I am a Gen X, 55 years old, and living in California near San Francisco. I have a net worth of $1.6M, and for me, this is not enough for me to retire with the lifestyle I want (i.e., beachfront home, beautiful wife, and a vacation every month), which I estimate to be about $10M.
So a 401k would be better if enrollment was automatic and if employees had someone planning out the finances for them. ... That is literally a pension.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
Silly children, pensions went away 20+ years ago. Gen X has always known we'll never be able to retire. And we didn't start saving late, the Boomers have been destroying wage growth for 40+ years; there was never any extra income to save in the first place. And they call this is a Finance channel??? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
GenZ and younger millennials have been an issue in the workplace, and employers are hiring people in their 40s, 50s, and 60s now. They are way more reliable and don’t cause distractions. Not all GenZ or millennials are bad, but a large chunk of them are.
My defined plan has been in critical status( Ngipp). My new job has 401 that I will max out 15% after my pension goes into effect to help my pension going into 65 will work until 67
Boomers never have enough right?, they had the best years of job income, the best years of stock market growth, the best years for interest rates to buy homes, the best years for cheap major goods(homes/vehicles), the best years for educational costs, the best years for acquiring a job that didn't require an education.
@@anniealexander9616 are you familiar with the concept of a bell curve? Do you think I'm more worried about two or three standard deviations, or more about the mean?
@@TriumvirSajaki I think you are making excuses. Your generation pays $8 for coffee, Doordash dinner, and plays video games. Gen X and Boomers can cook. Dining out was rare. Even today, I rarely pay $8 for a meal, must less a cup of coffee. Friday, I bought Walmart stock with 100% of my paycheck. I also bought a rotisserie chicken from Walmart for $3. I'm still working on it.
@@anniealexander9616 what excuse did I make? I asked you a question to clarify your understanding of a concept because I doubt you actually understand my main point. But, to use your style of argument, I never drank coffee or alcohol my whole life, and I eat out once a week and never used door dash; does this debunk your point?
@@TriumvirSajaki No! I understand. I'm Gen x but my sister is a boomer. She worked till age 67. She put her kids through college and her granddaughter that she helped raise. I'm still working and paying taxes. We deserve to be able to retire. Our generation works more than 40 hours a week most of the time. Plus we raise food. I completely debt free including no mortgage but I have tomatoes, cucumber, cantaloupe, jalapenos, basil, sugar snap peas, blueberries, and pecans. Your generation struggles to go through the drive thru.
Hi Dear I hope you are having a good time! I visited your TH-cam channel and I saw that your content is so good. But there are lots of workspaces. You need to improve a lot of things in your video. If you improve the actions in your videos then your videos will increase more subscribers, views will increase and will be on the top of the search results on TH-cam. We can talk about it if you want.
Finally someone remembered gen x exists
Genx who? 😂
I was kind of thinking the same.
I am a Gen X, 55 years old, and living in California near San Francisco. I have a net worth of $1.6M, and for me, this is not enough for me to retire with the lifestyle I want (i.e., beachfront home, beautiful wife, and a vacation every month), which I estimate to be about $10M.
How do these stats match with stats saying most Americans barely have savings for next month? Who are they asking exactly?
18 year olds
So why all the talk of the great wealth transfer?
Like that the 20’s-30’s are investing for retirement!!!!
So a 401k would be better if enrollment was automatic and if employees had someone planning out the finances for them.
... That is literally a pension.
I’ve been diligently working, saving and contributing towards early retirement and financial freedom, but since covid outbreak, the economy so far has caused my portfolio to underperform, do I keep contributing to my 401k or look at alternative sectors to meet my goals?
keep contributing to your 401K, remember you are in for the long haul, but I'd suggest you consider financial advisory
Silly children, pensions went away 20+ years ago. Gen X has always known we'll never be able to retire. And we didn't start saving late, the Boomers have been destroying wage growth for 40+ years; there was never any extra income to save in the first place. And they call this is a Finance channel??? 🤣🤣🤣🤣🤣🤣🤣🤣🤣🤣
Not with my DB pension. Still careers out there with this type of plan.
The people who won't hire over age 40 and the people who expect us to work until age 70 are the same exact people.
GenZ and younger millennials have been an issue in the workplace, and employers are hiring people in their 40s, 50s, and 60s now. They are way more reliable and don’t cause distractions. Not all GenZ or millennials are bad, but a large chunk of them are.
@@jesse_- I hope so. Youth worship is overrated.
My defined plan has been in critical status( Ngipp).
My new job has 401 that I will max out 15% after my pension goes into effect to help my pension going into 65 will work until 67
F.I.R.E
It’s no good. Those people have zero lives for 20 years just to retire early.
@@jesse_- enjoy working kid.
We know that’s why they’re still a large part of the workforce
Boomers never have enough right?, they had the best years of job income, the best years of stock market growth, the best years for interest rates to buy homes, the best years for cheap major goods(homes/vehicles), the best years for educational costs, the best years for acquiring a job that didn't require an education.
Social security benefits too
Scam channel scrubs your posts that they don’t like
Covid saved my retirement.
what, they didn't vote themselves ENOUGH of their kids' money?
Oh please. We are supplementing our kids income. I gave mine free homes.
@@anniealexander9616 are you familiar with the concept of a bell curve? Do you think I'm more worried about two or three standard deviations, or more about the mean?
@@TriumvirSajaki I think you are making excuses. Your generation pays $8 for coffee, Doordash dinner, and plays video games. Gen X and Boomers can cook. Dining out was rare. Even today, I rarely pay $8 for a meal, must less a cup of coffee. Friday, I bought Walmart stock with 100% of my paycheck. I also bought a rotisserie chicken from Walmart for $3. I'm still working on it.
@@anniealexander9616 what excuse did I make? I asked you a question to clarify your understanding of a concept because I doubt you actually understand my main point.
But, to use your style of argument, I never drank coffee or alcohol my whole life, and I eat out once a week and never used door dash; does this debunk your point?
@@TriumvirSajaki No! I understand. I'm Gen x but my sister is a boomer. She worked till age 67. She put her kids through college and her granddaughter that she helped raise. I'm still working and paying taxes. We deserve to be able to retire. Our generation works more than 40 hours a week most of the time. Plus we raise food. I completely debt free including no mortgage but I have tomatoes, cucumber, cantaloupe, jalapenos, basil, sugar snap peas, blueberries, and pecans. Your generation struggles to go through the drive thru.
Hi Dear
I hope you are having a good time!
I visited your TH-cam channel and I saw that your content is so good. But there are lots of workspaces. You need to improve a lot of things in your video. If you improve the actions in your videos then your videos will increase more subscribers, views will increase and will be on the top of the search results on TH-cam. We can talk about it if you want.