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I think most Boomers didn't have financial support, and they didn't need it: their wealth accumulated at a faster rate than large expenses (college, healthcare,
by cflewis 8y ago
I think most Boomers didn't have financial support, and they didn't need it: their wealth accumulated at a faster rate than large expenses (college, healthcare, housing) grew.
Those large expenses are now almost all exhibiting bubble-like costs, but probably aren't bubbles. They're the new normal. Millenials, and at least the generation after them, will need financial support to live similarly to the environments they were raised in.
- oldprogrammer2 8y agoIt wasn't so easy for all the boomers. I remember my dad losing his business after he lost a loan during the S&L crisis, and I remember my parents struggling to afford a 3-bedroom house in 1983 at something like a 16% interest rate on the mortgage. And I'm sure they remember gas lines during the 1979 oil crisis, as well, even though I don't.