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I think the big problem is that there are less stable paths now. Previous generations had a clear path to getting a house, affordable education and stable retir
by maxxxxx 8y ago
I think the big problem is that there are less stable paths now. Previous generations had a clear path to getting a house, affordable education and stable retirement whereas now you have to take on a lot of debt, gamble in the stock market and have to have some level of luck to retire safely. Any major health expense or company layoff may destroy your well laid-out plans and put you back to zero.
I think today's life is just more stressful. With some luck you can do incredibly well but it can also go the other way big time.
- piyh 8y agoA lot of older people had stable retirement pulled out from underneath them with pension cuts
- humanrebar 8y agoArguably, Boomer style retirement based on being independently wealthy was/is a fleeting historical oddity. Historically people died young or moved in with family.
- maxxxxx 8y ago"Boomer style retirement based on being independently wealthy was/is a fleeting historical oddity." It was an illusion that never really materialized for most people.
- asdff 8y agoPeople are much more specialized in their professions now as well. I might be able to find a relevant job in every city, but in some cities that might be the only employer, and there is no incentive for loyalty toward your employer, and you make much more leveraging your existing salary for a better job at another company than waiting for a raise or title change at your present one. You are so much better off living in a place where you can easily get a new job under a different employer in your field without having to find a new apartment and plan a relocation as well, not to mention being in a larger network and the innumerable opportunities that gives you.