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Ridgemont's avatar

It’s a very odd situation: so called ‘Boomers’ seem to involve anyone before 2000.

And there are different dynamics for each generation. My mum (1940 Dob) inherited post war poverty but invested and was able to watch her property purchase accumulate worth as inflation/recovery took effect, but it was extremely hard.

I (GenX) came of age at the end of the eighties where that brief flourishing of growth and low inflation saw my parents actually genuinely become materially more wealthy, but I faced a job market flat on its face and inflation going bonkers by the early nineties. I only mustered enough collateral in the early teenies to buy a house. Before it was rent rent rent. 15 years of rent and saving.

I can’t speak for all the following generations but my step son (born 2000) and therefore I think a GenZ has got eventually a decent job but is still renting. He probably won’t buy a house until his late 30s in as much as I did. The difference will be the cascade effect of the end of the boomer generation. I recently inherited 100k through the house sale of my deceased mum’s property.

Most of that is being reinvested. Eventually my sons will receive a similar boost. Providing I continue my path to avoid paying for a care home by aiming to shuffle off this mortal coil in my seventies.

The Boomer effect will cascade for some eventually, but its effect will be uneven, and longevity and low retirement ages aren’t helping.

But the younger generations need to make tactical decisions like the older generations did. House share in the sticks. Commute from lower value areas and put the money into savings. Don’t expect the ‘model’ in your early thirties. The model doesn’t exist if in fact it ever did.

Be rational not resentful of older generations.

There are opportunities for younger people I never had. Not least the crushing polarity of education results which is rapidly disappearing in the rear view mirror.

The government can and should help by closing down the absurdity of the triple lock.

Nicholas Hughes's avatar

Categorising people into convenient and arbitrary age groups is bunk. The term "Boomer" and it's offspring was originally coined by lifestyle journalists in the 70s for glossy coffee table magazines. It's a pseudo science and has no place in sociology.

The idea that because you were born into a randomly determined 20 year age range that determines your tastes, your cultural markers, your personality and political opinions is stupid when you think about it. So someone born in 1946 shares all these "Boomer" traits with someone born in 1964? Ludicrous.

Lumping people as "Boomer", "Zoomers" etc is how the Right do identity politics. They use it to engineer intergenerational conflict. The people smeared as Boomers, and it is always used as a slur, never a compliment, are our parents and grandparents. Reject the terms, don't play identity politics and divide and rule. Don't be a leftist.

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