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Boomer's Parents

 
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Mats
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Joined: 14 Oct 2004
Posts: 503
Location: Toronto, Canada

PostPosted: Fri 31 Aug, 2007 3:37 pm    Post subject: Boomer's Parents Reply with quote

This article struck home with me:http://dissentmagazine.org/article/?article=887
Mats


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David
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Joined: 09 Nov 2004
Posts: 353
Location: England

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Peripheral Visionary

PostPosted: Sat 01 Sep, 2007 6:05 am    Post subject: Reply with quote

When my father retired at the age of 60 he told me that he intended to make sure that me and my sisters got a "good inheritance". I told him not to do that, he had worked hard from the age of 15 and needs to spend his money on himself. My sisters also told him the same thing and we were very happy when he began to take some foreign holidays. Fourteen years and 42 holidays later he's enjoying good health and enjoying the efforts of 45 years of hard work. He's careful with his money and not likely to spend it all but he did once say half jokingly that it's a shame he didn't know how long he would live so that he could budget for it. I told him not to worry because he can come to live with us. He probably wouldn't want to but I hope it's given him one less thing to worry about.

My father's generation have seen their life expectancy gradually increase and for many people their financial plans for retirement were based on living about one decade, not two or even three decades. A similar thing has happened to my generation. Many of us are likely to live to 90 and many of our children to 100. I expect to work until I'm 70 partly because I might be supporting parents/in-laws and partly because I don't want my children to have to support me. But on the other hand, that might be the way our society goes any way, the older generation being supported by and living with the younger generation, exactly the same way as it has always been in many other societies.
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