I know Boomers like us who worked hard all their lives and are sitting pretty well.
I also know Boomers who spent every dime they got and now have nothing to show for it.
The Millennials are a lost generation.
They can’t make a decision unless all their friends agree.
Making $$$ and being successful is considered very bad.
I hope I’m dead before this train wreck happens.
My wife and I are in our mid 70’s. She worked until about two years ago. I worked until I was 62, and I took my CPA’s advice to retire and learn how to manage our IRAs.
We have managed our money and funded good education for our kids.
In spite of our ages, we both get job offers and enjoy our lives with zero financial help from anyone.
Our adult children are doing okay on their own.
Zathras, the Millenials I encounter in private law practice and in the professional graduate schools do not fit your description. They are working their fannies off and are focused on financial results and security. Every generation (including we Boomers) has its slackers. I’m not willing to say that the Millenials are better or worse than the Boomers in that regard. There is statistical evidence that the Millenials are forming households and bearing children at a lower rate than the Boomers did at similar ages. However, we Boomers hit our 20’s in a very different economic climate than the one faced by Millenials today.