Boomers claiming financial life is easier today

[mr2mike]

Getting real tired of the Boomer crowd telling me,
"We got by on one income and raised a family".
"You guys just always need the best and that's why you're in debt"
"You Father's income wasn't very much but we managed to buy our home"
"Interest rates were 20% and your mom could still stay at home and raise you kids"
"Both parents don't need to work today. You're just too greedy with material items is all and you need to choose, raise your kids or have newest phone."

I've looked at the CPI calcs and what salaries were back in 1980s and 90s vs today and I don't think I'm off base with saying, they could not do it the same as today. No a chance unless it was a basement suite rental in NE Calgary or Airdrie.

Discuss.
Show off the tables or stacked bar charts you know that show Canadians are in deep now compared to 80s & 90s.

[bjstare]

Sounds like the boomers you talk to are idiots.

All the boomers I know and talk about finances with are smart enough to know that it's objectively, quantitatively "harder" now.

[ExtraSlow]

My favourite boomer-ism is that it's younger workers fault for jumping jobs so often.

[killramos]

MMM / DBP

*obligatory lower case letters

[ThePenIsMightier]

While I'm sure it's not easier, they couldn't get a Jetta with a simple 84 months of payments and have 9 different options of gov't sponsored, online gambling from the comfort of their rent-to-own pleather couch while waiting for someone to deliver $8 worth of food for a $6 fee.
But, we can and we do!

So I says to the OP, I says, "we ain't exactly helping ourselves".

[suntan]

Leveraged asset prices are inversely proportional to interest rates.

[JRSC00LUDE]

I don't believe you that these are real conversations.

[Lex350]

Oh great...this is going to turn into another r/canada post.

[dirtsniffer]

^ It's almost strange how middle of the road that sub is on the political spectrum

[Xtrema]

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"Both parents don't need to work today. You're just too greedy with material items is all and you need to choose, raise your kids or have newest phone."

A friend's teenage daughters (late teens, high school/uni) told him they pick the latter, as in they are not having kids.

He is not sure how to feel about that.

But that could be a whole different discussion than low wage and high inflation.

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^ It's almost strange how middle of the road that sub is on the political spectrum

Sorry, that's extremism today according the Killy's horseshoe theory.

[speedog]

Huh, well boomer here so I'll bite.

• We did get by on one modest income but money was always tight. Kids had a stay at home mom while most other boomers we knew went the dual income/kids in daycare route. Ran one vehicle for years until transit was no longer a viable option for me due to a career change.

• Never told our kids that they always need the best and that's why you're in debt. If anything, our kids are all quite thrifty and manage their money well.

• My income wasn't very much, nah it was good for the career path I had been in with a large corporation and yeah, we did buy a home based upon my income. But I do recognize that wages haven't kept up with housing, hell I'm now looking for a smaller place for my parents to live into and the prices scare my as our last home purchase was under $150,000

• Interest rates were brutal in our first home, 18% mortgage or something ridiculous like that and yeah, my wife stayed home. But we didn't have 2 fancy new vehicles or take fancy vacations - we were quite frugal because we had to be.

• Both parents don't need to work today - I think that's quite a bit more difficult these days but I know some young families that are doing it. They own one older vehicle and own a smaller home that's not in Aspen or Rocky Ridge or on a lake or that 2,500+ square feet. All I know is that it would be more difficult as compared to our personal situation and we certainly didn't have it easy.

For reference, our first home was a pre-WW2 2 bedroom bungalow that was under 600 square feet on the main level - we started out as a young couple and grew to be a family of 4 in that home. How many of you are living in a home that small with 2 kids? Or even a 1,200 square foot home? Hell, even our current home has less than 1,400 square feet above grade and we raised a family of 6 in that space.

So yeah, I'm a boomer and go ahead - paint me with that broad brush.

[Buster]

I dunno. Have you seen the porn they had to deal with? I mean full send on the bush back then.

[ExtraSlow]

Speedo, you aren't just A boomer, you are THE boomer for beyond.

[Masked Bandit]

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Huh, well boomer here so I'll bite.

• We did get by on one modest income but money was always tight. Kids had a stay at home mom while most other boomers we knew went the dual income/kids in daycare route. Ran one vehicle for years until transit was no longer a viable option for me due to a career change.

• Never told our kids that they always need the best and that's why you're in debt. If anything, our kids are all quite thrifty and manage their money well.

• My income wasn't very much, nah it was good for the career path I had been in with a large corporation and yeah, we did buy a home based upon my income. But I do recognize that wages haven't kept up with housing, hell I'm now looking for a smaller place for my parents to live into and the prices scare my as our last home purchase was under $150,000

• Interest rates were brutal in our first home, 18% mortgage or something ridiculous like that and yeah, my wife stayed home. But we didn't have 2 fancy new vehicles or take fancy vacations - we were quite frugal because we had to be.

• Both parents don't need to work today - I think that's quite a bit more difficult these days but I know some young families that are doing it. They own one older vehicle and own a smaller home that's not in Aspen or Rocky Ridge or on a lake or that 2,500+ square feet. All I know is that it would be more difficult as compared to our personal situation and we certainly didn't have it easy.

For reference, our first home was a pre-WW2 2 bedroom bungalow that was under 600 square feet on the main level - we started out as a young couple and grew to be a family of 4 in that home. How many of you are living in a home that small with 2 kids? Or even a 1,200 square foot home? Hell, even our current home has less than 1,400 square feet above grade and we raised a family of 6 in that space.

So yeah, I'm a boomer and go ahead - paint me with that broad brush.

Even though I don't match Mr. Speedog on the number of birthdays, although I don't know that I'm too far behind, I'm going to have to lean more to his side of the argument. I can't remember ('cuz I'm old) if it was in The Millionaire Next Door, one Malcom Gladwell's early books or maybe the original Freakonomics but the biggest reason for "today's" young families not being able to run things on one income was lifestyle inflation plain and simple. Bigger houses, more cars, more of everything.

I'm not saying everyone SHOULD live to the standards of 1965 but you can't have your cake and eat it too. My household like most others have CHOSEN to go dual income so we can have all the modern trappings.

[vengie]

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Huh, well boomer here so I'll bite.

• We did get by on one modest income but money was always tight. Kids had a stay at home mom while most other boomers we knew went the dual income/kids in daycare route. Ran one vehicle for years until transit was no longer a viable option for me due to a career change.

• Never told our kids that they always need the best and that's why you're in debt. If anything, our kids are all quite thrifty and manage their money well.

• My income wasn't very much, nah it was good for the career path I had been in with a large corporation and yeah, we did buy a home based upon my income. But I do recognize that wages haven't kept up with housing, hell I'm now looking for a smaller place for my parents to live into and the prices scare my as our last home purchase was under $150,000

• Interest rates were brutal in our first home, 18% mortgage or something ridiculous like that and yeah, my wife stayed home. But we didn't have 2 fancy new vehicles or take fancy vacations - we were quite frugal because we had to be.

• Both parents don't need to work today - I think that's quite a bit more difficult these days but I know some young families that are doing it. They own one older vehicle and own a smaller home that's not in Aspen or Rocky Ridge or on a lake or that 2,500+ square feet. All I know is that it would be more difficult as compared to our personal situation and we certainly didn't have it easy.

For reference, our first home was a pre-WW2 2 bedroom bungalow that was under 600 square feet on the main level - we started out as a young couple and grew to be a family of 4 in that home. How many of you are living in a home that small with 2 kids? Or even a 1,200 square foot home? Hell, even our current home has less than 1,400 square feet above grade and we raised a family of 6 in that space.

So yeah, I'm a boomer and go ahead - paint me with that broad brush.

Four level split for the win!

Thanks for you perspective @speedog !
Your posts and insight are usually quite enjoyable.

[speedog]

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Speedo, you aren't just A boomer, you are THE boomer for beyond.

No, there are other boomers on here and I am surprised to be called THE boomer because I've certainly taken a big step back in participating here. Then again, maybe it's THE boomer in a mocking way - might've well flown right over by head.

Never the less, I'll step away again - probably best for all.

[Tik-Tok]

I think it's all the little stuff that adds up.

In the 70/80's you weren't paying for 2+ cell phones, internet, cable, kids sports were dirt cheap, almost every hobby was relatively inexpensive. Used Cars didn't cost nearly as much to buy, or fix. etc.

[JRSC00LUDE]

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No, there are other boomers on here and I am surprised to be called THE boomer because I've certainly taken a big step back in participating here. Then again, maybe it's THE boomer in a mocking way - might've well flown right over by head.

Never the less, I'll step away again - probably best for all.

I don't think anyone mocks you actually. I like your contributions.

[davidI]

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I dunno. Have you seen the porn they had to deal with? I mean full send on the bush back then.

Pubic Hair Deflation FTW.

[ExtraSlow]

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No, there are other boomers on here and I am surprised to be called THE boomer because I've certainly taken a big step back in participating here. Then again, maybe it's THE boomer in a mocking way - might've well flown right over by head.

Never the less, I'll step away again - probably best for all.

I make fun of everyone most of the time, but I wasn't trying to be mocking this time.