The Retirement Newsletter: Are you a Boomerist?
Issue Number: -66 — well? Are you a boomerist?
Welcome
Welcome to issue -66, where I ask — are you a boomerist?
The chances are you are not a boomerist because if you are reading a retirement newsletter, you are most probably of the generation ‘baby boomer’ and so are a boomer. Let me explain.
What is a boomer?
Back in issue -91 — I am not a baby boomer — I wrote about the different generations:
“The Lost Generation — 1883 to 1900 — so-called because of the First World War. This generation would have been between 14 and 30 at the start of the war and thus likely to have served. The generation represents a 17-year spread.
The Greatest Generation — 1901 to 1927 — this generation would have generally been too young to serve in the First World War or not have been born. They would have likely served in the Second World War. The Greatest Generation shows a 26-year spread.
The Silent Generation — 1928 to 1945 — unlikely to have been involved in the Second World War, as they were either too young or born during the war. The generation represents a 17-year spread.
Baby Boomers — 1946 to 1964 — the Baby Boomers were so-called because of the increased birthrate after the Second World War. This is the group to which I thought I belonged, but apparently not. Interestingly, the peak number of births for the Boomers was 1964 — the same year that the BBC started broadcasting Match of the Day (a television programme about football (soccer)) on Saturday nights in the UK. Coincidence? The Boomers spanned 18 years.
Generation X — 1965 to 1980 — this ‘generation’ spans 25 years.
Millennials, also called Generation Y — 1981 and 1996 — a 15-year span.
Generation Z — 1997 to 2012 — 15-year span.
Generation Alpha — 2013 to present day. As each preceding ‘generation’ has spanned 15 to 26 years, this generation will finish between 2027 and 2039.”
And in that issue, I said that I was surprised to discover that I may not be a baby boomer but a Jones.
According to Wikipedia — Generation Jones are those born between 1956 and 1964. The generation name is derived from "keeping up with the Joneses”.
But what is a boomerist?
What is a boomerist?
“Boomerist” may very well be a word I have made up.
A quick search on Google (Saturday, October 15, 2022) didn’t produce any hits, yet I am sure I read the term somewhere.
So, what, in my book, is a “boomerist”?
Here is my definition:
Boomerist — a person who mocks or dismisses people of the baby boomer generation as unimportant, not to be listened to, to be mocked, or blamed for all the current problems in the world. A typical comment of a boomerist is "OK boomer”, a catchphrase often used by Millennials and Generation Z.
The photo at the top of this newsletter shows an example of the “Okay, boomer” catchphrase. And, I am not suggesting the person in the photo is a boomerist; they just happen to be wearing the T-shirt.
Yes, it is a form of discrimination. A boomerist makes assumptions about someone based on their age. The boomerist assumes that the stereotypes of the boomer generation apply to all boomers when they don’t.
Being a boomerist is a form of ageism.
Am I offended by boomerists? No. All younger generations blame the older generations — I know I did. And all current generations moan about the younger generations. It is part of life and growing old.
Have you experienced any boomerist or ageist comments? If you have, then please leave a comment below.
Also, please let me know if you think I am writing complete tosh.
Money
OK, I want to say that I am not a financial advisor. I am writing about what I have read over the years about money and preparing to retire. This is not financial advice.
What a week in the UK!
I didn’t think I could let this newsletter go without commenting on what has been happening in UK politics.
Back in issue -68 — Quarterly review — time for another look at my pension and retirement plans — was that only two weeks ago? — I wrote about the ‘mini-budget’ in the UK and its impact on savings and retirement. And I said:
“However, ‘the market’ had its say and went into a meltdown. Stocks, shares, and bonds plummeted. Billions were wiped off pensions. And the value of the pound tumbled. The drop in the pound’s value will drive up energy costs and increase inflation in the UK.”
And the craziness has continued — it has got worse. I didn’t think that was possible.
In the UK, we are now on our fourth Chancellor of the Exchequer in as many months:
July 2022 — Rishi Sunak
August 2022 — Nadhim Zahawi
September 2022 — Kwasi Kwarteng
October 2022 — Jeremy Hunt
Queen Elizabeth II’s reign (1952-2022) saw 23 Chancellors in 70 years. A Chancellor of the Exchequer lasted, on average, three years. King Charles III is on his second Chancellor in six weeks. That is one every three weeks. (I am not blaming King Charles for the rapid turnover of Chancellors.)
All I can say is that my pension pots have taken a further hammering in the last two weeks since issue -68. I can only hope that now the Government is rowing back on some decisions in the ‘mini-budget’ that upset the markets and that things will stabilise and improve. However, I fear that may not be the case. I guess I will have to ride it out. What else can I do?
Please note I am not a financial advisor. I am writing about what I have read over the years about money and preparing to retire. This is not financial advice.
Next week
Next week in issue -65, I’ll be thinking about Halloween, or should that be Hallowe’en?
Thanks
Thanks for taking the time to read this newsletter, and please don't hesitate to share it with your friends or on social media using the buttons below.
If you would like to say 'thanks' for the newsletter, why not buy me a cup of tea?
Until next time,
Nick
PS, If you have something you would like to contribute to the newsletter — a story, advice, anything — please get in touch.
Please note: I am not a financial advisor. My writing about money and financial matters is based on things I have read over the years about money and preparing to retire. IT IS NOT FINANCIAL ADVICE.