Honestly the complete disregard for GenX financial strain is getting old

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It looks inflation adjust however it is the average. Median would be far more useful for comparison.

It's strange that Boomers didn't see the same wealth drop due to the recession. They would have only been 15-20 years older, and not heavily invested in stable assets.

Boomers were born in the 1960s, GenX were born in the 1960s.

Some boomers were already working in 1970 while some boomers were in kindergarten in 1970. To lump people together because of some arbitrary name with arbitrary dates makes no sense at all. They are already labeling the GenZ group even though half are still in high school. It’s moronic.

Boomers are a longer cohort but subsequent gens were 15 years. So definitely within range of a sibling.

Generation Birth Years
Baby Boomers 1946 - 1964
Generation X 1965 - 1980
Millennials 1981 - 1996
Generation Z 1997 - 2012

[Anonymous]

Older Gen x are just boomers. They should just get rid of x and split it with boomers and millennials.

[Anonymous]

Anonymous wrote:Older Gen x are just boomers. They should just get rid of x and split it with boomers and millennials.

The divide would be who had a realistic chance of buying a house before 2000. GenX who graduated in 97-2004 really didn’t as they had no assets and student debt. But GenX who graduated in 92, totally different sorry.

[Anonymous]

Anonymous wrote:Speak for yourself. Gen X and out just fine.

+1 same here. For the record, I was impacted by the 2008 housing market but recovered and built a new house five years ago. If you still haven’t recovered after nearly 20 years, you are doing something wrong.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Speak for yourself. Gen X and out just fine.

+1 same here. For the record, I was impacted by the 2008 housing market but recovered and built a new house five years ago. If you still haven’t recovered after nearly 20 years, you are doing something wrong.

What do you mean by impacted?

I’m sure there are plenty of BigLaw partners and crypto bros doing fine, but if you are a middle class wage earner who goes through a foreclosure in 2009, you aren’t building a new home 12 years later.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Counterpoint

That’s just reflecting the shift from pension to 401k.

The second half of the boomers- the Jonesers - never had pensions and a significant fraction of the rest of the boomers never had pensions or 401s.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Counterpoint

That’s just reflecting the shift from pension to 401k.

The second half of the boomers- the Jonesers - never had pensions and a significant fraction of the rest of the boomers never had pensions or 401s.

Where did the term “Jonesers” come from?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Speak for yourself. Gen X and out just fine.

+1 same here. For the record, I was impacted by the 2008 housing market but recovered and built a new house five years ago. If you still haven’t recovered after nearly 20 years, you are doing something wrong.

It’s pyramid shaped for a reason. There isn’t enough jobs/income for everybody to “recover” even if they try to do the right things. You win, they lose (and you come here to run their faces in it).

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

My in-laws, who received substantial financial assistance from their own parents, are extremely well off but have not given their adult children anything. Even college was largely funded by the grandparents (my in-laws parents.)

Both my parents and in-laws had tons of help from their parents: wedding costs, downpayment for a home, construction help, childcare for 18 years...But neither set has passed it on, like zero help of any kind. In fact, my mil often remarks negatively on her family members and friends who help their kids. It's a little baffling how selfish and entitled they are, and not generational since so many boomers do help their kids. They do expect a lot from us as well.

I had a talk with my parents about putting money into my kids 529 accounts and my father informed me, down to the dollar, of the “gifts” I’d already received from them and pulled up a spreadsheet to prove it. The spreadsheet went back to the 90s and included every Christmas and birthday gift I got as a teenager, my dorm supplies, a curtain rod they bought for my first apartment, and souvenirs for me from the trips they’d gone on over the past 30 years including a bottle of maple syrup and a seashell napkin holder.
Reader, I have never been more speechless.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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.

My in-laws, who received substantial financial assistance from their own parents, are extremely well off but have not given their adult children anything. Even college was largely funded by the grandparents (my in-laws parents.)

Both my parents and in-laws had tons of help from their parents: wedding costs, downpayment for a home, construction help, childcare for 18 years...But neither set has passed it on, like zero help of any kind. In fact, my mil often remarks negatively on her family members and friends who help their kids. It's a little baffling how selfish and entitled they are, and not generational since so many boomers do help their kids. They do expect a lot from us as well.

I had a talk with my parents about putting money into my kids 529 accounts and my father informed me, down to the dollar, of the “gifts” I’d already received from them and pulled up a spreadsheet to prove it. The spreadsheet went back to the 90s and included every Christmas and birthday gift I got as a teenager, my dorm supplies, a curtain rod they bought for my first apartment, and souvenirs for me from the trips they’d gone on over the past 30 years including a bottle of maple syrup and a seashell napkin holder.
Reader, I have never been more speechless.

What a psycho! I can't imagine putting an iota of energy into something like that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Counterpoint

That’s just reflecting the shift from pension to 401k.

The second half of the boomers- the Jonesers - never had pensions and a significant fraction of the rest of the boomers never had pensions or 401s.

Where did the term “Jonesers” come from?

I prefer "late stage Boomers" for those of us born in the 60s. It sounds like a terminal disease, which is what some of the self-pitying types from younger generations wish for us.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Counterpoint

That’s just reflecting the shift from pension to 401k.

The second half of the boomers- the Jonesers - never had pensions and a significant fraction of the rest of the boomers never had pensions or 401s.

Where did the term “Jonesers” come from?

I heard it was based on Grace Jones, who is technically a boomer. I think it is fair to recognize that later born American Boomers are more diverse and more cool (at least to this Gen X'er) than earlier Boomers.

I also heard something about it reflecting a "Keeping Up with the Jones" mentality that the later born Boomers had. That doesn't track for me, but maybe it makes sense to you?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Counterpoint

That’s just reflecting the shift from pension to 401k.

The second half of the boomers- the Jonesers - never had pensions and a significant fraction of the rest of the boomers never had pensions or 401s.

Where did the term “Jonesers” come from?

I heard it was based on Grace Jones, who is technically a boomer. I think it is fair to recognize that later born American Boomers are more diverse and more cool (at least to this Gen X'er) than earlier Boomers.

I also heard something about it reflecting a "Keeping Up with the Jones" mentality that the later born Boomers had. That doesn't track for me, but maybe it makes sense to you?

Oops! Just checked and while Grace Jones may have been a great inspiration to later born Boomers, but she herself was born in 1948-- primo boomer birth year.