Make way for non-retirees

[Larissa]

Interesting quote on p. 3 of a recent assessment of the economy:

"Older Americans are actually gaining jobs, even as other age groups lose them. This is because skilled, older Americans who should be enjoying their Golden Years, are now being forced to return to the labor market due to the wealth destruction that has occurred in the value of their homes and retirment plans which were supposed to fund their lifestyles. This event of Generations X and Y, seeing their Baby Boomer parents and grandparents go back to work will have a profound effect on the US Consumer’s Psyche for years to come."

[Kate Nonymous]

It'll be interesting to see, Larissa. I know that the Baby Boomer in the office next to me once asked why so many Gen Xers were pessimistic. I said, "Why wouldn't we be?" and followed up with this:

First political experience: Watergate
Dawning of sexual experience: AIDS
First chance at a job: recession and unemployment
First chance at investing: dot-com bust

Whereas he and his friends got the idealized Kennedy, the Summer of Love and the sexual revolution, the 80s (yes, I know about the 70s, I was there, too), etc.

He sort of gets it now, but then again he's got more life experience than a 20-something (or early 30-something). I think that life experience is the only thing that really can bring this topic home.

[Larissa]

Will Gen Y start to see our point of view? How long before they start to feel the impact of recession and put 2 and 2 together, instead of being condescending to us and dismissing us as having a 'bad attitude'? I still cannot believe the damage that was done to us by labeling us 'slackers' when we graduated into a recession, and now are getting hit by one again. I would like to see if it is possible to reach out to and cooperate with Gen Y on these matters as their sense of entitlement diminishes.

[Kate Nonymous]

This is why I've been saving for retirement since the moment I started working full-time, and why Mr. Nonymous and I bought a house within our means and try to keep our expenses down--because we want to be able to retire when we're ready and maintain our lifestyle without worrying about it. We don't ski, we snowshoe. We don't eat in expensive restaurants unless it's a gift or a really special occasion. We buy clothes on sale and travel off-season. The result? We're not missing anything--unless you count credit-card debt and crowds. But then both of us are the children of Depression-era babies, not Boomers, so maybe our influences are different.