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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This boomer once had a 17.25% mortgage and never had one in the 3% area. My husband also got drafted and had to fight and get wounded in Vietnam. He didn’t want to go but he didn’t have an option and he did his duty. We have set up very well funded 529 plans for all of our grandchildren. We gift our kids a lot of money every year at Christmas and they will inherit a great amount of money. I inherited very little from my parents and my husband deferred his inheritance and it went to our children. Yes, our children and grandchildren are very lucky and unlike OPs crowd they are very grateful. [/quote]

Ofc they’re grateful for all the gifts you’re giving them. The point is - OP and her generation don’t have the same parameters to make all that money on their own, which you did have when you were younger. That’s the whole point. Unless you inherit, you’re screwed.[/quote]

PP - you’re wrong! Our kids are in the mid 30’s and make more than we did at the same age and their homes are nicer than the ones they grew up in and they bought those homes with 3% mortgages and no help, at the time, from us. How does OP not have the same parameters to make that money on their own? We didn’t start to make a lot of money until we were in our late 40’s when my husband took a very high risk job and the business succeeded beyond our expectations. [/quote]

I am like your kids - millennial, mid-30s, have a house I bought on my own (property ladder, folks) with no parental help and a 3% interest rate. Now, a lot of that was pure luck with the timing.

But, there’s always going to a range of luck and circumstances across any generation. I feel sorry for gen Zers and younger millennials who are probably shut out of a lot of the opportunities I had. I think the most part, at least amongst who I know, the older millennials have it pretty good! [/quote]

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