Honestly the complete disregard for GenX financial strain is getting old

[Anonymous]

Anonymous wrote:My husband and I are Gen X (born in 70s) while his sister is a Millennial (born in 80s). There is a noticeable difference in how his parents treat us (50 with children) and his sister (30s no children). Notably - they give her all sorts of money and support ("people in their 30s are having such a hard time right now") and have never offered to support us at all - not even when DH was unemployed for a full year and we were dipping into our savings to make ends meet. Meanwhile, they just handed his sister $250K for a down payment on a condo. She HAD the money to buy it herself, and she still took the gift. So yeah, I agree, Gen X just gets ignored.

I believe that boomers think of their childless children as “still getting started” while their kids with families are “established”. Husbands sister is LATE 30s and my ILs still pay some of her bills and give her extravagant presents. She travels and goes out to eat. We have way more need for money since we are raising children but they wouldn’t dream of giving us anything and frankly i wouldn’t want to take it. FIL refers to her as younger than us when she is three months younger than I am.

[Anonymous]

Anonymous wrote:

Anonymous wrote:55 and older should if they are financially able, but many don’t! It's a disservice.

It’s healthcare. Fix that and then you will see more early retirements. A buy in option to Medicare for 55-65 would help.

Yes, high health care costs in middle age keep people enslaved in jobs they don't want.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:55 and older should if they are financially able, but many don’t! It's a disservice.

It’s healthcare. Fix that and then you will see more early retirements. A buy in option to Medicare for 55-65 would help.

Yes, high health care costs in middle age keep people enslaved in jobs they don't want.

+1 and if they have young adult children graduating into a terrible job market, they can keep them on until 26, too.

[Anonymous]

Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:55 and older should if they are financially able, but many don’t! It's a disservice.

It’s healthcare. Fix that and then you will see more early retirements. A buy in option to Medicare for 55-65 would help.

Yes, high health care costs in middle age keep people enslaved in jobs they don't want.

Correct. Spouse would switch to PT consulting by 50 if not needing to provide healthcare.

[Anonymous]

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

You tell them, sister. I agree.

[Anonymous]

Anonymous wrote:

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.

100% I am STUCK because of all these old men who need to retire.

maybe you are just not as good at your job as you think you are? Companies find a place for rising stars. Everyone else just has to wait in line.

Um, do you even have a job?

[Anonymous]

Gen X is such a forgotten generation

[Anonymous]

If you have to blame your advancement on an entire generation the problem is You.

I find it amusing that people want to hate on boomers who continue to work. Just sounds like a bunch of whiners who can't win and need to blame someone for their failures

[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.

How can us Boomers leave when the Gubermint wants to steal our retirement money. The proposed 50k max social security benefit will be frozen until all the high earners are making the same amount monthly as the average retiree at $2k month. We can't afford to retire.

[Anonymous]

Funny part is people forget a lot of Boomer men are straight, younger stay at home wife with 3-4 kids.

For example when I turn 65 my wife will be 63.5. She is on my medical plan. So when I get Medicare she won’t. My youngest kid will still be in college on my medical plan. Plus my will be paying tuition.

So 65 my bills don’t magically go away

[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.

How can us Boomers leave when the Gubermint wants to steal our retirement money. The proposed 50k max social security benefit will be frozen until all the high earners are making the same amount monthly as the average retiree at $2k month. We can't afford to retire.

What? This hasn't happened and if you retire, I'm sure your benefits will be grandfathered in while everyone younger pays the same for lower benefits. My parents just changed their plans and started taking SS before 70 because they wanted to "lock in" benefits at the current level. Don't just work forever.

[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.

I am a gen-ex and we have weathered through things. We bought a house in 1997 and held steady through the ups and downs of the market. We retired last year and sold our house for a nice profit and the buyer tore it down. We lost money in the dot.com bust, but kept up our 401ks. We weathered job loss. Our 401ks have done well since 2000. We have more than enough for retirement.

Plenty of boomers have quit, it’s just that there are so many of them that it feels like they are staying on. It was harder early in our career to move up because so many had come before- but we stayed in technical roles and that served us well.

This made everything possible, including keeping cash in stocks from the 2000s. Late GenX were stuck with expensive housing which eliminated any realistic investment

[Anonymous]

Anonymous wrote:Gen X is such a forgotten generation

Yep. But we had the most adventures and fun from childhood to our 20’s. It was the best.

[Anonymous]

Anonymous wrote:

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.

I am a gen-ex and we have weathered through things. We bought a house in 1997 and held steady through the ups and downs of the market. We retired last year and sold our house for a nice profit and the buyer tore it down. We lost money in the dot.com bust, but kept up our 401ks. We weathered job loss. Our 401ks have done well since 2000. We have more than enough for retirement.

Plenty of boomers have quit, it’s just that there are so many of them that it feels like they are staying on. It was harder early in our career to move up because so many had come before- but we stayed in technical roles and that served us well.

This made everything possible, including keeping cash in stocks from the 2000s. Late GenX were stuck with expensive housing which eliminated any realistic investment

Im late genx and have incrementally invested in real estate, and held , starting just before the crash in early 2000s. last property i purchased was in 2000 when covid broke out and thats wayy up and Im about to pick up another one and close next month. If you take risks and have an investment and. it a consumption mindset , doesnt matter what decade you were born you will do well. I have no experience selling a house, never done that.