I am Gen-Xer and everything you said hit the nail. I have survived two recessions, three unemployment stages, underemployment and finally professionally employed but under paid. Son in college and taking care of aging parents. I am telling you it is not easy but we are surviving. Taking one day at a time.
Graduating college into the dot com bust in early 2000s, while starting out in career, getting married, buying home then the 2008 Great Recession and housing bust, it was a really rough decade. Now still raising kids at home, with parents getting older may need help in coming years, this generation’s burden is heavy. But even with all of the obstacles and burdens, with boomers retiring in the coming years, we are the group that are working hard to step up and fill the gap. Oh, don’t forget, we are the latch key generation who stayed home alone after school.
I am a GenX and really struggled with consumer debt. I had employment throughout the multiple economic downturns, but not secure, stable employment. As a result, I developed a habit of using credit cards, and the debt slowly mounted over the years. That time period was very stressful, and it seemed an impossible situation to resolve. I am debtfree as of this year (Thanks to youtubers like you!), and a big part of being successful was believing that I could do it. As a parent, I think that it is crucial that we teach our children about managing finances and about avoiding debt. There is no need for people to experience the stress of being overwhelmed with debt, and hopefully, the next generation will realize that and live accordingly.
Gen X here (45). Own my house and paid off 2 rentals. Been working since 15. Most of my millennial neighbors have crappy jobs or rent most of my homes in my neighborhood. Most Gen X people I know have great jobs and incomes.
I am generation X and I agree I see many of my peers that have a lot of consumer debt. I was a teenager in the 1980's when conspicuous consumption was in, I wonder if that negatively affected my generation. When I graduated from college in 1994 there were few full time jobs in my field. I worked 2-3 jobs for years to make full-time hours. My husband has been laid off 4 times in our 28 years of marriage. Because we know the unexpected can happen, my husband and I have been fairly careful, always saved and made paying off debt a priority. We drive old, paid off cars (9 and 12 years old). We paid off our mortgage 4 years ago. Ninety percent of my similar aged friends still have a mortgage and car payments.
I’m a genX, my wife and I had issues finding jobs after college with 9/11. We didn’t make much money for the first 10 years or so of our careers. If it wasn’t for that, we’d be pretty good right now.
Getting out of consumer debt is the best thing I’ve ever done. It’s allowed me to put my income to work for me. Actively investing and paying down the mortgage while still enjoying life. Live on less than you make, write a monthly budget, and don’t fall prey to lifestyle increase as you begin to earn more. While I was getting out of debt I sought all the extra side hustles I could. From picking up dog poop at a local apartment community to cleaning new construction homes to painting or grabbing any and all OT. I made well above $20 an hour at my side hustles. I’m starting a job cleaning offices at night this week. It does not pay as well as all other side jobs Ive had but with COVID I like that I’ll be alone in the office as to not expose myself. “Whether you think you can, or you think you can’t-you are right.” Henry Ford
It was the excessive 80's, excessive.. 1980's. Age of the shopping mall, credit cards, Money burning a hole in your pocket. Jordache jeans were like $80-90 a pair, reebok high tops over $100.00, z-cavarcci's were outrageously expensive! Gold chains, leather jackets, scrunchie socks, hair spray! We looked GOOD! :-) Now we spend our money on bonds, silver, gold and while not complete debt free its all under $3k.. That's what's UP! lol
I am on the older side of generation X. I am debt free. So I guess I do not relate. But we graduated college in a recession. It was hard in the beginning but most generation X peers have done well for themselves. I think I they have more debt due to the phase they are in their lives. They are raising kids and preparing to send their kids to college. It will interesting to see how milennials will do at this stage.
I think on the flip side, millennials and Gen Z are going to have an uphill climb. Not only do more recent generations have tons of student debt, their incomes are stagnated. Worse, housing costs are costing more. And now we are facing economic collapse. I think GenX, millennials, and GenZ all have unique challenges ahead of them.
I and my hubs fit every single stat you shared. We didn't face our terrible financial situation until we were literally forced to in 2018. Thank you so much for sharing this info!!
Becoming Debt Free is the game changer for living a big life! It's not how much money you make, it's how much you keep and what you do with it! Great video!
Wow I’m part of gen x myself and I can say I don’t have a huge debt to worry about lol and I have been pretty lucky to have been able to work while all this has been going on I thank my lucky star for that😁
Yes. I was born in 1979. I took an online quiz once and my life experiences are totally aligned with Millennials and not GenX. I feel like I am more accurately an "old millennial" lol.
@Lissa k There is an official title for us 'older' Millenials. Google 'xennials' and you should find the relevant research. I think you'll find it interesting and helpful.
Yes, yes, and yes! I'm an Xer, and can pretty much relate to all you covered👍🏼 This is a big reason I follow your channel, so thanks for the inspiration😊
Lol I found the way you talked about this issue refreshing. 🤩 Although the issue is a big problem smfh🤦🏾 And thanks for the solution ideas🙌🏾🙏🏾🧘🏾🌅 #nevertolate
Gen X also has the most potential to gain money in the stock market and real estate... But how many of them actually invest their money? What was the awareness of investing at that time?
🤔 My family taught me to invest at a young age, and I had a couple of teachers educate me about mutual funds, index funds, stocks, etc. This was the mid 90’s while in high school. We’re not that old to not have had any awareness about investments.
In the UK I easily got on the property ladder at 18 with a 100% mortgage. I've no debt at 50. Might be different in America but in the UK I think we are doing fine.
I just read an article from The Washington Post stating millennials are the worst off financially. I’m a Gen Xer and I think it depends on how well a person can manage money and handle debt. I have zero debt and I’m managing my money very well. There are some unlucky Gen Xers and some unlucky millennials.
My mother persuaded me to invest in the stock market when the prices were dirt cheap. I'm not touching it until retirement age so I can have money to retire. That's another way to get money for your retirement. I'm going to do everything to get money for my retirement.
But I don't plan to retire until I'm physically unable. And I went back to college to enable me to get a profession. I got my undergrad degrees in the early 2000s.
There are also different opinions on who is a Gen Xer. Many think anyone born before 1970 is actually still a later Boomer. I would agree with that. Gen X and Millenials have had a different work landscape than Boomers and have seen costs of basics like housing skyrocket. Student loan debt is huge with both of those generations.
You also have the Xennials born between 1977 and 1983, this is small generation that is right betwwen the two generations. Being born at the end of 1980, I in no way see myself as a Gen X. I got Internet at home in my teenhoods, early on I realised my life wouldn't as easy as the older guys. On the other end I share many characteristics with millenials, settling down is not the ultimate goal, travelling is, I got my kids pretty late and am finally buying a house at age 40.
I'm 1979. But I feel more like a millennial. And because I'm so close. I have all the housing and wage difficulty as them. I think there's a huge difference between gex born before 1975 and those after.
The 2023 recession and credit crisis was the guillotine for middle class Gen X it’s over for them plus a lot of them are 55 still wanting to purchase their dream home in this economic climate game over
Hi Dana! Just so you know the Harry Potter editions behind you are 1st United States editions, hold on to them, they may be worth something soon (already most are)
Yay! A video for those of us that people don’t even know exist! 😂 My kids like to call me “Boomer” but I’m not. Many don’t realize that there is a generation between Baby Boomers and Millennials. And the youngest of the Boomers (1960-1964) don’t really fit in with those born in the 40’s and 50’s. The category is too expansive; a 20 year period where the other generations are no more than 14 years. I’m the oldest of Gen X so I don’t really fit in there either. 😀
Wow! I'm Gen-X, don't own a home (or much else) but have no debt. I thought most Gen-Xers were doing better. Now I've read the comments I realise I belong to a Gen of complete Arses, the sort that come on vids for people with problems so they can gloat about how much money they have. I genuinely hadn't realised. The Milenials sound so much more mature and, ya know, human.
What you said is true looking after ageing parents millennial children live with me plus there children plus i have a 12 yr old and 9 yr old and we are in debt hopeing to sell the house soon to get out of debt 🙂
why are the GenXr's taking care of the millennials and Gen-Z. when I was 18, my father said, "You're a man now, it's time to get a job and grow up." why are Gen Z and millenials being coddeled? it used to be when you were in your early 20's you were an adult. you started having children and a full-time job.
Agree, graduated from college early 2000's. Fought like hell in the investment world for 8 yr. Working 100 hr weeks with 3 jobs. I think the benefit with being so close to X and Millennials grouping is that 75 to 85 will succeed by far once they look back.
Wow not surprised at this. While us Millennials are in the news about student loans. I feel like for most of us this is our only debt. I think we also have the advantage of getting knowledge young and not getting into house debt or buying cars. I think we also better at saving. When I listen to Dave Ramsey, it seems like the older Gen X and Baby Boomers always suffer from having spending issues. I never hear Millennials have issues with spending, more so our issue is student loans, making good income, and finding affordable housing. I do not feel like we our hooked on credit cards like the older gen. But its not surprising because Gen X is the last of the generation to have all debts combing house, car , and loans.
If you are going to talk about Generation X please don’t compare it with others generations to make them look worse than the others. I myself am Gen X and I grew up in another society (not USA) but I have lived long enough in this country to tell you that Gen X in both societies have been ignored (to say the least) on purpose like a middle child. Boomers and millennials are not better than Gen X, neither financially nor personally. So I can not relate with your comparison.
This news is surprising to hear. I’ve heard Gen X had it better because they grew up in the roaring 80s and 90s when the economy was great as oppose to millennials who came of age in the turn of the century when the economy was wrecked from a slowing economy, war, and the Great Recession. Is it that Gen X are bad with money management and squandered their opportunities?
I’m a millennial, I’m 23, and my husband is 26, we have 3 children, soon to be four, and my husband and I will have over a million dollars before we’re 40. And multi millionaires by the time we’re 45. Yay to being financially smart!!☺️ My parents were both born in 1970, and are both heavily in debt and probably won’t have much when they retire, so I’m trying to change that for our family tree so that way nobody in my family will ever have to financially suffer during old age, or anytime.💓
This gen x girl just paid off her $17823 credit card debt 5/25 my best birthday ever! 🎉💞😁
Awesome!
You go girl!
I am Gen-Xer and everything you said hit the nail. I have survived two recessions, three unemployment stages, underemployment and finally professionally employed but under paid. Son in college and taking care of aging parents. I am telling you it is not easy but we are surviving. Taking one day at a time.
Graduating college into the dot com bust in early 2000s, while starting out in career, getting married, buying home then the 2008 Great Recession and housing bust, it was a really rough decade. Now still raising kids at home, with parents getting older may need help in coming years, this generation’s burden is heavy. But even with all of the obstacles and burdens, with boomers retiring in the coming years, we are the group that are working hard to step up and fill the gap. Oh, don’t forget, we are the latch key generation who stayed home alone after school.
I am a GenX and really struggled with consumer debt. I had employment throughout the multiple economic downturns, but not secure, stable employment. As a result, I developed a habit of using credit cards, and the debt slowly mounted over the years. That time period was very stressful, and it seemed an impossible situation to resolve. I am debtfree as of this year (Thanks to youtubers like you!), and a big part of being successful was believing that I could do it. As a parent, I think that it is crucial that we teach our children about managing finances and about avoiding debt. There is no need for people to experience the stress of being overwhelmed with debt, and hopefully, the next generation will realize that and live accordingly.
Gen X here (45). Own my house and paid off 2 rentals. Been working since 15. Most of my millennial neighbors have crappy jobs or rent most of my homes in my neighborhood. Most Gen X people I know have great jobs and incomes.
GenXer here. Net worth of over 4 million and zero debt. Some of us were at the forefront of Silicon Valley and invested early. We’re doing just fine.
Come on Get X Generation, we Millennials are rooting for you! Let's get rid of this debt!
You are being saddled with lifetime debt the feds latest bailouts. It’s disgraceful
I think we can learn a lot from millennials-they are making money online. We should follow suit.
@MTOAB, we Generation X’ers are going to square away our nations debt 🇺🇸 Don’t worry I’m on it.
An entire generation of losers..who'd have thought.
*Setting up a plan to get out of debt and increasing your networth is key.*
*~ a Gen Xer*
I am part of Gen X and I have no debt!
@anonymous reviewer She’s quoting an article through the entire video, did you even watch ?
I am generation X and I agree I see many of my peers that have a lot of consumer debt. I was a teenager in the 1980's when conspicuous consumption was in, I wonder if that negatively affected my generation.
When I graduated from college in 1994 there were few full time jobs in my field. I worked 2-3 jobs for years to make full-time hours. My husband has been laid off 4 times in our 28 years of marriage. Because we know the unexpected can happen, my husband and I have been fairly careful, always saved and made paying off debt a priority. We drive old, paid off cars (9 and 12 years old). We paid off our mortgage 4 years ago. Ninety percent of my similar aged friends still have a mortgage and car payments.
I’m a genX, my wife and I had issues finding jobs after college with 9/11. We didn’t make much money for the first 10 years or so of our careers. If it wasn’t for that, we’d be pretty good right now.
Same, bro. It was hard to advance with the Boomers refusing to retire for decades.
Getting out of consumer debt is the best thing I’ve ever done. It’s allowed me to put my income to work for me. Actively investing and paying down the mortgage while still enjoying life. Live on less than you make, write a monthly budget, and don’t fall prey to lifestyle increase as you begin to earn more. While I was getting out of debt I sought all the extra side hustles I could. From picking up dog poop at a local apartment community to cleaning new construction homes to painting or grabbing any and all OT. I made well above $20 an hour at my side hustles. I’m starting a job cleaning offices at night this week. It does not pay as well as all other side jobs Ive had but with COVID I like that I’ll be alone in the office as to not expose myself. “Whether you think you can, or you think you can’t-you are right.” Henry Ford
Good luck Brian!
It was the excessive 80's, excessive.. 1980's. Age of the shopping mall, credit cards, Money burning a hole in your pocket. Jordache jeans were like $80-90 a pair, reebok high tops over $100.00, z-cavarcci's were outrageously expensive! Gold chains, leather jackets, scrunchie socks, hair spray! We looked GOOD! :-) Now we spend our money on bonds, silver, gold and while not complete debt free its all under $3k.. That's what's UP! lol
I am on the older side of generation X. I am debt free. So I guess I do not relate. But we graduated college in a recession. It was hard in the beginning but most generation X peers have done well for themselves. I think I they have more debt due to the phase they are in their lives. They are raising kids and preparing to send their kids to college. It will interesting to see how milennials will do at this stage.
Gen X here. Worth 4 million here.
Same. Zero debt. Well balanced portfolio so not worried.
I can relate to this topic a lot more than I wish I did!
We are generation X and have zero debt. We own our house, but we had to work very hard because of all the financial problems.
I think on the flip side, millennials and Gen Z are going to have an uphill climb. Not only do more recent generations have tons of student debt, their incomes are stagnated. Worse, housing costs are costing more. And now we are facing economic collapse. I think GenX, millennials, and GenZ all have unique challenges ahead of them.
I and my hubs fit every single stat you shared. We didn't face our terrible financial situation until we were literally forced to in 2018. Thank you so much for sharing this info!!
I’m a gen-xer 52 The money didn’t come till the last 5years.my advice to others is adapt and overcome with hard work any thing is possible.
Becoming Debt Free is the game changer for living a big life! It's not how much money you make, it's how much you keep and what you do with it! Great video!
Wow I’m part of gen x myself and I can say I don’t have a huge debt to worry about lol and I have been pretty lucky to have been able to work while all this has been going on I thank my lucky star for that😁
Well done!
Same here and had an online side hustle, that I was making a killing off of.
Yes. I was born in 1979. I took an online quiz once and my life experiences are totally aligned with Millennials and not GenX. I feel like I am more accurately an "old millennial" lol.
@Lissa k
There is an official title for us 'older' Millenials. Google 'xennials' and you should find the relevant research. I think you'll find it interesting and helpful.
@@sewhip great info! I did not know that. I will be looking into that. Thanks for sharing because I’m more in alignment with millennials as well.
Me too! I’m born in 1978! I feel like an old millennial
Yes, yes, and yes! I'm an Xer, and can pretty much relate to all you covered👍🏼 This is a big reason I follow your channel, so thanks for the inspiration😊
Great video, love the topic
Lol
I found the way you talked about this issue refreshing. 🤩
Although the issue is a big problem smfh🤦🏾
And thanks for the solution ideas🙌🏾🙏🏾🧘🏾🌅 #nevertolate
They are only better off financially, not in any other way!
Gen X also has the most potential to gain money in the stock market and real estate...
But how many of them actually invest their money? What was the awareness of investing at that time?
Awareness of investing at that time? GenX were in their 20-30's in the 2000's and 2010's lol. This is not exactly ancient history 😂
🤔 My family taught me to invest at a young age, and I had a couple of teachers educate me about mutual funds, index funds, stocks, etc. This was the mid 90’s while in high school. We’re not that old to not have had any awareness about investments.
In the UK I easily got on the property ladder at 18 with a 100% mortgage. I've no debt at 50. Might be different in America but in the UK I think we are doing fine.
GEN X… never been to Starbucks! Used All that cash and paid off all my homes! No avocado toast either!
Are you kidding? Look at what the FED is doing....generations to come are screwed
The election is in November.
Exactly
Breadcrumbs to the public and helping themselves at will!
Makes it all the more important to get your personal finance house in order!
I'm genX my company failed now I'm homeless living in a desert , living it tbh no bills no bs just hunting and surviving.
I just read an article from The Washington Post stating millennials are the worst off financially. I’m a Gen Xer and I think it depends on how well a person can manage money and handle debt. I have zero debt and I’m managing my money very well. There are some unlucky Gen Xers and some unlucky millennials.
My mother persuaded me to invest in the stock market when the prices were dirt cheap. I'm not touching it until retirement age so I can have money to retire. That's another way to get money for your retirement. I'm going to do everything to get money for my retirement.
But I don't plan to retire until I'm physically unable. And I went back to college to enable me to get a profession. I got my undergrad degrees in the early 2000s.
There are also different opinions on who is a Gen Xer. Many think anyone born before 1970 is actually still a later Boomer. I would agree with that. Gen X and Millenials have had a different work landscape than Boomers and have seen costs of basics like housing skyrocket. Student loan debt is huge with both of those generations.
You also have the Xennials born between 1977 and 1983, this is small generation that is right betwwen the two generations. Being born at the end of 1980, I in no way see myself as a Gen X. I got Internet at home in my teenhoods, early on I realised my life wouldn't as easy as the older guys. On the other end I share many characteristics with millenials, settling down is not the ultimate goal, travelling is, I got my kids pretty late and am finally buying a house at age 40.
GenX, in debt, chronic illnesses, no job, caring for aging parent. Living the dream I am, woohoo...
I'm 1979. But I feel more like a millennial. And because I'm so close. I have all the housing and wage difficulty as them. I think there's a huge difference between gex born before 1975 and those after.
The 2023 recession and credit crisis was the guillotine for middle class Gen X it’s over for them plus a lot of them are 55 still wanting to purchase their dream home in this economic climate game over
it seems like the boomers really lived the American dream and we were lucky to even find a job.
You are absolutely amazing
Hi Dana! Just so you know the Harry Potter editions behind you are 1st United States editions, hold on to them, they may be worth something soon (already most are)
Yay! A video for those of us that people don’t even know exist! 😂 My kids like to call me “Boomer” but I’m not. Many don’t realize that there is a generation between Baby Boomers and Millennials. And the youngest of the Boomers (1960-1964) don’t really fit in with those born in the 40’s and 50’s. The category is too expansive; a 20 year period where the other generations are no more than 14 years. I’m the oldest of Gen X so I don’t really fit in there either. 😀
I'm generation X with a generation z child. We skipped a generation !
Wow! I'm Gen-X, don't own a home (or much else) but have no debt. I thought most Gen-Xers were doing better. Now I've read the comments I realise I belong to a Gen of complete Arses, the sort that come on vids for people with problems so they can gloat about how much money they have. I genuinely hadn't realised. The Milenials sound so much more mature and, ya know, human.
we graduated into the internet crash, then 2008
What you said is true looking after ageing parents millennial children live with me plus there children plus i have a 12 yr old and 9 yr old and we are in debt hopeing to sell the house soon to get out of debt 🙂
I’m a millennial. SHTF when student loans became a burden for me, luckily I can focus on other things while I stay afloat off my savings.
we are the sandwich generation just like any generation.
why are the GenXr's taking care of the millennials and Gen-Z. when I was 18, my father said, "You're a man now, it's time to get a job and grow up."
why are Gen Z and millenials being coddeled? it used to be when you were in your early 20's you were an adult. you started having children and a full-time job.
They paid for their kids college…. Look at the years… when their kids are 18-22
Most men my age 45 are divorced # Wrecked
Nothing new, Genx raised themselves
Oh Lawd, this didn't age well.
Agree, graduated from college early 2000's. Fought like hell in the investment world for 8 yr. Working 100 hr weeks with 3 jobs. I think the benefit with being so close to X and Millennials grouping is that 75 to 85 will succeed by far once they look back.
Wow not surprised at this. While us Millennials are in the news about student loans. I feel like for most of us this is our only debt. I think we also have the advantage of getting knowledge young and not getting into house debt or buying cars. I think we also better at saving. When I listen to Dave Ramsey, it seems like the older Gen X and Baby Boomers always suffer from having spending issues. I never hear Millennials have issues with spending, more so our issue is student loans, making good income, and finding affordable housing. I do not feel like we our hooked on credit cards like the older gen. But its not surprising because Gen X is the last of the generation to have all debts combing house, car , and loans.
Yeah, I don’t think that’s the issue with the younger Gen Xers, such as myself.
That does not help because there going to be 50 years old,witch for most of them is going to be hard!
MENTIDAS
GenX here, we don't care.
If you are going to talk about Generation X please don’t compare it with others generations to make them look worse than the others. I myself am Gen X and I grew up in another society (not USA) but I have lived long enough in this country to tell you that Gen X in both societies have been ignored (to say the least) on purpose like a middle child. Boomers and millennials are not better than Gen X, neither financially nor personally. So I can not relate with your comparison.
Agree... Born in 65...
Debt free. We dealt with our demons. I disagree with this video.
Let me see. We take the burden of Boomer parents and Zoomer kids.
This news is surprising to hear. I’ve heard Gen X had it better because they grew up in the roaring 80s and 90s when the economy was great as oppose to millennials who came of age in the turn of the century when the economy was wrecked from a slowing economy, war, and the Great Recession. Is it that Gen X are bad with money management and squandered their opportunities?
What difference does it make to grow up in good economic times if there is a big recession right when you start working as an adult?
the 90s were not all great and booming and then there was the dot com bust in early 2000s
We are going pretend we are better than you.
Wow...so many generalizations. 😒
I’m a millennial, I’m 23, and my husband is 26, we have 3 children, soon to be four, and my husband and I will have over a million dollars before we’re 40. And multi millionaires by the time we’re 45. Yay to being financially smart!!☺️
My parents were both born in 1970, and are both heavily in debt and probably won’t have much when they retire, so I’m trying to change that for our family tree so that way nobody in my family will ever have to financially suffer during old age, or anytime.💓
Wow! What are you doing?
Multi millionaires? How?
Felicia Hayes I feel like I'm about to be pitched a MLM scheme.
All that money yet a mice infested sofa