Re: 'Boomers Staying In Debt To Retire In Comfort'

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Post #367,590

by boxley

12/10/12 8:42:19 AM

Re: 'Boomers Staying In Debt To Retire In Comfort'

While the G.I. generation (those that fought in World War II) avoided debt and saved the majority of their income

if you change the word avoided to denied the statement might be more accurate.

If the free and easy credit of today was available in the 60's I think they would not be a lot different.

Any opinions expressed by me are mine alone, posted from my home computer, on my own time as a free American and do not reflect the opinions of any person or company that I have had professional relations with in the past 57 years. meep

Post #367,593

by Another Scott

12/10/12 8:48:59 AM

The article is too simplistic. You're right.

Credit cards were rare until the 1970s or so. And people didn't buy and flip houses, etc., etc. - debt was a big deal.

Families didn't need to go deeply into debt to have a middle-class lifestyle either. One wage earner could (and did) support a family. College education was free or inexpensive. Housing wasn't 50% of income, etc., etc.

Different times - not a moral failing.

Cheers,
Scott.

'Boomers Staying In Debt To Retire In Comfort' - (Ashton) - (10) - Dec. 10, 2012, 03:55:51 AM EST

Easy solution - (crazy) - (1) - Dec. 10, 2012, 08:20:54 AM EST

That is the way... - (folkert) - Dec. 10, 2012, 08:35:07 AM EST

Re: 'Boomers Staying In Debt To Retire In Comfort' - (boxley) - (1) - Dec. 10, 2012, 08:42:19 AM EST

The article is too simplistic. You're right. - (Another Scott) - Dec. 10, 2012, 08:48:59 AM EST

Ignores pension vs. 401k schemes - (hnick) - (5) - Dec. 10, 2012, 09:14:30 AM EST

Look on the bright side - (jake123) - (1) - Dec. 10, 2012, 09:23:16 PM EST

Try being in the Service in the... - (folkert) - Dec. 10, 2012, 09:36:37 PM EST

Not enough is said about the demise of pensions. - (mmoffitt) - (2) - Dec. 11, 2012, 11:24:48 AM EST

Excellent points. Thanks. -NT - (Another Scott) - Dec. 11, 2012, 12:20:43 PM EST

a worker back in the day was happy to put off getting paid - (boxley) - Dec. 11, 2012, 12:48:57 PM EST

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