Gen X is turning 60 — why the 'MTV generation' is still relying on parents for money, support
I ran into this article the other day. Sheesh reading this made me angry. Can you imagine the impact on the psyche of an entire generation that they never got to be full adults with enough money to cover their needs even up to age 60? Hey before I was no contact, I had to go begging for help with car related matters to mine. Everyone who has read this blog knows how poor I was compared to my mother. Imagine the shame that never ends. Seriously by 40 if you can't pay your own bills, hope is lost for a better future. The degree didn't work out, the health already failed, the career faltered.
My goodness, look at the percentages! Nearly one-third of Gen X?
"Generation X is officially turning 60, and the eldest members of the “MTV Generation” are creeping ever closer to their own retirement years.
Yet, if you look at the latest economic data, a striking number of these 46- to 60-year-olds are still tied to their parents’ financial apron strings.
According to Northwestern Mutual’s 2026 Planning & Progress Study, a stunning 33% of Gen Xers confess to being financially dependent on Mom and Dad, with 22% of them believing they will never achieve true financial independence."
The sociologists have let us down. No one has studied to the extent that it should have been studied how all generations after the boomers have had their economic lives massively worsen. Imagine being 50 years old with your hand-out to your pissed off Mom, that you are such a "loser"! That was my life up to age 44, but I walked.
Do you all remember when I wrote the article, "Gen X is Dying Young"? I wrote that in 2015. My predictions about the worse people of the boomer generation never letting go, did come true, with our doddering and stroking out 80 and 90 year olds holding a death grip on Congress and everything else.
They are dying younger because less money means less resources and means less health.
Imagine the never ending shame, the depression, the knowing you were seen as a failure by your family and parents and it never changed even as you got old yourself!
I don't agree with the realtors quoted in the article. Gen X is broke. The majority of Gen X people I know have never bought a home. Some have, don't get me wrong but a sizeable number never could afford it.
Many of us know financial stability is a pipe dream. I already have accepted as the second silent Great Depression is now rolling, that is something that is long gone for many of us.
Ted Rall got it right: Generation X Faces a Bleak, Impoverished Old Age
Gen X has the Largest Wealth Gap of Any Generation
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