I agree with you, Obie.
We have been self-employed (solo architect) the last 35 years. Raised 4 children, with only one modest car. (Still only have one modest car!)
There were some really good years when we could afford to stash some away. They kept changing of the tax laws on us, and that, combined with the ups and downs of the construction industry), meant we could never keep what we had saved.
It all went to .gov! Remember, self-employed professionals get very few tax breaks for stuff like health insurance. When we lost the 5 year averaging, it really stung us!
I feel so sorry for the next generation. We will get blamed for the mess they inherit, but it really wasn’t us, but the fools in D.C.
You bet. Many of the younger people today haven't a chance. I see many of them never being able to afford a home, even with two incomes.