Baby Boomers Top of Hate List with Our Kids

Baby Boomers may not be aware of how much hate and resentment there is out there for us by the younger generations – our kids.

During my research for good information to add to this blog I read many blogs and much of the comments on interesting posts. What stands out is the amount of hate and resentment that is written in the comments by many in the younger generations. These are our kids, many of whom are in charge of our retirement nest egg in managed funds.

Take this Post on the MarketWatch web site Boomers’ spending goes bust. The theme of the post is clearly stated in it’s opening sentence;

Fear of a protracted recession has hit the affluent baby boomer segment of the population, prompting them to downsize their lifestyles.

Please read the article before reading the comments below.

Here are some of the 43 responses to the post.

“Let’s see, the last ten years in the S/P 500 have returned a little less than treasury bills over the same period. So what is going to improve that return over the next ten? Poor Boomers. No 8-11% return in equities. Their house is going down. The party’s over. Might get downright unpleasant.”

Or this;

“Baby Boomers are simply reaping what they sowed.
Nothing complicated here. And they deserve every bit of consequence that comes their way.”

Or this;

“I stick with tried and true index funds. Haven’t made a lot and have lost nada. I’m happy as a speckled pup under a red wagon. Oh yeah, about all that inflation, stagflation, stupidflatilon — so what? I thought “babyboomers” were supposed to boom! What happened? Didn’t save much if anything at all? My sincere condolances. I ain’t buying your SUV, BMW, or your $50,000 truck. EAT IT.
Crazy but rich”

These are the most obnoxious. But I have found many more and far worse on other Blogs. What I find interesting is the Post writer doesn’t even bother to respond.

I know my wife and I have done a lot for our kids financially. Things my parents never did for me because they could not afford it. I have paid for my kids’ university educations, I have bought them new cars, taken them out to restaurants regularly, paid for their entertainment and taken them on several holidays overseas.

If I had saved that money I’d be much better off but they would not have a good education or a worldly outlook on life.

Luckily my kids are not resentful of what my wife and I have managed to save and still give them a good start in life.

Right now our kids lifestyle is much better than mine was at their age. They have parents who can help them out financially too if need be.

Many Baby Boomer kids have been given the silver spoon all through their lives and now they have to begin fending for themselves they are finding it hard to do. So many of them attack us because we have managed to save some money as well as giving them everything.

If we are guilty of anything it is we indulged our kids too much. We gave them stuff our parents could never afford to give us. All the while believing we were doing the right thing by making sure they had better education and opportunities than we did.

Don’t they realise it is better to help Baby Boomers keep our retirement nest egg safe and grow it since our governments want us to take care of ourselves now?

Don’t they realise that Baby Boomers hold much of the wealth and are unlikely to spend it all? They are likely to inherit much of this wealth. So I’d advise those who are ungrateful to shut up and learn to show some loyalty to their Baby Boomer parents, many of whom sacrificed a lot to give them a head start in life.

This is just one more reason why we Baby Boomers need to protect our nest egg in retirement. There could be a whole army of our kids out there determined to strip us of it in the misguided believe we don’t deserve it. Many of them may be managing your nest egg right now. Just a thought ;-(

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