The Baby Boomers Come of Age

We are sucked in by the media at times. We are going through the “Credit Crunch” at the moment. They say credit has been doled out too easily. Maybe. But then it’s also true that the Golden Generation – those born between 1847 and 1953 are coming of age and are about to retire. We also are supporting the two generations around us. Grown-up children have been in Higher Education at a time when fees rose and grants were few and far between. Then they need a helping hand on to the property ladder. Elderly relations are living longer and the nursing homes are full. Social care only goes so far. We have to do the rest. We’re downsizing. We’re spending a little less as we prepare for retirement. And yet we do owe a lot.
There is a natural ebb and flow. On average, we bought our first homes in 1973 and therefore our first washing machines. There was a run on washing-machines. So, the manufacturer produced more – then there was glut. However, the economy in washing-machines picked up again in 1976 when the first ones needed replacing. Children arrived in 1976 also, so Mothercare boomed. It declined as the ‘60’s children (ah, yes, the Pill arrived in the ‘60’s) became parents. It’ll pick up again when the boomers become grandparents – which is beginning to happen now.
We still breathe. Money still makes the world go round. Don’t be ashamed of having it. Spend it wisely. Your wealth can create wealth in others.