I graduated high school in 1979 in a small town in California. My mindset was that I would get a job at a major employer, give 30 good years as a dedicated worker, and retire comfortably (enough). What I found in the real world was quite different. Just the idea of being able to stay with a single employer was already a crumbling ideal. I found myself working for several companies and making paltry wages for most of those 30 years. I worked upwards of 90 hours a week just to get by. It was a great relief in my mid 30’s when I could finally afford insurance on my (old) vehicle. I finally felt that I was at least a fairly respectable citizen by that point. What I did not know when I graduated high school, the ideal I had been fed all my life was already at least 5 years dead.
I did not mention college. The small town I went to high school in did provide guidance counselors, but they were concerned only with getting us to make it out of high school by graduating with a passing grade. I found myself in a time when college loans were only for minorities and the middle class or above. My Grandmother’s paltry $300/month pension did not qualify me for financial aid in those days. So I worked while attending junior college until I had to give up school for full time work to pay the costs of living. Even with my GPA of over 3.5, I was not eligible for academic scholarships, at least not that the counselors could find.
The conversations we are now having over 30 years later about saving and investing should have been the norm when I was beginning high school. A few years ago my body finally gave out from giving my all to employers and not looking out for my own welfare during those years. So now I am disabled and squeaking by on Social Security only, while in my early 50’s to boot. But this is not just about finances. My generation and those of the past had a cultural code of working hard and giving all, and for a job well done we thought we would receive a good retirement. My grandfather had a decent home on a nice, but small piece of land. And so I thought, coming out of high school, I should be able to achieve the same. I do wish that retirement goals and strategies had been discussed in my family and at school before I entered high school.
In my late 30’s and early 40’s I was appalled at the current youngsters that were entering the workforce. They seemed so selfish; always it was “me, me, me.” They had no commitment to their work or their employer. Now, it seems the XYZ generations are not only at the “me, me, me” stage, but “now, now, now” as well. In my opinion it will take another generation to actually achieve what we as a society are discussing now in terms of retirement. My generation’s grandchildren may finally be able to reach the compromise between giving all for their employers and focusing solely on their immediate gratification. Cultural shifts seem to take a couple generations to make their mark on society as a whole in this country. At least we are having the conversations at last. In a more perfect world shows such as yours could by sent back in time for generations past. Thanks for providing an impetus for dialog on issues that concern us all. As they say, hindsight is 20/20.