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Started By
Message
let's ease up on boomers and millennials, Gen X sucks with money too
Posted on 12/30/17 at 10:40 am
Posted on 12/30/17 at 10:40 am
Study: Gen Xers’ debt level ranking highest
the average american adult is a disaster. sad!
quote:
What is striking to us is that rather than getting better, it’s gotten worse for Gen Xers,” said Paul Kelash, vice president of consumer insights at Allianz Life.
“When you look at the improving stock market, the stronger economy, low interest rates and the stronger housing market, we would have thought that their financial situation would have been better than what we saw the last time we studied this group in 2014,” he said.
quote:
Total non-mortgage debt — credit card and student loan — has increased 15 percent for Gen X since 2014 from an average $20,000 in 2014 to $23,000 in 2017. And more Gen Xers admit to paying off only a partial amount of their credit card debt each month, up from 46 percent in 2014 to 49 percent in 2017.
quote:
More than four in 10, or 42 percent, also believe that going into debt to handle day-to-day purchases is “just a fact of life.”
quote:
The study showed that the single most indebted birth cohort in the nation at that time were 44-year-olds, who owed on average $142,077 — most of which was mortgage debt. Gen X also is more in debt than previous generations when they were the same age. The average household debt of baby boomers was $88,553, adjusted for inflation, when they would have been age 44.
the average american adult is a disaster. sad!
Posted on 12/30/17 at 10:41 am to GreatLakesTiger24
It’s because we’re getting financially double penetrated in our cornholes by the boomers and the millennials.
This post was edited on 12/30/17 at 10:44 am
Posted on 12/30/17 at 10:42 am to theunknownknight
dp
This post was edited on 12/30/17 at 10:43 am
Posted on 12/30/17 at 10:43 am to GreatLakesTiger24
quote:
the average american adult is a disaster. sad
That's a good summary across the board.
The generation blame game is getting old
Posted on 12/30/17 at 10:43 am to GreatLakesTiger24
Look at the interest rate on those two debts. It will then be clear that mortgage debt today is usually “good debt”.
Posted on 12/30/17 at 10:44 am to GreatLakesTiger24
You are a one trick pony with a very lame trick.
Lame.
Lame.
Posted on 12/30/17 at 10:47 am to GreatLakesTiger24
The 40's year olds in this Country are the sole blame for the Millennials, they raised these dumb fricks. Or rather, didn't raise them, they just shoved a phone, xbox, and computer in front to raise them.
Posted on 12/30/17 at 10:47 am to GreatLakesTiger24
Guilty. I have a house in student loan debt for my 2 grad degrees. But it's our only debt besides mortgage and 1 car. And the retirement is in fine shape for 39 years old.
And the most novel part? I have no problem or objection to paying it back. I borrowed it. It's my responsibility to pay it back. Not whine and beg for "forgiveness".
And the most novel part? I have no problem or objection to paying it back. I borrowed it. It's my responsibility to pay it back. Not whine and beg for "forgiveness".
Posted on 12/30/17 at 10:48 am to GreatLakesTiger24
I don’t see a big issue with carrying the mortgage debt but have a hard time understanding why Gen X’ers are still dealing with student loan debt.
Posted on 12/30/17 at 10:48 am to GreatLakesTiger24
Let’s go ahead and throw the “greatest generation” under the bus too.
After all, they spoiled their boomer kids and started the cycle.
After all, they spoiled their boomer kids and started the cycle.
Posted on 12/30/17 at 10:48 am to GreatLakesTiger24
$23K in non-mortgage debt at 40 Year’s old?! Jesus H, how does that happen?
Posted on 12/30/17 at 10:50 am to GreatLakesTiger24
Gen xers are basically baby boomers with shitty tattoos
Posted on 12/30/17 at 10:51 am to CoachChappy
quote:destin and disney vacations on AMEX
$23K in non-mortgage debt at 40 Year’s old?! Jesus H, how does that happen?
Posted on 12/30/17 at 10:51 am to CoachChappy
quote:
$23K in non-mortgage debt at 40 Year’s old?! Jesus H, how does that happen?
They buy $70k vehicles they can't afford with no money down.
Posted on 12/30/17 at 10:53 am to GreatLakesTiger24
So the avg person regardless of age is stupid and worthless?
Good thing this is the ot where we are all mathematicians, scholars, and elitists.
Good thing this is the ot where we are all mathematicians, scholars, and elitists.
Posted on 12/30/17 at 10:54 am to CoachChappy
quote:
$23K in non-mortgage debt at 40 Year’s old?! Jesus H, how does that happen?
Is this a serious question?
Posted on 12/30/17 at 10:55 am to SeeeeK
quote:
The 40's year olds in this Country are the sole blame for the Millennials, they raised these dumb fricks. Or rather, didn't raise them, they just shoved a phone, xbox, and computer in front to raise them
Millennials range from 1980-2000. You'll see slight variations but this is the most common range I see. A lot of millennials were raised by boomers. My brother is a millennial and my dad is almost 70.
Posted on 12/30/17 at 10:56 am to GreatLakesTiger24
quote:
most of which was mortgage debt
Not terrible
Posted on 12/30/17 at 11:01 am to GreatLakesTiger24
quote:
The study showed that the single most indebted birth cohort in the nation at that time were 44-year-olds, who owed on average $142,077 — most of which was mortgage debt. Gen X also is more in debt than previous generations when they were the same age. The average household debt of baby boomers was $88,553, adjusted for inflation, when they would have been age 44.
Almost like there was an inflated housing market when current 44 year olds were buying their homes.
Posted on 12/30/17 at 11:01 am to GreatLakesTiger24
Gen X was duped by society too
Any generation raised before the internet were pawns in a game
Buy house you can't afford to impress your friends
Get married
Live your entire life paying down your debts
Any generation raised before the internet were pawns in a game
Buy house you can't afford to impress your friends
Get married
Live your entire life paying down your debts
This post was edited on 12/30/17 at 11:07 am
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