Son of Butch
Well-known member
I disagree.the young today have the same ability to build wealth in their lifetime as what the older generation did when they were young.
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.
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