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Gen X has always been screwed. There's never been enough of us to matter demographically. The boomers have us boxed in before us, and Gen-Y/Millenials after.
by nappy-doo 3y ago
Gen X has always been screwed. There's never been enough of us to matter demographically. The boomers have us boxed in before us, and Gen-Y/Millenials after.
- Clubber 3y agoIt will probably be good for GenX during retirement. Nursing homes, elder care and such will be much less burdened than they are now for the baby boomers.
- jlokier 3y agoAs far as I can tell, retirement for many gen X who didn't manage to get a property and won't inherit means poverty and homelessness unless they can miraculously keep high-paying work to cover the cost of rent until they die. Their too small pension won't cover the rent by then because rent has risen and is still rising much faster. Nursing home? They can't afford long term stay due to lack of assets, but what about the decade or two after retirement age when a nursing home wouldn't be appropriate anyway? Seems to me the renting-class gen Xers approaching retirement are just going to have to keep working long past retirement age, while it gets more and more difficult, and their housing stays precarious because they can't get a mortgage due to age. I think this is a hidden, underappreciated issue because people tend to think of property-owning gen Xers with a paid-off mortgage, and don't realise how many gen X never made it onto the property ladder.
- Clubber 3y agoI was specifically talking about the cost of elder care when GenX hits their 70s and 80s due to supply and demand, the demand being lower since GenX is a much smaller generation than the baby boomers. You went down a rabbit hole. If you are a GenX and you are still renting, you're gonna have a rough time, unless you move to a much lower cost of living location upon retirement.