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1
Posted on 3/22/25 at 8:52 pm to DavidTheGnome
quote:
That doesn’t account for the discrepancy in wealth between the generations at the same age which is what the chart shows
A super secret boomer cabal is not keeping you from accumulating wealth so only they can hoard it all, Dave.
Posted on 3/22/25 at 8:53 pm to BigPerm30
quote:
Most entitled generation that claims to have nothing has the most…
They are entitled because they worked for it?
I think people complaining about other generations are a bunch of pussies. All of this "they had it better than we have it" is horse shite. Times change. Its a completely different world today than what the baby boom generation grew up in. Each generation looks at the world based on what it was like when they were younger. This is just one more thing that people let bother them that they can't do anything about.
Posted on 3/22/25 at 9:02 pm to Y.A. Tittle
quote:
A super secret boomer cabal is not keeping you from accumulating wealth so only they can hoard it all, Dave.
Hyuck
There is something more to the story besides simply "hard work" that explains the significant wealth gap at the same age between boomers and the other generations. I don’t know what it is (likely several factors) but I’m not naive enough to actually believe they just worked harder.
Posted on 3/22/25 at 9:07 pm to DavidTheGnome
quote:
There is something more to the story besides simply "hard work" that explains the significant wealth gap at the same age between boomers and the other generations.
Neither I nor the other poster you responded to made that argument, you realize.
Posted on 3/22/25 at 9:09 pm to armytiger96
quote:
Ummm I think this part does:
quote:
For the most part GenX and below spends way more than they save so obviously they have accumulated less wealth.
And why is that, they’re just bad with money? Or the more likely answer that housing is so much more expensive compared to when Boomers were that age. Yeah I’m sure they don’t save as much when the cost of a roof over their heads is three times as much as when Boomers were their age, not to mention completely priced out of even a starter home. And that’s not even considering the cost of vehicles now compared to then even adjusting for inflation, or childcare, healthcare, etc.
Posted on 3/22/25 at 9:25 pm to Oilfieldbiology
quote:
And finally, Gates, Allen, and Jobs skew the graph for boomers.
Are they boomers?
Yes. It's one of the reasons why boomers laugh at millennial when they make fun of boomers for not being tech savvy. It's the Silent Generation that has issues with tech.
Posted on 3/22/25 at 9:46 pm to RaoulDuke504
Does this graph factor in the fact that the boomers are a disproportionately large cohort (hence their name) so they would naturally have a disproportionately larger share of the nation’s wealth when compared to smaller cohorts?
Posted on 3/22/25 at 9:52 pm to Joshjrn
quote:
Though I imagine "interesting" will become "tragic" if large institutional investors step in.
Well this is and has been happening for quite awhile.
Posted on 3/22/25 at 9:54 pm to RaoulDuke504
Put a twinkle filter on that graph and put some Kendrick Lamar behind it and you'd be a TikTok sensation
Posted on 3/22/25 at 10:01 pm to RaoulDuke504
Boomers came of age in a post war economy. Major manufacturing was decimated by WWII and the factories in America were unrivaled around the world.
Land was cheap. Houses were cheap. A man with a high school education working a union job could make a nice life for his family.
Times change.
The rest of the world caught up. Global commerce and competition for labor and capital became a thing.
Gen X (that includes me) faced a world that was changing...more layoffs, fewer pensions, etc. But the economy roared because of things like the internet so we're making out OK.
I worry about my kids, particularly my youngest and their ability to purchase a house.
I do think we are getting progressively squeezed more and more as time goes on. So some of this "generational" anger/griping is understandable. Yes, some rise above it.
I do think Boomers were born in a sweet spot. They still had to make something of it.
Land was cheap. Houses were cheap. A man with a high school education working a union job could make a nice life for his family.
Times change.
The rest of the world caught up. Global commerce and competition for labor and capital became a thing.
Gen X (that includes me) faced a world that was changing...more layoffs, fewer pensions, etc. But the economy roared because of things like the internet so we're making out OK.
I worry about my kids, particularly my youngest and their ability to purchase a house.
I do think we are getting progressively squeezed more and more as time goes on. So some of this "generational" anger/griping is understandable. Yes, some rise above it.
I do think Boomers were born in a sweet spot. They still had to make something of it.
Posted on 3/22/25 at 10:03 pm to MusclesofBrussels
Not a boomer, but sorry you have failed in life and find the need to blame an entire generation for your sad life.
Posted on 3/22/25 at 10:10 pm to DavidTheGnome
quote:
And why is that, they’re just bad with money? Or the more likely answer that housing is so much more expensive compared to when Boomers were that age. Yeah I’m sure they don’t save as much when the cost of a roof over their heads is three times as much as when Boomers were their age, not to mention completely priced out of even a starter home. And that’s not even considering the cost of vehicles now compared to then even adjusting for inflation, or childcare, healthcare, etc.
You're absolutely right it's the system and not individual choices. It has nothing to do with the fact that Boomers idea of a nice house was a 1800 sf house in Shenandoah. Most GenXers I know are living in houses 2 to 3 times the size of that and with much greater amenities. GenZers would scoff at the idea of a new house that size and come to this board complaining about life not being fair.
Boomers considered going to Biloxi or Houston for the weekend a great honeymoon. For GenXers Hawaii was the norm. For Millennials and Gen Zers it's Europe or bust. For Boomers a bachelor party was night out on the town that ended at the local strip club. For Gen X it was going to Biloxi for golf, casinos, and strippers. For Millennials its Vegas or bust!
As kids most GenXers considered going to Disney a once in a lifetime vacation. A typical vacation was going to watch the Astros and Astroworld for the weekend or maybe a road trip to a National Park where you camped in a tent not rent a massive house/cabin. As parents GenXers are taking their kids to Disney or skiing every Mardi Gras AND a week long stay at Seaside or some other 30a resort during the summer.
This doesn't include the cost of "travel ball", competition cheer/dance, or going out to eat several nights a week or at nice restaurants.
The lifestyles that GenX lives is exponentially greater than the lifestyles we were raised with. This accounts for the biggest reason GenX isn't accumulating wealth compared to baby boomers.
This post was edited on 3/22/25 at 10:12 pm
Posted on 3/22/25 at 10:10 pm to jizzle6609
quote:
A lot of folks will be inheriting money. That’s a good thing.
I’ve given my children what I hope is a good inheritance that started when they were born.
As good of an education as I could afford, clothes on their backs, food in their bellies, and a warm comfortable home with a good roof.
In addition I’ve tried to give them love, faith and a good moral compass with which to live in what can be a somewhat scary world.
I’m proud of them as I can see as they get older that some of what my wife and I tried to teach them seems to be paying off. Level headedness, tolerance, empathy, compassion for their fellow man and the ability to laugh at themselves and laugh hard. I value a good sense of humor as much as the other above.
So my point being-I’ve given my children their inheritance during their younger years so they could enjoy rather than sit around waiting for us to die to inherit.
Of course anything left when we are gone they will have as lagniappe as they are on their way to success.
So I’m flying first class from here on out because if I don’t they will.
Posted on 3/22/25 at 10:12 pm to N2cars
quote:
Sharp people, with a great work ethic, always win
I know very few boomers who fit this description.
Posted on 3/22/25 at 10:13 pm to Pax Regis
quote:
I know very few boomers who fit this description.
Then you don’t get out much. Playing X box doesn’t count as work.
Posted on 3/22/25 at 10:24 pm to armytiger96
quote:
It has nothing to do with the fact that Boomers idea of a nice house was a 1800 sf house in Shenandoah. Most GenXers I know are living in houses 2 to 3 times the size of that and with much greater amenities. GenZers would scoff at the idea of a new house that size and come to this board complaining about life not being fair.
Boomers considered going to Biloxi or Houston for the weekend a great honeymoon. For GenXers Hawaii was the norm. For Millennials and Gen Zers it's Europe or bust. For Boomers a bachelor party was night out on the town that ended at the local strip club. For Gen X it was going to Biloxi for golf, casinos, and strippers. For Millennials its Vegas or bust!
As kids most GenXers considered going to Disney a once in a lifetime vacation. A typical vacation was going to watch the Astros and Astroworld for the weekend or maybe a road trip to a National Park where you camped in a tent not rent a massive house/cabin. As parents GenXers are taking their kids to Disney or skiing every Mardi Gras AND a week long stay at Seaside or some other 30a resort during the summer.
This doesn't include the cost of "travel ball", competition cheer/dance, or going out to eat several nights a week or at nice restaurants.
The lifestyles that GenX lives is exponentially greater than the lifestyles we were raised with. This accounts for the biggest reason GenX isn't accumulating wealth compared to baby boomers.
A lot of truth here.
Posted on 3/22/25 at 11:46 pm to Artificial Ignorance
You really picked those 13 years…and provided no context. Wonder what happened early 2000s and 2008+?
C’mon, man.
What is your point.. those years were pretty painful …
C’mon, man.
What is your point.. those years were pretty painful …
Posted on 3/22/25 at 11:56 pm to Columbus
Here’s the bullshite post claiming all the younger ones want handouts. What we want and won’t get is the same financial opportunity you had.
Posted on 3/23/25 at 12:18 am to IndianMoundFireworks
Curious as to what exactly that is ?
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