Discussion about this post

User's avatar
Crixcyon's avatar

It makes sense that the boomers would have the most wealth since they have worked the longest and have had time to accumulate it. Don't worry though, the boomers are dying off already and the pace will pick up in the next 5 years.

As a 75 year old boomer (I despise that title) I am spending less and getting rid of junk, not accumulating it. I try to by used things if I need them and don't worry about being able to afford a lifestyle of running around all day like a headless chicken thinking that in my last years I have some 10,000 item bucket list I have to spend every waking moment checking off.

I don't think it's safe to assume that everyone in the top 10% are all boomers. Many very rich people are much younger. I know many boomers who are barely surviving and we always hear about the millions of retirees living on Social Security and not much else. Not much boom there.

I'd bet that much of that boomer spending is on supremely over-priced and over-valued medical care. It does make up almost 20% of the economy.

Expand full comment
Rockville Mom's avatar

All largely correct, but I would add a little nuance. Boomers were told incessantly to go to college, buy a house and save for retirement. It worked for us, but the game changed over time and it’s not been the same for a while, especially re: the benefits of an increasingly expensive, and often useless, college degree.

Expand full comment
37 more comments...

No posts