Quote:I'd thaught it to be an American virtue to take care of oneself
Today, for the boomer generation, it's a little hard to consider one's well being in the future when you have elderly parents, who may have to be in nursing homes, to the tune of at least $120,000/year/patient and at the same time worry about putting 2-4 kids through college at a cost of a minimum of $45,000/year/child, not including room and board ( $15,000/year/child.
At this pace, a boomer will be lucky to retire and have a fairly decent 401K to fall back on. Sad to say, many boomers are now tapping into their retirement funds to pay their kid's tuition.