Reply to Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]To the person above:  where I live, there are a lot of older boomer women who have literally never worked a day in their lives.  they spend their days going to bible studies and out to eat, swimming at the y and bragging about their grandchildren.  I had never read an obituary before for someone who had never worked.  They are strange.

So yes, I do think it's wrong that the government provides free healthcare to women who have never worked a day in their lives, while children go without.  I don't buy the argument that everything every boomer has is because they earned it, and that they have earned so much more than the rest of us.

and suggesting that since they suffered we should suffer to sounds a bit like those people that try to justify fraternity hazings.  Just make the system better.  don't think that because you put up with it, we should put up with it too. [/quote]

Along these lines, I think it's gross when there are Boomers are getting benefits and Social Security AND sitting on paid off houses, but they forced their own kids to borrow money for college. I know people who had their kids take out loans to attend in-state colleges because they had not saved a penny for college educations, but then 10 years later those kids are still paying down those loans while their boomer parents are retiring. It does not compute.

It's so weird to me that Boomers have so much wealth but we still have so many people with education debt, including people from MC or even UMC backgrounds (so not poverty). Why didn't some of that money go to pay for college for their kids??? To me that's one of the main things I'm working to pay for.[/quote]

My boomer parents simply did not understand why college cost so much and why we didn't qualify for more aid.  It took them completely by surprise that the expected family contribution per month was more than their mortgage.  They just didn't keep up with the times and didn't think it was something you needed to save for until it was too late.  Whereas we opened 529 accounts for our kids as soon as they were born.[/quote]

Same. My parents had no idea and I wound up self funding my education, including with loans, and it took me forever to pay them off.

But annoyingly, my parents (who are genuinely rich now -- they are comfortably millionaires) STILL don't understand the cost of education. We opened a 529 for our kid right after she was born and my parents have never contributed to it. I mean, I guess they aren't required to, but I think it's weird. They claimed they couldn't pay for my college because they didn't realize it would cost so much, but now they are rich and still aren't really interested in investing in education. Their choice, I guess.

But it's stuff like this that gets Boomers a rep for being selfish and short-sighted. [/quote]

I have news for you. Even with a million or two or three, your parents may legitimately worry about outliving their savings. [/quote]

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