No, the Boomers didn’t live within their means. And younger generations will pay the price

I just read an article that really hit me: “No, the Boomers didn’t live within their means. And younger generations will pay the price.” It’s such a relevant topic, especially with everything going on nowadays, don’t you think?

Basically, the article argues that the baby-boomer generation didn’t actually save and budget their money as well as they’re often credited for, and that their spending habits have had lasting effects on the economy that will disproportionately impact younger generations. The author argues that boomers essentially “overpromised and underfunded” their futures, relying heavily on government programs and fossil-fuel jobs that are now coming to an end.

What’s alarming is that this article points out so many things that I never even considered! For example, the article shares how the national debt has skyrocketed over the last few decades because of things like tax cuts and unnecessary military spending, and how that debt will have to be paid off eventually. Another point the article makes is how inflation has never been higher—housing and education costs, in particular, have risen much faster than wages and salaries. All of this is just such a stark reminder that we need to start questioning things more and not simply assume that the way things have always been done is necessarily the way they should be done.

For me, reading an article like this just makes me want to be more informed and to start saving and budgeting smarter. I’ve been trying to learn more about financial literacy and am trying to be more mindful of my spending habits, especially when it comes to those big-ticket expenses like housing and education. What about you—do articles like this make you want to be more educated and start preparing for the future differently?

Ultimately, I think it’s so important to stay informed on issues like this. It’s not just about individual success, but about making sure that as a society, we’re setting ourselves up for a sustainable and stable future.