Reply to In our 50s, have never been able to create wealth

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[quote=Anonymous]“I’m a loser, Baby” - Beck

https://m.youtube.com/watch?v=tSWyNgXeyqA

Essentially most of GenX was wiped out by dot.com and GFC. We had a lost decade of stocks, so we essentially started from same place Millenials (who did have a rough job market for a hot minute, but then the best job market in history).

But, for GenX, we were older after GFC, so we had to invest more conservatively and the hot tech jobs weren’t hiring us because we were “over 30” (thanks Zuck!).

The only redeeming factor would be if you bought a house before the housing bubble (before 1998 or so) AND didn’t lose it in foreclosure or have to sell when it was underwater AND lived in a place that appreciated you made some solid gains and had lower COL by having a smaller mortgage.

But the huge outsize returns in stocks, crypto etc were rewarded to those who could take more risk, which at that point the wisdom was that you shouldn’t. And you weren’t getting those BigTech jobs by and large.

But no one talks about GenX, so you feel like it’s only you.  They ALWAYS talk about Boomers, Millennials, and Gen Z — never X. [/quote]

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