Afraid Dad was right, people living beyond their means

[RazorCat]

Age, and what generation you belong to, has nothing to do with whether you’re smart, dumb, a genius, or an idiot. They all come in all ages and sizes.
That’s something I’ve learned in 62 years. Even at my age I’m still surprised at times by the character and heart of some people that I never would have thought it of. That’s my fault. I love it when people pleasantly surprise me. And it’s more often than not. Labeling people by age is a dumb way to look at things.

[Chainslinger1959]

Been happening for 50 years, what's new?

Most Americans live way above their pay grade.
J D

[Chainslinger1959]

Boats will be first on the list that owners will choose to default on when they lose their jobs. The used boat market will be flooded, with few buyers. There could be like new repossessed $80K Rangers for $40K. Tough times are ahead for the boating industry.

Dang maybe I can upgrade.

[Wild Heethen]

Warren Buffett says, "when the tide goes out you find out who has been swimming naked".

PERFECT analogy! Always been that way. Always will.

[Wild Heethen]

Okay boomer. What's with all the hate on millennial's on this forum? Lets think, what generation raised us? I for one am a millennial who isn't worried in the slightest, I have plenty of savings for a situation like this and was taught to always be frugal and save where you can so you have a backup in emergencies.

Friend, I'm a Boomer. And I'm hear to tell you I highly respect guys your age that have the good sense to manage your finances the way you're doing. My Grandfather taught me and I'm trying to teach my Daughter exactly what you're doing. Proud to know you.

[Transom]

Millenials actually are bigger savers than the other generations.

[USMC2112]

Millenials actually are bigger savers than the other generations.

. WARNING: The following comment is entirely in jest but I couldn’t help it:

Living in their parent’s basement probably saves a lot of money.

[Bassman Ia.]

. WARNING: The following comment is entirely in jest but I couldn’t help it:

Living in their parent’s basement probably saves a lot of money.

sure does, there was a guy that lived in his mom’s basement until he was in his 40’s. Never got a real job for years. Now he is rich and he thinks everything should be FREE.

FREE COLLEGE
FREE HEALTH CARE
FREE FOOD
FREE FREE

[dwmgg17]

They got to do something to pay for their homes and lifestyles. It is funny to me.

[fly by night]

Way above their means for sure, been saying this for years! Many won't even eat leftovers, for example! Nothing is good enough, very highfalutin individuals!

[NitroZ7]

Many big companies lived beyond their means too with high debt levels. They should also be held accountable at the end of this.

[grandbassslayer]

Many big companies lived beyond their means too with high debt levels. They should also be held accountable at the end of this.

What do you want to do shut them down and lay employees off?

[NitroZ7]

What do you want to do shut them down and lay employees off?

No because that would just cause further harm. But if they receive a bailout they are going to need to pay the price in terms of issuing some debt/warrants/equity to the government. I don't want to see airlines or other industries fail that employ alot of people but there needs to be a price that is paid back to the government for assistance.

[grandbassslayer]

No because that would just cause further harm. But if they receive a bailout they are going to need to pay the price in terms of issuing some debt/warrants/equity to the government. I don't want to see airlines or other industries fail that employ alot of people but there needs to be a price that is paid back to the government for assistance.

[Bkt1]

Age has nothing to do with if you are smart, ignorant, or stupid. I get sick and tired of grown older men talking about a younger generation. Some of the older men i know cant work a tv remote, some younger guys i know dont know how to check the air in there tires

[AKRISONER]

I'm here to tell you now you can save all your life and later all it take is a good sickness to wipe you out. I unfortunately inherited a bad heart from genetics and even with insurance am now financially screwed because of the high medical bills. When it all comes down to it and you get sick and need multiple surgeries and constant care etc. the insurance company that you've been paying into for years will turn their back and shit on you and leave you holding a large chunk of the astronomically high cost of the medical bills. They do every tiny thing they can to refuse to pay for anything. It's not the "out of pocket" expense on your policy that gets you. It's what they refuse to cover that's the kicker, so you get these monstrous bills directly from the facility or Dr.

this is just so effin messed up...all the best to you man.

i couldn’t friggin imagine and I’m glad I’ll never have to!