Since this article is about my wife and me, I'll explain it to Mr. Ezratti.
#GenX? The "sandwich generation" taking care of both parents and kids?
We wanted to be better parents than our own. We are busy making money and that's good because of all the people who depend on us.
As a generation though, our pockets emptier for retirement.
"As the first generation ...to move away from pensions in the private sector, Generation X’s savings problems foreshadow "
@SECRET_ASIAN_MAN You are not the first generation to lose company pensions, we lost them in the late 80's. Also, every generation has decisions to make about living under their means to make it further forward. My daily driver is 13 years old.
@MidnightRider @SECRET_ASIAN_MAN
401Ks were never supposed to supplant pensions, only supplement them. The middle class has been dying since they decided every employee should hand their money over to the company to invest (yes, fundamentally, they pick the administrator) and hope they get it right, with no risk to the company, of course.
@Cosmichomicide @SECRET_ASIAN_MAN Our pension plan was stellar but eventually invested into a 401K. If you made it past probation in my company and you started in the mid-sixties, unless you were a dick or lousy at your job you could stay till you wanted to retire; in fact in those days it was encouraged. This country has been "reverse robin hooding" my entire life because as more wealthy began to make the rules they made them for themselves, it's human nature.