Are you worse off than Mom and Dad?

[James]

CNN Money Article

If you feel like it's harder to provide the kind of middle class upbringing for your kids that your parents gave you, you may be right.

Why? The costs of housing and a good education are killing them.

Its a very interesting article. My wife and I are much better off than my parents were at the age of my son, who is 6 months. But I doubt I'll be able to match them when I was in High School (1980s). I can't see myself making the kind of money my Dad ended up making before he retired. Life was very kind to my Dad after the mid 70's.

 

[Roger]

I make less than half of what I use to make when I first entered DBS. It sucks and it's not going to get any better.

 

[cooper]

My wife and I are going much better than my parents, however, that's at the expense of the both of us working long hours in Manhatten and leaving our 8 month old son with a live in nanny whereas my mother stayed home with us until I (the youngest of 3) went to school full time. Then she had to get a job.

 

[James]

My dad and I played catch during the summer months when I was young. I get home much later than my Dad did. I guess that is another cost we must bear...

 

[marko]

Hum, I'd say my family has a much more stable money situation that I did when growing up. Of course I only have 2 children, while I have 11 siblings, which made it a lot more difficult money wise for my parents.

My wife does stay home with the kids, as did my mom. Hopefully she will get a job when the youngest goes to school full time, and then I can retire

 

[silversurfer]

I am not convinced it is any harder. I think the standard of living is much higher today then it was when I was growing up. Just a quick poll of the number of TV's in the average household verses 10 or 20 years ago would give you a pretty good indication. We have gotten spoiled. All these toys add up!!

 

[James]

Toys do add up, I'll give you that, but I work at least 60 hours a week if you count my traveling. Sure I get to take vacations in Hawaii using my frequent flyer points, but I'm so busy I can't even mow my own lawn.

 

[John Corn]

Yes, that was very interesting James

I'm better off than my parents, but I'm not as secure in my job. The article addressed that.

I really think that it's a good idea to have a business on the side that provides some income for retirement.

Now I need to find a side buisness, I'm going broke waiting on Scott's pay!

 

[Stargazer]

I bet a lot of people's opinion of whether or not they are better off than their parents would be different now compared to pre 9-11-01 after seeing the possibilities of what can happen.

 

[alfbinet]

This is off topic but why does everyone have a "join" date that has not occurred yet? Stargazer your join date is 30 Nov 2003