Relief checks for families.......

[Son of Butch]

the young today have the same ability to build wealth in their lifetime as what the older generation did when they were young.

I disagree.
We don't know that as it is still future and there is a difference between ability
and opportunity.

Example:
2 individuals of same ability born 40 yrs apart 1 in 1890 the other 1930.

Born in 1890 turned 20 in 1910 = twenty years of prosperous wealth building opportunity, only to have it wiped out when they turn 40 in 1930 and the great depression.

Born in 1930 turned 20 in 1950 = 20 yrs of prosperous wealth building opportunities and when they 40 in 1970 it was followed by another 25 years of prosperity and retiring at age 65 in 1995 on a fixed income. (Fixed income = Guaranteed income)

IF they listened to your financial consultant and got out of stocks at age 65 in 1995 they missed out on 12 yrs of financial growth to age 77 even then when market tumbled in 2008 the 12 years of gains shielded them and they were still better off than had they been out of the market. The market rebounded and at age 90 in 2020 they were sitting pretty.

In Life Timing Is Everything and who knows what tomorrow will bring.
But everything I've read predicts this generation will have a lower standard of living than their parents and grandparents.

 

[JParrott]

I have a couple of siblings in the tech sector, and they're now on permanent work from home. No set hours outside of some scheduled meetings. As long as they're available by phone during the day and the work is getting done, nobody cares if they're on the golf course or out fishing.

I don't see anything wrong with this. Matter of fact, I think it's a step in the right direction.

 

[Mrcopier]

I don't know all the details about that deal but it looks like a lot of folks are going to be getting a lot more free money. I reckon that families already receiving food stamps wic vouchers etc, and Medicaid for multiple children will get this program on top of all that. I know of a lot of folks that already won't work at anything or just have a job with no upward mobility because they can't afford to loose the already existing benefits which ultimately keep them from making a better life for themselves and family.

It's called the plantation

 

[Son of Butch]

What about the older people who rented their entire life and own nothing?

My FIRST statement of what you quoted says inflation is hardest on those who own nothing.
Of course the young have the advantages of health, energy and youthful enthusiasm.

 

[Dsth]

IF they listened to your financial consultant and got out of stocks at age 65 in 1995 they missed out on 12 yrs of financial growth to age 77 even then when market tumbled in 2008 the 12 years of gains shielded them and they were still better off than had they been out of the market. The market rebounded and at age 90 in 2020 they were sitting pretty.

I don't think I said get out of the stock market but rather reduce your risk and invest in safer stocks and lower your percentage of high risk stocks.

 

[Dsth]

In Life Timing Is Everything and who knows what tomorrow will bring.
But everything I've read predicts this generation will have a lower standard of living than their parents and grandparents.

I agree with this statement. younger generation seems to have a much different work ethic and sense of pride in a job well done than the older generation had at their age. fortunately not all have that attitude but I would say a larger percentage. Seemed like my generation couldn't wait to turn 18, get out of the house, and make a positive impact on our society. now a majority seem perfectly happy to live at home and let mommy and daddy take care of them while they spend the day on social media or play their video games for hours on end. Oh yes, also collect their free goverment check.

 

[Chevy]

Unfortunately it is not a joke, it was an unintended consequence of LBJ's great society program of war on childhood poverty. LBJ meant well (bless his heart) but the rules to collect the welfare payments resulted in the historic decline of marriage of African Americans which continues to this day.
I believe it affected the decline in marriages of all in the economic lower class, but statistically it is easiest to track in the marriage records of black Americans.

The government playing Big Daddy devalues traditional family values.
There are many well meaning folks in government today (bless their hearts)
but they are leading the Nation down the wrong path.

Your not kiddin' about that. Sad and depressing. Do people even know what family values are now days? I see so many people putting theirself before their families. Values what once was taught are going out the window taking over by social media and a me world. I don't mean no harm but if ya'll can't see it you need open your eyes. It's real sad.