Boomers Ending Up Homeless: This A Result Of A Mindset
Here is the article mentioned in the video:
https://finance.yahoo.com/news/unconscionable-baby-boomers-becoming-homeless-103000310.html
It is being reported that Boomers are ending up homeless at a rate not seen since the Great Depression.
In this video I discuss how this could happen and how the Boomers have been in control for much of the last 30 years. It was a generation that was bigger than any other and also came into prominence during the semiconductor era. This generation saw the greatest wealth generation in the history of the world.
▶️ 3Speak
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Yeah, but, as a nation we're cozying up to making homelessness illegal, and we have all those private prisons they built to move them into until we can ship them off to a nursing home. They should rejoice in getting to feed the beast they unleashed right to the bitter end.
Edit to add: Heh heh. 😁
Haha!
Yeah, I saw that article too. Sure, it’s just anecdotal, but none of the (mostly) boomer people I know have ended up homeless. My boomer wife and boomer me both have decent retirement accounts. Also $HIVE, $BTC, and silver.
And my son (Millennial) and stepkids (Millennial and Gen-Z) all have 401(k)’s and/or IRA’s.
I point my finger squarely at Nixon and Reagan for the bullshit trickle-down economics they duped the Boomers with. This homelessness certainly won't be an issue for the boomers in my life, but I can see how the situation was exacerbated by a generation that was taught to consume above all else.
Summary:
In this video, Task discusses his perspective on how the baby boomer generation has impacted the economy and financial stability, mainly in the United States. Task criticizes the spending habits, lack of financial planning, and poor decisions made by the baby boomer generation. He highlights how a significant portion of baby boomers are facing financial challenges, including homelessness. Task emphasizes the importance of financial education, smart decision-making, and planning for the future to avoid similar pitfalls.
Detailed Article:
Task starts the video by addressing the impact of the baby boomer generation on the economy, pointing out how their sheer population size and subsequent economic gains led to them holding power for the past few decades. He mentions prominent boomer figures in politics, noting the lack of generational shifts in leadership roles.
The discussion then delves into current issues faced by baby boomers, such as increasing homelessness rates compared to the Great Depression era. Task attributes this to poor financial planning and overspending by the generation, highlighting examples of irresponsible financial behaviors like using homes as ATM machines and instant gratification spending.
He contrasts the financial discipline of past generations, like the woman who accumulated wealth despite modest earnings, with the baby boomer mindset of spending lavishly and neglecting savings. He notes the missed opportunities for investment during the economic booms from the 1980s onwards, criticizing the lack of foresight in financial planning among baby boomers.
Task touches on the societal shifts towards materialism, instant gratification, and living beyond one's means, attributing these trends to the baby boomer mindset. He discusses the challenges faced by Gen X and Millennials, who have also followed similar patterns of overspending and lack of financial acumen.
Task suggests that individuals should take control of their financial futures, emphasizing the need for financial education, long-term planning, and avoiding dependency on financial advisors with potential vested interests. He provides examples of individuals who face financial struggles due to poor financial decisions despite earning well, underscoring the importance of personal financial responsibility.
The video concludes with Task advising viewers to learn about financial planning, avoid falling into similar financial traps as the baby boomer generation, and prioritize long-term financial stability over short-term indulgences.
Overall, the video provides a critical examination of the financial habits and challenges faced by the baby boomer generation and serves as a cautionary tale for viewers to prioritize financial education and responsible financial planning in order to secure their financial futures.
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