Reub wrote:
How can you guys have so much wisdom at such a young age?
I consider myself pretty young as well; only 37. Part of the reason that I'm investing so heavily at such a young age (approximately 50% of my income) is that I saw the results of my father, who did quite well for himself in the 60s and 70s, making approximately $25,000 per month in the 70s and had a financial news show on TV in the southern California area, but didn't save for retirement. When he was in his 70s he was living off of social security and VA benefits. I thought to myself, how could someone who was so smart (he got a bunch of investors to buy gold in the late 70s, and made quite a bit of money for them) manage their retirement so poorly?
So, I decided to do the opposite. I might not make as much money as he did, but at least I'll save wisely what I have.
"I came here for financial advice, but I've ended up with a bunch of shave soaps and apparently am about to start eating sardines. Not that I'm complaining, of course." -ZedThou
Reub wrote:
How can you guys have so much wisdom at such a young age?
I consider myself pretty young as well; only 37. Part of the reason that I'm investing so heavily at such a young age (approximately 50% of my income) is that I saw the results of my father, who did quite well for himself in the 60s and 70s, making approximately $25,000 per month in the 70s and had a financial news show on TV in the southern California area, but didn't save for retirement. When he was in his 70s he was living off of social security and VA benefits. I thought to myself, how could someone who was so smart (he got a bunch of investors to buy gold in the late 70s, and made quite a bit of money for them) manage their retirement so poorly?
So, I decided to do the opposite. I might not make as much money as he did, but at least I'll save wisely what I have.
I'm 40 and I think that this way of looking at the world reflects a certain generational trend as well.
IMHO, the boomers' entire worldview was (and is) a bit delusional. Throughout history, generations of dreamers and rainbow chasers tend to be followed by more practical generations who are less interested in unicorn safaris and more interested in picking up the pieces of their societies and trying to focus on things that actually work.
To me, interest in the PP is part of this narrative of people in their middle earning years trying to consolidate gains in a reliable way and building a brick house against future uncertainty, having seen their boomer friends, relatives and colleagues' stick and straw houses blown away as their underlying delusions were exposed to reality.
Q: “Do you have funny shaped balloons?”
A: “Not unless round is funny.”
MediumTex wrote:
IMHO, the boomers' entire worldview was (and is) a bit delusional. Throughout history, generations of dreamers and rainbow chasers tend to be followed by more practical generations who are less interested in unicorn safaris and more interested in picking up the pieces of their societies and trying to focus on things that actually work.
BRAAAAAAAAVO, MT. I've shared the same feeling of the boomer generation as a whole. As in any gross generalization, there are exceptions (perhaps the boomers who are participants on this board? ). But in my experience, they are the whiniest bunch of spoiled brats. They reaped the rewards of their parents and pushed their obligations to their children. Unfortunately they are a huge voting block so any thought of austerity is completely out the window.
Btw, since we're divulging ages, I'm 33. And I've always wanted to go on a unicorn safari.
). But in my experience, they are the whiniest bunch of spoiled brats. They reaped the rewards of their parents and pushed their obligations to their children. Unfortunately they are a huge voting block so any thought of austerity is completely out the window.