"The boomers are in the box seat: the hoary are healthier and wealthier than ever before. In the boomer bonanza, longevity has replaced maturity and there is no shortage of codgers with plenty of cash.”
“Still hoping to die before they get old - or at least very old - they are big buyers of anything that will keep them away from Zimmer frames, cardiac surgery and Alzheimer's disease.”
The article in The Age is worth a read, if for no other reason to brush-up on the subtlety and tenderness of Australian’s use of English.
There are some interesting quotes from the National Centre for Social and Economic Modelling at the University of Canberra. It showed that:
“By 2003, those aged 40 to 54 held an estimated 38 per cent of total household wealth, up from 33 per cent in 1986”.
“The share of total wealth held by 25 to 39 year olds declined from 27 to 19 per cent over the same period. Between 1986 and 2001”
“The over-40 group almost doubled its wealth. Generations X (aged 23 to 29) and Y (aged 22 and younger) struggled to maintain their share.
Dick Stroud: www.20plus30.com
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