Reply to Honestly the complete disregard for GenX financial strain is getting old

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]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.         [/quote]

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. [/quote]

A child bride is on the thread. I am a boomer and I was only 46 in 2008. Had my little starter home, small 401k, my paid off Ford Taurus and GMC SUV. I was way too young to be impacted. And you are way younger. I was a child almost. Now I knew guys older than me around 55-62 and they were in kids in college phase, had a mortgage, leased cars and some even two mortgages, main home and a beach place. And they were high income at places like Bear Sterns, Lehman Brothers. etc. These folks were killed in Financial crisis. And some had a lot of company stock that went belly up. And many never worked again as by time economy recovered the age discrimination hit them. I was young back then even as a Boomer. And my networth not that much a fall in value did not matter.

Gen X at my company in financial crisis were young, educated, and mostly unimpacted by 2008. My direct reports back then were only 24-36. Someone born 1980 was only 28 in 2008 and most likely was partying at the Jersey Shore or going to Spring Break in 2008. And they are GenX

Now if we had another 2008 this time GenX would get killed. A 40 percent drop in stocks when you have five million hurts a lot more than a 40 percent drop when you have $50,000.                 [/quote]

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