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nfinf  7mo ago (nfinf.substack.com)   2014 thread views

How good the boomers had it

nfinf.substack.com

Inspired by some of the conversations we had here about the experiences of previous generations (especially with /u/the_nybbler, and yes, I know you're not a boomer), I wrote up a post that challenges a common narrative of how good the boomers had, and how screwed the millennials are. Main point is that the houses were not that much cheaper relative to now, and the interests rates were murderous. Enjoy!

(I'm a regular poster here, but I wanted to separate the identities for opsec purposes).

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don't have enough for retirement.

I'm sure that there are some deserving poor Boomers, but it's notable that the savings rate fell as they earned more of national income:

https://fred.stlouisfed.org/series/PSAVERT

Cutting saving rates by > 50% on average doesn't seem like a good retirement strategy, except insofar as you know that welfare (Social Security, Medicare etc.) will come to the rescue.

I don't know if Boomers in particular were saving less, though.

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