The Philadelphia Inquirer has published a series of articles on Generation X. I really enjoyed this series, but I don’t agree that we have to put the happy ending on hold. Nobody is going to tell me that I’m not going to have a happy ending. My happy ending is my choice and it is not contingent upon my job, my retirement account, how much money I make or don’t make or how much I owe or don’t owe on my mortgage.
Gen X and Retirement
On December 29, Maria Panaritis wrote Gen X and Retirement.
On December 30 she wrote about how Gen Xers make less than their fathers did (according to a study conducted by the Pew Charitable Trusts, which they called alarming.)
Here is an excerpt from that story:
“If you are a man born between 1964 and 1974, you were earning 12 percent less in 2004 than your father was when he was your age three decades earlier, according to a study by the Economic Mobility Project of the Pew Charitable Trusts.
Let’s attach a dollar figure to that — so that we truly register the generational grand larceny here.
Fathers were making $40,000 as thirtysomethings, compared to $35,000 for their Gen X sons. With help from an Inquirer colleague, I tabulated that Gen Xers lucky enough to continue making that meager $35,000 for the next 30 years without a single pay raise (but at a 2.2 percent annual inflation rate) will have pocketed $227,680 less than the dad who told them to believe in the American Dream.
And that was before the stock market crash of 2008.”
Finally, OETA recently aired a PBS special, which I’m sure has aired on many other public television stations across the nation. It’s called This Emotional Life. If you’re wondering how you can be happy, I highly recommend watching this. I really enjoyed the last segment, which aired last night. It featured a Wall Street investment analyst – a Gen Xer, of course – who lost his job and became a stay-at-home-dad for several months. He and his wife even live in an RV for awhile and traveled around the country. (I so wish I could do this!!)
Back in 2006, the L.A. Times wrote an article on Gen Xers hauling RVs out of the slow lane. This trend always makes me smile.