OK guys, what happened to this thread? Talk about thread creep!
Most of your comments here about not saving and extravagant lifestyles refer to the guy in the left seat. I would offer that it is not a function of which seat you are in. That just happens to be the folks you are flying with. There are/have been F/Os that have the same issues. They are the ones that become the CAPT that you are flying with.
There are some obviously bright folks posting on here (don't count me) and unfortunately everyone isn't that fortunate. Reaching retirement age with some pension money (DAL or military) is an excellent situation, but not putting away money of your own while working is foolish.
Now, what is going on with the hiring?