More Baby Boomers Like Me Are Retiring As Millionaires — 'We Are Poster Children For Staying The Course'
From groovy to gravy train for Baby Boomers.
AdamRadosavljevic | Canva “The New 401(k) Millionaires” proclaims one headline.
According to news reports, the stock market has made many Baby Boomers happier — or at least wealthier — as the on-paper owners of more assets.
I can hear the “Okay, Boomer” refrains out there as we are accused of good timing which has nothing to do with anything other than birth years in the post-World War II boom years. We’ve benefited from recent and long-term stock market growth, regardless of the color of our political stripes.
This seems so strange since we were anti-materialism at age 18, and now rub our hands when we look at our retirement accounts. I was anti-materialist and didn’t care about money — until I was worried about not having any.
My frugal depression-era parents taught me the tricks of “good enough” and tamping down wanton wants. I was happy seeing how many miles I could get out of a car and bought used, or similar cheap skate games.
I worked for years for non-profits, and my idealism changed into pessimism and then realistic expectations, the path many of us take. I overheard my son, who I regard as a young thing, but realize he is approaching forty, talk about the shift in his idealism to compromise across the many realms of life. I laugh now when I think of our anti-materialist pontifications as emerging adults.
Many of us Baby Boomers were raised in suburban cookie-cutter developments, saved Gold Bond stamps, mowed lawns, and babysat for 35 cents an hour to go to the Saturday matinee with friends.
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I had to loosen up about condemning “the rich” when that meant anybody who had more. I consider myself rich, richer than I’ve ever been, which is true.
I don’t have to worry about saving for anything anymore, and the calculations show I probably won’t outlive my money. I am happiest puttering in my garden, minding my two-bedroom apartment, and getting lost in a good book. None of those things are very expensive
I can afford to go out to dinner or on the occasional trip. I try to volunteer and participate in charitable giving up to the point that assuages my guilt for the inequities in the world and my town.
I have given up solving social injustices in my lifetime, although I understand we need to contribute where we can how we can. I understand I am entitled, but I am 70 and I do not fret about it other than try to live life as a good person.
I know from reading other writers on this site that we all have our unique life experiences. Some folks struggle, a lot, for economic reasons, social justice reasons, health reasons, or other reasons. Age is a burden to some, a source of anxiety.
Life’s roller coaster provides ups and downs, expected and not. Global catastrophes, personal ones, or both are out there, we all know that. But if you are on top for now, hold up your hands and shriek in delight.
I am reminded of having low expectations as being key, per the overheard conversation years ago: I was in the elevator with three ladies who lunched. One said to a friend as a third woman departed the elevator. “She always seems so happy.” “Yes,” her friend replied, “but she has low expectations.”
To my fellow Baby Boomers: May your expectations be exceeded. May your retirement account make you smile. May you raise your arms at the top, anticipating the rush before the car slows to stop.
Sharon Johnson has written stories published in Chicken Soup for the Soul, Woman's World, Smart News, Medium, Oregon Humanities Magazine, and others. She is a grandmother living in Oregon.