I'm a boomer - half of my generation is barely surviving on state pensions

I have friends selling their homes and cars to stay afloat. It's tempting to attack an entire cohort, but inequality has deepened across all generations

 

https://apple.news/AFrfJcseGS_CnHbI3VyHsfw
 

 

not surprising

4 minutes ago, 3NUMBAS said:

https://apple.news/AFrfJcseGS_CnHbI3VyHsfw
 

 

not surprising

I wonder is there is a difference between early boomer and late boomer.  The USA is also seeing this problem. 

4 minutes ago, 3NUMBAS said:

Baby booomers struggling in old age 

Not in Australia, these guys are filthy rich 💲💲💲💲💲💲

10 minutes ago, Fact said:

I wonder is there is a difference between early boomer and late boomer.

You must be a late boomer 

11 minutes ago, novacova said:

You must be a late boomer 

I am. 

Just now, Fact said:

I am. 

Lucky you. As many here are well past that stage.

We are the last "golden generation". Most of us are not "struggeling".

 

But for future generations the word "struggeling" will become a new meaning as all "social security concepts" will have imploded.

Go woke ...... go broke .......

If you made it to retirement and actually need your pension to live on, you did something wrong. Actually, you did a lot wrong.

9 hours ago, swissie said:

But for future generations the word "struggeling" will become a new meaning

Most definitely.

30 minutes ago, gargamon said:

If you made it to retirement and actually need your pension to live on, you did something wrong. Actually, you did a lot wrong.

Could you elaborate? I have nearly 120K/year in pensions, how should I not "need" them?

44 minutes ago, gargamon said:

If you made it to retirement and actually need your pension to live on, you did something wrong. Actually, you did a lot wrong.

Why do you say this? 

On 11/7/2025 at 6:45 AM, SAFETY FIRST said:

Not in Australia, these guys are filthy rich 💲💲💲💲💲💲

Is this wealth in housing or cash? 

23 minutes ago, Peter Crow said:

Could you elaborate? I have nearly 120K/year in pensions, how should I not "need" them?

I prefer having enough money that the 120k is irrelevant. I applied for social security last March, to start in July. Still haven't heard from them. It doesn't matter as I don't need that to live on. I'll get a lump sum payment back to July when the SS actually gets their act together. It might be 2028 or later but it makes no difference to me.

2 hours ago, gargamon said:

I prefer having enough money that the 120k is irrelevant. I applied for social security last March, to start in July. Still haven't heard from them. It doesn't matter as I don't need that to live on. I'll get a lump sum payment back to July when the SS actually gets their act together. It might be 2028 or later but it makes no difference to me.

Your perspective reflects financial privilege, I'm happy for you, but needing your pension or Social Security in retirement isn’t a sign of failure—it’s the system working as intended for millions. 

2 hours ago, gargamon said:

I prefer having enough money that the 120k is irrelevant.

For you perhaps - but that doesn't mean it is irrelevant.

120k in $ or £ is between 3.6 and 5 million baht a year, every year until death and probably with no issues regarding any market volatility.

 

Based on posts on AN I would suggest that is more than most on here would ever need - so definitely not irrelevant 

4 hours ago, gargamon said:

If you made it to retirement and actually need your pension to live on, you did something wrong. Actually, you did a lot wrong.

Most elderly western retirees need their pension to live on.

I paid more than 20% of my life income to fund my pensions.

3 minutes ago, BritManToo said:

Most elderly western retirees need their pension to live on.

I paid more than 20% of my life income to fund my pensions.

Thankfully I'm not one of the mass hordes. I paid less than 5% of my life income to fund my pensions in 2 different countries that I am not yet collecting. Stopped working for my money at 45 and let my money work for me instead...

1 minute ago, gargamon said:

Thankfully I'm not one of the mass hordes. I paid less than 5% of my life income to fund my pensions in 2 different countries that I am not yet collecting. Stopped working for my money at 45 and let my money work for me instead...

I also stopped working at age 45.

Never needed to make my money work, I had enough by then.