Why Baby Boomers are richer than Gen X...

PasturesNew

I'm technically a boomer... I don't see me rolling in wealth, 2nd homes, foreign hollidays and a fat pension.

Sweeping statements never help anybody.

Loads of Gen X yoof are earning more in a year than I have in my entire life.

ruggedtoast

ukcarper wrote: »

It's alright rugged when we peg it you hard done by Xers will get your hands on our money.

Money money money. Just sums up the boomer attitude.

ash28

ruggedtoast wrote: »

Money money money. Just sums up the boomer attitude.

It fairly nicely sums up your attitude too. When you constantly rant about what people have and what you have not, that is about money surely - the people being ranted at, who in your opinion have too much and the ranter(s) who in your opinion have too little. And you want what the ranted at have.

seven-day-weekend

ILW wrote: »

Exactly.....
It does also appear that much of Gen X don't actually start work until their mid twenties.

Quite true. In my generation, (born in 1950), most people started work at 15 or 16. So, 8-10 years more in the workplace.

ash28

PasturesNew wrote: »

I'm technically a boomer... I don't see me rolling in wealth, 2nd homes, foreign hollidays and a fat pension.

Sweeping statements never help anybody.

Loads of Gen X yoof are earning more in a year than I have in my entire life.

Correct they are - 3 of them are David Cameron born in 1966, George Osborne born in 1971 and Nick Clegg born in 1967.

Gen x is the ruling elite now - with lots of them in positions of power - and a grand job they are making of it too.

Generali

It remains the case that Baby Boomers are richer because they have compound interest on their side.

It has nothing to do with iPhones, it's just maths.

RenovationMan

Graham_Devon wrote: »

How could I not get it? It's simplicity itself.

Boomers were all careful, saving for a rainy day, never taking on any extra debt. It's why they are in the position they are in now, with lavish savings and expensive homes. The 20-35 somethings of today however are all lazy, consumption crazed, iphone owning good for nothings who just see "me me me" and "blame blame blame". They too could afford a house if they stopped spening £100 each weekend on vodka, and could probably afford a second home if they swapped their iphone for an alcatel.

Oh dear, Graham is building strawmen arguments again. Doesn't he realise how silly he makes himself look?

ukcarper

ruggedtoast wrote: »

Money money money. Just sums up the boomer attitude.

No that just sums up the boomers you know (probably your parents judging by the chip on your shoulder).

You don't get it do you I can't speak for other boomers but I realised a long time ago that money doesn't by happiness and you don't need all the latest gadgets to be happy.

You obviously need enough to live on but that is a lot less than some people on here would have you believe.

ILW

Generali wrote: »

It remains the case that Baby Boomers are richer because they have compound interest on their side.

It has nothing to do with iPhones, it's just maths.

Compound interest is only an advantage if you are a net saver though.

pinkteapot

Also, far fewer people doing A-Levels back then and hardly anyone going to university.

My parents bought their first house (2 up 2 down terrace that needed a LOT of work) when they got married - mum was 21 and dad was 24. But they'd both been working since they were 16 so for 5 and 8 years respectively.

With so many doing degrees now, that's the equivalent of a couple aged 26 and 29.