Are you "lucky"if you have a secure retirement?

[DFB]

Back in the late 70's and much of the 80's many said the same... how can people starting out make it when a mortgage is pushing 15%...

Today's rate are some of the lowest in generations...

Each generation has their own things to deal with... I'm sure the kids of today will say the same about their parents...

Boy you're dang right about the high mortgage rates way back then!

 

[ultrarunner]

My grandfather who was not a gambler did say "You play the hand you're dealt"

Didn't really know what that meant as a child...

I guess there are always ways to make the best of what you have and those born today most likely will have opportunities that we can't even dream.

I remember guys just a little older than me that were drafted and never came back... sure brings into prospective.

Another pet peeve of mine is it seems an entire generation laments about home prices... yet a few years ago... prices were rock bottom... can anyone say opportunity?

Also, vast numbers of the past generations earned benefits for education and home buying through military service... seems those crying the most wouldn't even consider military service in exchange for the same benefits...

 

[davrow]

Don't buy the coffee, buy the stock.

I was living in Seattle when Starbucks did their IPO. I would have hawked my house to buy stock.

They wouldn't let me. Institutional investors (millions of dollars) only. By the time the public was allowed to trade it had already doubled.

 

[ovrszd]

Also, vast numbers of the past generations earned benefits for education and home buying through military service... seems those crying the most wouldn't even consider military service in exchange for the same benefits...

Yes, the Military still offers excellent educational benefits. If you are energetic at all you can join the Reserves, get a second part-time job, spend your money wisely, and own your 4yr degree with no outstanding debt. I have helped hundreds of Reservists do just that. Had one female Soldier that also got into the ROTC program. With all benefits totaled, she brought in $750 a month for one weekend a month at the Reserve Center and one weekend a month at ROTC. Can't do that at McDonald's.

 

[DFB]

I do get to see quite a few "kids" at my job. They come thru the orchard in transition phase from high school to adulthood. The local job market here is tight for anybody not college bound. Its a shame a lot have no clue what they are going to do. Some do find the military an appealing opportunity. The rest all I can think is John Candy in Stripes "I'm here for the weight loss program"

 

[davrow]

Regarding the original question: "Are you "lucky"if you have a secure retirement?"

I have to reply I would be lucky... if I did have a secure retirement.

 

[newbury]

Back in the late 70's and much of the 80's many said the same... how can people starting out make it when a mortgage is pushing 15%...<snip?

I loved those times, we had bought at 7% then lo and behold I was buying treasuries paying 14%.

<snip>
Another pet peeve of mine is it seems an entire generation laments about home prices... yet a few years ago... prices were rock bottom... can anyone say opportunity?

People have to have something to complain about. I bought some 70+ acres at what I consider rock bottom for the area in 2011. I'm aggravated that the 150 acres next to it is selling for 2.5 times as much today. Maybe the next recession

Also, vast numbers of the past generations earned benefits for education and home buying through military service... seems those crying the most wouldn't even consider military service in exchange for the same benefits...

No - a lot of them join up, especially during the brief times it seems the war is winding down.
I used to train them.

 

[vtsnowedin]

Boy you're dang right about the high mortgage rates way back then!

I remember a banker telling me my credit was good and I could borrow all I wanted at fifteen percent.

 

[ovrszd]

No - a lot of them join up, especially during the brief times it seems the war is winding down.
I used to train them.

Sadly, a percentage so small it's barely measurable. I used to lead them.

Should be mandatory service.

 

[bajabum]

CONGRATULATIONS on getting so close to being able to jump off the treadmill !!!

Thank You !