I see this daily with my boomer parents. My husband and I are gen-x and very non-materialistic and give back and volunteer with mutual aid groups. My parents spend all their money on more than one home and traveling and buying whatever they want. Not a thought about ‘do I really need this’?
It’s so weird to me. We are very deliberate about what we buy when it comes to ‘things’ bc so much stuff is not necessary. We’re doing ok but they think we’re poor bc we didn’t overbuy our home and don’t throw money around on ‘stuff’. I don’t bother explaining our mentality it’s pointless
On another thread on this story, someone mentioned how much of their money comes from bidding up prices of homes and extracting it to spend.
try to be objective and wonder how I would’ve acted in a similar situation. I hear a LOT from my peers though how ‘the boomers don’t get it’ when it comes to hosing/retirement and what it’s like to live financially now. Been hearing it more and more. Mainly talking about their parents.
The early boomer generation, for the most part, are selfish & greedy. That’s my personal opinion. The most power, influence, & money they accumulated the less they cared about a lot of things. Now that there are so many of them, more undeveloped land gets bulldozed so they can have private rooms
in retirement residences & long term care. Anyway, once more of them return to dust, more housing will come available. It’s a huge cohort.