>Boomer parents
>Disinherited aristocrat grandparent on one side (he married a non-catholic)
>They get decent jobs with a high degree of stability and pensions
>They save thriftily, but cannot into personal finance beyond that
>Never invested until the late 90's
>Lost over half their wealth to inflation over the course of their lives
>Opportunity cost was 6-7 figures
>Still wound up home owners in a nice suburb worth six figures
>Still wound up with over $300k+ in investments and savings
>Missed numerous chances to swoop down on highly profitable investments without much associated risk thanks to insider connections (military, bank, government)
>Passed on them in spite of protected status making them low risk to reward ratio
>Had they been even moderately financially literate they'd own assets worth several million instead of half a million in total
Getting rich for their generation was, in fact, easy mode. I believe that as a consequence the easy, seemingly risk free flow of money for them through their incomes made them intellectually lazy and needlessly risk averse in their portfolio to the point that it crippled them. Any similar stories?
>Family of teachers in Slav shithole
>Parents have LITERALLY memay degrees
>All poor
>Come to Canada
>Still poor
>Working deadend cuckslave jobs
>I'm actually becoming successful despite them dragging me down
>Parents have no clue how personal finance works, think that turning off small lights while spending money needlessly elsewhere is "frugal", that kind of shit
Smdh
>>1153855
> Middle-class parents
> Reasonably well off
> Messy divorce pissed away all the money
> Leave school, nothing left for me
> Their generation wrecked the economy, Labour government means no jobs.
> Piss away my savings trying to get by
> Work 1 year out of 5 in various shit jobs
> Finally get a steady job
> Still there
> Grandparents start dying off
> One side of the family doesn't even invite me to my grandmother's funeral, so I'm guessing they took inheritance meant for me
> Not that there would be any given that she was in 24-hour care towards the end
> Other side, last grandparent still hanging on
> Too many kids/grandkids on that side for there to be much left for me anyway
Boomers ruined my career, but at least I have a job and a nice car, now.
And at least I learned how to not spend money due to years of not having any. Managed to avoid throwing huge amounts into my first car as well, because I just got sick of fixing it and did some basic maths. Turned out, paying to finance a newer car that didn't require repairs all the time worked out cheaper than owning an old shitheap outright, and I'm going to have a couple of years of payment-free trouble-free motoring after, and some resale value left in it for the next one.
I don't dare save much funds because inflation's being kept artificially low. One fuckup by government could send everything spiralling into hyperinflation, or if the communists get in again they'll try and seize everything.
>>1153855
>slav
>great granfather moves to America for work
>earns money gets back builds a house
>grandfather earns spot chief of staff in a big furniture factory
>blows his money on meaningless shit
>factory bankrupts
>my father finishes uni
>basically broke as shit at this point
>start working for in the public sector
>he gets married at 30
>i get born
>live in conditions no man should endure
>father grows older
>manages to earn 100K in his liftetime and start his own business
>he will retire soon
>i will have inherit and continue
>he has 2 other kids
>not sure if i stay or should i go
>>1153855
Well let's go through the generations
>gramps has $6 million, no debts or anything like that.
>going to leave most of it to firstborn son, total fuckup who at 55 has worked maybe a grand total of two weeks in his life
>says it's because "he needs it more"
>the dude is literally going to spend it all in under a year, even sent my parents a christmas card to that effect talking about buying William Shatner's old chair from Star Trek
>other siblings (including my dad) are pissed but what can you do
>My boomer parents make combined 300k a year
>house, cars, everything paid off
>jack shit saved for retirement though
>four kids (including me) all with graduate degrees
>me and wife make 120k together
>60k in student debt
>looking at buying a few shitty properties to rent to niggers
>dad owns 1/6th of a mid-tier Australian law firm
>all is going well
>buys a hobby farm
>dumps 200k+/year into it
>Australian legal industry starts going to shit
>buys an investment house 0%down
>spends 200k+ fixing it's Bs
>is now running a 150k loss on it
>panic sold shares in commbank
>legal industry wheezing
>buys mother a new car
>buys a racecar and dumps 50k into it
>income from firm more than halves
>Slater and Gordon (not his firm obv) down 80%+ for the year
>all these expenses cost him more than his yearly income
>drawing down superannuation
>still won't sell
Why
>>1153855
>Grandmother is sharecropper's child, works as a maid for a good deal of her life.
>Marries Grandfather, have 3 kids, my dad being the youngest.
>Dad grows up being the weak link, but goes to school
>Gets a shitload of debt from getting a liberal arts degree followed by a theology degree
>Makes 70k a year in completely unrelated job he hates.
>Marries mom who works public sector making garbage pay despite being qualified to do something else.
>Middle class, lived comfortably within means until my sister was born.
>2 kids means gotta move from a $40,000 home to a $200,000 home of course, in the same area my parents both hate instead of GTFO somewhere new, with no real job opportunities.
>I graduate, get scholarships for Uni, all looks well.
>Have gap in financial aid.
>Parents offer to pay for that semester in an unexpected show of coolness.
>They don't actually.
>Lose all financial aid permanently due to not being able to attend due to not knowing that semester wasn't paid for in time to put together a solution myself
>No debt anymore, but shit credit from dad stealing my identity in an unrelated incident and no idea if getting debt for uni is worth it.
>Worth about $3,000. Still working.
>>1153855
>boomer single mom
>nice lady, but mildly retarded
>treading water before the recession
>oh hey all our shit was on credit
>great now we're poor
>she moves in with my grandmother
>it's nice that grandma is willing to provide for us, but she won't shut up about how great she is
>grandma is retired saleswoman
>keeps telling me to go into sales
>i either suppress myself and am too nice or am way too aggressive for the rest of the office to handle, no middle ground
>can't stand retail/service because the wages are shit and the people in charge are retarded
>light bulb pops up over my head
>start selling political shirts
>start bringing in dosh
>everything is daijobu
That's where we're at currently.
>Both professionals.
>Dad seems to just light money on fire constantly but has around $500,000 in a 401k,
>Dad did a yolo bet with $30,000 on Ford back in 2009, which I suspect really brought him to break even on the stock market
>Mom has a state pension that will give them something around $40,000 a year
>Fully paid off house that's worth around $600,000
Could be a lot worse. Unfortunately, my dad played it safe at a shitty little company for like 20 years which really crippled his earning power.
>>1153855
>Father comes from old old old money and works at PWC in a upper management near executive position, he is also still receiving payout for several thousand acres of land that he has the title to that oil companies use.
>Mother is a first generation Italian American who my father married sheerly based off of looks, she currently works at a prestigious university near our house as some sort of made up mumbo jumbo job.
>My dad saves a substantial amount of everything he makes and all of the money from our land gets immediately reinvested into a long standing fund, his father and grandfather (it has been a series of just one male child for a few generations) did the same and eventually it will be my duty to do so as well.
>Mom spends most of what she makes but saves some to give to her ailing mother back in "the old country"
>They have a lot of assets and a pretty diverse portfolio spread across aforementioned property, holdings in a few apartment buildings, and a whole lot in investments. So they are very financially sound.
>I do not live with them anymore but we lived very well however not extravagantly. I didn't get a Ferrari for my 16th birthday or anything nor did we have 6 houses (only 2).
>I'll have a very very large inheritance but I do not really need to live beyond my means. The surveyors expect the wells to be dry before I expect my father to die in which case I will have to decide what to do with that property.
>I intend to keep things fairly safe and hold a stable job, I'm currently working under the director of financial markets at the GAO and may move up to another position soon.
Overall our finances are pretty 10/10. There is no debt in my family and it is a very tight knit family unit with no extensive familial relations so almost all of the assets will move on to me when my parents pass. I will hopefully marry well and have a couple male children and aim to more equally divide the assets amongst them.
>>1154041
I'm sorry not to offend or anything but what the fuck are you doing here????
GO enjoy life
>>1154044
It's a Sunday night and I have work tomorrow, I'm not really sure what else I would be doing right now. I'm just listening to Prydz's UMF set and reading some Mann and Ornstein article that Brookings published.
I've enjoyed my fair share of life and college and grad school we're certainly living life but if I live wildly then my children will live wildly as well and all of this money that we've built up over a couple hundred years will disappear in fifty. No one wants to be the one to sink the boat.
>>1153855
>parents are soviet era working class people
>got assigned a house by the soviet government 40 years ago, still live there. Worth around 50k euro now, both worked 1.5xmin.wage jobs, scraping by somehow, now retiring.
>have two siblings, sister married a well to-do software engineer kind of guy, went to US, doing alright. They own a couple of real estate properties in Florida (what were they thinking?), which they bought during the 2007 crash, which makes it alright I suppose.
>brother used to be a total wreck. 100k in debt to build a house, wasted all of it left and right. Spent time painting walls in the UK, came back broke etc... Amassed tremendous life experience due to an outgoing personality and charisma, managed to land a director position in a government company through shear alphaness. I mean he never went to uni or anything, just high school. Doing OK now.
>I'm a social retard weaboo nerd. Went the proper route of school->BSc->MSc in CS (free education, so no debnts) moved from my slav shithole to London. >Landed an entry level job in a massive investment bank, getting by for now.
Extrapolating from the current situation 15 years into the future, I'll be able to go back to my slavic shithole, buy a nice flat, and happily live a middle class lifestyle without having to work again.
If you dickheads worked as hard as you piss and moan about "boomers" you'd all be rich or on your way too it ...instead of you shoving brony, furry buttplugs up your ass and getting drenched in Axe while getting a dinner plate shoved into your earlobe and getting weird fucking tattoos that represent the flat brimmed ballcaps and orange dayglo soccer shoes you feel you must wear while "gaming" or bitching about girls who are trying to make something of themselves while you sit in your basement jerking it to tranny porn and wondering why no one calls your ass with offers to pay you six figures because you think you deserve it.
>>1154134
Holy kek t. Boomer Supreme
>>1154134
Some of the points are valid though. The posts essentially describe people who, through their lack of financial knowledge, have failed to attain financial success, even though presented with the opportunity. Quite natural to have regrets about the failings of your parents. Your kids will hate your ass as well, if you don't step up.
>>1154134
Get the fuck out you boomer trash.
>mom was poor as fuck grew up in the Canadian maritimes, lived in a house with a dirt floor
>dad came from your average middle class baby boomer family, house in a brand new suburb, new family car every few years
>mom dropped out of highschool and moved west becoming an insurance agent
>dad barely passed highschool and started working for the railroad
>had 3 kids, some financial trouble but otherwise lived a fairly normal lower middle class existence
>my sister works in a hospital laboratory
>my brother is an engineer
>I'm basically a failure and work a labor job, trying to get into a trade but having no luck
>>1154175
Enjoy having a simple paycheck to paycheck life for the next 40 years and pray for the basic income to be introduced at a national scale before the machines take over completely.
>>1153855
>parents are wealthy
>old Nashville money
>raised me well enough that I don't have to post a paragraph long green text story on /biz/ like an autist
>>1154176
>paycheck to paycheck life
Doubt it, I already had 45k saved at age 21
>>1154189
>I'm basically a failure and work a labor job
Yeah, well, you should reassess your self image. From your description, I'd assume you're a minimum wage earner who lives in a shitty rundown studio, having trouble to make ends meet.
>>1154204
I just have high standards for myself which I'm unable to meet leading to low self esteem.
Hopefully the robot revolution comes though because I went to trade school and know PLC programming, the problem is getting your foot in the door
