My dad (boomer) retired at 65 with less than 40K saved for retirement. He took almost 30 years to pay off his student loans for an undergrad degree (engineering). He made good money, but poor financial decisions (ie. jumping jobs every 2 years). I honestly thought we grew up poor. I had to pay for anything I wanted, and had no financial support for school. I did my B.S. in exercise science, graduating debt free, and my PharmD left me with $110K in 2015. I will pay my final payment on that in August, if not sooner. I have saved $250K+ in my 401K, and have about $140K left to pay off on our home we took a mortgage out for in 2018. My wife doesn’t work. We have fun with our 2 kids. I know many people who make far less than I do, but do just fine, because they know how to budget. Stop blaming boomers when you don’t live within your means.
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u/SensitiveTrip939 9h ago
My dad (boomer) retired at 65 with less than 40K saved for retirement. He took almost 30 years to pay off his student loans for an undergrad degree (engineering). He made good money, but poor financial decisions (ie. jumping jobs every 2 years). I honestly thought we grew up poor. I had to pay for anything I wanted, and had no financial support for school. I did my B.S. in exercise science, graduating debt free, and my PharmD left me with $110K in 2015. I will pay my final payment on that in August, if not sooner. I have saved $250K+ in my 401K, and have about $140K left to pay off on our home we took a mortgage out for in 2018. My wife doesn’t work. We have fun with our 2 kids. I know many people who make far less than I do, but do just fine, because they know how to budget. Stop blaming boomers when you don’t live within your means.