Boomers will leave their wealth to the next generation - a generation that had everything easier. Gen X'tra. They always demand more than they have coming. |
I am Gen X with a borderline boomer parent born in 45. My boomer parent had great pension at every every company they were with until the mid to late 80s. And being boomers they were only with two or three. Then when 401k was rolled in they whined about having to fund their own retirement. They lacked financial savvy and didn't bother trading up much about this new vehicle and how to invest. There was no excuse for this, since my boomer was only in their 40s when pensions disappeared. On and when the pension disappeared my boomer got a nice fat cheque that should have been rolled into the 401k. But no, they spent it on cars, remodelling the house etc. They invested in safe and sound cash option and then when they retired they rolled every single dollar they had into CDs. My boomer parent was a decent saver but a terrible investor who did not have any understanding of the stock market, inflation erosion etc. Now my boomer parent is in their upper 70s and whining about what little CDs they have, how poor they are, how social security is so low, and I am now starting my financial support. Im sure some people have more savvy boomer parents but this is only my personal experience
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Sssshhh you aren't supposed to say that lol. Let's all put our heads in the sand...1-2-3-GO! |
Wait. How are boomers blocking younger people from getting jobs? Explain to me like I'm 5 please. |
It is astonishing to me that people think Gen X had it so much easier. First generation from broken families. Mostly neglected, not always benignly. Education funding cut. Graduated into a recession. The list goes on. Now we have college aged kids and are struggling to afford bloated tuition while incomes haven’t kept up with costs. Our retirement savings are inadequate and many of us are caring for our aging Boomer parents who don’t have enough money because they spent stupidly.
Boomers, sure. But they pulled the ladder up behind them for all of us. |
Which is why a lot of us age 45-65 are dropping dead like flies. A lot of stress and then you add Covid. Doesn't matter if you are skinny or not. |
What a damn depressing post op. Get a life |
Back in the 1980s cd were paying 10%+ interest better than the S&P. So the weren't that stupid to invest in CDs. The real stock market growth was later. A lot of middle class people didn't trust the stock market, it was a gamble. Prior generations didn't like risky investments or getting in debt, just the opposite of today's investors - crypto, not, meme stocks. |
Boomers had it much tougher, especially women. Women couldn't have men's jobs, mens pay,, college admissions, school sports - women couldn't run in marathons - discrimination was legal. Abortion rights hard won in the 1970s. Young Men were drafted into a war. Boomers studied and worked without the internet, pcs, cell phones, printers. There were terrible recessions and whole industries like steel, manufacturing jobs left, towns died and people fell from the middle class into poverty - Boomers lost their livelihood in the 1980s. It's astonishing how little younger people know about recent history. |
It's a lie. That's the explanation. |
I’m so sorry. Hugs! |
It really is! |
This about the Boomers everyone bemoans. I’m 60 and at the end of that generation. Age discrimination at work is real. I’ve never had a job with a pension. As for the subject of this thread, I have had a couple friends die in their late 50s in the last few years, one of Covid, the other of ALS, but so far the rest of us are hanging in there. |
Much of GenX didn't have internet, cell phones, etc. either. There are boomer women running marathons NOW and for the past several decades. Katherine Switzer won NYC in 1974--when Boomers were all still under the age of 30! The "terrible recessions" you describe are nothing compared to what their parents went through in the great depression. It's astonishing how someone on DCUM will post misinformation and leave out facts about recent history. |
Probably 85, or sooner if I lack mobility or cognition. |