The Great Wealth Transfer
- Thread starter mcmurtry66
- Start date
That sounds terrible. You're getting screwed while Gen Z deadbeats are getting their loans forgiven by Grandpa Joe.
The real question is - which you'll never know with certainty - do you think if you had left 26 years ago (or any time before that), your kids would have turned out better? I'm curious. On one hand, having a stable nuclear family is very beneficial. But, if you or your wife weren't happy, how stable and great was the family and/or your experience as individual parents?
We didn't need you to confirm that data, facts and statistics are too difficult for you to process. We've known that for a long time.
Perhaps you've don't realize statistics can be manipulated to show different things with the same data.
No, obviously you don't.
Most guys love watching them mature from freshmen to seniors also.
By all means - let's just take Dan's opinion as gospel then.
Another nasty job was working in the chicken houses - many of those around where I grew up.
I worked for a farmer and used to drive the honey wagon up the the chicken house and they had a front-loader that scooped up shit and loaded it onto the wagon I was pulling. I then took it to the fields and spread it around. Not a terrible job, but one time the wind shifted and It covered me.... bad day at the office.
Not opinion - real experience. I don't blame you for not having real historical experience, but you shouldn't put down anyone who has.
You voted for Biden, right?
Well that’s what I thought I wanted, until it was humid , 90 and buggy the first day. I then decided to work at the country club pool down the street.
For them paying part of the cost? Well, the military is one very good option.
You posted exploring Ivy Tech for some credits - that's a great option to cut costs.
I don't know if they still have work/study, but that's income. When my daughter went there 20011-2015, every place was looking for student workers. Summer jobs, of course.
At some point, people have to face reality - if they want to go to the college of their choice, they're going to have to pay for it, via loans or other methods. If I were you, I'd tell them "I can pay this much - you pick where you want to go and how to pay for the rest". And have that discussion as early as possible.
But I think it's important to include them in the discussion and put some responsibility on them for their own education.
Yeah, better option for sure. Not many country clubs or pools where we lived in the country.
Son’s senior year of high school I received emails from two teachers who I had never personally communicated with. Both told me that my son was a leader, kind to everyone, opened doors for girls and adults and other compliments. He’s married with one child. He just got his second promotion at his job. He’s one of the youngest to have to position he already has.
He has one big fault. He wants to win 100% of the time. I am totally the cause of that.
I didn’t have to wait. I felt I should.
Cortez is an Ivy Leaguer!!!! He did better than your coach in school!!!! Head coach of the group that runs the whole board!!! Let that sink in!!!! His damn kids aren’t going into the Fing military’
The discussion was regarding Daniels and the Republican nomination in 2012, not current candidacy...
Pay attention, dumb****...
It was where I lived and everyone made bank. I can't help idiot owners that don't put themselves in their employees shoes. No offense, just saying. I would do the same in a fast food restaurant. That bag better be out the window when that customer pulls up and pump up the volume. Happy workers, Happy customers, Happy owners. That's the way it should be yes?
@JamieDimonsBalls frustration is that the boomer generation came into political power when Clinton was elected.
We were coming out of the Cold War. There was never a time in modern human history that compared with the US superiority of that period. We were a true hyperpower and everyone else was very far behind. It was one hell of decade to live in.
Alan Greenspan famously testified to Congress that we were on track to pay off all our debt, in its entirety.
Then the boomers drug us off into foreign wars that did zero to increase our national security. All while cutting taxes and driving us $30T into debt within a matter of 23 years. An amazing achievement.
But the boomers kept asset prices elevated. Now elevated to an extreme degree that has made the country into a bunch of have and have nots.
I have nothing to complain about as I have boomer parents and in laws that are haves... And going to likely leave a nut big enough I should quit working now and become a ski bum. But I'm not wired that way. I pretend it doesn't exist.
Don't forget deregulating the banks and turning a blind eye to highly risky and illegitimate lending practices that tanked the economy. It took ten years to recover from that, while the haves got bailed out and the have nots were told that life just sucks sometimes.
My parents couldn’t combine their earnings/savings/wealth to leave a peanut
Obama was anti growth. Boomers pushed through bank deregulation and more importantly, sub prime lending. Nice work.
That’s great, but doesn’t directly address
the question. If it’s too personal, tell me to fvck off. But I am intrigued by the complexity of the situation. I may be in a similar boat.
What boat? You thinking of bolting? If so I’ll share my WEALTH of knowledge from personal experience twice, my dad who waited until I left for college to divorce, and close friends who did divorces for years
Not every situation is the same but some generalizations. Fighting parents are no good for kids. But if you can be content without a spark it’s best to wait until they leave bc even when you have kids as much as I do, which is a ton, you still miss them, and words can never capture the torture of the drive after you drop them off for the switch.
If you have to go brace yourself for the divorce and subsequent earthquake that lasts two to five years to calm down. It is a period of hell and incredible expense.
Also consider your money. Start a dirt account. If your wife makes good money that makes life easier. I pay a McMansion with a Range Rover in child support because I rescue hooters chicks.
Your kids will be fine as long as you remain very active in their lives. Daily contact etc. I have mine at least 4 days a week. Divorce is common with kids and at school. They get it and adjust and with phones it’s nothing to maintain constant contact. They can thrive with or without married parents
I will say I’m happier today than I was in either relationship once the honeymoon period wore off. I’m also a little older now and tired and appreciative of my down time. From 18 to two years ago I was never without someone.
Lastly never leave before trying to fix it. The next one will have problems too
My #2 was a Hooters refuge. When that didn’t work, I figured what the hell and stepped down to a gal that clean hotel rooms.
There’s no bottom to my ability to make bad decisions.
I don’t disagree, but the numbers don’t really add up. Like I said earlier, fed student loan are capped at $5,500 a year. We will do that but it’s a small piece of $31k. I want her to stay away from private loans.
She will have a work study job, but the reality is that will be spending money and not be a big enough nut to impact the cost. Ditto on summer jobs. Sure I can tell her $2k goes to college but it’s a drop in the bucket.
The problem is the cost, not who pays for it.
Yea I was more interested in the waiting it out part. Not much fighting, I’m just a bit bored. But I spend too much time at work and with you guys, so the idea of making a change doesn’t make sense to me.
Buy a 911. Or a smoker and make competition quality brisket. We’re all a bit boredYea I was more interested in the waiting it out part. Not much fighting, I’m just a bit bored. But I spend too much time at work and with you guys, so the idea of making a change doesn’t make sense to me.
If $5,500 is the max, how do people get these supposed huge loan debts that are being forgiven??
Would your kids qualify for any academic scholarships? That's where you need to have a discussion with them - they can contribute to their total by qualifying for a scholarship and for that, they have to really put the work into academics in HS.
There are also government loan forgiveness programs if you use them - it doesn't have to be just the military. I know the Peace Corps used to have loan forgiveness/payment if you joined them for 2 years. I know people who used that.
Where there's a will, there's a way. That's why I think you need to have a frank discussion with your kids about paying for college and how they may have to temper their expectations if they think it's going to be 4 years of partying at IU (which I was guilty of).
Yeah, you should open a fast food restaurant and try that.....
When Clinton got elected, we were well down the road of deficit spending. With the help of another Boomer, Newt Gingrich, the budget deficit was under control, but we still had a then-sizeable national debt. Reagan wasn't a Boomer and deficit spending started in earnest under him. A big part of that was government obligations from past legislation, but the Defense budget also grew.
After Clinton, we financed 2 wars with deficit spending, along with more deficit spending due to the 2008/2009 collapse. Instead of letting the market work and letting companies like GM declare bankruptcy (which they did, but with government help) and reorganize and sell assets to more efficient companies, we bailed them out.
Congress has refused to revisit government programs that cause the runaway deficits, but those were passed pre-Boomers.
But if you're going to blame Boomers for the situation, you have to give them credit for developing entirely new industries around the internet, which took off in the last 80s/90s.
Budget deficits today are caused by government entitlement legislation passed before the Boomers. That's not their fault, but Congress has not had the courage, or the motivation, to change things, and that's across generations. Boomers aren't the only ones in Congress these days.
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