The American Dream Died in the 1980s

Gen X cousin Lorie, 48 years old, is still trying to get her American Dream. She always dreamed of getting married, having 2 kids, a nice house with a big backyard, and money in the bank. Instead, she is now divorced, living in an apartment with soaring rent, one kid in middle school and the other hoping to go to college. She works a job she hates because she makes $50,000/year with health insurance. Even at this “good” salary, inflation has taken away her savings. Covid illness, her own and her children, have taken away her sick days. Every day is a struggle.

She is drowning in credit card bills, but she can’t file for bankruptcy because she filed a few years ago. She is upside down on her car loan and pays $500/month for a 7-year lease. She has cut expenses as much as she can but there is no more to cut.

On the other side of the coin, her Boomer parents are doing really well. They are in their early 70’s, healthy, spry, and live in a big 4 bedroom home. They travel often thanks to their big fat retirement account. Their children ask them when they are going to downsize but they have no plans to do so. They try to help out Lorie when they can but they want her to pull herself up by her…