I have read a number of articles on this topic and I was disturbed by their tone – It would be sad if such attitudes took hold within our society:
- The greedy BB’s have made a fortune out of property price growth.
- BB’s have lovely homes, whilst GY’s cannot get into their first home.
Seems to be a financial debate, which is why I am writing about it
One of the articles went something like this
- BB’s boomers were able to manage to live on one wage – my mother raised 6 children, then retrained as a plunkett nurse, went back to work for 15 years, and loved it.
Education was free – was it really ? school uniforms, sports gear, bicycles, none were free then or now.
Housing was cheaper – yes it was 4 times the average wage, and now it still is in many regions in NZ.
Not so in Auckland but that can be attributed to higher wages in Auckland, poor government tax planning, and poor town planning by the councils - not the BB’s fault.
BB’s only could afford a modest three-bedroom, one-bathroom house of about 100 square metres. The BB’s grandparents had homes of much less size and quality – it’s called progress. Bigger better homes seem to be norm nowadays so GY’s buy them – why not ?
BB’s had cheaper goods and food – wages were lower too – it’s all relative.
BB’s never got new cars. GY’s don’t either - they might look more affluent in better cars, but most are leased or heavily financed.
Televisions , clothing, furniture, cost a small fortune back then. True but nowadays the GY’s have to have a good computer and I-phone, costing at least $2,000 or they won’t get a job.
The GY’s seem to think the BB’s had it all. They didn’t, but neither do the GY’s.
If the BB’s work, they’re taking jobs off the GY’s – it’s a free world, if you are any good, BB or GY, you’ll get a job.
I was brought up on a farm with tractors that were not that good, 1,000 to 2,000 hay bales a year all hand loaded and later fed out by hand. Not so today with machines and 1 ton bales.
Harvesting was hard work too, with bags of wheat, and no bulk combine harvesters.
It appears that BB farmers had it better than GY farmers.
In BB times 30 years ago, we didn’t hear much about farmer suicides, but we do today – far too many - a modern day tragedy. Even with the all the modern gear, GY farming seems to be much more stressful, not less.
BB’s had cars that were not reliable, not great to drive, and did not last that long either, but they must have had fun. Why ? BB’s nowadays spend a lot of money rebuilding vintage cars and revisiting their past in them, so they must have some good memories.
Being BB pilot, I did fly a Tiger Moth, which was cold, had appalling noise and vibration, and no brakes – fun, but very crude. I must admit to preferring the quiet smooth reliability and high performance of my modern sophisticated microlight (Pipistrel motor glider).
I feel sorry for the GY’s who have entered a world and workplaces of bureaucracy gone mad.
BB’s were so much freer and better off in this regard.
I am not sure it has done us much good either – aeroplanes still crash, and there are continuing financial scams and rip offs.
But what a pointless debate
Some things do not change.
The principles of flight haven’t – fly good aeroplanes, avoid bad weather , and don’t fly low and slow.
Basic financial principles have not changed either;
- learn to save
- get educated for better pay
- or get into your own business – you can
- cover your risks with insurance and emergency funds
- don’t take on too much debt
- pay debt off asap
- don’t have children too soon
- work your way up with patience
- find a balance of living for today and saving for tomorrow
- the higher the return, the higher the risk - still applies
- so don’t invest in junk – buy quality & diversify
Supplied by Alan Clarke, financial & retirement adviser, & author. His second book is virtually complete, & he also writes regular articles for the media & on line – see www.acfs.co.nz
Alan is an independent authorised financial adviser (AFA) FSP26532 & his disclosure statement is available on request and free of charge.