The Retirement saving shortfall tidal wave

You guys would never make it in politics. :LOL:

Thank you very much! Actually got released from my first government job for failing to play the game and quit my second one because is topped off the ol BS bucket! I really do detest politics but it's like this continuing train wreck I can't look away from. As long as I'm not on the train, it can be entertaining if not sometimes horrifying!:LOL:
 
I'm the pre-millennial (born 1984) who turned out darn cheap. Heck, I was relieved when he got his future wife a decent engagement ring. I'm not sure how I did it; his Dad was a financial disaster who was incapable of LBYM. I taught DS early on that there were trade-offs, though; when we flew to Myrtle Beach to visit my parents when he was 7 or 8 he said it would have been nice to fly Business Class. (He'd experienced it when we flew to Ohio on his Dad's FF miles.) Instead of lecturing him for being ungrateful, I told him that the extra cost of Business Class, which was then another $1K for the 2 of us, was what we'd spent on a wonderful long weekend in Montreal the month before. He got it.

Back to the OT- just another example of the financially clueless: I was reading the AARP newsletter (DH is a member) and one member wrote in to Jane Bryant Quinn's column saying he'd been given the option to take a larger pension over 6 years when he retired, rather than for life. He'd figured that taking it over 6 years was a good bet because his father died at 50. Well, now he's 85 and he needs the extra money and wonders if a lawyer could "help me get my pension back". :nonono:
 
I have a family member with a step son who is in his mid-30s. He has bounced from one enabler to another throughout his network of family and friends for the past 15 years. He never held more than a low wage temp job here and there. A prime example of how bad things can get when nobody is willing to use tough love.


I have a friend who did this for years. Then his Dad passed away, and his Mom moved back to Europe. Suddenly, he was able to find stable employment, and quickly got his act together. Amazing what not having a safety net will do.

Some birdies fly from the nest on their own, and some need to be pushed out, but the vast majority will figure out how to fly.

DW and I each have a 40-something sibling still living with a parent. Our kids have been told in no uncertain terms that that option is not available to them.
 
I don't hate 'em - I just want them to get the hell off my lawn!

Wait....... I thought you said you wanted them to be available to wipe your butt when you're in the NH strapped to your wheel chair with drool running down your chin? Or was that someone else?
 
"Thread Evolution Template"

Question or Observation
Judge
Judge
Brag
Judge
Brag
Worry
Brag
Humble Brag
Worry
Judge
Nugget of Wisdom
Brag
Humble Brag
Judge
Judge
Worry
Judge
....


(Tongue in Cheek)
 
A lot of millennial observations and predictions seems similar to the ones my parents' generation said about mine - the 'turn on, tune in, drop out', 'all we need is love' counterculture generation.

Of course, most of us got on the consumer bandwagon eventually, and are the ones living on easy credit and pre-2008 refinanced loans to get access to home equity.

It's going to be interesting to see how the over-leveraged big home multiple SUV folks will manage once the income dries up. There's where it impacts me, I suppose - when politically they come after the ones who did save.
 
I'd like to add to the judge category with a bit of worry thrown in for good measure. As for bragging... I can judge with the best of them!


... There's where it impacts me, I suppose - when politically they come after the ones who did save.

I've mentioned this type of scenario more than once to DW, family and friends who have saved. Those of us who have saved are made to feel guilty that we "have" while there are hard-working, seemingly well-intentioned others who "have not."

There's a recent thread on this forum regarding an article published in The Atlantic regarding a writer who made poor financial decisions in his life. The writer indicated that so many financial matters are "just life" and he shrugged this off as being out of his control. It's those type of people that are going to find ways to get their hands on your money!
 
Last edited:
So do you have any thoughts as to why this happened in your home? Most kids have a roof over their heads and enough to eat, but they don't all follow the path of your kids.I'm curious because your post could have been written by my sister about her almost 19 YO DD..
She's living at home, messing around at the local CC. Can't hit college level math so takes non-credit catch up math. It takes her about 2 or 3 tries to pass each level and shes still 3 levels away from college math classes. Doesn't have a job and says the reason she flunks math is that she doesn't have time to go to the study labs. Told the college counselor that her parents don't support her love of strumming guitar and art, so it's so hard on her to have a pick a study field. I have no illusions she will even grad the CC let alone in 2 years. I tell my sister, make her pay for the make-up Math classes out of her own pocket, quit paying for her 100 dollar hair streaking jobs, makes her life a little uncomfortable, or she'll be living in your house rent free, eating your food forever. My niece rules the roost at that home and nothing good is going to come of it.


I can only speculate - we lived abroad due to work for a good portion of my kids lives. I was trying to give them life opportunities in the form of world experience, global travel, speaking foreign language, appreciating other cultures Etc. Stuff most American kids get zero exposure to. On the other hand my kids didn't get a chance to have summer jobs and were surrounded by other kids whose sense of reality was fairly warped - kids who never have to work in their lives - old wealth or families who owned conglomerates, were high level diplomats, or C-suite executives. They are street smart yet sheltered and this's skills are hard to apply back here in Mayberry, USA .

Despite our own LBYM, the perks that come with decades of global megacorp assignments where ok and some pitfalls of that lifestyle were hard to avoid too. Add to that the desire to provide more for my kids than I ever had and DW who never did without growing up.

I can be an jack-ass at times setting the bar high (it's set high I am told but I think is low... But that's a judgment that everyone makes for themselves) and that probably doesn't help.

We moved home to the USA a year ago when I FIREd and it's been a big adjustment -- for us parents it was coming home. For the kids it was leaving all they knew as kids behind in a foreign country and over night expecting them to become American again. ( they lived abroad for most of their childhood aside just a couple years). Some of this may just be taking transition time to adjust.


I think personality certainly plays a part. My older son is Introvert and Sensing. He is truly afraid to go out and "make things happen". Needs to be the wing-man not the initiator. The other day I heard it called the snowflake generation. That's him. Got into a good university and flunked his first semester. Did better his second semester but not at all what he is capable of doing. Also he is a 1 marshmallow now vs 2 marshmallows later type. And being empathetic and sensing, he would much rather give his marshmallow to a friend than eat it himself.

Younger son is a bit more aggressive. Likes to hustle. Is more of an extrovert and wants a summer job. He'a traveled solo internationally since age 15 - pretty independent and determined and good financially. He is a 2 marshmallow kid ...but always trying to figure out how to scam the system to get a 3rd marshmallow from someone else without anyone noticing.

A dose of family counseling is in order. :)
 
Last edited:
Your older son could be my niece, there is a reason her favorite things are solo endeavors,she had the grades for a 4 year (even Math) but they all very wisely decided that the local CC would be a better fit for her now. She is scraping by at the school, but her life is no different then being in high school, with the exception she regularly tells her Mom, I'll do what I want I'm an adult now.

As for the marshmallow she's so timid someone would have to actually give her one or she's starve. They are doing family counseling, so hopefully things can improve.

Another common theme is "you are too demanding" the standard line they throw at you to make you feel guilty.
 
Or it may be that no one in the USA will ever starve. Everyone will have food and shelter, although it may not be ideal. Healthcare will always available, regardless for your income. You can life a life of leisure, without working at all.

The only benefit that saving for retirement has is to have a few additional choices at the end of life. If you don't make it to a decent retirement, it was all for naught.

It's a similar to collecting Social Security at 62 or 70. Why save for something that may never happen? Have fun now.

This is all very true. As has been pointed out by folks that much more intelligent than me...starvation is not an issue in our country. Obesity? Much more of a problem.

Much of the homeless problems are because these folks have either drug/alcohol addiction issues and/or mental health issues. For the *majority* of folks that don't have these issues, it's not very difficult to get a roof over your head and a 3 squares a day.

So...when it boils down to it, there isn't a genuine reason why anyone HAS to save for retirement. Obviously, if you are relying on nothing but the government and/or gracious organizations to fund your retirement (at a minimal level), then said retirement will probably not be very exciting.

On another note, I have also seen a few people mention that perhaps they saved TOO MUCH. I really haven't given that much thought (I don't think I could have retired much earlier than I had) but this is definitely the case for my Dad. He mentions quite often that the only real regret he made in life was NOT retiring earlier. He certainly had the means to do so, but being raised in an orphanage and having some challenges in life most of us here can't even comprehend, I can see where the apprehension to get off the gravy train would be strong and quite difficult to overcome. For me, I was never really on a gravy train and my BS bucket was often quite full, so I was pretty excited to pull the plug when I did and have ZERO regrets about it.
 
Your older son could be my niece.

As for the marshmallow she's so timid someone would have to actually give her one or she's starve. They are doing family counseling, so hopefully things can improve.

Another common theme is "you are too demanding" the standard line they throw at you to make you feel guilty.


He started testing that "I'll do what I want" a few months ago and then backed off as I started to growl and show my teeth ... He is a good kid generally. Compliant. Good perspective on starving. Yes. That's a pretty good summary here too.

I get the too demanding line occasionally and then I remind them there's Alpo in the pantry. That shuts them up pretty quickly.
 
Back
Top Bottom