That’s a stunning reversal for millions of households during a 12-year period that included economic growth and huge stock gains following the end of the Great Recession.
Wow, it’s almost as if most people don’t get any gains from the stock market booming… /s
For most people a strong stock market only mean, in best case, that they don’t lose their jobs. It doesn’t have any real positive effect on their wages. When it goes well for companies we’re told to not ask for too high salary due to inflation. In hard times were told not to ask for too much to save our jobs.
The only time we get an increase in salaries is when there’s either a lack of skilled workers or when we create an artificial lack of skilled workers through unions and strikes.
I’m young genx, I hope we’re not that stupid, we should have learned something what with Boomers trying to scam us literally every fucking day of our lives.
But if they haven’t, whoops, another point to Darwin.
What gets me riled up is I work w/ a bunch of GenX and some don’t even contribute to the 401k that is matched 6% (aka FREE MONEY). I just don’t get it, my leave money on the table. Go low risk if your not sure…
Boomers legitimately never imagined they would get old, in their minds they’re all like Trump, stuck in their flush of youth, they are Al Bundy still celebrating his 4 touchdowns in one game on permanent loop.
And sadly, while they abused the fuck out of us, some of us caught that same disease.
Okey, so now we’re back in the hypothetical. So you’re saying that even if you were living paycheck to paycheck and and had to choose between saving and giving your kids food at the end of the month you would still choose to save?
Whilst I agree with that sentiment, situations change and a person who was once well off can find themselves in a position where they have to make tough decisions between providing and saving.
Say that to the person living in a state without a functional sex-ed in school and/or abortion is banned.
Or as someone else commented, situations change. Believing that someone can make a plan that is guaranteed to not go awry at any point during the, at least, 18 years they have responsibility for a child is borderline delusional.
But you still didn’t answer the question: Would you save for your pension or feed your kids?
Assuming it’s a 1:1 match and is immediately vested they would technically still gain more money by contributing, immediately withdrawing all of it, and paying the associated taxes and fees.
So it’s definitely possible they’re leaving money on the table either way.
Several 401k providers I had before going the self employment route offerred loans secured by the 401k blanace for home purchasing and other uses, and at the end of the day, if you end up in an emergency financial crunch can always cash out the 401k, counts as income that you pay on that years income tax plus 10% irs early withdrawal penalty (amounts may have changed since I last looked).
Correct. Not people. They are literally nothing. They don’t deserve retirement, voting rights, or the legal right to work. When I see them 65ers, don’t say that outloud because some sensitive people get really upset, when I see them 65ers, I pretend they aren’t there.
Keep that GenX link back in 1977 where it belongs.
1978ish to 1987ish has it’s own corner referred to as Xennials. There was a technology and culture transition for my generation that was considerably different from Gen X and not quite as prefabricated as the Millennial generation.
Many organizations are beginning to move away from generational studies as aside from the boomers who came about in unique circumstances they tend not to reveal anything unique about a given generation. Pew just announced they were doing this.
I’m a Republican and this has nothing to do w/ parties. Some people are the grasshopper and some people are the ant. I’m an ant, I can retire right now at 50yo and it wouldnt be a an issue.
So they want to fritter their money away well thats their problem. I have been saving to retire since I was 19. And a diversified portfolio, gold, silver, guns, land, 401k, Roth, hard currency and a skill set that I can work into the 80’s if I chose to…
I hear you, but what if, and hear me out here, human beings deserve the basics of living even if they, say, lost all their money due to medical debt, education debt, credit card debt, natural disasters, and/or just plain shit luck?
I don’t think anyone is saying that the average person looking to retire is planning on throwing millions of tax dollars around, they literally just want to live a decent quality of life. If you had to rely on something like the government when you couldn’t work any more, wouldn’t you want the same kindness?
And in those cases I can find exception. (not for CC or educational debt, you bought the ticket. Take the ride)
But if you willfully squandered your money and/or didnt sign up for the basic 401k at work then I have no pity. I’m an engineer, I found out the other day my coworker the same age as me has just signed up for a 401k. He left 6% on the table for more than 2 decades, fuck bailing that guy out.
I’m all for a decent quality of living, just not on my back because you didnt do anything to deserve it.
No but like that’s the point - the basic human decency thing means that it’s basic, inherent and needs no qualifiers. Even people you disagree with are still people who have inner lives all their own. They don’t deserve to starve and die just because they didn’t play some arbitrary money game we decided was important however many centuries ago the right way.
I have a hobby so I shouldn’t get to retire? Oh, fuck off. People like you made this country to worthlesd shithole it is today. I genuinely hope you lose everything.
I think that he ment studying photography at college/university and trying to make a living of it. I still feel that any should die from poverty no matter their life choices.
Good choices only goes so far. How many planed for a war in Ukraine on the back of years of pandemic for instance? People in a good situation right now tend to not realise how large part luck had to do with it.
We’re not saddling bad choices on anyone. We waste so many tax dollars on corporate bailouts while allowing corporations massive tax breaks and we still don’t have the money to provide food and shelter to the vulnerable of our society? Somehow we never have money for helping individuals, but the second a corporation needs anything the money is magically there. We’re the wealthiest country on Earth by a fucking mile and we somehow cannot afford to not let people die in the street because they got dealt a fucked up hand in life, or had unavoidable medical debt, or didn’t have anyone to teach them finances because our education system sure as fuck didnt. Letting people die in poverty isn’t the morally right just because they didn’t have the opportunities or luck you did.
Do you have any idea how many people have 0 debt or kids and still can’t even afford to save for retirement because wages are ass and living is expensive, let alone at 19? I grew up surrounded by poverty, and I’ve seen first hand how inescapable it is. I’m extremely lucky in that I had my family to support me through college and allow me to make more money than I can even fathom at 23.
I’m making all the right choices currently. I’m maxing out retirement, saving for my future, and paying 35% of my income in taxes to the government to just give to a few billionaires so they can become richer instead of helping those who actually need it. Just because I’ve got mine doesn’t mean I’m gonna say fuck you to everyone else. I want to help people who are less fortunate, not pull the ladder up behind me.
Our country is a fucking joke for the poor and vulnerable of our society, and we should be doing so much better, but we aren’t because some dickwad needs another billion dollars.
Well lets start by cutting of funding to Ukraine, Israel, and every other country. Close all the foreign military bases and we could realistically take care of all these people in need. Won’t happen but its a nice thought…
Let the world take care of itself, I’m sick and tired of us (The USA) being the “World Police”
And fuck the bailouts, that pisses me off more than anything. Let them fail.
Does that include the opportunity cost when the world goes to hell if we don’t invest in that foreign aid? We’re not always good investors in the future, stability, and human rights of the world but I have to believe our foreign aid is a net positive (and we really need to be doing a lot more of it, especially in forward looking areas like renewable energy)
Things have changed considerably since you were 19.
I’m younger than you but not by a lot. When I was 19 I moved in to a 1 bedroom apartment for (inflation adjusted) $700/month. That exact same apartment now rents for $1445/month.
A couple of years later I bought 1 acre of land and put an 1800 sq foot home on it for (inflation adjusted) $275k. That exact same house was sold in 2021 for $433k.
I’m choosing housing here because it’s easy, but I could just as easily pick college, general cost of living, etc…
My point being that you (and I) were set up a lot better to save for the future than the 19 year olds of today.
[Edit] guess I went on a bit of a sidetrack. I’m not sure you were even talking about today’s 19 year olds…
You seem to have made some good choices but you don’t seem to understand how much luck has to do with the outcome.
It doesn’t take very much to wipe out savings or destroy a plan, especially before you got any funds to handle the unexpected and even more so in the US and it’s low de-comodification.
Get hit by a car by no fault of your own, rack up a high medical bill and be fired due to not being able to work. It’s not that an outlandish scenario and one that most can’t plan for or have money in reserve for.
And that’s of course even harder for someone growing up in a poor household and working minimal wage jobs.
It was no luck, I made well informed decisions and sacrifice a lot making those decisions. I have lived all over the US for a step up. Sacrificed the comfort of friends and family to get that leg up. They don’t hand it to you, you have to claw it away from them.
I agree one bad event can wipe you out, I’m not against those social safety nets. I was once for a brief time on unemployment on a snafu w/ a contract.
I have issue if you willfully run a CC debt or live on student loans and I should have to bail those people out. Cancer, I’m in we can help, you spent 180k on a shit degree it took you 6 years to get, nope. But gucci on a CC, nope.
And I grew up on welfare when my dad left and refused to pay child support (oh the 80’s no enforcement). I’m well familiar of the taste of government cheese and Army PX peanut butter.
It absolutely was luck. You didn’t get hit by a car driven by a driver with no insurance. You didn’t get a rare form of cancer which your own insurance won’t cover. You didn’t get suddenly laid off and have to move because there are no other prospects in your area with good enough pay. All of that is luck, not skill. All of it can wipe someone out financially.
You sure as hell implied it. I talked about thing that are unlucky that can happen to anyone and your response was telling me it didn’t happen to you. Which was my entire point. You were lucky.
Resorting to name calling is a sure way to indicate you’ve been backed into a logical corner, and don’t want to challenge your own beliefs, so you have to denigrate your opponent.
Classic Republican with zero empathy or ability to understand anyone else’s life experience outside of their own privilege. Slaves benefited from being owned, right? STFU.
The lack of empathy AND the concept of the zero sum game. They all think someone has to lose for someone else to gain. I don’t think their brains have the ability to appreciate the concept of a rising tide lifts all boats. That just goes in the shit bucket of “socialism”.
Lots of people of people have called you out on how much luck you’ve had on not getting majorly sick or anything else that might have stopped you from making money.
But you’re also very privileged, or more accurately are in a position that you can’t expect from everyone, because you were free to move cities for your career. Some people just don’t have that comfort. They rely on family or friends to make them through the day. They might have kids, they might need the mental support, whatever.
Even if they could theoretically make it without the financial, practical, or emotional support, you can’t expect people to give that up just for their career.
I’m from Europe and lived in a country with a much higher pay than my home country. After 2 years I moved back because I just was not happy without being close to my family and friends. I would have been much better off financially if I stayed there, even if just for a few years longer, but it was just not a sacrifice I was willing to make.
Hard to take anything you say seriously as your party considers my vote and the constitution worthless. Seriously, anyone still in the Republican Party today can go fuck themselves.
It is now very clear that Jan 6 was an attempt to discard my vote and 90 million other Democratic votes to instill an illegitimate president. Anyone still remaining a Republican must find this treasonous behavior acceptable. Why would I ever respect the opinion of someone who feels their singular opinion is more important than anyone else, including the Constitution?
Stop whining over helping your fellow human beings ... because the hell you were able to set yourself up financially without any help from anyone at anytime in your life.
I always empathize. At the end of the day it comes down to education and rural parts of this country are massively underserved when it comes to educational spending. I come from a rural community and it seems like everyone regardless of party lines knows the issues but it’s infuriating to see people vote against their self interest because they’ve been disincentivized to discuss things with their neighbors and come up with the best solutions for their community
Except they won’t call it a social safety net, because Socialism is evil. They’ll call it something like “Returns from your tax investment” that masks the fact that the younger generation is paying for the older one to retire and make room for the younger generations promotions.
Maybe they’ll call it “Patriot Security” or some other bullshit term
This article is a year old, but even in the US farmers are taking advantage of the shortages caused by the war.
Local (Ohio) farmers near us have planted wheat for the first time in at least 20 years instead of the usually soy/corn yearly summer rotation. It's weird enough to see wheat in the fields that something must be driving it.
I found out last year my parents have no pension or savings. They are both over 60. It really stressed me out but my siblings seemed to have no issues. I was so glad that my mum pulled me aside a month later to tell me she had secrets saving stashed for them but it’s bizarre that up until then I heard no complaints from anyone else in my family.
The neighbor who called this fuckin lynch mob better be on trial for conspiracy as well. “A neighbor called to report two black men were staying with a white woman.”
What the fuck. We need a strong leftist militia so people have someone to call when the cops are the ones that need to be stopped.
I find it absolutely hilarious that the generation that can’t stop talking about its sexuality is also the same generation which is having the least amount of sex.
Sexuality isn’t sex. Why are you unaware of a basic fact like that? Do you think you have to have gay sex to be gay? Are all virgins lacking a sexuality?
There is no generation that has pushed sexuality more than these zoomers to where it is literally the only defining part of their personalities. They have pushed something - that they aren’t even doing - to an obnoxious level. Every generation goes through it’s phase where it comically think its “invented” sex, but boy oh boy are these zoomers going past that. And the fact that they aren’t even doing these things is what makes this generation an even more of a joke than it already is.
It’s like we get it - you like to pretend to suck dick, but you’ve never actually sucked dick. It’s fine. We aren’t judging, but we just don’t give a flying fuck what you (don’t) do behind closed doors. You can find a hobby. (Not) sucking dick doesn’t have to be the defining trait of your entire personality. It is insufferable.
Old men have made this same rant for literally millennia. Just because you’ve forgotten what it is to be young doesn’t make young people any different than how they’ve have always been.
You know what’s really insufferable? People who make their entire personality “kids these days” and “back in my day.”
Oh no, kids are having fun and talking to each other! Better put a stop to that lmao!
But they AREN’T having fun. That’s the whole point of the article. That’s what makes zoomers such complete and utter jokes. We’d call them posers in my day, but I’m sure if a zoomer was called that now, they’d go crying into their room and need their emotional support ferret to coax them out again.
Yeah, they should probably be internet trolls instead.
You’re probably not the one to be telling people how to handle their shit if this is how you react to kids having perfectly normal conversations amongst themselves. It’s adorable that you think they’ll care about what some old fart thinks about them though, haha! The self-importance of old men can never be exaggerated.
Please teach us all how you regulate your emotions so well LMAO!
Don’t fret, you can buy a new ferret. You can train it to watch the same Hentei you get off on, but please don’t dye it’s fur the same shade of blue you have your hair. Remember how it gave the poor thing a bad rash? Not cool, bro.
Not sure what is crazier - your inability to function in the real world, or you repeatedly thinking that someone else is upset. That inability to read a situation usually means someone falls on the spectrum and that could easily explain your inability to function amongst others. No emotional support ferret is going to help you there… even with blue fur.
Being slightly ignorant to the politics of this, what is motivation for Russia to do this? I realize it will harm Ukraine financially, but will that really affect Ukraine’s war machine as it’s dependent on Western support already? Won’t this just galvanize the West to continue to support Ukraine to re-establish grain shipments?
In addition, it gives Russia leverage over countries that have been dependent on Ukrainian grain. Russia is trying to get them to depend now on cheap Russian grain.
Global famine starts. People run to Europe. Europe lifts sanctions and stops sending arms to Ukraine. Ukraine becomes part of Russia. Grain gets sent again.
All the Republican/Trump supporters I’ve ever met here in New Zealand (why? Who the hell knows)are batshit crazy. Most of them Christians too surprise surprise.
You can thank Rupert Murdoch and his cable TV “news” empire. He has propaganda channels internationally that all spout the same pro-Trump/right wing crap that idiots fall for.
As a frequent customer of CFA, I’ve quite often seen teens and young adults with various “unatural” colors in their hair. But it looks like the policy was “misinterpreted by the operator” and she was able to come back without changing her hair color.
Neato! It really is just a piece of (waterproof) paper on a clipboard – and you write on the clipboard, too – and with just a regular graphite pencil. I can’t say I’ve ever given much thought to how one might write underwater in that situation, but if I had, I would’ve guessed some sort of waterproof tablet. But it’s cool to see that sometimes the basics work better.
America is such a strange place—I know a lot of conservatives will probably cheer in response to this doctor leaving the state. The resulting huge void in the ladder of pediatric care and the poor health outcomes for children are just collateral damages in the struggle for republicans to be able to openly hate and discriminate against the queer community again. It’s ironic (or maybe just hypocritical?) that the republicans have pivoted all their messaging to “we have to protect the children,” while directly creating situations like this that hurt children.
This is in part due to the fact that regulating pollutants put out by cargo ships (who in the past used the cheapest, dirtiest fuels) has led to a decrease in clouds known as ‘ship tracks’. These are real clouds seeded by pollutants from cargo ship emissions, and now that we’ve cut down on their dirty, toxic emissions (which is a good thing!), we’ve also cut down on those ship track clouds that were helping keep light and heat from hitting the ocean and warming it up.
We’ve been geo-engineering with carbon emissions, we were unknowingly geo-engineering by seeding clouds with cargo ships, and now we need to figure out how to engineer our way out of this mess. Generating clouds with inert seed material like salt from the ocean might be part of that solution.
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