Boomer Wealth

[aja8888]

I don't know the cultural background of the folks at Jamestown. But there are whole cultures who expect to "eat free" off those who are more prosperous. If that was the case at the founding of Jamestown, John Smith was pointing out that it was no longer in effect - by law (decree, really.)

I attended a meeting where a missionary was reporting on his work to aid a group of folks who were in abject poverty. Many of the folks were relatives to others in a subsistence farming community. The missionary described one of the built in problems preventing these folks from ever getting out of poverty.

The missionary arranged for a farming expert to work with one of the farmers, showing him how to increase yields. It wasn't through intensive "chemical" means, but through well known sustainable methods. The farmer's crop that year was bountiful beyond any expectation. So his relatives stopped farming, moved in with the farmer and ate his bounty. The "enlightened" farmer went back to his old methods and his free-loading relatives had to go back to their inefficient farms.

My point is that work ethic or whatever we want to call this portion of our discussion is as much cultural as it is economic opportunity. I doubt most of us would dispute that there have been significant cultural shifts, generation to generation in our life times. Not saying that's the whole story of the age-old "youth vs age" phenomenon. Just sayin'... It IS a factor whether we like it or not. Of course, YMMV.

This the exact results of Russia's socialism and 5 year plans.

 

[Music Lover]

This the exact results of Russia's socialism and 5 year plans.

All socialism works the same way regardless of origin. And it always ends very badly with disastrous results. "Share the wealth" always becomes shared poverty.

 

[Koolau]

All socialism works the same way regardless of origin. And it always ends very badly with disastrous results. "Share the wealth" always becomes shared poverty.

It's only saving grace: Folks are "equal." Equally poor. YMMV

 

[Music Lover]

It's only saving grace: Folks are "equal." Equally poor. YMMV

Some people would prefer that everyone have nothing rather than someone have more than them.

 

[daylatedollarshort]

All socialism works the same way regardless of origin. And it always ends very badly with disastrous results. "Share the wealth" always becomes shared poverty.

The OECD keeps statistics where one can compare quality of life indicators between countries with different forms of government - OECD Better Life Index. The results may surprise you.

 

[Walt34]

We also all got our choice of a brand new V8 Camaro or Mustang for our 16th birthday.

I had to settle for a 1956 Plymouth. It "needed some work". I had to replace the manual transmission before I could drive it.

But seriously, I was thrilled to have it. Most guys in high school didn't have any wheels at all. And yeah, the scissors jack is the safety stand....

 

[Music Lover]

The OECD keeps statistics where one can compare quality of life indicators between countries with different forms of government - OECD Better Life Index. The results may surprise you.

The results aren't surprising. None of the highest ranked countries in the world are purely socialist. They can handle a little bit of socialism but only because it's supported entirely from the proceeds of capitalism.

 

[aja8888]

I had to settle for a 1956 Plymouth. It "needed some work". I had to replace the manual transmission before I could drive it.

But seriously, I was thrilled to have it. Most guys in high school didn't have any wheels at all. And yeah, the scissors jack is the safety stand....

This is my 49 Chevy with a 1951 grill and nose clip after I fixed it up and got it running. First cars are memorable.



My sister's hat (partial) is in the picture by the front tire. I was actually taking a picture of her on Easter Sunday.

 

[daylatedollarshort]

The results aren't surprising. None of the highest ranked countries in the world are purely socialist. They can handle a little bit of socialism but only because it's supported entirely from the proceeds of capitalism.

A rose by any other name is still a rose - Nordic model - Wikipedia.

 

[street]

Some people would prefer that everyone have nothing rather than someone have more than them.

That is true!!

 

[street]

This is my 49 Chevy with a 1951 grill and nose clip after I fixed it up and got it running. First cars are memorable.

View attachment 43728

My sister's hat (partial) is in the picture by the front tire. I was actually taking a picture of her on Easter Sunday.

We had one exactly like that first car of yours. Folks kept it around and we used it as a hunting car. Did a lot of pheasant hunting using that car. Great memories!!

 

[aja8888]

We had one exactly like that first car of yours. Folks kept it around and we used it as a hunting car. Did a lot of pheasant hunting using that car. Great memories!!

Those old 6 cylinder Chevy's were pretty stout and the 1949 - 1952 models were pretty much identical except for trim pieces. Lots of parts were interchangeable. I was in high school then and used it for transportation and hunting girls.

 

[street]

Those old 6 cylinder Chevy's were pretty stout and the 1949 - 1952 models were pretty much identical except for trim pieces. Lots of parts were interchangeable. I was in high school then and used it for transportation and hunting girls.

Lol!! I'm not going to ask if you ever caught on your hunt though. Those cars were girl getting cars in the day.

I would guess it was green shade in color and had the push button start. Man, I loved that old car and wish I had it today.

 

[aja8888]

[/B]
Lol!! I'm not going to ask if you ever caught on your hunt though. Those cars were girl getting cars in the day.

I would guess it was green shade in color and had the push button start. Man, I loved that old car and wish I had it today.

No comment on the girl hunting....I made a few errors there.

Mine was six shades of gray and did have the push button start. And the heater worked!

 

[Music Lover]

A rose by any other name is still a rose - Nordic model - Wikipedia.

That's not pure socialism. It's a capitalist society with a percentage of socialism (probably at the max sustainable) which is only able to exist because it's fully funded by free enterprise and tax dollars from capitalism.

 

[cyber888]

I'm the last of the Boomer year (1964). I'll try to spend and enjoy my retirement money and hopefully spend most of it.

 

[rodi]

Trying to give some to the kids now. Helped DD2 buy a house last year but she's insisted on paying me monthly installments.
Bought DD1 a few gifts that she wouldn't splurge on herself.
If I live to 90 they'll be 75 and 70 when they inherit it. I'd rather they enjoy some of it now.
Read "Capital in the 21st Century" earlier this year. One of the authors findings was the Boomer generation is on track to bring inheritances back to historical levels not seen since WWI both in the US and Europe.

Hmmm. You started young.

 

[Music Lover]

I'm the last of the Boomer year (1964). I'll try to spend and enjoy my retirement money and hopefully spend most of it.

Although I consider myself to be more Generation Jones (1955 - 1965) that's my plan too. I saved for retirement so that I could enjoy it.

 

[cyber888]

Although I consider myself to be more Generation Jones (1955 - 1965) that's my plan too. I saved for retirement so that I could enjoy it.

Right, let's stick with that plan

 

[Mulligan]

I'm the last of the Boomer year (1964). I'll try to spend and enjoy my retirement money and hopefully spend most of it.

I know the generations cant be neatly fit into time periods cleanly, but that being said, I was born same year of ‘64 and it seems more like a Gen X era to me. My dad wasnt even close to being old enough to fight in WW2.

 

[Irishgirlyc58]

I know the generations cant be neatly fit into time periods cleanly, but that being said, I was born same year of ‘64 and it seems more like a Gen X era to me. My dad wasnt even close to being old enough to fight in WW2.

I’ll say! I actually am not fond of categorizing people based on the year they were born.
I was born in 1958, I have 4 siblings born in 1952, 1954, 1967, and 1969. All by the same parents so technically we are the same generation as formally defined before the media started describing people differently.
The next generation fall into the same “generation” as some of my siblings but different from their siblings.
It’s absolutely ridiculous.

I’ve worked with young people who were hard conscientious workers and people my age or older who were slackers. People are people no matter their age or media made up categories they fall into.

 

[razztazz]

Categorizing people can be good or even necessary. But the reasons for it vary with the people doing the categorizing. The Gov likes to look ahead for a variety of purposes that advertisers/businesses don't. Work force size 20 yrs from now, taxes, city and highway planning etc etc etc vs selling to 30+'s is different from selling to or hiring 20somethings etc etc. "Finger on the pulse" stuff. And the people walking around out there might not see themselves in either the Gov's or Business's window of captured data. They would would feel kindred based on events /experiences that shaped their world.

 

[street]

I’ll say! I actually am not fond of categorizing people based on the year they were born.
I was born in 1958, I have 4 siblings born in 1952, 1954, 1967, and 1969. All by the same parents so technically we are the same generation as formally defined before the media started describing people differently.
The next generation fall into the same “generation” as some of my siblings but different from their siblings.
It’s absolutely ridiculous.

I’ve worked with young people who were hard conscientious workers and people my age or older who were slackers. People are people no matter their age or media made up categories they fall into.

I agree slackers and go getters in every generation. It sometimes doesn't mean how you were brought up either. Same work ethics taught to each child some take it some don't.

Interesting age group in your family with 17 years difference between the oldest and youngest.

 

[GravitySucks]

Hmmm. You started young. [emoji23]

Lol. Bad at math (or unrealisticlly thinking I'll live too 100) but 60 and 65 is still too old.

 

[cathy63]

Lol. Bad at math (or unrealisticlly thinking I'll live too 100) but 60 and 65 is still too old.

LOL, I told our daughter (Millennial) that she should definitely not expect to inherit from us until she's at least 65, so plan accordingly.

We are fortunate that both our Moms (Silent Generation) are still alive and spending their own money, so we (Boomers) haven't inherited anything. Whatever wealth we have comes from working, saving and investing in a very favorable stock market.