Where did baby boomers go wrong? This generation isn't financially prepared for retirement

[BeyondGeography]

102. The generational jackpot winners were too young for Korea and too old for Vietnam

Last edited Thu Jul 6, 2017, 10:49 AM - Edit history (3)

They caught the American economy at a historically good and stable time and nobody ever labelled them spoiled brats for it. They bought their houses for a relative pittance at low single-digit fixed rates in the early/mid sixties and were able to sell them for 10X more in the 80s or 90s. Their mortgages were less than what many people pay for their monthly car payments right now. They received defined benefit pensions because when they started working the stock market was a comparative backwater that no one would dream of tethering retirement security to. They were able to work their way up through giant companies and get raises every year. Their kids went to college for under $5k/yr. and much less if it was a state school. Health care was accessible and affordable to them their entire lives, because they turned 65 10 or 15 years ago. And they never had to worry about dying in a war.

These people were born 1935-45, roughly speaking. There are no labels for them and I think they like it that way. Of course, we're talking white guys here and the vast majority of them voted for Trump. If they're anything like my father, and I suspect they are, they're a lot more angry (and have been for a while) than they are grateful.