Why Gen X is the real loser generation Don’t cry for millennials or Gen Z. Save your pity for those in their 50s

— @daily-reads-TheEconomist on mastodon via Daily Reads

I am a Gen Xer, and I do not consider myself part of a loser generation.

I do think my generation came up during a time when the family was under assault from companies, the economy, and a culture that made it harder and harder for one parent to stay home. I know my mother and father resisted that pressure for as long as they could.

My mother was a stay-at-home mother for most of my childhood, and I am grateful for that. I also get to spend time with her now in her 70s, and I appreciate every bit of that time. My father worked and was the primary breadwinner for our household.

But after I graduated, my parents took on two more mouths to feed. My aunt on my mom’s side died young, and her two kids, my cousins, were being raised by my maternal grandmother. When my grandmother died, my parents took over raising them. That, along with other factors, eventually led to my mom entering the workforce.

So no, I do not think of Gen X as a loser generation.

We saw the birth of some amazing things, and we helped bring some great inventions into the world that today’s generations benefit from. I guess every generation can claim that in some way, but we were there for the rise of the personal computer, mobile phones, the internet, and so much more.

The things I do think Gen X lost out on were more serious. We saw the rise of latchkey kids. We saw families stretched thinner. And now, many of us are facing a retirement system that is much less secure than the one our parents expected.

We will probably have to work longer. We have less retirement security because corporate pensions largely disappeared and were replaced by 401(k) plans that many employers under-fund. The responsibility shifted from companies to workers, and a lot of people were not prepared for that. Social Security in a death spiraled only expected to pay full benefits until 2033 right when I will be drawing on it.

The article argues that Gen X has had slower income growth than other generations at similar ages, and I believe that. Even now, I am making the most money I have ever made, yet it still does not feel like enough. My spending is not up. In fact, it is down. But the cost of everything keeps climbing, and it feels like we are always trying to catch up.

So while I do not think my generation, or my siblings’ generation, are losers, I do think we have been more disadvantaged than people realize.

Gen X is not the loser generation.

We are a disadvantaged generation that has not been given the respect it deserves.

And there is a big difference.

#family #opinion #retirement

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“Corfu, The Beauty of Cape Drastis” by Maria Rosaria Sannino, CC BY-NC-SA 2.0. Envisioning retirement as serene as this secluded coastal paradise, where every day feels like a vacation.

I was reading my RSS reader BazQux the other day and came across a post by rscottjones about retirement planning. With approximately 8 years until my own retirement, I've started planning too. I found his approach very interesting.

I like reading what other people are thinking and comparing ideas. Since he shared his and his wife's general plans, I thought I'd share mine to help organize my own thinking.

My situation is different from his. It's just me, and I'm helping my elderly parents right now. I'll probably stay where I am for the foreseeable future. Once they're both gone, though, I'll need to reassess. I'm not particularly close to my brother or sister, or to my nieces and nephews (though that's not for lack of trying on my part).

Part of me would love to move somewhere less hot, humid, and hurricane-prone. But another part wants to stay in Florida. Contrary to popular belief, Florida is very expensive. Yes, the weather is good most of the time, but the costs add up quickly. Health insurance, home insurance, and car insurance are all expensive here.

If I could afford it and had the energy, I'd explore living abroad. My dream list includes Malta, Corfu, Crete, England (particularly St. Ives and the southern coast), Brazil, Hawaii, Uruguay, Argentina, or the Azores. Most of these are unrealistic due to language barriers or cost. England might be possible despite the expense, since there's no language barrier.

Realistically, I'll probably move within Florida to a villa or condo, though I haven't decided on a location yet. Given my medical conditions, staying where I am (just downsizing to a villa or condo) makes the most sense.

I do have travel plans, though. I had a passport but let it expire. I've never been out of the country, and I want to change that. I'd like to visit those countries I mentioned, plus Poland and Israel.

If I did leave Florida, I've been looking at staying on the East Coast. I've thought seriously about West Virginia, Virginia, or Delaware. Within Florida, my top choices would be Gainesville, Ocala, Orlando/Celebration, or Sebring.

In any event, unless something drastic changes, I plan to stay independent. I don't want to go to an independent or assisted living facility. I'm striving to make sure that whatever I choose, I'll be debt-free and settled. I plan on keeping busy with several things I enjoy, especially the homelab stuff. I want my Plex server completed except for new titles, and the rest of my major digital projects finished so I can just maintain things and experiment with new ideas. That way when I get back from travels, I can upload all those wonderful memories.

What's up first on my international travel plans? I think it will be Corfu. Ever since watching the series The Durrells, I've wanted to go there.

Wherever I end up living, it needs to be ready so I can age in place. I definitely won't be relying on family once my parents are gone. So while my plans aren't as concrete and in motion as RScottJones's, I do have an outline and some concepts that need firming up. Having read his post, at least now I know I'm thinking about the right questions.

#personal #travel #retirement

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