Hi all, We have been contacted by SBS to appeal for people to take part in a debate regarding how baby boomers spend their earnings. The following are the details of their request for participants:
SBS in Sydney is hosting a studio forum debate looking at the intergenerational divide between Baby Boomers and Generation Y.
Recently...there's been a fair bit of 'Boomer Bashing' in the media....including accusations of egotism, statements that Boomers have had an easy ride and will prove a burden to future generations etc etc.
One of the more contentious accusations is that Boomers should feel guilty for spending their wealth rather than accumulating an inheritance for their children. We're therefore keen to address that issue....and speak to some Boomers who are spending their wealth, which I'm sure they'd argue they've earned the right to do!
The forum will be held Thursday May 12th in Sydney at 6pm....but we may also consider simply shooting a short video interview to use within the debate.
Initially, it'd be great for those who are interested to get in touch on the following email....alexander.dejong@sbs.com.au
ST391GQ said
12:03 PM Apr 11, 2016
Oh Boy....now where did I put that can of worms ....and the can opener????
Cheers Keith
msg said
12:08 PM Apr 11, 2016
My kids have done quite well for themselves and really wouldn't be eyeing off the small amount I have. Anyhow, with the cost of aged care the government is making sure you have nothing left.
LLD said
12:12 PM Apr 11, 2016
As a baby boomer, I never got an inheritance and I don't plan on leaving one.
TheHeaths said
01:22 PM Apr 11, 2016
Isn't it ironic.
On one hand, we are accused of spending any and all money we have managed to put aside in savings or superannuation, and not leaving an inheritance for our children.
Then on the other hand, we are under all sorts of pressure, from business and Government to ensure that we fund ourselves, use our money to ensure we don't "double dip", and make sure that we spend all our money, before asking the Government for any pension or assistance. I also saw the other day the Retail sector complaining that we aren't buying enough Winter Clothing due to the fine weather
Then, we have the audacity to live longer and not die, filling hospitals, doctors surgeries and then remaining in our homes, that should be available for younger people to buy. God we are selfish!!
Seems to me we are expected to be all things to all people, and just not complain.
I suggest that all the sectors, business, Government, our kids and the Retail group all get together and decide what approach they can all agree upon that will benefit them all equally to best advantage.
Perhaps the "Soylent Green" solution isn't so far away!
I for one am sick of all the attention we seem to be getting!
LLD said
06:02 PM Apr 11, 2016
TheHeaths wrote:
Isn't it ironic.
On one hand, we are accused of spending any and all money we have managed to put aside in savings or superannuation, and not leaving an inheritance for our children.
Then on the other hand, we are under all sorts of pressure, from business and Government to ensure that we fund ourselves, use our money to ensure we don't "double dip", and make sure that we spend all our money, before asking the Government for any pension or assistance. I also saw the other day the Retail sector complaining that we aren't buying enough Winter Clothing due to the fine weather
Then, we have the audacity to live longer and not die, filling hospitals, doctors surgeries and then remaining in our homes, that should be available for younger people to buy. God we are selfish!!
Seems to me we are expected to be all things to all people, and just not complain.
I suggest that all the sectors, business, Government, our kids and the Retail group all get together and decide what approach they can all agree upon that will benefit them all equally to best advantage.
Perhaps the "Soylent Green" solution isn't so far away!
I for one am sick of all the attention we seem to be getting!
Very good. Couldn't have said it better myself. "Soylent Green" was one of those futuristic movies that makes one think - could it happen.
Bruce and Bev said
06:59 PM Apr 11, 2016
Well - heres four members who can speak eloquently on this show (and I am being totally sincere in saying that). You have expressed yourselves clearly and logically.
Now we need sensible mature people, like you, to voice our opinions and concerns for us.
It seems so odd that the Baby Boomers are being so picked on as an age group - is it jealousy on the part of the younger generations????
C'mon someone in Sydney who can speak sensibly - help us all out and do the show. It would be great if you could get the transcript put onto this site with some help from Cindy who I'm sure will arrange it.
Phil C said
07:33 PM Apr 11, 2016
Can open, worms everywhere.. yikes people like the media make my blood boil at times. Why are they boomer bashing? My parents generation and the one before caused all sorts of havoc, so lay off. Glad Im not in Sydney to have my bit to say.
Both our kids are doing well for themselves, one is a double doctoral scientist and the other a teacher. They have informed us they dont want any "inheritance" as it is an idea from the past, beside that they have plenty of money. So we are having a ball spending our time and money on ourselves, frankly who gives a red rodents rectum?
I think there are a lot of folks VERY jealous of the way we have chosen to live, we actually have a life and enjoy it to the hilt. I hope the soylent green solution never happens, but it may become some misled polly's platform in the future. (apologies to Cindy for getting political).
Rant over
Cupie said
08:10 PM Apr 11, 2016
IF you have forgotten the movie Soylent Green .. here it is on line & FREE.
" red rodents rectum " mmmm is that the same as a green one Phil ? Come to think of it I haven't seen either. What does one look like mate?
dazren said
09:30 PM Apr 11, 2016
Hmm !! The Movie '' Soylent Green " was that the futuristic movie, about some catastrophy that prevented any Food to be Grown on Earth, !! and The Government had a Monoply on supplying a Green biscuit that allowed mankind to get nutrition and survive ! -- And some Radical group decided the Government should not have such control,and set out to find the source and Ingredients for making it, -- But was horrified to find it !!
Desert Dweller said
05:10 AM Apr 12, 2016
Let's enjoy ourselves, we're the last generation to be able to do what we're doing. Excess population growth, ecosystem collapse, climate change, extreme weather events, terrorism, global financial collapse & incurable disease will see an end to it all. But boy have us ''baby boomers'' had a great time & continue to do so. Spend as much as you like while you can because there's not going to be anyone around to spent it if you leave it for future generations. We reckon why stress over something that's completely out of our control?
-- Edited by Desert Dweller on Tuesday 12th of April 2016 05:24:05 AM
dorian said
07:31 AM Apr 12, 2016
Is it just my imagination, or are the young generation hopping straight into new cars rather than buying secondhand cars as we used to do? ISTM that our generation were comparatively frugal, biding our time and saving for the things we accumulated over our lifetimes. Today's generation strikes me as having a mercenary, materialistic, greedy, selfish, vacuous, me-me-me, now-now-now attitude.
erad said
08:14 AM Apr 12, 2016
My wife and I are pre-baby boomers. Our parents worked very hard for what they had, and apprediated it too. They survived through the great depression. We never bought anything on credit unless it was essential - we waited until we had the money. We have not skimped on anything - if we want it we get it when we have the money. We are not wealthy - far from it, but we own what we have and appreciate it too.
Compare that with our offspring. The in-law wanted to have a million dollars by age 40. This was achieved, except that it is a million dollars of debt!!! Modern generation people seem to want everything and Right Blood Now! Frankly we are petrified at the thought of that much debt. They have 2 kids and both parents are working full time. Come school holidays, we are expected to travel over 1500 km to look after the kids if they cannot arrange alternative care. There is a lot of stress in the family.
A friend of ours once said that you can only eat with one spoon at a time. Maybe we lack initiative and drive, but gee we are relaxed and happy. Money isn't everything. Before retirement, we made some serious investment decisions because we could see that living on a pension only could be a bit tight. We doubled our repayments on the loans and cleared the debts early. That was hard because offspring was at Uni at the time, but we made through OK. We had cars over 15 years old, and a caravan 17 years old, but they did the job for us. Now, we have 3 yr old cars and a 16 yr old caravan. They do the job quite well for us. Meanwhile, offspring + family spend their holidays in 5 star hotels in Fiji or elsewhere, with little intention of reducing the massive debts thay have. Maybe we do lack inititiave and drive, but I know who is happier...
Cupie said
08:40 AM Apr 12, 2016
dorian wrote:
Is it just my imagination, or are the young generation hopping straight into new cars rather than buying secondhand cars as we used to do? ISTM that our generation were comparatively frugal, biding our time and saving for the things we accumulated over our lifetimes. Today's generation strikes me as having a mercenary, materialistic, greedy, selfish, vacuous, me-me-me, now-now-now attitude.
Couldn't agree more.
I think that it is a societal thing.
Mind you both of my kids are very hardworking and responsible in most matters but but do like to have new cars, homes with all the mod cons, all the latest technology & entertainment, private schooling for the kids & the like. For our part we avoided debt as much as possible and focused on accumulating modest assets and living with less by not purchasing depreciating stuff, like cars, on credit. SWMBO took 10 years off work at the critical time to focus on rearing the children & we struggled on with a home mortgage and young family on one wage. Even so, we were able to retire early with no debts and enough assets to assist in funding our retirement.
ps. If you want to see the previously mentioned movie Soylent Green, just google the name. Lots of free copies available. My attempt to insert a link was rejected as possible SPAM.
LLD said
11:31 AM Apr 12, 2016
Finance companies work on the principle that people should put themselves in debt up to their teeth buying all the good things in life and then enjoy them whilst paying them off. In my parents day, the only thing you borrowed for was a simple house (2 bedroom post-war rough-cast in our neighbourhood), then saved to enjoy the good things later in life. Downside is that by the time you have money to buy those things you wanted, you are beyond wanting them or you fall off the perch very shortly after you retire.
My grandparents struggled thru WW1 and the depression and my parents struggled after WW2. I never really struggled but was frugal due to my upbringing. However, I think we spoiled our kids because of our frugal times and our kids have never really had it tough.
Phil C said
11:52 AM Apr 12, 2016
Dougwe wrote:
" red rodents rectum " mmmm is that the same as a green one Phil ? Come to think of it I haven't seen either. What does one look like mate?
Hi Dougwe
What I meant was a rats ar$e mate. I have emailed SBS and Alexander has answered. Could be an interesting debate.
Hope you are well mate. If it's green it's been dead a while mate lol
Dougwe said
05:02 PM Apr 12, 2016
Bugga, now I know what the smell is.
Tony Bev said
06:58 PM Apr 12, 2016
Hello everyone I believe that I am a typical baby boomer, born in 1947.
I spend my earnings frugally, as I personally have no faith in the ability of our government, to look after us, in our old age.
I was slightly over the threshold to obtain an Old Age pension, as I was one of those who were fortunate to have employment, who actually liked employment, and always did the overtime. In hindsight I would have been slightly better off financially, as a pensioner, than the Self Funded Retiree, which I am. I budget myself to spend, just over the amount, I would have received as a pensioner.
In retrospect I have always thought twice, and brought once. Apart from my very first new car, (only ever had two brand new ones), I had managed to stay out of the clutches, of the hire purchase people
I have a house which I shall keep, as her who must be obeyed, says that she will not leave until she is in a box. If my better half had liked travelling, we would have most probably sold the house.
I plan to be on the road for about six months of each year. I calculate my fuel cost only. Before I start the trip, I would have this fuel amount set to one side
I do expect to pay more for food, and fuel, on the road, as I like to support the smaller towns, which support free or low cost camping
I have no need, or desire, to visit caravan parks.
I am led to believe that a great man once said. (I apologise for the four letter swear word, which is coming). If you have any money left when you die, then you did not work hard enough to spend it.
I will apologise in advance, for jumping on my soapbox and having a rant, but I do not believe that we should be stereotyped as Baby Boomers, in respect that we should be asked, or told, how to spend our money
Like others I have heard stories that the Baby Boomers are moaners and groaners, who demanded everything from their governments. My answer to that, from firsthand experience, is bull excreta.
Set out below are the facts as I see them, with my usual caveat, when I give an opinion, that I could be wrong
The Baby Boomers were not responsible for the Great Depression, which in a roundabout way, led to WW2 WW2 was responsible for the demise of at least 80 million people. (Around 3% of the 1940 world population). In the times of uncertainty such as the Great Depression, and WW2, responsible parents had fewer children than they would normally have. This meant that the baby count was down, before the Baby Boomers came along. Modern medicines, such as Penicillin, started to decreased the death rate, which would have increased the fertility rate, and allow more Baby Boomers to survive Baby Boomers born in 1947, (in North West England), had double the amount of classrooms, because there were twice as many of us, than in previous, and following years. In 1962 at the end of our education opportunities, not all of my school friends obtained employment. I was fortunate to have finally obtained employment in early 1963, after six months of searching I felt fortunate to be able to walk through knee deep snow, to my designated coal mine training pit, around February 1963, when the buses were not running on some mornings, due to unexpected heavy overnight snowfalls, because I knew that some of my school friends, would probably never have the chance to gain employment. I felt fortunate to have only a one hour, three busses ride, to my employment, as other families had moved out of the area, to give their children (some of my school friends), a chance of gaining employment
In all sincerity, I say that if there is any problem with accommodating the so called Baby Boomers in the future, then those in authority should never point their finger at us. Firstly we did not ask, to be a Baby Boomer, and secondly, I personally take no responsible, for those in authority, not realising that we were on the way.
It would not have exactly been Rocket Science to realise:- Born 1947 Education 1952 until 1962 Employment 1962 until 2012 Retirement 2012 until 2041 or much later
Rant over and sorry for going a little off topic
Bruce and Bev said
07:16 PM Apr 12, 2016
Dorian. You are just SO right !!
My first vehicle (after a bush bike) was a Lambreta motor scootor I saved up for and painted house roof paint blue. My g/f and I had to push it up some steep hills in the area - but it was transport. Then I bought a Hillman Minx that I saved up for and cost me 75 pound (took me ages to get the money together from working part-time. Painted that with the same roof paint which I would leave out in the sun with the lid ajar so it thinned out and looked better). Changed the clutch plate myself and used to do all the routine motor work.
My 1st new car was a company one and my wife got a new Corolla 1.8 when we were in our late 20s - prior to that we made do with 2nd hand cars and bought stuff with cash we saved. The only money we ever borrowed was from a Bank for our houses.
We never expected or asked our parents for money, so were never disappointed with "NO!!!!"
Why should our kids expect it as a right now? (as it is we reckon we have given about $200K to our 2 kids for house deposits and recently lent - haha - $35K to our son to buy a new car.......doubt if we will see it back)
Most of our generation lived to our means without handouts from the Govt or or family. Why is it different now ???
New designer clothes, new cars, trips to Bali or Europe - I think the current generation is the spoilt generation
Neil n Chris said
08:13 PM Apr 12, 2016
All I can say is, "Lookshoory!" !!, .......all we had was hole in road...
Tony Bev said
09:28 PM Apr 12, 2016
Hello Neil n Chris Tongue in cheek
Are you saying that you had your very own luxurious, hole in the road, were you really that rich? We had to share our hole in the road, with others.
Getting back on topic Hello dorian & Bruce and Bev
As a Baby Boomer, I also received nothing from my parents, and they had never had to say NO, as I never asked for anything, as that was the norm, back in the day
As an explanation, and in defence of some of the younger generation, I think that there are people and people.
My children only ever received one second hand car from me, when they obtained their licence, and from that time onwards, only had moral support. They now both have their own homes, and still drive second hand cars.
Bryan said
09:00 AM Apr 13, 2016
As far as I'm concerned its my hard earned money to do what I like with. Couldn't give a shyte what generation Y in general are thinking, or anybody else including SBS and other media for that matter. Our kids are more than happy with their situation and that's all I care about.
I feel a lot better now I've got this off my chest.
Wizardofoz said
01:53 PM Apr 13, 2016
A summation of the so called "Baby Boomers" and "Pre-Baby Boomers"....
This is true!!
A Short Memoir
Born in the 1930's and early 40's, we exist as a very special age cohort. We are the last ones. We are the last, climbing out of the depression, who can remember the winds of war and the war itself with fathers and uncles going off. We are the last to remember ration books for everything from sugar to shoes to stoves. We saved tin foil and poured fat into tin cans. We saw cars up on blocks because tires weren't available and milk was delivered in a horse drawn cart.
We are the last who spent childhood without television; instead imagining what we heard on the radio. As we all like to brag, with no TV, we spent our childhood playing outside until the street lights came on. We did play outside and we did play on our own.
The lack of television in our early years meant, for most of us, that we had little real understanding of what the world was like. Our Saturday afternoons, if at the movies, gave us newsreels of the war and the holocaust sandwiched in between westerns and cartoons. Newspapers and magazines were written for adults. We are the last who had to find out for ourselves.
As we grew up, the country was exploding with growth. . Pent up demand coupled with new installment payment plans put factories to work. New roads would bring jobs and mobility. The veterans joined civic clubs and became active in politics. In the late 40's and early 50s the country seemed to lie in the embrace of brisk but quiet order as it gave birth to its new middle class. Our parents understandably became absorbed with their own new lives. They were free from the confines of the depression and the war. They threw themselves into exploring opportunities they had never imagined.
We weren't neglected but we weren't todays all-consuming family focus. They were glad we played by ourselves until the street lights came on. They were busy discovering the post war world.
Most of us had no life plan, but with the unexpected virtue of ignorance and an economic rising tide we simply stepped into the world and went to find out. We entered a world of overflowing plenty and opportunity; a world where we were welcomed. Based on our naïve belief that there was more where this came from, we shaped life as we went.
We enjoyed a luxury; we felt secure in our future. Of course, just as today, not all share in this experience. Depression poverty was deep rooted. Polio was still a crippler. The Korean War was a dark presage in the early 50's and by mid-decade school children were ducking under desks. China became Red China. Castro set up camp in Cuba and Khrushchev came to power.
We are the last to experience an interlude when there were no existential threats to our homeland. We came of age in the late 40's and 50's. The war was over and the cold war, terrorism, climate change, technological upheaval and perpetual economic insecurity had yet to haunt life with insistent unease.
Only we can remember both a time of apocalyptic war and a time when our world was secure and full of bright promise and plenty. We experienced both.
We grew up at the best possible time, a time when the world was getting better not worse.
We are the last ones.
Author unknown
-- Edited by Wizardofoz on Wednesday 13th of April 2016 01:55:30 PM
Tamey said
04:23 PM Apr 14, 2016
Well may Gen Y have a whinge! They are the same ones that live together several years before they get married, have a roaring social life and spend willy nilly. They then spend about $20K on a wedding and about the same on a honeymoon even though they have shared a cot for years. When they buy a home, they expect a huge first home owners grant which we never got. They then have 2 new cars in the driveway outside the home with all modern furniture and not forgetting the media room. Not content with second hand stuff and cars like we did! then along come the kids, so they get maternity leave- we never did, and the baby bonus - we never did, and all the other payments from the public purse - we never got. They also get super which we didn't get until late in our working lives. and they complain!!
If all the baby boomers who volunteer across Australia ceased volunteering, the country would come to a screaming halt!
That's the end of my rant
aussie_paul said
05:17 PM Apr 14, 2016
Unfortunately Tamey, sadly true for the majority of genYers, not all though.
Aussie Paul.
dorian said
07:34 AM Apr 15, 2016
I used to watch "The Chase" but am now finding it more and more annoying. What I particularly don't like is when people take a backward step, sometimes even bringing a negative amount to the kitty, and then share equally in the efforts of others. It could me my anti-GenY bias, but ISTM that the majority of these mercenary lowlives are young people. It's bad enough that someone would stoop so low in secret, but these people disgrace themselves on national TV.
ISTM that the older generation have integrity and moral values, whereas the young generation just don't care. In my day we were protesting against war and social injustice, and this was reflected in our music, but today the inane (c)rap that passes for music is full of rage and foul language. How ironic is it that in the age of 20Hz-20kHz digital hi-fidelity all we hear is 20Hz doof-doof-doof.
-- Edited by dorian on Friday 15th of April 2016 07:36:33 AM
03_Troopy said
08:09 AM Apr 15, 2016
dorian wrote:
I used to watch "The Chase" but am now finding it more and more annoying. What I particularly don't like is when people take a backward step, sometimes even bringing a negative amount to the kitty, and then share equally in the efforts of others. It could me my anti-GenY bias, but ISTM that the majority of these mercenary lowlives are young people. It's bad enough that someone would stoop so low in secret, but these people disgrace themselves on national TV.
ISTM that the older generation have integrity and moral values, whereas the young generation just don't care. In my day we were protesting against war and social injustice, and this was reflected in our music, but today the inane (c)rap that passes for music is full of rage and foul language. How ironic is it that in the age of 20Hz-20kHz digital hi-fidelity all we hear is 20Hz doof-doof-doof.
-- Edited by dorian on Friday 15th of April 2016 07:36:33 AM
Yes we should have looked after our hearing a bit better in the olden days eh......................
03_Troopy said
08:29 AM Apr 15, 2016
I thought the "Grumpy Old Men" series had been done to death anyway........
rockylizard said
08:30 AM Apr 15, 2016
dorian wrote:
I used to watch "The Chase" but am now finding it more and more annoying. What I particularly don't like is when people take a backward step, sometimes even bringing a negative amount to the kitty, and then share equally in the efforts of others. It could me my anti-GenY bias, but ISTM that the majority of these mercenary lowlives are young people. It's bad enough that someone would stoop so low in secret, but these people disgrace themselves on national TV.
ISTM that the older generation have integrity and moral values, whereas the young generation just don't care. In my day we were protesting against war and social injustice, and this was reflected in our music, but today the inane (c)rap that passes for music is full of rage and foul language. How ironic is it that in the age of 20Hz-20kHz digital hi-fidelity all we hear is 20Hz doof-doof-doof.
Gday...
Yep ... and that changed the world hasn't it
I was one of the protesters (still am ) but our generation just didn't make any difference then ... and as we grew older,we simply became the 'establishment' we protested about and the war and social justice has continued .... almost unabated.
Hi all,
We have been contacted by SBS to appeal for people to take part in a debate regarding how baby boomers spend their earnings. The following are the details of their request for participants:
SBS in Sydney is hosting a studio forum debate looking at the intergenerational divide between Baby Boomers and Generation Y.
Recently...there's been a fair bit of 'Boomer Bashing' in the media....including accusations of egotism, statements that Boomers have had an easy ride and will prove a burden to future generations etc etc.
One of the more contentious accusations is that Boomers should feel guilty for spending their wealth rather than accumulating an inheritance for their children. We're therefore keen to address that issue....and speak to some Boomers who are spending their wealth, which I'm sure they'd argue they've earned the right to do!
The forum will be held Thursday May 12th in Sydney at 6pm....but we may also consider simply shooting a short video interview to use within the debate.
Initially, it'd be great for those who are interested to get in touch on the following email....alexander.dejong@sbs.com.au
Oh Boy....now where did I put that can of worms ....and the can opener????
Cheers Keith
On one hand, we are accused of spending any and all money we have managed to put aside in savings or superannuation, and not leaving an inheritance for our children.
Then on the other hand, we are under all sorts of pressure, from business and Government to ensure that we fund ourselves, use our money to ensure we don't "double dip", and make sure that we spend all our money, before asking the Government for any pension or assistance. I also saw the other day the Retail sector complaining that we aren't buying enough Winter Clothing due to the fine weather
Then, we have the audacity to live longer and not die, filling hospitals, doctors surgeries and then remaining in our homes, that should be available for younger people to buy. God we are selfish!!
Seems to me we are expected to be all things to all people, and just not complain.
I suggest that all the sectors, business, Government, our kids and the Retail group all get together and decide what approach they can all agree upon that will benefit them all equally to best advantage.
Perhaps the "Soylent Green" solution isn't so far away!
I for one am sick of all the attention we seem to be getting!
Very good. Couldn't have said it better myself. "Soylent Green" was one of those futuristic movies that makes one think - could it happen.
Now we need sensible mature people, like you, to voice our opinions and concerns for us.
It seems so odd that the Baby Boomers are being so picked on as an age group - is it jealousy on the part of the younger generations????
C'mon someone in Sydney who can speak sensibly - help us all out and do the show. It would be great if you could get the transcript put onto this site with some help from Cindy who I'm sure will arrange it.
Both our kids are doing well for themselves, one is a double doctoral scientist and the other a teacher. They have informed us they dont want any "inheritance" as it is an idea from the past, beside that they have plenty of money. So we are having a ball spending our time and money on ourselves, frankly who gives a red rodents rectum?
I think there are a lot of folks VERY jealous of the way we have chosen to live, we actually have a life and enjoy it to the hilt. I hope the soylent green solution never happens, but it may become some misled polly's platform in the future. (apologies to Cindy for getting political).
Rant over
IF you have forgotten the movie Soylent Green .. here it is on line & FREE.
https://www.google.com.au/webhp?sourceid=chrome-instant&rlz=1C1GGGE_enAU488AU570&ion=1&espv=2&ie=UTF-8#q=soylent%20green%20watch%20online
Let's enjoy ourselves, we're the last generation to be able to do what we're doing. Excess population growth, ecosystem collapse, climate change, extreme weather events, terrorism, global financial collapse & incurable disease will see an end to it all. But boy have us ''baby boomers'' had a great time & continue to do so. Spend as much as you like while you can because there's not going to be anyone around to spent it if you leave it for future generations. We reckon why stress over something that's completely out of our control?
-- Edited by Desert Dweller on Tuesday 12th of April 2016 05:24:05 AM
Compare that with our offspring. The in-law wanted to have a million dollars by age 40. This was achieved, except that it is a million dollars of debt!!! Modern generation people seem to want everything and Right Blood Now! Frankly we are petrified at the thought of that much debt. They have 2 kids and both parents are working full time. Come school holidays, we are expected to travel over 1500 km to look after the kids if they cannot arrange alternative care. There is a lot of stress in the family.
A friend of ours once said that you can only eat with one spoon at a time. Maybe we lack initiative and drive, but gee we are relaxed and happy. Money isn't everything. Before retirement, we made some serious investment decisions because we could see that living on a pension only could be a bit tight. We doubled our repayments on the loans and cleared the debts early. That was hard because offspring was at Uni at the time, but we made through OK. We had cars over 15 years old, and a caravan 17 years old, but they did the job for us. Now, we have 3 yr old cars and a 16 yr old caravan. They do the job quite well for us. Meanwhile, offspring + family spend their holidays in 5 star hotels in Fiji or elsewhere, with little intention of reducing the massive debts thay have. Maybe we do lack inititiave and drive, but I know who is happier...
Couldn't agree more.
I think that it is a societal thing.
Mind you both of my kids are very hardworking and responsible in most matters but but do like to have new cars, homes with all the mod cons, all the latest technology & entertainment, private schooling for the kids & the like. For our part we avoided debt as much as possible and focused on accumulating modest assets and living with less by not purchasing depreciating stuff, like cars, on credit. SWMBO took 10 years off work at the critical time to focus on rearing the children & we struggled on with a home mortgage and young family on one wage. Even so, we were able to retire early with no debts and enough assets to assist in funding our retirement.
ps. If you want to see the previously mentioned movie Soylent Green, just google the name. Lots of free copies available. My attempt to insert a link was rejected as possible SPAM.
My grandparents struggled thru WW1 and the depression and my parents struggled after WW2. I never really struggled but was frugal due to my upbringing. However, I think we spoiled our kids because of our frugal times and our kids have never really had it tough.
Hi Dougwe
What I meant was a rats ar$e mate. I have emailed SBS and Alexander has answered. Could be an interesting debate.
Hope you are well mate. If it's green it's been dead a while mate lol
Hello everyone
I believe that I am a typical baby boomer, born in 1947.
I spend my earnings frugally, as I personally have no faith in the ability of our government, to look after us, in our old age.
I was slightly over the threshold to obtain an Old Age pension, as I was one of those who were fortunate to have employment, who actually liked employment, and always did the overtime.
In hindsight I would have been slightly better off financially, as a pensioner, than the Self Funded Retiree, which I am.
I budget myself to spend, just over the amount, I would have received as a pensioner.
In retrospect I have always thought twice, and brought once. Apart from my very first new car, (only ever had two brand new ones), I had managed to stay out of the clutches, of the hire purchase people
I have a house which I shall keep, as her who must be obeyed, says that she will not leave until she is in a box.
If my better half had liked travelling, we would have most probably sold the house.
I plan to be on the road for about six months of each year. I calculate my fuel cost only.
Before I start the trip, I would have this fuel amount set to one side
I do expect to pay more for food, and fuel, on the road, as I like to support the smaller towns, which support free or low cost camping
I have no need, or desire, to visit caravan parks.
I am led to believe that a great man once said. (I apologise for the four letter swear word, which is coming). If you have any money left when you die, then you did not work hard enough to spend it.
I will apologise in advance, for jumping on my soapbox and having a rant, but I do not believe that we should be stereotyped as Baby Boomers, in respect that we should be asked, or told, how to spend our money
Like others I have heard stories that the Baby Boomers are moaners and groaners, who demanded everything from their governments. My answer to that, from firsthand experience, is bull excreta.
Set out below are the facts as I see them, with my usual caveat, when I give an opinion, that I could be wrong
The Baby Boomers were not responsible for the Great Depression, which in a roundabout way, led to WW2
WW2 was responsible for the demise of at least 80 million people. (Around 3% of the 1940 world population).
In the times of uncertainty such as the Great Depression, and WW2, responsible parents had fewer children than they would normally have. This meant that the baby count was down, before the Baby Boomers came along.
Modern medicines, such as Penicillin, started to decreased the death rate, which would have increased the fertility rate, and allow more Baby Boomers to survive
Baby Boomers born in 1947, (in North West England), had double the amount of classrooms, because there were twice as many of us, than in previous, and following years.
In 1962 at the end of our education opportunities, not all of my school friends obtained employment.
I was fortunate to have finally obtained employment in early 1963, after six months of searching
I felt fortunate to be able to walk through knee deep snow, to my designated coal mine training pit, around February 1963, when the buses were not running on some mornings, due to unexpected heavy overnight snowfalls, because I knew that some of my school friends, would probably never have the chance to gain employment.
I felt fortunate to have only a one hour, three busses ride, to my employment, as other families had moved out of the area, to give their children (some of my school friends), a chance of gaining employment
In all sincerity, I say that if there is any problem with accommodating the so called Baby Boomers in the future, then those in authority should never point their finger at us. Firstly we did not ask, to be a Baby Boomer, and secondly, I personally take no responsible, for those in authority, not realising that we were on the way.
It would not have exactly been Rocket Science to realise:-
Born 1947
Education 1952 until 1962
Employment 1962 until 2012
Retirement 2012 until 2041 or much later
Rant over and sorry for going a little off topic
My first vehicle (after a bush bike) was a Lambreta motor scootor I saved up for and painted house roof paint blue. My g/f and I had to push it up some steep hills in the area - but it was transport. Then I bought a Hillman Minx that I saved up for and cost me 75 pound (took me ages to get the money together from working part-time. Painted that with the same roof paint which I would leave out in the sun with the lid ajar so it thinned out and looked better). Changed the clutch plate myself and used to do all the routine motor work.
My 1st new car was a company one and my wife got a new Corolla 1.8 when we were in our late 20s - prior to that we made do with 2nd hand cars and bought stuff with cash we saved. The only money we ever borrowed was from a Bank for our houses.
We never expected or asked our parents for money, so were never disappointed with "NO!!!!"
Why should our kids expect it as a right now? (as it is we reckon we have given about $200K to our 2 kids for house deposits and recently lent - haha - $35K to our son to buy a new car.......doubt if we will see it back)
Most of our generation lived to our means without handouts from the Govt or or family. Why is it different now ???
New designer clothes, new cars, trips to Bali or Europe - I think the current generation is the spoilt generation
Hello Neil n Chris
Tongue in cheek
Are you saying that you had your very own luxurious, hole in the road, were you really that rich?
We had to share our hole in the road, with others.
Getting back on topic
Hello dorian & Bruce and Bev
As a Baby Boomer, I also received nothing from my parents, and they had never had to say NO, as I never asked for anything, as that was the norm, back in the day
As an explanation, and in defence of some of the younger generation, I think that there are people and people.
My children only ever received one second hand car from me, when they obtained their licence, and from that time onwards, only had moral support.
They now both have their own homes, and still drive second hand cars.
As far as I'm concerned its my hard earned money to do what I like with. Couldn't give a shyte what generation Y in general are thinking, or anybody else including SBS and other media for that matter. Our kids are more than happy with their situation and that's all I care about.
I feel a lot better now I've got this off my chest.
A summation of the so called "Baby Boomers" and "Pre-Baby Boomers"....
-- Edited by Wizardofoz on Wednesday 13th of April 2016 01:55:30 PM
If all the baby boomers who volunteer across Australia ceased volunteering, the country would come to a screaming halt!
That's the end of my rant
Unfortunately Tamey, sadly true for the majority of genYers, not all though.
Aussie Paul.
I used to watch "The Chase" but am now finding it more and more annoying. What I particularly don't like is when people take a backward step, sometimes even bringing a negative amount to the kitty, and then share equally in the efforts of others. It could me my anti-GenY bias, but ISTM that the majority of these mercenary lowlives are young people. It's bad enough that someone would stoop so low in secret, but these people disgrace themselves on national TV.
ISTM that the older generation have integrity and moral values, whereas the young generation just don't care. In my day we were protesting against war and social injustice, and this was reflected in our music, but today the inane (c)rap that passes for music is full of rage and foul language. How ironic is it that in the age of 20Hz-20kHz digital hi-fidelity all we hear is 20Hz doof-doof-doof.
-- Edited by dorian on Friday 15th of April 2016 07:36:33 AM
Yes we should have looked after our hearing a bit better in the olden days eh......................
Gday...
I was one of the protesters (still am
) but our generation just didn't make any difference then ... and as we grew older,we simply became the 'establishment' we protested about and the war and social justice has continued .... almost unabated. 
Cheers - John