The alarming number of Gen Xers whose 401(K) plan is to retire in their kids' spare rooms (silver squatters)

Daily Mail ^ | /08/24 | James Reinl

[Libloather]

In the 80's, there was an investment TV commercial. Parents and one 30-ish year old guy walking on the beach. The son asked for his inheritance early. Both parents CRACK up laughing. "Son, we spent that YEARS ago." Pretty hilarious.

[dfwgator]

Nothing wrong with extended families living under one roof, it used to be the norm.

[NautiNurse]

55-year-old Americans have typically saved less than $50,000 for their pension

Yikes.

[TonyinLA]

A wrench in this plan is the Gen Xer’s kids can’t afford it, either.

I’m in this group. My 3 kids are 20-28 yrs old. There’s no way they could buy a house today [I live in LA], let alone one with spare bedrooms.

[wally_bert]

There is the opposite way ala “Why Wait Until Uncle Kevin Dies?”

https://www.imdb.com/title/tt0598248/

Cash in early for keeps.....

[Secret Agent Man]

Umm....the people making this fearporn article probably don’t realize most gen xers (men, anyways) aren’t really planning to ever fully retire, if retire at all.

[crusty old prospector]

One of my sons loves to watch The Waltons.

[packagingguy]

“$446,565”

That’s the recommended amount?!

I’m in the poorest metropolitan area in the nation and you’d need to plan on dying young to retire on that.

[BipolarBob]

plan is to retire in their kids' spare rooms (silver squatters)

And just what is wrong with that?

[Leaning Right]

> Nothing wrong with extended families living under one roof, it used to be the norm. <

Yes, indeed. And grandparents would help watch over their grandchildren.

But, boy howdy. If one member of the extended family would have a beef with another member of the extended family, then sparks would fly. Dinner time would be conflict time. “You were wrong about that thing five years ago.”

That’s what happened in my family - solved by half the family moving out. Sad, actually.

Side note: I grew up in an Hungarian-American family. Long-term grudges seem to be an ethnic trait. Looking back, I’m surprised things stayed so peaceful for so long.

[NautiNurse]

I surmised the $500K savings was the target for age 55.

[Codeflier]

Correct

[texas booster]

If these GenX’ers bought a home in the 80’s with 12% interest (low gain), suffered a loss during 2008, stagnated under Obama or lost a decent amount during Covid, then they are in tough shape.

And yet people expect to retire and not need to work.

[Rightwing Conspiratr1]

I have three spare bedrooms. I’m considering renting them out to redheads, strippers, or girls named Tiffany.

[metmom]

They’re NOT “squatters”!!!!!!!!!!!!!

The media disgusts me, trying to legitimize terms like squatters by applying it inappropriately.

In times past, extended family lived together. It benefits EVERYONE.

[DouglasKC]

This used to be completely normal and was seen as a benefit for both parties. The grands could help take care of the kids and the house and be able to live well and comfortably and have ready caretakers. Satan wanted this arrangement, which strengthened families, to end.

[LastDayz]

You do realize that is the no-go zone on the crazy hot matrix scale.

https://www.youtube.com/watch?v=pInk1rV2VEg

[wildcard_redneck]

That age group has been hammered by Jim Crow 2.0 anti-white laws, timing of downturns, and the evil, skanky Karens. They are the canary in the coal mine.

[wafflehouse]

She urged Gen Xers to look at their 401(K) and rethink plans so they're able 'to live not only longer, but better.'

oh man, why dont i pull this million dollars out of my ass!! why didnt i think of that before! Thanks Caroline!

[wafflehouse]

that is correct! i will work till noon on the day i die