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Posted on 2/20/24 at 2:14 pm to Sam Quint
quote:
your parents started way fewer threads
And way better.
Posted on 2/20/24 at 3:16 pm to fareplay
quote:
Are you better off than your parents? Is your kids likely to be better off than you?
This is such a tricky question because the majority of people are dealing with dual income versus the boomer generation of single household earners.
I know this, the boomer generation is far better with money than any generation after it. I am not talking investing, but the art of self-control and not living above their means. They are more disciplined.
This post was edited on 2/20/24 at 3:17 pm
Posted on 2/20/24 at 3:21 pm to fareplay
Yes and yes
Posted on 2/20/24 at 4:05 pm to fareplay
>am i better off than my parents?
hard no. home ownership is out of my reach, immigration is taking domestic jobs (not just illegals but also H1Bs), taxation is climbing, inflation is leaps and bounds worse now than in the 90s when my parents were my age, wages have stagnated while prices have increased exponentially.
just all around worse economic conditions that either rival or exceed that of the great depression despite what the Feds say
hard no. home ownership is out of my reach, immigration is taking domestic jobs (not just illegals but also H1Bs), taxation is climbing, inflation is leaps and bounds worse now than in the 90s when my parents were my age, wages have stagnated while prices have increased exponentially.
just all around worse economic conditions that either rival or exceed that of the great depression despite what the Feds say
Posted on 2/20/24 at 4:13 pm to MSTiger33
quote:
My kids will inherit a good bit if I make it to my late 70s/early 80s
Because you will keep working until you die or because you won't spend it all if you don't make it to 100?
Posted on 2/20/24 at 6:41 pm to fareplay
Heck yeah. I was reared in poverty, in a cotton patch in North La. My parents had no marketable skills. There was no industry between Natchez, Ms. and Monroe, La. They knew how to survive by growing the food we required.
Two pairs of blue jeans, one pair of shoes. I went barefooted from April to October, as a child.
Used the GI Bill and my wife working to get my degree.
I retired at age 56. Leaving my boys, educated (no student debt) They will inherit more than I spent in the first 50 years of my life.
Two pairs of blue jeans, one pair of shoes. I went barefooted from April to October, as a child.
Used the GI Bill and my wife working to get my degree.
I retired at age 56. Leaving my boys, educated (no student debt) They will inherit more than I spent in the first 50 years of my life.
Posted on 2/20/24 at 6:47 pm to fareplay
quote:
Are you better off than your parents?
Not yet, currently. Probably pretty comparable to when they were my age though.
quote:
Is your kids likely to be better off than you?
Probably more of the same, although, I hope they are. I imagine they'll be somewhere in the same socio-economic class as we are now when they're 38.
Posted on 2/20/24 at 7:00 pm to GreenRockTiger
quote:
Plus, we know our grammar. Helps you get ahead in life.
Never worked offshore huh? These boys can't spell and they still cashing checks.
Posted on 2/20/24 at 7:07 pm to fareplay
Yes and yes, no, no.
Posted on 2/20/24 at 7:08 pm to fareplay
quote:Are you trying to show off that fine Texas A&M education again??
Is your kids
Posted on 2/20/24 at 7:13 pm to daydranking
quote:
hard no. home ownership is out of my reach, immigration is taking domestic jobs (not just illegals but also H1Bs), taxation is climbing, inflation is leaps and bounds worse now than in the 90s when my parents were my age, wages have stagnated while prices have increased exponentially.
How old are you?
Posted on 2/20/24 at 7:14 pm to fareplay
Probably about the same adjusting for us having multiple incomes.
Posted on 2/22/24 at 4:57 pm to DCtiger1
late 20s
Posted on 2/22/24 at 4:59 pm to fareplay
Yes, no.
Posted on 2/22/24 at 5:13 pm to jizzle6609
quote:
I know this, the boomer generation is far better with money than any generation after it. I am not talking investing, but the art of self-control and not living above their means. They are more disciplined.
Median Boomer has 200k in retirement savings, far less than they’ll need. They will hand over a broken govt budget, which was mostly done to support demands they had from govt that they weren’t willing to pay for via taxes. They sold their progeny’s future earnings for their current comfort.
Posted on 2/22/24 at 5:34 pm to fareplay
It depends on how you view things
I am much more successful economically than my parents, but my parents had many more friends and admirers, the result of being local and staying local their entire lives. To me, their wealth of friendships far surpasses anything I've accrued by working corporate and moving multiple times around the country.
My daughter, right now, at 22, is more wealthy than I was at age 30 and earning more than I was up until age of 40. I didn't really hit my stride until age 45 and I changed my career multiple times. Started off in construction. Now I'm selling space telescopes for small satellites that are so good you could count the number of pepperoni on a pizza from space.
But I never had a vision. I just sort of fell into it over time. Lots of bad choices and failures led me to where I am today,and now that I'm where I am, all I can think about is how anxious I am to retire and stop. Technology moves fast and I just don't want to chase after it anymore. It's soulless work. Interesting, but man I hate the people in corporate life now with all the caution you have to take. Can't even tell a fricking joke, anymore.
I am much more successful economically than my parents, but my parents had many more friends and admirers, the result of being local and staying local their entire lives. To me, their wealth of friendships far surpasses anything I've accrued by working corporate and moving multiple times around the country.
My daughter, right now, at 22, is more wealthy than I was at age 30 and earning more than I was up until age of 40. I didn't really hit my stride until age 45 and I changed my career multiple times. Started off in construction. Now I'm selling space telescopes for small satellites that are so good you could count the number of pepperoni on a pizza from space.
But I never had a vision. I just sort of fell into it over time. Lots of bad choices and failures led me to where I am today,and now that I'm where I am, all I can think about is how anxious I am to retire and stop. Technology moves fast and I just don't want to chase after it anymore. It's soulless work. Interesting, but man I hate the people in corporate life now with all the caution you have to take. Can't even tell a fricking joke, anymore.
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