Dog Folks wrote:
Another factor may be that we are the last generation that had sound money management pounded into us by our parents because they lived through the depression of the 20's.
I remember my parents telling me stories about it.
X10.
We ARE the last generation to be raised by parents that REALLY did know what bad times were all about, worked hard and saved. AND passed those values down to their children.
IMHO, JMHO this past recession nothing was learned by parents and certainly no values passed on to their children about saving. Using homes as piggy banks to buy non essential "toys" and then wondering why they were upside down on their homes....and then purposely don't pay the house payments and get rewarded by the gov, etc. etc. etc.
I just bought property here in Florida and at closing the sellers were "rewarded" $3,000 from the government for defaulting on their loan. :R