The Rise of Silver Squatters: Generation In Crisis
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- Опубликовано: 3 янв 2025
- As Generation X inches closer to retirement, many are facing a financial reality they hadn't planned for. With insufficient savings and a lack of pension support, some Gen Xers are now looking to their families for help with housing and finances. This growing trend-dubbed 'Silver Squatters'-could reshape multigenerational living in America. In this video, we'll explore why so many in their 50s are underprepared for retirement, what this means for the future of housing, and how families are quietly stepping in to support. Join us as we dive deep into this emerging trend!
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I retired at age 53, so I am in my early 60s. Many of them resisted me because they couldn't understand the idea of not working if it wasn't necessary. I considered the phases of my life. I worked very hard to achieve what I have now, but in my last years, I owe it to myself to "stop and smell the roses." In my instance, I departed the nation after retiring and currently reside in Latin America. It made it possible for me to appreciate my new surroundings while escaping all the bad things that were going on in America. Nobody that I know of regrets retiring has yet to come to me
Nice way to retire. For me, I believe retirees who struggle to meet their basic needs are the ones who could not accumulate enough money during their active years to meet their needs. Retirement choices determine a lot of things. My wife and I both spent same number of years in the civil service, she invested through a wealth manager and myself through the 401k. We both still earning after our retirement fund has grown way more than it would have with just the 401(k). Haha
It's unfortunate most people don't have such information. I don't really blame people who panic. Lack of information can be a big hurdle. I've been making more than a million dollars by just investing through an advisor, and I don't have to do much work. Doesn't matter if the economy is misbehaving; great wealth managers will always make returns
I think this is something I should do, but I've been stalling for a long time now. I don't really know which firm to work with; I feel they are all the same but it seems you’ve got it all worked out with the firm you work with so i surely wouldn’t mind a recommendation
I definitely share your sentiment about these firms. Finding financial advisors like Joseph Nick Cahill who can assist you shape your portfolio would be a very creative option. There will be difficult times ahead, and prudent personal money management will be essential to navigating them
I have heard numerous stories of people earning up to $500k-$1m working with this particular real-time portfolio manager
Most elderly people have their homes. It's usually younger grown people, moving back in with parents.
Nothing wrong with multigenerational living, if you have healthy boundaries and family dynamics. I live with my adult son and partner; works well, and we all save money that we otherwise couldn’t in separate households.
100% agreed! 👍
I'm 57 and have been retired for 10 years. I kept most of my money outside of 401ks and instead used a brokerage account to generate wealth and just ate the taxes every year. But by keeping it out of the 401k system I could dip out early without the 10% penalty. The places I worked never had a match worth changing my mind. And thanks to the drunken sailors in government I've been living off the interest on tbills for the last 3 years. And yes, I will not make it to 75 since I'm a 40 yr smoker with no plans of quitting.
54 and retired at 50. I've been planning for retirement since I was 13. Now the government keeps raising taxes, forcing me to give them what has taken 40 years to acquire. When they talk about inflation , just change the word for government tax handing my work to so.eone else.
I'm 50. Thank God for my military pension and VA benefits.
Thank you for your service. It’s Good to thank God, but you owe no thanks to anyone else….. you earned your pension and benefits. Enjoy them
Agreed! 👍💯
54 and will be able to retire comfortably at 62 (assuming markets don't do a 1929). Been saving since my mid-20s. Bought a house late, but made up time in my 40s.
Wonderful 😊
On my own. I don't want my relatives near me. No debts and independent.
Everyone will have different situations to work through :)
Very few Boomers have a pension unless they worked for the government or military. Pensions were common for the Silent generation.
I would not buy a larger home to have a parent move in....larger mortgage.....when the parents are gone you are left with a larger mortgage and home than what you want. Maybe look at putting a portable wall around a dining room and adding movable stairs inside and out for the senior. There may be some grants to help with this. A discussion about what the parent(s) can contribute to the household will be important.
As a side note, I have seen that older people who stay in smaller homes seem to be able to live and die there ("feet first" as many seniors have told me) and I have seen older people who have, throughout the years, bought up and up, end up in a small rental in their latter years. I think staying in a small home helps financially. They also have something to pass on to their kids.
Good luck to us all ✨😊✨.
Agree. Everyone has their own unique situation to decide on.
I’m 58 and Gen-X (1966 YOB)
Good video
And it's because of real estate agents. Get rid of the NAR and allow home prices to depreciate.
Disagree. Good agents are an important partners in handling real estate.
You can't borrow yourself to wealth.
Save and keep investing!
Olga, thank you for the video, but...Not all Baby Boomers have a pension.....and the Jones Generation Baby Boomers (the second half of the Baby Boomers) had lots of recessions etc. headwinds to deal with....
So did everyone else, including younger generations today Millenials, Gen Y, X, Z. So....no one has had it easy, really. But Jones Generation have not had it cushy....and sometimes presenters on RUclips lump everyone together, incorrectly.
Good luck to us all ✨😊✨ and I wish you a nice day!
Agreed! What other topics would like me to explore?
I call BS. My pension is only $1061 a month and DOES NOT adjust for inflation, which means it becomes less valuable over time. I'm drawing over 3X as much from my 401K.
True.. sorry to hear, yet it's still income.
The majority of boomers do not have pensions. Pensions were common for the generation before but not for those born after 1945.
401k plans were introduced in 1978ish and that's when trouble began...
I'm 67 and left school at 14.5 years. I'm still working, and I take offence at you suggesting that your retirement plan is my problem. So Olga, what is your plan or do you complain?
I look forward to our next video.
Not complaining, analyzing the information and sharing my thoughts 🤔💭
As a smoker I'm not worried about the future since I won't be there 😂
And this is why the 30 years olds are choosing not to have kids.
And many are delaying getting married, having kids and buying homes.