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Next to me were two young men...just the type who are now making the 200K per year each. They ordered two pizzas with a bunch of toppings...a couple salads, a side or two and then - as I watched - they each had 3 fancy cocktails. In NYC these had to be $20 each. I left before they did, but their bill had to be about $200...in a PIZZA place.
Imagine the future compounded value of that money - all pissed (and pooped) back out within a few hours.
They can afford it. They earned the money and it's theirs to spend. Why do you care about the future compounded value of the money? So they can spend it later in life, instead of now, and be criticized for it then instead of now?
When you were born has nothing to do with success, financial acuity, the American dream, happiness, or a comfortable retirement. All this generational stuff is nonsense. There have been wealthy and poor, long and short lived, early retired and never retired in every single generation. Media hype so that excuses can be made and conflict generated for attention. Certain facts can make certain experiences different but it is the individuals desire to succeed and doing what it takes to get there that makes the difference. In both mine and my wifes families we have fairly successful to practically destitute on both sides. And every one of us is totally different in what they considered important in life and how they handled it. If the OPs huband is a financial fool, or a materialistic pursuant, it has nothing to do with being a Boomer. No previous generations on my side of the family ever were market investors or had pensions. My wives father had one (airline) and was a poor investor. 4 out of 21 of our generation has them. 7 out of 21 finished college, with 5 of 21 fairly comfortable with savings and set for retirement. 1 out of 26 of the children of our 21 have any financial sense with 7 of the 26 college grads or in college. I see none of the children of our generation even one iota concerned with their retirement future. The scary theme amongst them is "it will all work out somehow" and they expect to inherit from their parents success, if there was any.
Last edited by Perryinva; 11-10-2016 at 01:01 AM..
They can afford it. They earned the money and it's theirs to spend. Why do you care about the future compounded value of the money? So they can spend it later in life, instead of now, and be criticized for it then instead of now?
I don't care if they buy pizza and cocktails; I get annoyed when they spend it on housing and thereby make housing unaffordable to the pizza cooks and dishwashers, because then they are messing with my meager standard of living.
When you were born has nothing to do with success, financial acuity, the American dream, happiness, or a comfortable retirement. All this generational stuff is nonsense. There have been wealthy and poor, long and short lived, early retired and never retired in every single generation. Media hype so that excuses can be made and conflict generated for attention. Certain facts can make certain experiences different but it is the individuals desire to succeed and doing what it takes to get there that makes the difference. In both mine and my wifes families we have fairly successful to practically destitute on both sides. And every one of us is totally different in what they considered important in life and how they handled it. If the OPs huband is a financial fool, or a materialistic pursuant, it has nothing to do with being a Boomer. No previous generations on my side of the family ever were market investors or had pensions. My wives father had one (airline) and was a poor investor. 4 out of 21 of our generation has them. 7 out of 21 finished college, with 5 of 21 fairly comfortable with savings and set for retirement. 1 out of 26 of the children of our 21 have any financial sense with 7 of the 26 college grads or in college. I see none of the children of our generation even one iota concerned with their retirement future. The scary theme amongst them is "it will all work out somehow" and they expect to inherit from their parents success, if there was any.
When you were born has something to do with the economic environment in which you live. Early baby boomers had first shot at good jobs and promotions, while late baby boomers went through life with a glut of early boomers ahead of them.
People who are born into small generations - perhaps a baby bust - will have less competition for jobs and for houses, and therefore will have more opportunities.
When you were born has something to do with the economic environment in which you live. Early baby boomers had first shot at good jobs and promotions, while late baby boomers went through life with a glut of early boomers ahead of them.
People who are born into small generations - perhaps a baby bust - will have less competition for jobs and for houses, and therefore will have more opportunities.
Nice try, but a massive fail. You and I were born at almost exactly the same time. I have succeeded, you have failed. In spite of you having a college degree and being a man.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Quote:
Originally Posted by freemkt
When you were born has something to do with the economic environment in which you live. Early baby boomers had first shot at good jobs and promotions, while late baby boomers went through life with a glut of early boomers ahead of them.
People who are born into small generations - perhaps a baby bust - will have less competition for jobs and for houses, and therefore will have more opportunities.
I don't see that, it's a matter of motivation, willingness to work hard for success. There were 9 of us kids, born from 1951-1969. Of those, I am the only one that went to graduate school, only one other has a degree, another went to community college but didn't finish. I am now a manager and will have a pension, as will my sister who also got a degree (at age 40). Of the rest, two are basically just barely surviving financially with a variety of part time work and little assets, no savings or pensions for retirement. The other 5 are in between, have decent jobs but in high cost areas are living paycheck to paycheck, and will have only what they have managed to put into 401Ks. Only 3 of us own homes. Those of us doing the best were born in 1952, 1954, and 1969.
I don't see that, it's a matter of motivation, willingness to work hard for success. There were 9 of us kids, born from 1951-1969. Of those, I am the only one that went to graduate school, only one other has a degree, another went to community college but didn't finish. I am now a manager and will have a pension, as will my sister who also got a degree (at age 40). Of the rest, two are basically just barely surviving financially with a variety of part time work and little assets, no savings or pensions for retirement. The other 5 are in between, have decent jobs but in high cost areas are living paycheck to paycheck, and will have only what they have managed to put into 401Ks. Only 3 of us own homes. Those of us doing the best were born in 1952, 1954, and 1969.
I think more is in an individual's direct control than is not, but graduating from college into massive recessions, that type of thing, can retard progress among large groups of people. It may not be the biggest factor, but it is a factor.
Part of my significant other's financial issues involve his ex-wives. He has been married four times and three of those times he had to pay alimony and/or child support. At one time, he owned a house along with his fourth ex-wife and she let us rent the house and said she would put our rent toward the mortgage...which she did not and she let the house go into foreclosure. So we had no legal recourse. Me and my SO had to move out and my SO had to declare bankruptcy. We make about $45,000 a year and live in an apartment (albeit a very nice one). But...yeah...he has made some very poor choices with women before which has prevented him from living HIS version of The American Dream and he really regrets it.
Nice try, but a massive fail. You and I were born at almost exactly the same time. I have succeeded, you have failed. In spite of you having a college degree and being a man.
Same here. I was born at the beginning of this generation but most of my friends were born towards the end and are very successful in life.
I don't think it makes a difference as to when on the generation scale someone was born. Giving that as a reason is just an excuse for someone's personal failures.
Part of my significant other's financial issues involve his ex-wives. He has been married four times and three of those times he had to pay alimony and/or child support. At one time, he owned a house along with his fourth ex-wife and she let us rent the house and said she would put our rent toward the mortgage...which she did not and she let the house go into foreclosure. So we had no legal recourse. Me and my SO had to move out and my SO had to declare bankruptcy. We make about $45,000 a year and live in an apartment (albeit a very nice one). But...yeah...he has made some very poor choices with women before which has prevented him from living HIS version of The American Dream and he really regrets it.
If both of you together make only $45,000 a year, a large part of these issues are an income problem.
The ex-wives are a problem but it would have been more tolerable if there was more income between the two of you.
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