The Boomer Supremacy Summary

Im Gen Y and ive still managed to buy property and get blackout drunk on a low income. The trick is to never stop hustlin

 

Yes, being older that you, I know plenty of them. I'm (just) a BB & Hubby is GenX. And some of them, now that they need to draw a pension, and rent, are really feeling the effects of spending all their money that they now complain about how hard it is to get a Housing Commission place, and how small it is. They should be able to have a 3 or 4 bedroom house, you know.

It's the delayed part in that sentence that many have trouble with. Many people, old and young, want it all, and they want it all right now, live beyond their means, and don't take responsibility for their life choices, then want the magic government to change rules to benefit themselves.

 

Something something negative gearing, something something baby boomers.

I find it genuinely fascinating to see Australians complain about the difficulty to succeed in this country - a place with opportunities around that it's not funny.

 

I think that future generations will have it far worse than anyone today. Property is just the beginning.

This planet has limited resources in terms of housing, food and wealth. Countering this is an ever growing and ever aging population. It becomes a question of sustainability.

Furthermore we've seen successful businesses grow to the point where they're multi national employing thousands of people. The divide between the wealthy and poor is widening. Certainly it's possible to become wealthy and technology is introducing opportunities, but the same environment is also creating a new caste system.

Probably not in any of our life times, but give it a few hundred years. I don't have a lot of faith in the world (or human nature).

 

The thing is you cannot compare your beginning to someone else's middle or end. Most of these things that are different today than they were before (loan accessibility, interest rates, house prices, employment availability, etc) are outside your control anyway. So rather than focusing on the things you cannot change, you might as well concentrate on things you can change: you and the things you can do. Get creative, get smart, rise to the challenge, and let the act of refining and improving your own life keep you so busy that you have little time to compare yourself with those who have gone before you.

 

I read Lyn shaddocks "Property Secrets" last night. Hard work and persistence come to mind. The take away for me is opportunities will come but do we recognise them and have the guts to take them? Lyn is dyslexic and had to work hard to get the opportunities. He didn't complain. He's not caught up with symbolism but accept the reality of his situation and to make the best of it.

I took my children to the Philippines poorest part when they were about 6 and 4. The impact is lasting. They really appreciate where they are living now compared to 6 people living in a 10sqm room paying rent to illegal "landlords" in swamp areas. Whilst they have little opportunities we have plenty here in Australia. I'd be very disappointed if my children complain about their lives here.

Now they are 9 and 7, they still remember those kids who could only play along the unsealed roads because their houses are too hot (shed made out of aluminium and cardboards). They still remember that we participated in a feeding program and there were so many hungry kids. I feel sad just thinking about them.

 

The article is poppyc0ck!

Boomers & post war immigrants WORKED!!!! They lived in SHARE HOUSES. They sat on MILK CRATES. They did not have TVs, VIDEO, PAY TV, MOBILE PHONES, LAND LINE PHONES, CARS, CREDIT CARDS, HSC, MULTIPLE UNI DEGREES, BANKING/CREDIT REFORM, SOCIAL SECURITY and in many cases a SECONDARY SCHOOL EDUCATION & ENGLISH LANGUAGE SKILLS.

Yet they made a go of it.

Suck it up sweet hearts - life was more difficult in the 1940's - 1970's when the boomers were out having kids, working hard etc.

(Rant over - back in your box SNM).

 

I miss the milk crates - a true status symbol in every share house.

 

I married in 2000. Renting in ultimos smallest apartment I reckon. My dining table is 2 milk crates and a plywood board I picked up from Street. Milk crates are awesome.

 

I think all generations are similar, you have all the different personalities in each, those who are entrepreneurial, hard workers, middle of the road, lazy and ones who cant be bothered at all.

Each generation has its positives & negatives with regards to employment and making "it".

Old money being handed down certainly skews this, but none of us really start from the same page nor will we finish.

 

We get to screw over Gen Z.

 

Although I like all of what you wrote, this is the main crux, right here. I left school after year 10, did a year at TAFE and straight into the workforce. Hubby was the same, but left after year 10 to do a trade. Although both of us were intelligent, neither of us thought it important to stay at school. And it wasn't at all common to go to Uni.

These days, most kids are encouraged to go to Uni. Why? There are thousands of jobs that don't need Uni degrees, yet it's expected these days. All you are doing is prolonging the years of schooling. Of course it's going to be harder to buy a home if you don't front up for your first job until your mid 20's, and your used to having money just handed to you whenever you want it, so you haven't learnt how to budget, or save etc.

You are not an 'adult' until you are 24, so if you want to sit on your bum at home, your parents are responsible for you. Kids are told they're special, and clever all the time. They can't do anything wrong and they are not responsible for anything. So they EXPECT that everyone will run around and wipe their special little bottoms for them.

I have a nephew. He's a nice lad, I think he's around 23 now. Very intelligent, but not motivated. He was doing 2 degree's away from home & the parents were paying for his accommodation as well as spending money. He dropped out with less than a year to go to be qualified. He now sits at home all day doing nothing. He can't get any money from Centrelink, as his parents earn too much, so they give him money for whatever he wants to do. He doesn't apply for jobs because he's too shy.

Another girl I know is an only child. She's 27 and is now working.....but only part time. Parents indulged her every wish. She didn't want to study, or work, and she didn't have to because she got whatever she wanted whenever she wanted it. She's never had to grow up and be responsible. I think she's had this job for around 6 months now.

 

How is it unfair that someone with 25 years work experience and has invested for say 10 years is paid more and has better tax breaks than someone with 2 years experience and no assets except their bong paraphernalia?

 

Generational warfare. Like property, but runs in a 20 year cycle. In a few years Gen Z will be cracking it over how Gen X had it all handed to them. Life, like property becomes more prosperous with time in if you plan it right.

 

This is awkward.

I'm going to have to disagree about the War babies having longevity and general good health. From my experience, the only ones left are the ones who had healthy upbringings. So many of the oldies I have known when I was growing up died back in their 60s and early 70s, from lung diseases, malnutrition related, and so many other things that we now have cures for. By malnutrition I should clarify - as children growing up during the Wars and the Depression, they were malnourished and thus their growth and overall development was stunted. This is typical of my husband's family. Due to the overall lack of food at the time, I would think this Generation haven't had the same good health and longevity that we post war babies enjoy.
My father was born in 1920 and my mother in 1935. My husband's parents and grand parents were far poorer than either of my grand parents.

On the other hand, W, I would think you have access to data and research papers that I don't have.

 

Just my grandparents on both sides and now my old aunts and their husbands are still going strong - well, still going, anyway. Maybe it's just good genes. They weren't poor as both grandads were welders and worked on the railways, one a boiler maker.
The lifestyles they had would be considered poor by today's standards - walked everywhere, meat and 3 veg, no junk food, made their own clothes, left school early to get jobs, no excess, no indulgences.
It must've been tough being really poor in those days.

 

On loyalty in the workforce. Why have any loyalty to a company that will only ever give you a 6 to 12 month contract? I have plenty of peers that are up to their 7th year with the same company on that basis. So of course they will jump ship if they get a permanent offer. It's very hard to plan for the future when your own career is so uncertain.

Wow. Talk about generalisations. I went to uni. I worked full time and studied full time. Most people I went to uni with did the exact same thing. My grad planner, who I just employed on a full time contract after being permanent part time while she was at uni worked part time in one job, part time in another and studied a full time course load. Any student simply has to do that to afford rent if they don't have wealthy parents.

I had to learn how to budget and save at uni. As did nearly everyone I lived with in run down, roach infested share houses. Because one night of drinking in a bar with the cool kids would mean you were scrounging food of housemates for a fortnight. One trip to the co op bookshop to buy a textbook meant a month or two of serious saving for a $60 required textbook.

Just because you know some privileged kids doesn't mean that is how uni actually is.

You want to blame someone? Blame the parents for instilling those values in them.

I do agree with you somewhat on uni - too many people are being forced to do degrees - but also keep in mind that the way the media presents things, Australia has no manufacturing future, mining is collapsing (and doesn't employ anyone with no experience either) and unless you can live with parents, you cannot survive on an apprentice wage in a major city.

Did you have to pay for your TAFE courses out of interest?

 

I've been out until the next day before, nothing good happens after 2am.
How about the old fogies, ask your grandparents what time the public bar closed in their day.
Ask them how long they saved for their house deposit while you're there. And what they ate while they saved for a new fence.
Oh and what people did for work during the depression.

 

Bingo!