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

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[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]

This is such a deeply stupid point of view.

My dad is a boomer.  He worked full time all through college because his parents were poor and he was the first in his family to go to college.  Then he went to Viet Nam.  The.n he worked for 49 years without a significant break, usually 60 or more hours per week.  Weekends when he wasn’t working, he fixed his house and his cars, did enhancements that increased his property value, and taught his kids to fix houses and cars.  He’s rich, but he and my mom paid someone to clean their house.  They cooked at home. They didn’t buy Starbucks.   They never owned an expensive car until my dad bought a vintage Jag in his sixties, fixed it up and sold it for more than he paid for it.

This wealth came from work OP.  You should try it. [/quote]

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