An honest look at the personal finance crisis | Elizabeth White

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Millions of baby boomers are moving into their senior years with empty pockets and declining choices to earn a living. And right behind them is a younger generation facing the same challenges. In this deeply personal talk, author Elizabeth White opens up an honest conversation about financial trouble and offers practical advice for how to live a richly textured life on a limited income.

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💬 Comments on the video

This is me and I’m only 50. I’m feeling this every day, every day
Thank you for making me not feel alone and shamed

Author — Omisade


I hope she's getting paid well for her presentation. She definitely deserves it.

Author — Celia Gorleski


There's so much to unpack here. As you read the comments there's plenty who have snarky things to say, brags about how well their doing but only a few who gets that this is bigger problem or give real helpful advice. Our society as a whole will never understand that
It doesn't take much to lose a lifetime worth of savings & work.
A couple of bad choices or medical issue and you can litterally be dependent on anyone but yourself in the blink of an eye. The 1% with the riches will always get the best deals, breaks & advantages and they don't need it plus rarely do they reach back to help a underprivileged community, a small biz or someone struggling to build from nothing. Anyways, as you can tell I have lots to say about this. Loved her Talk. Hope she found her peace and gained financial benefits from sharing her story. I think I have some gems to share as well... Need to see how I can be of help. Be Well folks, God bless this getting older life, we need it 💕🙏✌🏽

Author — Myra J


Tell me again why we saved the Internationals Banks that gambled money in toxic investments in 2009 instead of saving the American People...

Author — AAA P


All I can say is : Avoid debt like the plague.

Author — geoff dearth


stay humble
live below your means
it's going to get much ruffer

Author — gary gerard


“Faking Normal” describes my situation perfectly

Author — KynRoeBri


Yes to everything White says. I came off of my throne. It was both a necessary and a very positive step. It hasn't lead to nirvana, but honest work is honest work, and as White says, money is green. The trick has been to find dignity in what I do regardless of what I do. One payoff is that I feel younger by having to do things that mostly younger people do. It helps keep me feeling vital.

Author — Ron Light


Elizabeth you are so eloquent and insightful. “Get of your throne” is such great advice. This TED talk should be viewed by _everyone_. Thanks!

Author — dwyl HQ


My mother was born in 1932, I was taught well. However, make sure you and your spouse are on the same page.

Author — Momma Bear


I'm 43 & shes making so much sense 🤔 I live in California & I dont see me retiring in the expensive GOLDEN state gotta start making plans.

Author — Oscar Herrera


Our school system doesn't teach us to save and be independent..its scary just thinking u have nothing at 50s.

Author — Sreeprasad shetty


Unfortunately, a lot of the support she suggests: living with a family member, food stamps, and taking in a border is not available to so many. When we expose these financial conditions, it is imperative to connect, collaborate, and construct our financial stability. The key is leverage through people power, the right system, and to build equity.

Do not accept being broke or limited as the new norm. Social changes and technology have impacted the decaying of our support system. What used to be elements of stability in the past are gone or have taken on a new form - "the gig economy". Stop turning your money over to a financial advisor who is going to get paid either way and learn about finances. You may have to do several things to acquire seed money but study a high leveraged money generating system along with it.

As black women, we are most vulnerable of all. We often are the breadwinners. We don't have husbands available to bring in income in many cases. We often have to cover our own debt, pay for children's schooling or help with their support even through adulthood, and take care of a senior family member all at the same time. The cost of living has escalated in disproportion to pay. Automation and "ai" (artificial intelligence) have made certain positions dispensible so the only conversations we should have as we come together is how do we increase our networth?

Author — Cadmar Business Suite


Live way below your means...
Forget what society thinks. Live below your means, live simply. Be frugal..even when financially secure. Remain humble & you will survive. 🙏❤

Author — Choose Happiness


What I do for a living doesn't define me. The way in which I do it does.

Author — J


When you job is doing great, never assume that that will last. Live ordinary middle class, don't trade up to a better house, drive your car until it wears out, pay off your credit card by the end of every month. Save 30-50% of your salary and bonuses. Saving includes reducing the balance owed on your mortgage. When the next recession comes, say by-by to bonuses and raises, and hello to being laid off. Have a plan for living bare bones for 2-3 years. When I was 20, my father was unemployed for 9 months. The dole paid the rent and utilities. I dropped out of college, worked in a factory, then stocked shelves in a supermarket. I gave my mother some of the money I made. We never went out to eat, and Xmas and birthday presents were pretty trivial for a while. The family cars held up.
It is a lot easier to go into a recession with 50K in liquid savings. Those savings plus the dole can enable you to get by for about 3 years. The biggest problems with hard times is having to service a fat mortgage and paying for health insurance.

Author — alnot01


Sadly many of us have elderly parents who don’t understand that we’re not affluent and can’t provide for them in the way they envisioned.

Author — QueenBee1118


I'm only 39 and I'm grateful for this thankyou Queen.

Author — natasha Powell


I truly identify with this lady....I am 83 years old ....a retired Architect, Project Manager, Entrepreneur and also into radio broadcasting. My current annual income just barely allows me to exist from month to month. I on just on a bare Social Security income...no medical insurance.
I live in the past glory of what my life has been...from working on projects like assistant to the great Oscar Niemeyer ...building the City of Brasilia...to 4 patents in personal electronics and mobile now I have nothing. I live from month to month...with distant memories and untold missed opportunities....and hope. Hope that my next dream will be successful....I live in hope! broke!!!

Author — Las Latty


It is so interesting that my husband and I will be homeless tomorrow...and we just had this conversation today, then this video was recommended. In addition she looks like the older version of me. I am slender, chocolate-dark-skinned, have that yellow dress, and wear my hair in a powerful afro! lol!