Australian (ASX) Stock Market Forum

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

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Julia said:
Just on the point of the renovation type shows, any I've seen don't appear to have baby boomers as their focus - the people in them always seem to be much younger. The baby boomers I know are absolutely not into renovation.

Julia
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That's only because younger people look better on TV...
 
Kimosabi said:
In 20 years this thread title will be Gen Xer's are 25% of the population and control over 50% of the wealth!

And 20 years after that it will Gen Yer's are 25% of the population and control over 50% of the wealth!
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In 25 years the majority of Boomers will still be alive (they incidently have a longer life expectancy than x and y), 1 in 4 Australians will be aged over 60, between Boomers, X and Y they will control in my estimate 80pc of the wealth.

The way things are going each generation after the Boomers seems to be getting in a worse predicament.
 
They inherited the post-war wealth of the 50's and were also able take advantage of the prosperity of the 60s, 70s and 80s, before the world turned to rubbish, filled-up with rubbish, and then started peddling more rubbish (Chinese trinkets).

Chinese export increased 50% last month, but what are they exporting? We have a choice of cheap cr*p or more cheap cr*p. I hate Chinese products. But it addresses previously non-liquid markets - the poorer sectors - giving them 'buying power' with money they dont really have.

The sub-primes were also geared towards a poor, non-liquid market, unsuccessfully finding desperate ways to make it liquid, sucking the last dollars from where there was no money.

When this boom finally and truly bursts maybe 2008, its gonna be real ugly, ..... so much for flower power .... strangely the progression reflects a boomers lifespan from birth to growth to decrepidation .... and finally .....

MHO - DYOR
 
Buster said:
And then theres this..

Oh woe is us, how we suffer. Yet can’t wait to screw somebody over.. You guys crack me up.. :rolleyes:
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I don't have much sympathy for anyone stupid enough to be buying a home right now or for the last few years. And at the end of the day, I'll only be screwing people over that have been screwing my friends over.


insider said:
I'm only 20 and I'm studying to do real estate development and I'm kicking a*** in the share market... why? Because I'm no sheep and I choose not to go to the slaughter... Yeah we can all have our sob stories of how 60 years ago how I had to work at the factory at the age of 12 and blah blah and support this and that... (mind you I'm currently working 5 unpaid days a week helping my parents out and going to Uni 5 days a week doing 9 subjects (and getting HDs)) I'm not going to cry about it, but I'm proud of it... I soldier on and get the task done... I look at the current housing situation and look for solutions... I'm rubbing my hands together... What separates us is that we think laterally...
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Pretty much. Some people have it tougher than others no matter what time frame they are living in. I was homeless for a period as a teenager. You definitely can't paint all young people or all old people with the same brush. I was at Uni. full time, whilst getting a TAFE Diploma and starting my own business. Next week I'm looking at an 80 hour week, hands on (literally). It's not something I dwell on or complain about. So I resent being called "emo" like a lot of you seem to be labelling us as.

As to the Baby Boomer parent issue. Well, I've spoken to my parents about it. And I've said to them if they think I am going to look after them in old age they can go and get F*CKED! They didn't raise me in a safe environment so I fail to see why I should make their retirement safe. They know this, understand this and accept it.
 
chops_a_must said:
As to the Baby Boomer parent issue. Well, I've spoken to my parents about it. And I've said to them if they think I am going to look after them in old age they can go and get F*CKED! They didn't raise me in a safe environment so I fail to see why I should make their retirement safe. They know this, understand this and accept it.
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:D thats funny!

MHO - DYOR
 
chops_a_must said:
.. They didn't raise me in a safe environment so I fail to see why I should make their retirement safe. They know this, understand this and accept it.
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Lol, and while you're at it, saboutage their airconditioner - teach em (belatedly) that they shouldn't have stuffed up the environment !! ;)

PS thought for the day.. "Natural attrition" that's what happens in an employment downturn because BB hold the purse strigs (and the jobs), and their positions are not filled by anyone, specially not the X and Y's waiting in the jobs queue :2twocents.

PPS The good news for X and Y is that their votes will eventually swamp the BB (if it gets to generational war that is) :) - I can see the day when a party wins called the "STOP-MAKING-OLDIES-LIVE-LONGER-PARTY".

or "PEOPLE SHOULD BE ALLOWED TO LIVE IN A CARPORT and/or CARAVAN" party ? lol - many BB-ers did after all :)
 
chops_a_must said:
As to the Baby Boomer parent issue. Well, I've spoken to my parents about it. And I've said to them if they think I am going to look after them in old age they can go and get F*CKED! They didn't raise me in a safe environment so I fail to see why I should make their retirement safe. They know this, understand this and accept it.
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I tell my parents that I don't care about any inheritence, I just don't want to have to pay for them when they're old.

Saying this, I have taken an active part in helping them secure the funds they need for their retirement.
 
chops_a_must said:
I don't have much sympathy for anyone stupid enough to be buying a home right now or for the last few years. And at the end of the day, I'll only be screwing people over that have been screwing my friends over.



Pretty much. Some people have it tougher than others no matter what time frame they are living in. I was homeless for a period as a teenager. You definitely can't paint all young people or all old people with the same brush. I was at Uni. full time, whilst getting a TAFE Diploma and starting my own business. Next week I'm looking at an 80 hour week, hands on (literally). It's not something I dwell on or complain about. So I resent being called "emo" like a lot of you seem to be labelling us as.

As to the Baby Boomer parent issue. Well, I've spoken to my parents about it. And I've said to them if they think I am going to look after them in old age they can go and get F*CKED! They didn't raise me in a safe environment so I fail to see why I should make their retirement safe. They know this, understand this and accept it.
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Chops sounds like you've got a very nice supportive family unit. I don't think it really matters whether you're a baby boomer, gen x, gen y, whatever, if it's all about you, then it's all about you, eh?
 
Lucky said:
Chops sounds like you've got a very nice supportive family unit. I don't think it really matters whether you're a baby boomer, gen x, gen y, whatever, if it's all about you, then it's all about you, eh?
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Well. Why should you give the time and resources to people that aren't prepared to do the same? I have some great friends and would rather help them out like I have had to do over the last year or so. i.e. paying their rent for them etc.
 
chops_a_must said:
I have some great friends and would rather help them out like i.e. paying their rent for them etc.
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chops
can we assume
a) they are female ?
b) that you had to keep them from the foggy foggy dew, ? and
c) they'll pay your rent if things go pearshaped in the ASX ? ;)
 
2020hindsight said:
chops
can we assume
a) they are female ?
b) that you had to keep them from the foggy foggy dew, ? and
c) they'll pay your rent if things go pearshaped in the ASX ? ;)
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a) no
b) yes
c) I would hope so! Lol!
 
2020hindsight said:
chops
can we assume
a) they are female ?
b) that you had to keep them from the foggy foggy dew, ? and
c) they'll pay your rent if things go pearshaped in the ASX ? ;)
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I'd hope so for chops sake... otherwise chops may have a boundaries issue and believe me I've had ex girlfriends take advantage of it from other guys... The prettier the girl the less she needs to spend... I won't judge because believe it or not there are some great friends out there that wish you all the best and don't act like crabs in a bucket like some people i know... but If you do pay their rent keep a record of it and maybe pay electronically or by cheque so that you get a copy and proof you gave them money in case one does a runner on ya... good luck...

What the hell is foggy foggy dew? I'm getting a headache trying to figure it out :confused:
 
Just an old song m8 ;) - even predates the BB'ers lol.
http://www.contemplator.com/ireland/fogyfogy.html
This tune appeared on a broadside circa 1815. Burl Ives, however, categorizes this as a tune from Colonial America. An earlier tune "when I First Came To Court"was licensed in 1689, but this a revision of that tune done in the late 18th or early 19th century.

When I was a bachelor, I liv'd all alone
I worked at the weaver's trade
And the only, only thing that I did that was wrong
Was to woo a fair young maid.
I wooed her in the wintertime
Part of the summer, too
And the only, only thing that I did that was wrong
Was to keep her from the foggy, foggy dew.

One night she knelt close by my side
When I was fast asleep.
She threw her arms around my neck
And she began to weep.
She wept, she cried, she tore her hair
Ah, me! What could I do?
So all night long I held her in my arms
Just to keep her from the foggy foggy dew.

Again I am a bachelor, I live with my son
We work at the weaver's trade.
And every single time I look into his eyes
He reminds me of that fair young maid.
He reminds me of the wintertime
Part of the summer, too,
And the many, many times that I held her in my arms
Just to keep her from the foggy, foggy, dew.
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PS this site has the tune :- ( but different words)
http://www.contemplator.com/ireland/foggy.html
 
2020hindsight said:
Just an old song m8 ;) - even predates the BB'ers lol.
http://www.contemplator.com/ireland/fogyfogy.html


PS this site has the tune :- ( but different words)
http://www.contemplator.com/ireland/foggy.html
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LMAO :D ... I can't believe they called it "keeping her from the foggy foggy dew"... Not even Shakespear was that cryptic... fair lady though shalt be kept from thee foggy foggy dew haste...

This isn't normal... I can imagine my mates conversation going like this:

-So did you do it?
-I sure did!
-wow I can't believe you got foggy
-you should see how foggy she got with a can of mountain dew!
-wow!?
-to top it off she used a straw
 
I think it's correct to say that song is allegorical ;) - but as you say, gen X and Y have their own versions of allegory lol. ...rap, and other jive talking jargon , lol
http://en.wikipedia.org/wiki/Allegory An allegory (from Greek ἄλλος, "other", and ἀγορεύειν, agoreuein, "to speak in public") is a figurative mode of representation conveying a meaning other than the literal.
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PS my son is at uni - flatting with "friends" - gotta feeling it's a "wild life sanctuary" as well ;)
 
chops_a_must said:
I don't have much sympathy for anyone stupid enough to be buying a home right now or for the last few years. And at the end of the day, I'll only be screwing people over that have been screwing my friends over.
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Not really interested mate, as you've (again Royal You, not just 'you' you) already illustrated in the majority of the posts in this thread, not only are you willing to take the perceived 'advantage' that you begrudge the Baby Boomer, you are prepered to go much much further.. to the point where you would gleefully accept gain at the expense of others, all the better at thier misery.

However, I guess that is the point of being 'young'.. lacking the wisdom or emotional development normally associated with adults, or not yet having attained the perfection of a later, or fully developed, style.

Personally some of the attitude in this thread sickens me..

Again, let me point out that I'm NOT old enough to be labelled as a Baby Boomer, and thankfully I also dont fit into, nor subscribe to the poisonous and vengeful view of some of the 'younger' posters in this forum who believe they are owed everything having contributed nothing.


Buster.
 
Buster said:
Not really interested mate, as you've (again Royal You, not just 'you' you) already illustrated in the majority of the posts in this thread, not only are you willing to take the perceived 'advantage' that you begrudge the Baby Boomer, you are prepered to go much much further.. to the point where you would gleefully accept gain at the expense of others, all the better at thier misery.

However, I guess that is the point of being 'young'.. lacking the wisdom or emotional development normally associated with adults, or not yet having attained the perfection of a later, or fully developed, style.

Personally some of the attitude in this thread sickens me..

Again, let me point out that I'm NOT old enough to be labelled as a Baby Boomer, and thankfully I also dont fit into, nor subscribe to the poisonous and vengeful view of some of the 'younger' posters in this forum who believe they are owed everything having contributed nothing.


Buster.
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Buster, well said. The kids will find out the hard way regarding the screw or be screwed attitude. It's sad when people come across with this attitude and believe that one must act in this manner in order to "get ahead" If they play with this set of rules, you might just get ahead, but you'll always be looking over your shoulder, thinking someone's out to get the better of you - it's not really a fun way to live if you ask me. But then again everyone has to live their life as they see fit(and hopefully learn the lessons they need to learn in their lifetime).

But then again in 5 or 10 years time you can always look back and say what the f@ck was I thinking back then! ;)

For some reason this thread has just brought back a road rage incident I saw this morning when I was heading to the gym. I had just parked my car and was heading in when I heard this yelling from across the road. Cars in peak hour traffic(8.30am), a guy in a BMW and another in Volvo S40 wagon hurling abuse at each other through open windows. Driver of the BMW decides to esculate matters and spits at the Volvo driver through open windows. Peak hour traffic, bumper to bumper, not very smart. BMW moves ahead a few car lengths. Traffic stops. Nothing much happens for a minute or so. Volvo driver jumps out his car walks up to the BMW driver starts saying a couple of words to the BMW driver(He looked genuinely surprised when he was confronted- i think he had forgotten what had just taken place -rage), but BMW driver has been a little to slow on getting his window up and he is covered in spittle, his face and suit. What a great way to start your day!?! :headshake

I can happily report my day started much better than this and got progressively better as it went on(i won't bore everyone with the details :)

Not sure of the exact nature of why I posted that story, but for some reason it seems to fit in this thread or maybe it was just one of those weird things people see everyday :dunno:
 
chops_a_must said:
I think the baby boomers will actually end up one of the most destitute generations in retirement. Most will have to sell their homes and assets to fund their nursing home living. And given the choice of baby boomers to elect a party that has torn the nursing home sector up, they will end up having to pay exorbitant fees for their own care. We already have massive shortages in the aged care sector, and this is without the largest demographic group in society being retired.
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Before Buster or any other person wants to go on another bashing, tell me where in this thread I have actually said that my generation has had it harder than anyone elses? In fact I've said that the baby boomers will be pretty badly off. I haven't begrudged anyone anything.

And investing is a zero sum game. For someone to win, someone has to lose. And I certainly do not plan to be one in the flock.
 
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