All articles tagged with #boomers
Many wealthy retired boomers are living frugally and working longer than expected due to fears of running out of money, driven by increased longevity and rising costs, leading to a phenomenon called the retirement consumption puzzle where retirees save more and spend less than anticipated.
A study by Empower reveals significant generational differences in perceptions of financial success, with Boomers considering $100,000 annually as successful, while Gen Z believes $600,000 is necessary. The average American views $270,000 as the benchmark for financial success. Despite these high expectations, 71% of Gen Z are optimistic about achieving financial success, highlighting a shift in income expectations and aspirations across generations.
The Broadway musical "The Who's Tommy" is described as a sensory overload with overwhelming action and loud music, making it strictly for older generations. The plot, involving a young boy who becomes deaf, dumb, and blind after a traumatic event, is deemed inappropriate for young audiences. While the audience may enjoy the show, the production is criticized for being geared towards boomers and lacking the heart and soul of the original album.
Temu, a Chinese-owned e-commerce app, has seen a surge in popularity, particularly among older generations, with boomers and Gen Xers shopping more frequently and spending more than younger people. The app's diverse product mix and discounts appeal to more mature shoppers, while some speculate that older individuals may be less sophisticated internet shoppers and are drawn to Temu's gamified discounting. The reasons behind boomers' high engagement with Temu could also be attributed to having more space and disposable income, but the exact motivations remain unclear.
A TikTok user, Tina, compared Millennials with Boomer parents to "service dogs," claiming that Millennials are sent to therapy to help their parents understand their own trauma and break the cycle of generational trauma. While there is no scientific evidence to support this concept, generational trauma is a real phenomenon, and Millennials often find themselves navigating the complexities of their parents' trauma while trying to protect their own children.
A therapist created TikTok videos critiquing millennial and boomer parenting styles. Millennials responded with gratitude and openness, while boomers lashed out with defensive and inappropriate comments. The therapist realized they had unintentionally conducted a social experiment, highlighting the emotional repression and shame-proneness of boomers. They aimed to show boomers how their coping styles could harm their relationships with their adult children and encouraged them to change. The therapist emphasized the need for support and resources for boomers to improve their parent-child connections.
The Australian basketball team, the Boomers, ended their disappointing FIBA World Cup campaign with a 100-84 win over Georgia, finishing with a 3-2 record. Already out of quarter-finals contention, Australia salvaged a failed gold medal attempt with a comfortable victory. Dante Exum and Duop Reath played well, while Patty Mills found his groove with 19 points. Josh Giddey became the youngest leading scorer in World Cup history with 15 points. Despite some promising performances, Australia fell short in true tests against Germany and Slovenia. The focus now shifts to the Paris Olympics.
A Twitter thread has compiled a list of things that Baby Boomers love and hate. The list includes Boomers' love for saying "a million dollars" when servers ask if they can get them anything else, and their hate for celebrities speaking up about political and social issues. The thread has sparked a conversation about the generational divide and the differences in values and attitudes between Boomers and younger generations.
A TikTok video by @andi_astra has gone viral, highlighting the generational gap between boomers and younger people, specifically their inability to grasp how costly it is to live now compared to the past. Andi's parents revealed that her grandmother had left her an inheritance to be used for something important and big in her granddaughter's life. Andi hoped it might be enough for a down payment on a house, but was shocked to learn that the amount left to her was only $1,500, showing that boomers have no idea about how much everything costs.