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Message
2
Posted on 6/6/18 at 11:12 am to weagle99
I've increasingly seen over the years since my parents have retired and my wife's parents are nearing retirement that people don't want to take advice from their kids. I tell my mom its the diaper dilemma. She changed my diaper so who am I to tell give them advice.
Case in point. My parents built a house after retirement. While they sold their other house, they took out of a 401k to pay for the new house (to avoid debt). Despite me and both of my brothers pleading to them to take out a temporary mortgage and pay it off when they sold their new house, they didn't. Then they were hit with a tax bill that cost them 10x what the interest on that construction loan would have been.
My in laws are unique in which they have a child still in high school. He's 20 years younger than my wife. They are making some huge mistakes with their finances that will cost them in the long run. They have about $50k in a 401k and are counting on social security. Their spending was close to $130k last year.
Case in point. My parents built a house after retirement. While they sold their other house, they took out of a 401k to pay for the new house (to avoid debt). Despite me and both of my brothers pleading to them to take out a temporary mortgage and pay it off when they sold their new house, they didn't. Then they were hit with a tax bill that cost them 10x what the interest on that construction loan would have been.
My in laws are unique in which they have a child still in high school. He's 20 years younger than my wife. They are making some huge mistakes with their finances that will cost them in the long run. They have about $50k in a 401k and are counting on social security. Their spending was close to $130k last year.
Posted on 6/6/18 at 11:12 am to upgrayedd
I've already told my parents they could stay with me. I just hope they don't bitch about the gaming devices in the living room. I may just have to get them a television for the other bedroom.
Posted on 6/6/18 at 11:13 am to Soy Boi
I remember when old people died on a farm working until there bodies failed them. These so called boomers just want to books on their kindle and Play slow rounds of golf
Posted on 6/6/18 at 11:13 am to TDcline
To be fair to them, it was a small part of the generation that did it, just like it's a small part of the current generation that's fricking up things worse. IE: Facebook, NSA, etc. And our generations keep voting corrupt people in. Not as much as the older population, but they're still voting for corruption all the same.
Posted on 6/6/18 at 11:14 am to anc
quote:
My in laws are unique in which they have a child still in high school. He's 20 years younger than my wife. They are making some huge mistakes with their finances that will cost them in the long run. They have about $50k in a 401k and are counting on social security. Their spending was close to $130k last year.
That's not making a mistake. That is being fricking stupid.
Posted on 6/6/18 at 11:14 am to weagle99
I don't think GenX and Millenials are going to fare much better. The Greatest Generation and Silent Generation worked through an era where pensions were common and houses were cheap due to Post WWII suburban expansion (later known as white flight).
Posted on 6/6/18 at 11:14 am to AUCE05
All of a sudden socialism isn't as bad as it used to be.
Posted on 6/6/18 at 11:14 am to Soy Boi
Luckily that Nintendo switch I bought you after your wife made you get a vasectomy is so portable
Posted on 6/6/18 at 11:15 am to TDcline
College tuition is up because your shite generation defaults on the loans, feels entitled to air conditioned dorms and fancy technology.
Posted on 6/6/18 at 11:15 am to TDcline
You forgot they also made Facebook lame
Posted on 6/6/18 at 11:15 am to weagle99
I'm leaving my kids better off than I was. Retired at 63 yo.
Posted on 6/6/18 at 11:16 am to anc
quote:
They have about $50k in a 401k and are counting on social security. Their spending was close to $130k last year.
ouch..hope you have a spare room ready.
Posted on 6/6/18 at 11:16 am to Sao
We have our first boomer folks. He would’ve posted quicker but the 80 toolbars he accidentally downloaded slows his browser down
Posted on 6/6/18 at 11:17 am to TDcline
quote:
BIGGEST. PIECE. OF. shite. GENERATION. EVER.
As a member of GenX, a generation who never had a chance in hell of being successful due to our parents' generation, you are correct. frick the goddamned Boomers. They will be looked back upon as the most damaging, selfish, irresponsible, and reprehensible generation this country has ever seen.
And before any Boomer gets their Depends in a bunch over my comments, yes, I understand that not every Boomer is the same. Unfortunately, the vast majority of your Boomer generation either encouraged this behavior or sat back and let it happen.
Posted on 6/6/18 at 11:18 am to EarlyCuyler3
quote:
All of a sudden socialism isn't as bad as it used to be.
No, still awful.
Posted on 6/6/18 at 11:18 am to mmmmmbeeer
quote:
never had a chance in hell of being successful due to our parents' generation,
Posted on 6/6/18 at 11:19 am to weagle99
As of today, I have 130 days until I am 59 1/2.
Bye Suckers.
Bye Suckers.
Posted on 6/6/18 at 11:19 am to 777Tiger
Unreal. Kids today...
Posted on 6/6/18 at 11:19 am to bawbarn
quote:
No, still awful.
Not according to the boomers who are going to be living off of their kids. Hell, it's worse than socialism. With socialism at least you know you're getting fricked ahead of time.
This post was edited on 6/6/18 at 11:21 am
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