Quote:
Originally Posted by The Yen Man
I think you're generalizing too much here. Of all the baby boomers that I know of, none of them fit your description. If anything, they're the ones supporting their kids well into their 20s because their kids cannot afford to buy a house and are thus forced to live at home and save. Meanwhile, some of those kids have given up ever owning a home and are the ones buying expensive cars, iphones and ipads, and go on backpacking trips to Europe and Asia.
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You hit the nail on the head Yen Man.
Many kids out of highschool or those that have just graduated from university feel they are entitled to go backpacking for 2 years travelling the world, all the while, they are still saddled with tens of thousands of student debt. Yet they magically can afford to hop on a plane and plan all of these exotic trips! Ha!
Then if and when they do get a decent job, their first major purchase is a brand new vehicle with all the bells and whistles.
Then they have the audacity to complain they can't afford a house because they are too expensive!
I just can't see how this generation is going to save for retirement let alone support themselves in their latter 20's and 30's.
I just hope I dont end up having to support them through higher taxes.