[quote=kev374] . . . And, this generation cannot count on Social Security at all! And who knows what will happen to Medicare, that may not exist too![/quote]
Neither can boomers currently under the age of 60…at least not for their ENTIRE lifetime from age 66 forward. Yes, a portion of boomers are locked out of collecting SS at age 65 – those that are born after August 8, 1956.
[quote=kev374]The problem with the previous generation is that they preach everything, the fact is that they have just been RIDICULOUSLY lucky to have SOLID jobs with pensions, low costs of living throughout their earning lifetime, a super stable job market relatively speaking, low cost for housing and all entitlements intact – SS, Medicare etc. That is not the situation for the current generation.[/quote]
kev, those SOLID jobs were not the “glamour” jobs of today, nor did they have anywhere NEAR the working conditions of today OR employee-friendly laws in place (FMLA for example). Sorrento Valley either did not exist or was ONE dead-end street with four bldgs on it (circa very early-eighties). Most retired “boomers” in SD that DID NOT retire from the government retired from “head-down” positions such as assembler/mechanic from Convair, General Dynamics, NASSCO or Rohr. SD was a manufacturing town and the majority of contracts were with the military.
The Gen X and Gen Y family-consumers of today CAN live frugally and save but most choose NOT TO! Boomers had no other choice, due to lack of as many options, products and new housing tracts to choose from as young families of today have.
