With all age groups there are people in many different financial positions. As a Baby Boomers owning a house was the first goal (some never achieved that). In retirement owning a home has many advantages, the rent assistance is not keeping up with rent increases.

Australia have has superannuation for around 30 years , this was a bonus as in the younger days you never planned for super. We had little idea on the money it would generate (compounding interest) , until one day you looked at the yearly super statement, and you realised this super is a good thing.

We also had home loan interest rates at 18%, we just payed the loan off as fast as we could, none of this Debt Recycling stuff there was no way we could earn 18% tax free on our investments. The 18% interest rates could have been an advantage, we hated it and would do anything to clear the debt.

When the home was payed off we had a bit of a go at investing any spare cash. We worked hard for this money and we put the research in to make sure you made the right decision. Then this salary sacrificing into super came in, tax advantages to save WOW and you had experts investing your money and you only payed 15% tax on the profits.

There are many Boomers who have saved for the future and now are reaping the rewards, there are some that are struggling. This applies to Gen X , Gen Y etc. - some do well and some don't.

In my opinion Boomers are the lucky ones, some Boomers are now banks (bank of mum and dad). I will admit when we go to a restaurant or coffee shop , the clientele are mainly Boomers.

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