? We could barely afford a house and overbid by over $60,000 to get our crappy house in Arlington. Then my husband’s business almost went under in 2008.

That is called life. Based on what you wrote the impacts were minimal

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gen X was not old enough to barely impacted at all by 2000 stock market crash or 2008 Financial crisis.

I am a younger Boomer and I was too young to be impacted. I am not yet 65 yet so no taking anyones job. 2001-2003 2008-2018 were just buying opportunities for stocks for me an all of Gen X.

Generation X generally includes individuals born between 1965 and 1980.

Homes were priced pretty good between 2009 and 2019 so that would be 29 to 54 peak home buying years for both starter and trade up homes.

If anything older Boomers had it worse. Many bought trade up homes or newly retired from 2005-2007 and saw home prices collaspe along with their 401ks at a time they were doing RMDs, so selling at the bottom.

What are you even talking about??? We are young GenX and we were definitely impacted by the 2005-2007 housing bubble/bust and the 2008 financial crisis. We got stuck in our starter home (underwater) for a very long time and spouse lost his job in 2008, taking almost a year to find another one.

+ 1. I was born in 1975 - solidly Gen X. I was 30 years old in 2005. How in the world does this idiot poster think my generation escaped 2005-2007 housing crisis and the financial meltdown of 2008? We could barely afford a house and overbid by over $60,000 to get our crappy house in Arlington. Then my husband’s business almost went under in 2008.

At 30. I would 99 percent of people I worked with were single living in Manhattan in rent stabilized apts with no car and a small 401k. Their networth was mainly imaginary money. Small 401ks or IRAs they were not touching for at least another 35 years. A few were near point of getting engaged or married. And your cheap starter home in Arlington you got as a bargain. My old house at peak of bubble my little starter home was worth 500K. Wow, today it is worth 800K.

I highly doubt the guy who was GenX who got married young who bought in spring 2006 it mattered. By now he most likely by fall of in 2000 refinanced to a ten mortgage at 2 percent and has a crazy low payment and is mortgage free in 4 years .

You know who 2008 hurt my older sister, she married a guy three years old. So he is born 1954. He bought a trade up home in 2003. He did a zero down balloon mortgage ten year mortgage and rolled the sale of his starter home into stock market then in 2008 he lost his good full time job and 40 percent of his stock portfolio. He never recovered. He has never worked a full time job again By time job market recovered he was too old to be considered a good job.

[Anonymous]

Anonymous wrote:Gen X was not old enough to barely impacted at all by 2000 stock market crash or 2008 Financial crisis.

I am a younger Boomer and I was too young to be impacted. I am not yet 65 yet so no taking anyones job. 2001-2003 2008-2018 were just buying opportunities for stocks for me an all of Gen X.

Generation X generally includes individuals born between 1965 and 1980.

Homes were priced pretty good between 2009 and 2019 so that would be 29 to 54 peak home buying years for both starter and trade up homes.

If anything older Boomers had it worse. Many bought trade up homes or newly retired from 2005-2007 and saw home prices collaspe along with their 401ks at a time they were doing RMDs, so selling at the bottom.

Dot.com meant many late GenX unemployed, and then when finally recovered and stretched to buy a house by 2005, crushed by housing bubble.

And the entire 2000-2010 was a lost decade, buying then and no advantage to keeping cash and buying 2011.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Politically it’s the Boomers that won’t leave.

How old are GenX, millennials and GenZ anyway?

A full 59% of Gen Xers are staring down the barrel of retirement age without adequate preparation, and a shocking 60% of all boomers not yet retired may still be working because they don’t have enough savings on which to comfortably retire.

They look pretty equal although I don’t know what age group they’re talking about.


https://finance.yahoo.com/news/why-gen-z-may-retire-120850724.html

Boomers are not leaving partially at my company Genx are all FIRE or not qualified to take our jobs. At home our Millennial and GenZ kids are getting married later and later. My three kids none are close to marriage yet. I have no grandkids to visit, no weddings to plan. etc. Ironically, when I was young work was brutal. five days a week in the office, we work from 8am to around 630 pm then we had up to a three hour round trip commute. I would leave for work at 650am and get home at 730 pm most days. We had hardly anyone over 50-55 as it was such stress they could not keep up.

Gen Z and Milennials the laziest generation and to me now the greatest generation created Work Life Balance, dress down, Work from Home, Remote work. It made work so easy. My job it is two days a week in person, dress down. can make it flex time to avoid traffic, then remote the other three days. I have a 68 year old guy at work. He bought his retirement home by Chesapeake Bay. Guess what he gets paid $250,000 he drives in Wed morning, stays over Wed evening in a hotel by office one night, then starts work earlier as at hotel by office and leaves for day at 3 pm. Since 2020 hardly anyone is retiring. We were remote a few years now only back two days a week. I may do it till 70 at least. If my work said 5 days back in office, suit and tie and pantyhouse and high heels for ladies. we all work 8am to 6pm 5 days a week the older boomers would drop like flies and younger people would have job opportunities.

But no one has the balls to do it.

I can't tell if this is a voice to text debacle or just an absolute inability to adequately grapple with the English language. Either way, it's virtually impenetrable, and what I can glean from it is a mix of idiocy and faux macho nonsense. 0/10, do not recommend.

Thank you. I'm glad I read your assessment first and didn't waste time. The thing we hate most about the boomers was their "we did and suffered and so should you" - not "let's all make the world a little better". Can't have that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.wsj.com/personal-finance/millennials-vs-boomers-charts-e6f1971b


I know it’s non stop Boomers and Millenials but many GenX were ruined by the dot.com and housing busts and had the lost decade up to the GFC. Careers haven’t advanced because boomers WILL NOT LEAVE.

This is dumb. .com was done and gone and recovered from in 24 months. GFC as you put it was done and gone for most people in 24 months and for the rest in 36 months. These, now, all these years laters are excuses for poor planning and performace not real things. Boomers are not leaving and neither are you when you get that age. New norms and it is your job to adjust to it. There is no GenX financial strain is people did things right.

Wow, you are so out of touch. We have Trump because of the GFC and the malaise that has impacted so many people.

[Anonymous]

Sorry, GenX sought attention by voting for MAGA yet they still skipped over GenX donors to appoint GenZ in federal government positions.

[Anonymous]

There is a new article in the Wall Street Journal asking who got screwed more--Boomers or Millennials.

It's as if we Gen Xers simply....don't exist.

[Anonymous]

Anonymous wrote:Sorry, GenX sought attention by voting for MAGA yet they still skipped over GenX donors to appoint GenZ in federal government positions.

Please stop saying this. Just because a slight majority (54%) of voters aged 50+ voted for Trump, does not mean the entire generation is MAGA. At least attempt to use critical thinking skills.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:If the Boomers are so wealthy, won't Gen X inherit their massive wealth? And ditto for Gen Z.

Being poor is really normal when you're just starting your career and I think it's normal to be envious. I remember wondering how so many adults from my parents generation could have money, yet most were extremely unimpressive. I think most made their money by simply investing in their 401k. Compounding returns is an amazing thing!

Some Boomers are out spending it all. Others are just a long way from being dead. My parents and in-laws are only early 70’s. They could have a long ways to go yet.

Snort. Some of our parents are spending their last time, gleefully, since they "raised their kids" and now it's "me time."
Fine.

But our boomer parents have never given us one cent. Ever.

My parents gave us their old washing machine and two of their old cars (one of which died within months). This was in our 20s.
My ILs have never given us anything.
Both of them got $ from their own parents though! My grandparents gave my parents money to add two bedrooms and a bathroom onto their house. I can’t even imagine accepting a gift of that size.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Politically it’s the Boomers that won’t leave.

How old are GenX, millennials and GenZ anyway?

A full 59% of Gen Xers are staring down the barrel of retirement age without adequate preparation, and a shocking 60% of all boomers not yet retired may still be working because they don’t have enough savings on which to comfortably retire.

They look pretty equal although I don’t know what age group they’re talking about.


https://finance.yahoo.com/news/why-gen-z-may-retire-120850724.html

Boomers are not leaving partially at my company Genx are all FIRE or not qualified to take our jobs. At home our Millennial and GenZ kids are getting married later and later. My three kids none are close to marriage yet. I have no grandkids to visit, no weddings to plan. etc. Ironically, when I was young work was brutal. five days a week in the office, we work from 8am to around 630 pm then we had up to a three hour round trip commute. I would leave for work at 650am and get home at 730 pm most days. We had hardly anyone over 50-55 as it was such stress they could not keep up.

Gen Z and Milennials the laziest generation and to me now the greatest generation created Work Life Balance, dress down, Work from Home, Remote work. It made work so easy. My job it is two days a week in person, dress down. can make it flex time to avoid traffic, then remote the other three days. I have a 68 year old guy at work. He bought his retirement home by Chesapeake Bay. Guess what he gets paid $250,000 he drives in Wed morning, stays over Wed evening in a hotel by office one night, then starts work earlier as at hotel by office and leaves for day at 3 pm. Since 2020 hardly anyone is retiring. We were remote a few years now only back two days a week. I may do it till 70 at least. If my work said 5 days back in office, suit and tie and pantyhouse and high heels for ladies. we all work 8am to 6pm 5 days a week the older boomers would drop like flies and younger people would have job opportunities.

But no one has the balls to do it.

I can't tell if this is a voice to text debacle or just an absolute inability to adequately grapple with the English language. Either way, it's virtually impenetrable, and what I can glean from it is a mix of idiocy and faux macho nonsense. 0/10, do not recommend.

Yes, seems like garbled speech to text.

I know exactly zero Gen X who've been able to "FIRE" but I am sure some are out there. Those of us in our late 50s, and boomers in early 60s are pretty much looking at working until at least 65, and in most cases 67-70 to get full social security, and praying it's going to be around.

DH was just promoted to a management position after working for 30 years, because enough boomers finally retired. And I realize there are boomers out there who can't afford to retire earlier either.

We are both in our late 50s and are trying to figure out side jobs we can do to help support ourselves after we actually retire. We can not afford to buy a smaller house in a 55+ community currently: adding an HOA fee (thankfully don't have one now) on top of the new mortgage we would need --because even the profit / principal we have in our larger sfh will not fully pay the cash price for a new smaller house.

And we are "successful" compared to most of my LMC relatives and old friends from "back home." We don't have debt, we have health insurance, we have been able to save for retirement and build equity in our house. And we are just trying to keep up with inflation at this point. We are getting zero raises this year, not even a cost of living raise.