Yep, it is gonna be worse. Same-age savings are shockingly worse for X than Boomers, and worse still for Millennials and Gen Z. Why does the shift from pension

Yep, it is gonna be worse. Same-age savings are shockingly worse for X than Boomers, and worse still for Millennials and Gen Z. Why does the shift from pensions to 401ks matter? Because it frees up money for zero-sum competition for benefits for one’s kids, in the form of housing (indirectly, paying for quality schools) and tuition/advantage-granting activities. Which drives up the cost of those things, pushing spending even higher. Plus probably some pure keeping-up-with-the-Joneses. [edit] oh fuck it just occurred to me that a lot of US GDP growth in the 80s-today may be because everyone but the Boomers has been burning what should have been retirement savings just to keep from falling behind. And now I’m breaking out in a cold sweat.