I'd like to see a study on this dispute. I mean, we are certainly more educated about what we need for retirement. But our generation also seems to have more stuff to spend money on and we are excellent at that.
IMO, there are way too many from every generation category under 65 that do not live within their means in our country. Since boomers are wanting to retire now, they do not have time to right the ship. Perhaps the same problem will occur in later generations. I've heard the stories so many times that I thought it was common knowledge: 60 yr old that has helped put kids through college and has worked his entire life wants to make a 3-5 year plan to retire at roughly the same standard of living. The problem? He only has 200k of savings so has to work another 10-15 years. While that would seem to be the exception, it is much more common than you would think. Red and his friends are the exception. Congrats Red, you earned it and have every right to enjoy it.
I think there are more people who can retire comfortably than is commonly imagined. Medical crises are what break the bank more than anything else. Hard to plan for a kidney transplant or thyroid cancer.
Here's a question, so I read where Stacy and Red are talking about gen x and students owing all kinds of money on student loans and not knowing how to manage money and what not, shouldn't coaches be advising these kids who want to come out early for the draft, to stay in school while its free for them? Take a guy like Spencer Ware. As violently as he runs, and being that tailback has the shortest lifespan in the nfl, wouldn't it be in his best interest to stay and get his degree while he is on a full ride, rather than have to come back after his career is over and shell out dough getting that degree? Does that make sense?
No, just the opposite. He needs to get in the NFL and make bank while he can. Having to come back and pay 10k for his final year of school is nothing compared to a year shorter career.
There is a short window of opportunity to play professional football. The university will always be there.
