LogFAQs > #930142444

I mean, boomers just like every other generation had about 50% of the pop working at min wage or near min wage jobs, that really hasn't changed much. There was more opportunities for the OTHER 50%, but you still have tons of them who just worked full time to live paycheck to paycheck.

Meanwhile social security may still be there for them, but if I retire, I'll get a whole $1000 a month, and some get only $700. That hasn't changed much in the recent past, but cost of living sure has. You can live on $700 maybe...if you find somewhere cheap, but....try living on that while your older and have perscriptions you need to pay for etc (cause sadly it's not free in many states). If I moved back to CA i'd still be paying $300 a month for my perscriptions even with insurance for instance.

Yeah, there are way more wealthy or fairly well off boomers, that is for sure, and a ton of the millionairs (of which there are many in this country) are boomers, but.....you still have a good percentage of them who just worked hard their whole lives and are now no longer capable of doing so, and finding that living on just social security is.......maybe not impossible, but certainly a serious challenge.

Meanwhile, visit a nursing home sometime, you'll see alot of boomers in there now, and those places in general are hell. Seriously you don't want to end up in one, and it's gonna get worse the more boomers start going into them.

You should pity them honestly, not the wealthy/rich ones, but any boomers who don't have families that will support help them (or no family at all), and don't have money saved for retirement etc (Cause they worked in retail their whole lives, or at a gas station or cooked at a diner or in a warehouse etc etc).

My generation still has a good 10 years till retirement, and honestly by then it may not even exist....but at least most of us (even the older ones), have had some time to realize that if we don't save, we are seriously going to be screwed (of course with medical bills, student loans and all the other crap going on, many have no savings or are in serious debt anyway). Gen-X isn't much better off then the non-wealthy boomers (Except we have a much smaller number of wealthy/rich members), but we are going to get to see our doom by watching the boomers go through it first.

Gen-Z and Millenials may know the world is going to pot, but both are generally young enough to still enjoy life, and possibly move out of this country, save money themselves (and hopefully avoid college etc) even if it means living much more frugally (Gen-x still tended to spend money instead of save it, even if there was a surplus, in fact they generally still tended to use credit cards etc and waste money that way.....because the negative effects had not really been wide spread/known yet for their 20's and sometimes 30's).

Who is really winning?

The rich are of course. Wealthy and rich Boomers are doing good, but reaching their 60's and 70's now...medical issues etc are becoming a problem and many are in retirement communities (if they are lucky) or nursing homes (not winning at all). Gen-x can see their future, and it's not far away, and for most it does not look good at all. It's too late for most Gen-x to actually do anything about it as well, so a ton are depressed.

Millenials and Gen-z have to live in a world that is pretty depressing, but both are young enough to still enjoy it, and honestly for now....there have not been huge effects. Some are young enough to not even have student debt (or were warned about it at least), and while they pretty much know they won't be buying property, you can still live very cheap in this country if your willing to rent a room etc.

I'd say unless your wealthy, Gen-z/millenials have it the best right now, even if they do have less money on average then the older generations (that are not wealthy). Tech has advanced enough to make living cheaply easier then ever before.
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