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Old 11-08-2016, 01:38 AM
 
Location: Los Angeles
3,545 posts, read 2,237,412 times
Reputation: 10612

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I'm 64 and to me the American Dream means doing what you want and having what you want. It doesn't matter what others think about it.
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Old 11-08-2016, 04:06 AM
 
50 posts, read 38,894 times
Reputation: 146
I'm a 'cusper', my husband is a 'boomer'. We've been married 32 years.
He's always been a saver and I've always been a spender, though never in debt for it.
I've discovered our priorities have changed as we've gotten older. I don't care so much for dining out, what kind of car I drive (give me air-conditioning and a radio, I'm good), or even that our home is a 60 year old farmhouse.
Goal now is to be able to purchase a fun semi-retirement business in the next couple of years and he can early-retire from a job that's had him working swing-shift (days and nights) for the past 20 years, and I'm leaving the mess the healthcare profession has become.
Key is to live within in your means. That's true happiness and the realization of the American Dream, my opinion. There is no dream in trying to keep up with the Jones - only a nightmare of debt and being a slave to mortgages and payments.
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Old 11-08-2016, 04:38 AM
 
4,346 posts, read 6,061,197 times
Reputation: 10443
Two boomers here. No boat cause we don't want one. Two paid for homes and two paid for cars. We sleep good. Is it the attainment of a dream? No, it's just how life went, a succession of luck and work and more luck. The American Dream would be for everyone to be raised up from poverty and living in peace with each other.
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Old 11-08-2016, 04:45 AM
 
Location: Central Maine
4,687 posts, read 5,539,153 times
Reputation: 4966
Baby Boomers! Is your idea of The American Dream the traditional "two cars, boat or RV, house that is paid off, etc"?

1. Two cars when my wife and I could afford to do so - in northern Virginia, with our commute into DC every day, transportation was a big concern. Now, retired and in Maine, two cars (including our 10-year-old Prius) is more optional, but convenient.

2. We have a house on a lake, so yes - for the first time - we have a boat ... a small Puffin dinghy with a 2.5 HP motor. We're not talking excessive luxury here.

3. After my wife and I retired, we talked - briefly - about getting an RV and spending a year or two exploring the country. Didn't happen. That's OK.

4. "Bought" our first house - a townhouse - in 1986. Sold it, and bought a large single-family detached house in 1992. Sold it, and bought a smaller house on a lake in Maine two years ago. So I've been paying on one mortgage or another for 30 years. And that's OK, too.

We've never been what I would call wealthy, but we're doing okay.

To me, the American Dream is living where you want, working at something you like and that pays a decent wage, being able to plan for and achieve a reasonably comfortable retirement, and seeing your kids grow up to be happy and independent.
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Old 11-08-2016, 06:23 AM
 
15,736 posts, read 9,257,235 times
Reputation: 14227
Quote:
Originally Posted by freemkt View Post
(1) lower income = many lower income people pay a high proportion of their income on shelter, which makes it difficult to accumulate an adequate down payment to buy a home.

(2) lower income = many lower income people do not have income sufficient to qualify for a mortgage payment they can afford (i.e. their income does not meet lenders' required ratios).

(3) many lower income people have impaired credit which disqualifies them from mortgage financing.
1. Income problem.

2. Income problem meets house that is too expensive for their income.

3. Income problem meets living beyond their means.
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Old 11-08-2016, 06:52 AM
 
Location: Forests of Maine
30,687 posts, read 49,469,539 times
Reputation: 19134
Quote:
Originally Posted by freemkt View Post
...
You certainly have a lot of excuses.



Quote:
... (1) lower income = many lower income people pay a high proportion of their income on shelter, which makes it difficult to accumulate an adequate down payment to buy a home.
You have to learn to save money when you have a little if you hope to ever be saving money when you have more.



Quote:
... (2) lower income = many lower income people do not have income sufficient to qualify for a mortgage payment they can afford (i.e. their income does not meet lenders' required ratios).
Only if you focus on high priced housing.



Quote:
... (3) many lower income people have impaired credit which disqualifies them from mortgage financing.
Whose fault is this?

Did some mysterious third party come along and wreck their credit rating?

The Recession of '08/'09 caused me to file bankruptcy. But I still came away with good credit. Today after I finish tending livestock, we have to go into town and do more work cleaning up debris at this apartment building we just bought last Friday. You can do a lot on a Minimum-Wage income [if you want to].


Keep up your excuses, maybe some day you might convince someone.
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Old 11-08-2016, 06:57 AM
 
Location: Tennessee
23,592 posts, read 17,589,896 times
Reputation: 27682
Quote:
Originally Posted by sheena12 View Post
I think you are stereotyping baby boomers. We are a large generation spanning three decades, and we all do not think and act alike.

I was born in the late 50s. I have friends who insisted on an urban life, lived in NYC, had a series of Volvos and to second home. They traveled, but to unusual places. They have cats, not kids.

We have other friends who settled down in suburbia. They were born in the early 60s, had four children and are grandparents. They don't have a boat or a motor home. But, my friend's husband has a motorcycle.

Some people of my HUGE generation want to replicate the childhoods that they had in the suburbs. Others don't. It has nothing to do with being a baby boomer. I am sure that if you looked at "Generation X" you would see differences in your own generation.

Your significant other wants things that you do not. I am not sure what part his "generation plays in this.
Agreed.

A few years ago, some Boomer ladies who lived in NYC/Boston contacted some of my family on Facebook, explaining they were cousins of ours by a great aunt of mine who left Virginia in the 50s and wasn't heard from again. The great aunt is long since dead, so these women are all that's left on that side of the family.

Virtually all of that side of my immediate family live in east TN, southwest VA, and some live in Richmond, VA. Other than a stint in Florida in the 60s/70s, none of the family have lived outside this region for long, much less anywhere else.

There are many key differences with them, but the ladies from NYC and at least my thee uncles are all close in age - two aunts are Xers.

1) The women from NYC are biracial. None of my immediate family are.
2) Both live in condos/townhomes. At least one rents. All of my aunts/uncles live in a SFH, with only one renting and the rest owning.
3) The one who lives in NYC does not have a car or know how to drive. They came down a few summers ago and the one in Boston drove the one from NYC. All of my family have cars and know how to drive.
4) One has never married, one is divorced. All of my aunts and uncles have been married at some point, with two currently being divorced, and three having never divorced.
5) Neither one of these women have children. All of my aunts and uncles do.
6) At least the one in NYC is a hardcore Democrat - only my parents and grandparents are Democrats in the family, the rest of my aunts, uncles, including myself, are Republicans.

The one who lives in NYC is big into pop culture/TV and is always posting pictures on Facebook of herself with various celebrities. None of my family would care anything about that.

Sure, they're of the same generation, but culturally it's two vastly different lifestyles.
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Old 11-08-2016, 08:44 AM
 
13,923 posts, read 7,422,661 times
Reputation: 25432
"I am Elmer J. Fudd, millionaire. I own a mansion and a yacht."
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Old 11-08-2016, 09:10 AM
 
2,443 posts, read 2,073,760 times
Reputation: 5690
Quote:
Originally Posted by GeoffD View Post
"I am Elmer J. Fudd, millionaire. I own a mansion and a yacht."
Is that all? I own 2 mansions and 2 yachts. I heat my mansions with bundles of money I throw in a heating stove.
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Old 11-08-2016, 09:22 AM
 
Location: colorado springs, CO
4,966 posts, read 2,290,118 times
Reputation: 16671
Quote:
Originally Posted by janedoe1972 View Post
coschristi...Your situation almost mirrors mine to the T. Why I stay? Because he is a great father to our son. If we were to separate, it would devastate our son.
Me too!

Our son is 12 years old & disabled. Not only would it be emotionally devestating but financially as well.

That is a huge sense of frustration to me. I left a career where I made more $$ than him to become the primary caregiver for our son. This was not a decision entered into lightly; we actually tried it with him as "Mr. Mom" for about 3 months & it was a complete flop.

If you think he sounds depressed now ... you should have seen him then. Awful.

But this is why it's so agonizing to me for him to act like this. "Good G-d; man! Quit shooting yourself in the foot & "get 'er done!"

I'd love to role reverse again & remind him of how it's done but my son would suffer greatly.

So I'm stuck ... with Eeyore.

You know; the gloomy little donkey from Winnie The Pooh; that walks around with his own little raincloud going "OOHH; BOTHER ...!"
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