Well, here is something that apparently has bridged all generations.
Personal Debt.
I have discussed many times the challenges younger generations have with money-management (it was what led to writing the book). I took the stance it was general lack of knowledge since schools are woefully short when it comes to teaching money and money management. But now, older generations are feeling the pain.
The dream of owning your own home and retiring comfortably is falling out of grasp for many people. Personal bankruptcies are up over 400% among people over 65. Home foreclosures, among elderly, are also up at an alarming rate.
So now what?
Back to basics? Ride it out? Hope a new President, whoever they will be, will solve everything for us?
There is no question we have a tough road ahead of us and, in my mind, we will recover eventually. The question is, “Will we learn from it and change our behaviors going forward?”
