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I continue to see a lot of Boomer misconceptions, by younger people. I dare say most of us or even the vast majority lived quite average lives. I lived the majority of my adult years in a 1200 sq ft house with a mortgage. I never leased a car and would own the same modest car for a decade before replacing it. Oh, and the closest I ever came to a country club was playing tennis on city owned public tennis courts.
We all worked for what we had, no matter what it was. I don't know why there is growing resentment towards people our age.
I think it's the proliferation of TV shows, like Real Housewives, etc. about people who consume ridiculous amounts of consumer goods and waste money on things they can't really afford. It creates a sort of "consumer envy" over what young people think they should be able to afford. No one really needs designer goods, or elaborate manicures, and the latest style of highlighting and straightening your hair. No one needs a new car every 3-4 years. You hear it all the time if you watch the "house hunter" type shows where a young couple buying their first home won't consider a house without granite counters, and 4 bedrooms for 2 people and a dog, so they can have an office, an exercise room, a "gaming" room with surround sound, and a walk-in closet for EACH of them, at 27 years old.
They don't really believe us Boomers that we lived with roommates for years, in apartments and starter homes, and that the homes we own in our 50s and 60s are the culmination of decades of living below our means, and years of paying interest on our homes. Now I realize that I'm generalizing future generations and that individuals are all different, but I see this trend of just "wanting things", superfluous things like boats and off-road vehicles, and not giving any thought to how the purchase will affect their budget or impact their ability to pay their real bills like utilities and rent. I've seen my nephews and nieces go through this spend, spend, spend phase, and they are starting to come out the other side now that they are almost 40. Suddenly they ASK for advice instead of laughing when it's offered.
With a lottery, you must buy a ticket, and the odds of winning are extremely against you.
To play that game you must eventually buy lots of tickets.
Whereas with a pension, you decide to work a career with an employer who offers a pension, and you work there until you have qualified for their pension.
With a lottery, you must buy a ticket, and the odds of winning are extremely against you.
To play that game you must eventually buy lots of tickets.
Whereas with a pension, you decide to work a career with an employer who offers a pension, and you work there until you have qualified for their pension.
I love correcting people when they tell me how "lucky" I am to be collecting my pension.
I tell them that if they did what I did, they'd have what I have. There is no luck involved.
actually the same jobs in many fields have changed the retirement terms ..my friends who retired from the nyc board have totally different retirement benefits then those after them .
so simply doing the same thing may not get you the same benefits
Last edited by mathjak107; Yesterday at 09:33 AM..
I love correcting people when they tell me how "lucky" I am to be collecting my pension.
I tell them that if they did what I did, they'd have what I have. There is no luck involved.
Yes, people told me I was lucky to work as an RN and to spend years at a pension system that didn't close in the 90s like so many others did. No luck involved, just choices.
I remember when I was miserable in RN school (and never wanted much to be an RN) thinking,"If there's another Depression, I can work nights in a nursing home." Not exactly a dream come true!
actually the same jobs in many fields have changed the retirement terms ..my friends who retired from the nyc board have totally different retirement benefits then those after them .
so simply doing the same thing may not get you the same benefits
NY is up to Tier Six now, which recently was changed as of last budget because people are moaning about terms.
actually the same jobs in many fields have changed the retirement terms ..my friends who retired from the nyc board have totally different retirement benefits then those after them .
so simply doing the same thing may not get you the same benefits
Indeed!! I retired, literally, on 48 hours notice, because my employer of 36.5 years decided to "shuffle the deck", about a year after I became retirement eligible, and didn't exactly go out of their way to adequately inform we employees of their plan. And secondly, about 2-3 years after I retired, they eliminated a retirement benefit, that being paid life insurance..........
i just know it’s very different.. my daughter was a teacher. her deal was nothing like my friends
Same with the Feds. That changed Jan 1987. They used to not pay into SS and could earn up to 80% of their high 3 with 40 years of service. After Jan 1987 the pension is 1% per year (so, with 40 years you earn 40%.) They now pay into SS. But, the combined amount does not approach the original system of 80% of salary. Further, they increased the pay in for the new pension to 4.4% (from, I think, 1%) I think around 2014.
In Oregon they also keep coming up with new Tiers.
Last edited by Wile E. Coyote; Yesterday at 10:32 AM..
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