Gen X'er Retirement

[ReachTheBeach]

Originally Posted by texdav

I can remember such articles during entire 67 year I lived. Got to sell something is my view on many of these articles. It always seems the same ;how retirement turns out is more individual decisions unless lightening strikes; IMO.

It does get worse as far as the number of people who won't or don't have enough and lack of public funds to make up the difference.

[BayAreaHillbilly]

Originally Posted by Dave_n_Tenn

My (adult) kids are all millennials so my perspective is via observation. I have 2 savers and two spenders now.... but I believe all four will be savers.
All have zero debt from college, last one just graduated with his EE degree. My biggest saver was a Marine. He still drives his first vehicle he got from high school. I bought him a used Ford Ranger pick up. he has a ton of cash in the bank. The others have some debt (car loan) to no debt. None own a home... all rent.

Oldest is back in school for her doctorate.

One thing I see with Millies is they are generally not all that much into cars. If they drive at all (a surprising number have gone car free and will rent when they need one) they are looking for something cheap and functional. I see lots of old mini vans and SUVs that were left behind by Boomers and Xers, now being driven by Millies.

[Serious Conversation]

Originally Posted by BayAreaHillbilly

One thing I see with Millies is they are generally not all that much into cars. If they drive at all (a surprising number have gone car free and will rent when they need one) they are looking for something cheap and functional. I see lots of old mini vans and SUVs that were left behind by Boomers and Xers, now being driven by Millies.

"Not driving at all" is not an option in most of the country. For Millenials living in major urban agglomerations, sure, but for those of us in flyover country, we have to drive.

[Aredhel]

Originally Posted by Burger Fan

Boomers aren't any better at saving (and may be worse) but many of them have pensions from when companies were still doing that sort of thing, and all of them will have social security when they retire- something no one can guarantee for GenX. The SS fund is projected to be running a deficit (though not "bankrupt") by that time if nothing is changed.

Ah, but the current SS problems are due to the sheer size of the Boomer cohort. Once we Boomers die off, the much smaller cohort of Gen X geezers will be supported in their old age by the Millennials, a cohort which is nearly as large as the Boomer one. So the demographic issues now facing SS shouldn't be an issue for the Gen X'ers. (Now the Millennials, they're going to have problems when they get old, though...)