Baby boomers (circa 1947 to 1966) describe themselves as darn near perfect. Damn, we're good... just ask us.
Getting on in years? We don't think so. Ten percent of us feel like we’re still in our 20’s. We’re friendly, generous, ambitious, (yet not materialistic). We exercise regularly. Our kids are our best friends.
According to a Globe and Mail poll, boomers are either the most optimistic generation ever to walk the face of the Earth or the most self-deluded.
In truth, baby boomers are an unhealthy lot over all. Diabetes and obesity levels are rising. As for generosity, the number of Canadians giving to charities is declining. Forty-nine percent of boomers believe they enjoy better relationships with their kids than they had with their parents. Maybe it’s because the kids still live at home. Sixty-four percent of boomers still have at least some of their brood in the house. And even when the kids are gone, we’ll still be helping to pay some of their bills.
Half of boomers aged 50 to 59 think of ourselves as younger than we are. We travel and drink more than our parents did. “What's wrong with a glass of wine now and then? Haven’t you read that studies suggest moderate drinking is actually good for you.” Most of us stopped smoking years ago.
The majority of us think we'll live into our 70s and 80s and 15 percent believe we'll make it to 90. It must be all that working out we do. Yet government figures indicate half of boomers are couch potatoes. Only 43 percent of the same age group lived a sedentary lifestyle 10 years ago.
Despite our optimism, the poll shows boomers are a stressed generation, struggling to balance needs of parents and children while worrying about retirement. Almost half of us work more hours than our parents did, and more than half are still paying off our mortgages.
One fifth of boomers have no savings or investments. Baby boomers, as the most privileged, self-assured generation in a century, scored lowest among all age groups when it comes to confidence that they will have enough money to retire on. Between financial concerns, demands from kids and aging parents, one might expect boomers to have turned gloomy. Indeed, more than half of all people 40 to 60 years old who visited the doctor in 2005 were diagnosed with some form of depression. Yet boomers are a sanguine bunch… almost all of us claim to be satisfied with your lives, and most think that things will get better from here.
Does the poll data affect the real estate buying decisions of baby boomers and their children? You bet! I’ll tell you how in coming issues of my newsletter "Real Estate Wiser".
Source: The Globe and Mail |
