The next crop is buying homes in their 20s and taking many other types of loans as well
Recently, I attended the 50th wedding anniversary celebration of the parents of a dear friend. Just the relatives numbered over 100 and they made it a point to come and be a part of the celebration. The obvious outpouring of joy at the event was also in part due to what her father had done for the family. Uncle was in the railways, and my friend tells me that it was this one job that funded the education and marriage of an extended family cohort. Many of us can identify with this story of that one job and its ability to lift an entire extended family out of genteel poverty. For many of us who grew up in households where the primary bread winner worked not just for the nuclear family but an extended family know the pressures it put on the house. Many of us, who rode up the rising tide of prosperity unblocked after the 1991 reforms, cannot scratch out our tight-money growing-up years. We cannot ditch the risk averseness that was built into life as it was. And I believe it did us good in terms of teaching the value of things and money.