"I think you are *Dead Wrong here, the beiigest investment most have is Real Property, it ensures that you DO have something that enables yourself a large Chunk of cash when needed. Can you imagine being 65 and still renting? living off some small pension? I live in California, REAL ESTATE is the key in regards to retirement..."
Who's talking about renting? But land rich and cash poor is what I grew up watching in Florida. A lot of farmers went bust that way. Sure, if you're going to put money into something besides cash, ground is a solid investment. But we're not talking land as investment to avoid paying rent--we're talking cashing out the house in a reverse mortgage or home equity loan. That's something prior generations would have considered to be "spending the kids' inheritance." Now it's just standard practice. I think that's a shame. So much for family values, and leaving your kids better off than you. So much for guaranteeing an income without gambling your equity won't run out before you do.
One thing I will give you is grandparents of Gen Xers are also investing in there grandchildrens' future...