To think that the older retired generation have it too cushy ...

[suebfg]

Nice holidays, large houses now worth £££, good pensions etc. (I know I am generalising her)e.

And the young/middle aged people can't rely on an inheritance as the elderly people may have to sell their homes to pay for care. Yet the elderly people did get an inheritance and are enjoying it on their holiday spending sprees.

Op - I think this thread would have gone better if you had specified that you were talking about baby boomers not "older" in general.

Interestingly I was discussing this with my parents (who are babyboomers) earlier (before I saw your thread) and they do agree with you that they have benefitted from a unique set of circumstances that are unlikely to be repeated.

Sex is something that hasn't been mentioned - they are the only generation where sex was not like russian roulette in one way or another. When my parents were young the pill existed but life threatening STIs didn't which, apparently, was pretty great. (Cheers for sharing that one mother!)

House prices has been mentioned a bit already.

As a country we have been slow to wake up to just how long people live these days. When my mum worked in the DHSS in the 70s it was almost a long standing joke that men retired at 65 and were dead by 66. ("OMG everyone I've found a file on a man that is 67!") Nowadays, on average, you can expect to live into your 80s and so final salary pensions are not affordable. But a lot of baby boomers will get the FS pension and a nice long retirement that comes with being the crossover here.

On the other hand their childhoods were often very spartan as they were raised by parents who had lived through the war and rationing.

Finally it is important to remember that baby boomers are currently at the maximum of their wealth. They have almost certainly received all inheritances they ever will. They have just got any pension lump sum they will get. Until very recently they were still earning. And they haven't yet had to start paying for care.

Things may look very different for them in 10 / 20 years.

Both my parents died before they had had a chance to spend my inheritance. Lucky me, eh?

YANVVU.

My father was born into poverty, "inherited" debt & was the only one of his family to go to university.

He worked bloody hard for his "cushy" retirement and will not have to sell his home to pay for care because he made proper preparations for his old age (and has me, obv.).

Yabu and extremely dogmatic for selfish reasons.

You are not looking at that generation in its place in history, how life was, grew, changed, sociologically or historically.

Personally I dislike the 'want it all now' views and 'I can sing make me a star' attitudes of today. I dislike footballers earning millions. There are basically bigger things in our own generation to be worried about.

I'd like to comment on a recurring point in this thread - that the baby boomer generation have worked hard for their comforts.

That is true (in most cases, although certainly not all). But it was not the norm for baby boomers to work two, or even three, jobs just to cover rent and bills. It was not the norm for that generation to live hopping from short fixed term contract to contract, with no long-term job security. Those things ARE the norm for a large proportion of the under-45s.

I think the responses to the OP have been a little harsh.

Agree with mummytokatie - be clear on the definition of baby boomers - they are not all older people and they most certainly did not fight in the Second World War!! I think the chief beneficiaries are those who went to grammar school/university and got to retire early on good pensions. I know quite a few people who fall on to this category and, quite frankly, they are deluded about the challenges younger generations face and generally don't appreciate the role that serendipity has played in their good fortune as well as their own hard work.

God forbid that people who have worked hard for the last 50 years should reap some of the benefits.

I wish we were in that position. I've just 'retired' early (so no pension yet) for stress reasons, but still looking for work. My DH, in his late 60s works longer days than some much younger than him. The goalposts have been moved on my state pension so I have 7 1/2 years to wait for that and the ones I get in 18 months won't be for much.

We still have DC and DGC that we want/need to help and a DP who's in quite difficult health and financial circumstances.

We've had on holiday in three years and we never used to have annual holidays anyway.

Oh, and we've still got a mortgage.

So feel free to envy our 'cushy' lifestyle.

Do I envy those who were probably more sensible and prudent than us? Yes. But I don't begrudge what they have. I think they've earned it.

However, believe me, I do see the challenges that the younger generation face, especially in terms of work. There is certainly no longer the job security and availability that I had when younger. But because of the loss of industry, my DH has faced and survived redundancy many times. Not to mention 15% interest rates on our mortgage.
There also wasn't such easy access to credit and loans when we were younger, and I do feel we were more likely to 'make do' which is also responsible for the mess so many are in now.

My parents and dh parents have it easy and retired in their early 60 s. Nice holidays, more than one house etc. dh s mum offered to lend us £100 k the other day as a temporary measure as moving until mortgage company pay up. We were shocked at how much they had and we had no idea.

My dad and dh s sd have great pensions as do my aunt and uncle both in public sector jobs. Yes I do think they are lucky and we will never have such a good pension, however, they worked hard for it all their lives so why not.

My dad has given us and dgc chunks of money recently I think to avoid inheritance tax. So we are very lucky and will probably be set up but I would like to be able to do the same for my DC a but doubt we will be able to.

Dhs mum recently argued with him about why we are worried about money in the future as a he is an only child and parents split up so will get inheritance from both sides. My df disagrees and completely agreed with paying into our pensions. We may we ok as we are lucky both sets of parents are in a good position but I am not willing to take the risk as all this might go to paying for their care. I do think we will have it harder yes.

A reminder of our talk guidelines.

oh so the oldies are not supposed to enjoy their reitrement and spend THEIR OWN MONEY they are still responsible for their adult children and they need to get their money Pfft let them enjoy themselves they have worked for it, and FWIW not all retired people live like that some really struggle but i I guess you are talking about the rich ( or your parents are they spending all your money dear are you sweating a bit )

Haven't read whole thread but, OP, I get where you are coming from.

It only makes me cross when my DM tells me that people should really have paid off their mortgages by 40! She never had to work, they bought houses at just the right time, inherited money at just the right time, benefits of NHS, antibiotics, plentiful fuel, no world wars etc. Our generation just aren't going to have it so easy!

Babyboomers didn't live through WW2 as several posters have claimed.

YANBU. My DF can't understand why DH & I are struggling to get onto the housing ladder when we earn a good income. He just doesn't get it. His first house was 1 x his salary!

YANBU DH's PIL are typical. Retired in their early and late fifties respectively from public sector jobs on final salary pension schemes with large lump sums. Benefitted from free uni education, and have a far better house than their children can afford, despite having better jobs.

BUT both worked full time and MIL returned to work after having three children. Two out of their three DIL work only a few hours a week.

YABU. A lot of that generation worked very hard most of their lives without the benefit of foreign holidays, eating out, household conveniences and a lot of other stuff that younger generations take for granted. Some of them would have lived through post war austerity, many many of them would have had no opportunity to receive a third level education; lots of them built up careers or businesses by starting at the bottom with nothing. I hate it when people get all bedgruding about a generation that are finally able to relax a bit about money and enjoy a few luxuries for the first time int heir lives. Very very mean attitude.

I hate it when people get all bedgruding about a generation that are finally able to relax a bit about money and enjoy a few luxuries for the first time int heir lives. Very very mean attitude.

I agree with you it is just mean , these people can spend their money how they like imo

mrsjay I was just about to post the same. I really don't get the hatred towards the 'baby boomers' as though it's their fault that they have done OK and other generations not so well. Very odd

I can't say yabu or yanbu, but I'm not sitting on the fence either!

I'm in my late forties and for every 60something married couple who have one or two index-linked pensions between them, property here and a holiday home plus a cruise and another £££ holiday each year, I know people of the same age living hand to mouth, in real poverty eeking out their state pension and others who have very modest pensions from their working life which keeps the wolf from the door.

Then my generation, I remember during the eighties, so many friends losing their home, because though it might have been say a studio flat, interest rates rocketed and then property prices plummeted. Result: massive negative equity, massive mortgages which stretched people to breaking point and defaulting. It took many years for some of them to recover financially. Others were much much luckier, able to ride a wave where house prices in eg London were soaring and they became millionaires almost overnight.

There are always winners and losers. My mother was a 'baby boomer'. She killed herself after losing her home when my Dad's small business went bust and the bank took the house.

mrsjay I was just about to post the same. I really don't get the hatred towards the 'baby boomers' as though it's their fault that they have done OK and other generations not so well. Very odd

I know it is as if they are foot stomping and say HOW VERY DARE THEY have a life after working/ raising children it is odd . my parents are not that well off dad is still working mum is too part time but they go on a couple of holidays a year meals out etc why shouldn't they, my dad is retiring age but works still what are they meant to do with their life save all the money for me my sister and grandchildren

I think, now that I've calmed down - slightly! - that the reason the OP seems to be so upset and begrudging is that she has relatives who need help and can't get it? I could be wrong, that is what I'm reading in the posts now? But it's still not nice to slag off us older folk. (I only had central heating installed last year! Imagine that!)

I didn't see OP "slagging off" older folk, Greydog. The frustration is at the situation, not the individuals.

I do worry about my children's generation.
House prices are extortionate compared with the time if my baby boomer parents.
University seems to be essential, yet costs thousands of pounds a year, whilst previously it was free to students.
Plus, there's so much more that ppl are expected to buy.
So,in some ways I seewhatopis saying.

There is no automatic entitlement or progression towards uni,or mortgage
It's almost become a global expectation,to own property and graduate uni
I was the 1st in family to go uni,my parents were council tenants.its not a give it will happen for our kids

Realistically,one needs to prepare kids for work,studies and yes they'll incur debt.Sometimes that's just how it goes
I had debt at uni,no bank of mum and dad,and no inheritance