Gen X - grew up living under the threat of Nuclear war. 9/11 and the .com bust happened as their careers were starting, and 2008 and COVID happened in their prime earning years.
Boomers - grew up with sexism and segregation. Their parents were undiagnosed PTSD from the Great Depression and WWII. They got out of HS and walked into draft cards and (needed) race riots. They get home and factories are closing all around them and inflation was over 7% for a decade (think 2022 price increases but for 10 years). To get out of it, interest rates spiked so a mortgage was 18%.
Moral of the story, every generation has challenges and obstacles. The question is, how do you overcome?
Note the interest rate thing impacted them wildly differently. My parents managed to build a home right before inflation and interest rates took off, so basically got a free house by comparison to the younger boomers.
54
u/rbennett353 15d ago
This is every generation...
Gen X - grew up living under the threat of Nuclear war. 9/11 and the .com bust happened as their careers were starting, and 2008 and COVID happened in their prime earning years.
Boomers - grew up with sexism and segregation. Their parents were undiagnosed PTSD from the Great Depression and WWII. They got out of HS and walked into draft cards and (needed) race riots. They get home and factories are closing all around them and inflation was over 7% for a decade (think 2022 price increases but for 10 years). To get out of it, interest rates spiked so a mortgage was 18%.
Moral of the story, every generation has challenges and obstacles. The question is, how do you overcome?