The Crystal Stair of Investing: Modeling Financial Wisdom In Hard Markets
What Boomer and GenX investors can learn from Langston Hughes
This week, I attended a parent-teacher learning event at our teenage son's school, where we discussed the current trimester’s curriculum. The topics ranged from the American Civil War to the Harlem Renaissance, and amidst it all, one particular poem struck a chord with me—Langston Hughes’ Mother to Son. As I listened to the discussion, I couldn’t help but draw parallels between the poem’s themes of perseverance and generational wisdom and the journey of baby boomer and Gen X investors navigating today’s complex markets and desire to preserve wealth through the back half of their lives and leave something to their future generations to build upon.
Hughes’ powerful lines remind us that “Life for me ain't been no crystal stair.” It’s an enduring truth not just in life but also in investing. The wisdom of past generations can serve as a guiding light for those still climbing, ensuring that financial knowledge and resilience are passed down effectively.
Life Ain’t Been No Crystal Stair
Just as the mother in Hughes’ poem describes her life as a difficult climb, baby boomer investors have faced their share of economic challenges. From the oil crises of the 1970s to the dot-com bubble and the 2008 financial meltdown, each era has tested their resolve. Yet, they have persevered, learning from every market downturn and adjusting their strategies to stay the course.
These experiences serve as invaluable lessons for their Gen X children, who now find themselves in the middle of their investment journey, grappling with inflation, market volatility, and an ever-changing economic landscape.
Turning Corners in the Dark
The poem’s imagery of navigating through darkness resonates deeply with investing. Markets are unpredictable, and the future is often uncertain. Boomers, having experienced recessions and bear markets, understand the importance of resilience. Their stories of perseverance can instill confidence in younger generations to stay the course even when the financial road ahead is unclear.
For Gen X investors, these lessons are crucial. While they may not have faced the same challenges as their parents, they still encounter their own hurdles — rising home prices, shifting tax laws, and the pressure of saving for both their children’s education and their own retirement. By learning from their predecessors, they can avoid common pitfalls and build a more secure financial future.
Keep Climbing On
One of the strongest messages from Mother to Son is the call to persist despite obstacles. Boomers can reinforce this mindset in their children by advocating key investment principles:
Embrace diversification – Spreading risk across different asset classes can protect against downturns.
Stay invested – Market downturns are temporary; long-term growth is the goal.
Continually educate yourself – The financial landscape is ever-changing, and staying informed is crucial for success.
By implementing these strategies, Gen X investors can set themselves up for long-term stability and ensure they are well-positioned for retirement.
Don’t You Fall Now
The poem’s warning against falling can be directly applied to investment discipline. Boomers can pass down the following financial cautionary tales:
Avoid emotional decision-making – Rash decisions based on fear or greed often lead to poor outcomes.
Resist the temptation of speculative trends – Many investors fall for “hot” stocks, crypto fads, or other short-term schemes that don’t pan out.
Maintain a long-term perspective – The best returns come to those who exercise patience and strategic planning.
By internalizing these principles, Gen X investors can avoid the costly mistakes that often derail financial progress.
I’se Still Goin’, Honey
Boomers should continue to lead by example. Staying engaged in financial planning well into retirement can inspire younger generations to do the same. They can do this by:
Sharing investment lessons and strategies with their children
Managing retirement funds with discipline and foresight
Adapting to new financial technologies and innovations to remain an informed investor
By maintaining an active role in their financial decisions and stress testing the current knowledge and learning appetite of their advisors, boomers can demonstrate the importance of lifelong learning and adaptability.
Passing the Torch: Gen X and Beyond
Reachin’ Landin’s
In Mother to Son, the mother acknowledges that she has reached “landings” along the way—milestones of progress. Similarly, Gen X investors should focus on setting and achieving financial goals. Whether it’s paying off a mortgage, funding a child’s education, or reaching retirement savings benchmarks, these moments should be recognized and used as teachable experiences for the next generation.
Turnin’ Corners
Gen X investors are often in the unique position of caring for both aging parents and their own children. This “sandwich generation” faces distinct financial challenges, but they also have opportunities to:
Explore alternative asset management funds that are acquiring thriving small businesses from retiring boomers.
Make investment choices that align with long-term family wealth-building strategies and explore a dollar cost averaging position in Bitcoin as your own strategic reserve asset.
Utilize financial technology to optimize their portfolios and financial planning.
And Sometimes Goin’ in the Dark
The uncertainty of today’s market can be intimidating. However, just as Hughes’ poem encourages perseverance, investors can navigate challenges by:
Keeping up with economic trends and financial education.
Seeking professional guidance when necessary.
Balancing risk and reward to maintain financial stability.
By staying adaptable and informed, Gen X investors can make sound financial decisions even in uncertain times.
Building a Legacy of Financial Resilience
Don’t You Set Down on the Steps
One of the most critical steps in wealth-building is passing down financial wisdom. Gen X can prepare their children by:
Teaching basic financial principles from a young age.
Involving them in family budgeting and savings discussions.
Encouraging entrepreneurial thinking and financial independence.
’Cause You Finds It’s Kinder Hard’
Financial hardships are inevitable, but they don’t have to be devastating. The best way to equip the next generation is to provide them with:
Real-life examples of financial resilience.
An understanding of long-term investing benefits.
A foundation in financial literacy that will serve them throughout their lives.
Conclusion: A Better Starting Point
Langston Hughes’ Mother to Son offers a timeless lesson on perseverance, one that applies as much to financial success as it does to life itself. Boomers have walked a challenging road, and their experiences can serve as a blueprint for Gen X and future generations to navigate their own financial journeys.
While life—and investing—may not be a “crystal stair,” each generation can provide the next with a stronger foundation. By passing down financial knowledge, fostering resilience, and embracing education, we can ensure that our children and grandchildren climb their own stairs with greater confidence and stability.
My wife has often said, “Choose your hard.” when it comes to the actions you take each day and as Hughes’ mother wisely says: “I’se still climbin’.” And so should we all.
Yours in wealth and health,
~Chris J Snook
P.S. Read the full poem below
Sources
[Teaching Financial Literacy to the Next Generation](https://www.quorumfcu.org/learn/home-and-family/nine-smart-ways-to-teach-your-kids-finan