U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 11-10-2016, 12:28 AM
 
6,353 posts, read 5,163,159 times
Reputation: 8527

Advertisements

Quote:
Originally Posted by craigiri View Post
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?
Reply With Quote Quick reply to this message

 
Old 11-10-2016, 12:52 AM
 
Location: RVA
2,167 posts, read 1,267,777 times
Reputation: 4465
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..
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 01:44 AM
 
33,046 posts, read 22,067,502 times
Reputation: 8970
Quote:
Originally Posted by Larry Siegel View Post
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 01:54 AM
 
33,046 posts, read 22,067,502 times
Reputation: 8970
Quote:
Originally Posted by Perryinva View Post
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 06:38 AM
 
15,736 posts, read 9,255,327 times
Reputation: 14227
Quote:
Originally Posted by freemkt View Post
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 07:18 AM
 
Location: East of Seattle since 1992, originally from SF Bay Area
29,815 posts, read 54,486,657 times
Reputation: 31124
Quote:
Originally Posted by freemkt View Post
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 08:34 AM
 
Location: Tennessee
23,592 posts, read 17,582,380 times
Reputation: 27682
Quote:
Originally Posted by Hemlock140 View Post
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 08:54 AM
 
106 posts, read 89,919 times
Reputation: 247
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 12:45 PM
 
Location: Lakewood OH
21,697 posts, read 23,672,920 times
Reputation: 35449
Quote:
Originally Posted by ringwise View Post
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.
Reply With Quote Quick reply to this message
 
Old 11-10-2016, 12:45 PM
 
Location: Tennessee
23,592 posts, read 17,582,380 times
Reputation: 27682
Quote:
Originally Posted by janedoe1972 View Post
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.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top