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Baby Boomers are 25% of the population and control over 50% of the wealth!

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About time the boomers got a dose of reality.
www.smh.com.au

Wealth divide between young and old narrowing

The gap between the wealth of the oldest and youngest Australians is shrinking for the first time in seven years.
www.smh.com.au www.smh.com.au
From the article:
The record gulf between the wealth and wellbeing of the oldest and youngest Australians is shrinking for the first time in seven years despite the coronavirus pandemic, but some of the improvement has been at the expense of retirees who are increasingly needing help for homelessness.

In the past 12 months there has been a reduction in inequality between age groups on the 2021 Australian Actuaries Intergenerational Equity Index. This is the second year the index has been produced but a back series shows this is the first decrease in the divide in financial, social and health outcomes between those 25 to 34 years old and 65 to 74 years old since 2013.
 
sptrawler said:
About time the boomers got a dose of reality.
www.smh.com.au

Wealth divide between young and old narrowing

The gap between the wealth of the oldest and youngest Australians is shrinking for the first time in seven years.
www.smh.com.au www.smh.com.au
From the article:
The record gulf between the wealth and wellbeing of the oldest and youngest Australians is shrinking for the first time in seven years despite the coronavirus pandemic, but some of the improvement has been at the expense of retirees who are increasingly needing help for homelessness.

In the past 12 months there has been a reduction in inequality between age groups on the 2021 Australian Actuaries Intergenerational Equity Index. This is the second year the index has been produced but a back series shows this is the first decrease in the divide in financial, social and health outcomes between those 25 to 34 years old and 65 to 74 years old since 2013.
Click to expand...
newsflash: newborns are poor
 
qldfrog said:
newsflash: newborns are poor
Click to expand...
Financial planners tell the younger generation to invest for their old age!!!

Baby Boomers did exactly that yet are criticised for it, I would suggest that a person who has worked for 40 years should have more money than one who has worked for four years

Kind of weird criticising someone for saving up a bit of money for their old age
 
won't bother reading the thread.. which started in 2007 with the heading

Baby Boomers are 25% of the population and control over 50% of the wealth!​


.. and here we are 14 years on, and this cohort, defined as born between 1946 and 1964, has, on average, mean or median(?), passed through peak earning and wealth accumulation to winding down/ less hours/ retirement and drawing on the savings.

As economist Ronald H. Coase said " if you torture the data long enough, it will confess to anything”
 
Just normal age wealth curves
Start woth nothing work gather wealth and start savings reach peak consumption.retire or slow down and burn savings/ giveaway to children grand children and die broke after a few months in aged care at 300$ a day the mash potatoes ulcers treatment.harsh but not reserved to boomers,just called life...as it should be if i dare.
Any government interference is tax greed and recipe for disaster.
PS i am not a boomer. Yet retired
 
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