Disney Is the Happiest Place on Earth, if You Can Afford It

[Twilghtsprkle]

A poor economy can certainly push people into debt. An unexpected illness or a major repair can force someone into debt if they're unemployed or just not making as much as they used to. Not all debts are due to people living above their means.

When someone brags about a record-high stock market, I always want to know how many of these rocket shares they really own and how much have they made from them, because it doesn't help me if I don’t own any of them.

A poor economy will also push some out of retirement.

My husband just saw that a guy he knew retired is back in the workforce. This guy had been a VP for 20 years, but he took a job as a director now (big step down). My husband thinks he probably staked his retirement too much on UnitedHealthcare stock - he would’ve had a ton of stock & options.

My husband no longer works there and he’s had to keep quiet because so many people he knows are lamenting how much they lost, but my husband cashed out right before it tanked. Don’t know if he’s lucky or smart.

 

[Starport Seven-Five]

The economy didn’t make people go into debt! We all make choices in life. I don’t understand the mindset that “life just happens to me and I have no control over it.” Our parents lived through a much tougher era and were able to buy homes and retire comfortably. Of course, they never had a credit card and never bought something they couldn’t afford.
All three of our kids went to college and graduated without debt as well as my husband and I. And one of them is a physician. We saved for college with savings bonds for them and 529 plans, they worked and got scholarships. They didn’t choose expensive schools and they worked while in school. They were RAs so they got free room and board. And we are very strictly in the middle of middle class. It takes work and sacrifice, but it’s worth it that our kids didn’t start their lives in debt, and are now all home owners as well.

Not to be rude but being born to parents that saved for your college expenses is not a choice children get to make.

 

[DCLMP]

The economy didn’t make people go into debt! We all make choices in life. I don’t understand the mindset that “life just happens to me and I have no control over it.” Our parents lived through a much tougher era and were able to buy homes and retire comfortably. Of course, they never had a credit card and never bought something they couldn’t afford.
All three of our kids went to college and graduated without debt as well as my husband and I. And one of them is a physician. We saved for college with savings bonds for them and 529 plans, they worked and got scholarships. They didn’t choose expensive schools and they worked while in school. They were RAs so they got free room and board. And we are very strictly in the middle of middle class. It takes work and sacrifice, but it’s worth it that our kids didn’t start their lives in debt, and are now all home owners as well.

Not everyone is born into a life of privilege. Not everyones parents have the income level to save for their kids college. Not everyone gets a scholarship. No offense, but you seem to lack any kind of empathy for people that have legitimate reasons to be struggling. Do you ever stop and ask yourself why is college so expensive and how did we get here?

In other news DCL is giving 40% off on cruises. Another sign of our peachy economy.

 

[DCLMP]

A poor economy will also push some out of retirement.

My husband just saw that a guy he knew retired is back in the workforce. This guy had been a VP for 20 years, but he took a job as a director now (big step down). My husband thinks he probably staked his retirement too much on UnitedHealthcare stock - he would’ve had a ton of stock & options.

My husband no longer works there and he’s had to keep quiet because so many people he knows are lamenting how much they lost, but my husband cashed out right before it tanked. Don’t know if he’s lucky or smart.

People seem to have short memories and have forgotten about the 2008 financial crisis. It pushed a lot of retirees back into the work force that's if they could find a job. It could happen again and probably will happen again because the economy always goes in cycles. It sounds like your husband was smart.

 

[Dakota731]

Not everyone is born into a life of privilege. Not everyones parents have the income level to save for their kids college. Not everyone gets a scholarship. No offense, but you seem to lack any kind of empathy for people that have legitimate reasons to be struggling. Do you ever stop and ask yourself why is college so expensive and how did we get here?

In other news DCL is giving 40% off on cruises. Another sign of our peachy economy.

Privilege? My kids certainly weren’t born into a life of privilege. Our highest combined income we made when my kids were college age was $60,000. Everyone doesn’t have to go to a pricey college. Life is all about choices. Of course there are unexpected medical bills etc that can happen to anyone (we had those too). But there is no arguing that this generation spends way beyond their means more than any other in history. Generations in the past had some tough times too. My dad was born into life of poverty (he tells how every day for lunch he had to pack a ketchup sandwich) yet he worked hard, spent frugally and was able to buy several homes and retire comfortably (with no college degree). My generation had 18% mortgages, and much higher inflation and unemployment than right now so everyone has had issues to deal with.
I know why colleges are so expensive. I used to work at one. They have huge endowments just sitting there (millions and sometimes billions of dollars) yet they keep raising tuition. They have bloated administrative costs - more than any industry I’ve ever worked for, yet they don’t feel
the need to downsize like companies have had to. They keep adding expensive amenities and programs to attract prospects and passing the costs onto you. But until people stop paying the high costs, then they will continue to fleece our children. Try community colleges or local small schools, try trade schools. The biggest roadblock to young adults from home ownership now is huge college debt. Everyone has a choice and you don’t have to get sucked in a cycle of financial ruin.

 

[Starport Seven-Five]

Privilege? My kids certainly weren’t born into a life of privilege. Our highest combined income we made when my kids were college age was $60,000.

In what year? You keep citing raw numbers without context. 60k isn't much today but it was double the median income in the 90s.

Everyone doesn’t have to go to a pricey college. Life is all about choices.

Even state schools are 70k+ for a 4 year degree now.

 

[DCLMP]

Privilege? My kids certainly weren’t born into a life of privilege. Our highest combined income we made when my kids were college age was $60,000. Everyone doesn’t have to go to a pricey college. Life is all about choices. Of course there are unexpected medical bills etc that can happen to anyone (we had those too). But there is no arguing that this generation spends way beyond their means more than any other in history. Generations in the past had some tough times too. My dad was born into life of poverty (he tells how every day for lunch he had to pack a ketchup sandwich) yet he worked hard, spent frugally and was able to buy several homes and retire comfortably (with no college degree). My generation had 18% mortgages, and much higher inflation and unemployment than right now so everyone has had issues to deal with.
I know why colleges are so expensive. I used to work at one. They have huge endowments just sitting there (millions and sometimes billions of dollars) yet they keep raising tuition. They have bloated administrative costs - more than any industry I’ve ever worked for, yet they don’t feel
the need to downsize like companies have had to. They keep adding expensive amenities and programs to attract prospects and passing the costs onto you. But until people stop paying the high costs, then they will continue to fleece our children. Try community colleges or local small schools, try trade schools. The biggest roadblock to young adults from home ownership now is huge college debt. Everyone has a choice and you don’t have to get sucked in a cycle of financial ruin.

I don't know what year you made 60k, but in 1980 60k is 235k today. That is hardly suffering. Secondly there are no cheap trade schools or small colleges. Exactly what generation spends beyond their means. There are several generations contributing to this economy. Thirdly it's your generation that has been in power and still is for the most part yet you wan't to blame the kids?

 

[FreeTime]

I don’t disagree with @Dakota731 regardless of what generation they are in. I’m an X with Zers. When our youngest graduated college in 2022 we had a HH income of $78k. It can be done today. Households have to decide what to go without. People on a vacation board are potentially making choices to travel over saving for college, retirement, etc. That is their choice. But they can’t say others kids had more privileged opportunities because the parents elected to be better stewards of their income.

Branches of our local state university are charging tuition of $12k annually. Most people in the US live within driving distance of more affordable options.

 

[DCLMP]

I don’t disagree with @Dakota731 regardless of what generation they are in. I’m an X with Zers. When our youngest graduated college in 2022 we had a HH income of $78k. It can be done today. Households have to decide what to go without. People on a vacation board are potentially making choices to travel over saving for college, retirement, etc. That is their choice. But they can’t say others kids had more privileged opportunities because the parents elected to be better stewards of their income.

Branches of our local state university are charging tuition of $12k annually. Most people in the US live within driving distance of more affordable options.

This board in my opinion is anomaly made up of mostly upper middle class and above. I wouldn't make assumptions that people on this forum are taking vacations and not saving for college or retirement. I base my opinions not on my own personal situation, but the economic data I'm evaluating everyday.

Not all parents choose to pay for their kids education even if they can, and like another poster said kids don't choose their parents.