1 IN 4 AMERICANS IN THEIR 50’s WILL NEED $$ SUPPORT; FREIGHT RECESSION WORSENS; IN A DEPRESSION?
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- Опубліковано 11 жов 2024
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Thanks for your analysis and meaningful review of actual data. I'm a boomer. My kid's are on the younger edge of Gen X. I'm helping my daughter purchase my Mom's house from Mom's trust, to pay off my siblings share. She interrupted her degree studies & thus delaying her career path, to help me care for my Mom during her last 9 years living with Alzheimer’s. It's the least I could do to help her catch up. My son has a decent handle on the economic reality and had set himself & family up on firm ground. Lord willing, we'll all weather the coming storm above the flood level.
BTW: Patara of Appalachia's Homestead mentioned your kindness to her & turned me onto your channel. Blesss abundant to you. I'll be catching up on as many of your videos as possible in the next few days. See you then.
@@PeggyLeeSebeni Thank you Peggy for sharing your situation and for watching the channel. 🙏
Stopping by from Appalachia Homestead's channel. Thanks for defending our lovely Patera.
Welcome over. I appreciate you watching.
Ditto!!
We moved into a shared homestead with our kids & grandkids 2 years ago. We both sold our homes and shared renovation costs. We all help each other. My husband & I are still working to support ourselves and we help with the garden, animals, kids and however else we can. It’s working out great for all of us.
Sounds like a nice mutual support system you have set up. Thanks for sharing. 🙏
@@oxtalks You’re welcome. First time to your channel. Thanks Patera!😀
Had to retire at 58 due to legs shot from 35 years of Pharmacy. Somehow God saw us through that, we still had 5 kids to support. One marriage blessed with 12 kids, we have never taken aid from government.
We are definitely in a depression.
I agree!
Multiple marriages, kids out of wedlock won’t help.
Excellent point
Spot on, when you see women with 8 kids all by different men, what do they think they will do when the last one turns 18 and the tax payers welfare runs out?
@@elw6150Find a simp, there’s plenty of them. The simps then become the ones that can’t make it when they get old.
I'm 51, zero marriages, my only son 21 now. Life is super great 👌
Kids in wedlock won't help you either, given how quick American women are to divorce you and then you will still be financially ruined
Nice to hear Patara do a shout out for you and JB.
@@oleradiodudea.m.4735 yes very sweet of her
Everyone needs to live below their means.. keep preparing and praying 🙏, Happy Birthday to your daughter.
I guess me and my husband (49 & 55) are way more ahead than others our ages… our financial advisor said we are in her top 10% clients for retirement $. We aren’t even depending on Social Security. He could retire today, but insurance is the key. We helped my dad 9 years ago before he passed and we recently helped pay for his dad’s first month at an assisted living a few months ago. Our home also has been paid off, 9 years ago. Insurance and taxes are insane though. 😟
Unfortunately many adults did not teach their children about life. They became lazy with instructions and just left their kids to public education. . . See where we are. . . Very few will comfortable ride through the storm, many are going to be tossed to the sea.
« Buy land, they’re not making it anymore ». ─ Mark Twain
Sure are making taxes though
Land produces no income. It consumes income.
when I was 50 my husband became so very sick. we were both between jobs so no insurance coverage. medical bills wiped out our savings, 401K, borrowed against our annuities, he became disabled. it can happen to anybody so if you have a job even a crappy one with insurance keep it! we do not want to be a burden on our kids but they tell us it's not a problem if it happens. thanking God for great kids.
Thanks for sharing this and thank goodness you had options.
Most of these people will be shit out of luck because their. kids won't be able to help. Assisted living crisis is ahead too. 55+ age bracket is the fastest growing homeless demographic.
That is so sad.For me,Never!
@@JamesBlazen No kidding, who do you think all those old people living in tents are?
excuses excuses - all you have to do is live within your means and save !!!! To late now at 55 !!!
Bite me.Gen x are Multi talented.You youngsters don't have any skills to offer, especially any kind of discipline.😊
What a beautiful backyard oasis - you are blessed. ✝️
Thank you 🙏👍
真漂亮
I think many families will be living together just survive. I have 5 years to pay my house off then retire if I make it.
Patara sent us to you- looking forward to listening to your channel 👍
Thanks for being here. I appreciate you. 👍
We are ALREADY IN A RECESSION. Do y'all think the US Government will tell you the TRUTH when there is a PRESIDENTIAL election in November? 😂😂😂
Freight rates to one 1 dollar a mile soon. KAMALA DEPRESSION
Too many trucks and drivers. Park those rigs and reduce supply then rates will go up for the remainder.
Here in South Carolina my 3 kids know now that I will be moving in with them along with their step-mother and step grandmother in the next 3 years. That is what families do here in the South.
You seem okay with being a parasite on your kids.
@bryantsherman7263 Wow, not a second thought how you will make your adult children feel. Have you ever heard of assisted living facilities so you don't burden your children and maybe cause them to want to divorce from the caretaking stress? Seen it many times!!
That is a real imposition. Your kids have their own lives.
To Ox and my fellow viewers. I read this book on The Great Depression which I highly recommend.: "The Great Depression: A Diary"
by Benjamin Roth and Daniel B. Roth.
When the stock market crashed in 1929, Benjamin Roth was a young lawyer in Youngstown, Ohio. After he began to grasp the magnitude of what had happened to American economic life, he decided to set down his impressions in his diary.
This collection of those entries reveals another side of the Great Depression-one lived through by ordinary, middle-class Americans, who on a daily basis grappled with a swiftly changing economy coupled with anxiety about the unknown future. Roth's depiction of life in time of widespread foreclosures, a schizophrenic stock market, political unrest and mass unemployment seem to speak directly to readers today.
Did he say what happened to Insurance companies? I read (not that great book recommendation) that after the first year into the depression that the insurance companies also stopped paying out on policies b/c they went bankrupt too. BUT if you google it, the search engine says the insurance industry held up.
wow, thank you I’m going to pick that up today. I think the unemployment rate was 25% if I’m not mistaken during the great depression so if you think about it three out of four people still had jobs.
I just bought on Amazon going to read it on the plane this week
@@oxtalks You will not be let down. Only drawback was missing years in the 50's-60's due to lost pages. Safe travels!
My dad remarried and took on that responsibility. If he wants to move in, I have a problem. I never signed up to take on the responsibility of a new woman. He made that selfish decision, not me.
LOL my parents are the same both several different ones since they divorced with I was a teenager.
They are on their own since they left me on my own.
@johnygoode2239 Good for you, stay strong, and don't listen to them when they come crying. They left you without the guidance you needed.
Agree. Would not let them in your house.
🎂Happy Birthday🎂
to your daughter!
Thanks Matt!
Thank you 😊
Patara sent me , glad she did. I'm suscribed
Yes I’m late 50s worked hard all my life had some good years a lot of bad ones !? Big trouble
EVENING ALL. HAPPY BIRTHDAY TO YOUR DAUGHTER. MANY MORE, SWEETIE. ❤
First of all you choose a mate based on looks……then when you have kids YOU REALIZE THAT YOUR KIDS WILL OR SHOULD BE RAISED UP BASED ON VALUES ….NOT LOOKS
Always on point, thanks Matt!
👍
Birthday wishes for your family 💐 appreciate your informative channel. 🎉
Everybody’s birthday is in July
I turn 50!! In 2031, that's why I been getting it together the last few years, so I can have a great life in my later years
Smart
👍👍
Wishing your daughter a happy birthday! Expensive month for you with so many birthdays!
Thank you.
Yes July is usually a rough one. 😆
Buy gold and silver. And you will protect your wealth.
I’m a GenX not looking for anyone to take care of me I’ve taken care and planned for my future..I taught my children we take care of our elders.. your parents took good care of you shame if you can’t help them when the time comes ..
What about parents who let the grandparents raise them? And now they need help from the children they abandoned? Not everyone had the typical nuclear family set up
My grandparents pretty much raised me...
Not my ill equipped gen x parents
Well well well, You taught your kids to take care of you at your old age. How self serving can you get.
I think good parents make investment so they are not a burden on their kids.
@@ka-peach7945 I took care of them their whole lives that’s how family works sorry yours is not like that … have a great life and old age alone
@@tinaevans825 life is about forgiveness yes if you can you should help it’s what God wants
I need some silver squatters brother! Too much work to do on farm. I told both girls i need 4 grandchildren each for labor asap...both girls not interested to fight in foreign wars so both girls are giving my need for labor some consideration.
LOL that's right, my father said that's what kids are for. . . Who needs electronics and advance machinery when kids/ grandkids are available 😂
Thumps up on the trial!! Good LUCK!!!!!!!!!!
Bob’s Stores closed everything in the Northeast.
Thanks Matt, you Rock!
I appreciate you 👋🙏
Patera sent me! Great info here, I'll be back.
Welcome 👍
Hello from over at Patara’s channel. I’m a new subscriber here.
Hi thanks for being here and welcome 🙏
Man that headline is a crazy stat, but I guess 3 out of 4 isn’t too bad.
Two out of three according to Meatloaf 😉
@@geedee2420 😂
Thanks for the video. Enjoy the day with your Family and Happy Birthday to your Daughter 🎉🎇🎈.)
Always good to catch your video. Enjoy the day with your girl. 🎉
SO many Gen-X have been in my office, told me w/they could not (refused to) qualify for a home mortgage that they were "I'm going to inherit their house" their parents referred them. I've had clients and a sibling, SELL in Silicon Valley and move out of state to get rid of their kid that they coddled, spoiled, lied to "you're great!" instead of the truth. I had 2 to 3 jobs to buy my first condo at 30 y.o. SO did all my siblings and my parents. Gen-X feel entitled to OTHERS work, money, house, food, etc., it is gross.
Gen Xer here, you really need to stop generalizing. My parents never helped me, I took responsibility for myself. This generational fighting is BS. Maybe if you realized we are at the end of a 100 year cycle of our monetary system you would understand. Yes, there is personal responsibility, but we need to learn how the fiat dollar is losing value.
My Baby Boomer (older half the the Boomers) parents didn't help my Gen X butt for sh8t. My wife's Baby Boomer parents also didn't help us for sh8t. I started working nearly full time at 15, and by 18 I was full time (x2) and essentially taking care of myself. Not in this economy. In the 1990's economy, when we had the lowest adjusted for inflation wages since the Great Depression, all time high labor force participation rate crowding out the new participants, high interest rates, double the crime rates, and on and on. You can point fingers at a lot of people, but Gen X certainly did not start this, did not perpetuate this, and of any generation currently alive they have had it the worst by far. Today is a dream world compared to most of the 1980's and 1990's, and then we had Dot Com and GFC the following decade to get wrecked in...twice. Of anyone currently alive, Gen X feels the least entitled while at the same time they are the most deserving. The Great Wealth Transfer, which is going almost entirely to Gen X, is really just restitution. Gen X never thought they were getting that or any help at all from anyone.
Way to generalize! This Gen X got no help from my parents! I went into the Marine Corps and have lived life responsibly!
@@JubeeBijou THANK YOU!!! Thank you for your service.
@@jayneweaver8695 It was an honor! Thank you. 🇺🇸
Exactly correct you WILL make sacrifices …Amy plan is a slide in camper on a Tacoma and I’m semi retired ..Florida you can RV camp with all hookups at state campgrounds for like 250 a year for Florida residents and that’s not bad…Honestly you’re gonna have to live unconventional lifestyles..I’d say do my idea or become a van dweller etc and work,,live in the Van and save your money people are doing it..To keep up with the Jones’s ain’t gonna work to much longer..I know a guy was so worn down hustling up his money he fell off the wagon is in alcohol rehab and his wife is now a stripper..ado believe me it’s already crazy and getting crazier..She makes 6K in a weekend,,Men you better do what you gotta do
Happy B-day to your daughter. Wait a minute, ¿Wasn't it your wife's B-day last week?
😅😅😅 ❤🎉🎉🎉 just in July 4th!
Happiness to your family.
I'm probably going to anger some people, but those in their 50s are GenX and they are helping out their young adults with their children perhaps with more than one or two baby daddy mamas. They are actually raising their grandchildren as if they were their own. They are so desperate for their adult children to like them be their friends and appear virtuous to the world, they pay whatever it takes. We all know it costs a lot of money to raise a child. Even one will set you back hundreds of thousands of dollars over time until they reach 18. The deficit in money is a reflection of the deficit in their self-esteem. It's mind-boggling to me, and now there is more of an excuse because of the economy and high inflation. People should not be having children unless they can pay for them, and grandparents should not be taking over the role of parent. But this is what I'm seeing. GenX is going to be in financial trouble when it comes time to retire unless they have really good-paying jobs, which many do not.
I see grandparents paying for the grandchildren's educations. Also a lot of entitled free babysitting.
So, 75% are doing just fine? Sounds like a majority of people are doing well!
I think many still are doing well, at least they appear to be out spending money
We are gen X and taking care of two boomer parents now and have been for many years, doing everything we can to not to put our kids in that position. We are lucky to have good jobs we worked hard at to be able to help, but don’t want our kids to struggle like we did to help us, at least not monetarily…maybe drive me to the store when I can’t drive but not have to pay for my groceries.
Great input I appreciate you commenting. Yes, I agree a few things is fine, but I just don’t want to burden my kids.
My husband has been the man he should be and the man he promised to be❤️ he has prepared us from day one. I’m pretty sure he 💩out my diamond-he’s so frugal🤣. I thought you all could use a laugh.
Happy Bday to your daughter ❤
It sounds like things are starting to get serious
Afraid so.
People waste so much money and dont care I retired senior and when I mentioned to someone in my housing complex that I stopped buying
chi9cken salad at the store , they asked why,I mentioned that it cost 8- a week and that was 400 year. This person who had no savings looked in
amazement at me , duggbhh, lol. that's not how you should look at money , haha. you should just spend it !
Let your daughter know that I said happy birthday
Thank you 🙏
Is that a concrete hedgehog with an oversized nose?
It is. My wife loves hedgehogs
@@oxtalks Nice piece
Thanks ox stay cool❤
Id say depression
Why should we help people that purposely vote for policies that screw those still working 😂😂yeah right kick rocks gen x and boomers
While all the doom and gloomers predicted a crash , we stayed invested this past five years . All those who stayed invested have made a fortune with the stock markets at all time highs . As currency loses value expect markets to keep going north . Stay invested . He who dares wins . ❤
STOCKS WILL B GOING SOUTH SOON.
Well Lana , you are right , but not yet . It will be after the Election . If it crashes prior , the Dems lose .They know that , it will be kept propped up until then . ❤ And all those who had their money under their mattresses have missed out on doubling their money and lost out to inflation . Fact . Go ahead and look at the stock market graphs over past 5 years Remember this comment , as it was free. I wish you well .
Good luck next week!
GenX kind of sucks
🤬you.Survivors.What kind of useful skill do you offer?
I’m proud to be Gen X!
1 in 4 will need help financially?WHATTTTT!We are strong,know how to work,save and live off nothing.A piece of bologna a piece of bread,a garden hose,Bam,all good.😂GenX are toughest by far.I think your info is a bit off.GenX are survivors!!!!!!!😊
That’s great, Susan! just sharing an interesting article for thought
👍
Hey
Hi 👋
First❤😂
👋👋
It's like you're almost shouting at me. Would you please just deliver your message in a more relaxed natural fashion?
Like relax already. You sound like a stiff drill sergeant.
Lol I think I was talking louder because of the fountain in the backdrop. That being said I do have an assertive delivery style. If it does not work for you there are lots of other channels to watch. 👍
@@oxtalks Oh, it's the fountain. LOL
Why waste water with a water fountain? Water scarce in Palm Desert and Coachella Valley.
I believe the water just recirculates. Funny I rarely turn it on but thought it would be nice for the background.