There are a bazillion reasons why GenXers don’t follow the same cycles of financial success as other generations. And the book to read is Generations, by Strauss and Howe. But one thing I can point to is that GenXers (the Nomad archetype) are a generation of gamblers; they tend to believe that success has a lot to do with luck and timing; they gamble with high-stakes risks and - hence, are the most entrepreneurial of the four generations; they’re not afraid to fail because you can always pick up the pieces and go on; and they tend not to trust institutions and large structured organizations to provide safety and security. I don’t know a GenXer alive that expects government programs to take care of them in their elderhood. GenXers know how to survive.

It’s with Boomers where the problem lies. Only about of the Boomer population is properly prepared for their futures; and — were I to predict — there will be a big culture war in coming decades of how and where to spend public dollars on unhealthy and/or financially underprepared Boomer elders.

The Fourth Turning is another good book to read. Also by Strauss and Howe. Makes one feel like a psychic.

As a Gen Xer myself, I went to school on a combination of scholarships and student loans. Upon graduation, I had a siginicant loan debt. I felt behind before even beginning my career, ultimately paying off loans (plus interest) that were about 1/2 the purchase price of my current, modest home. (And I paid off in less than 1/3 the time allow by the loan, so I reduced interest payments).