The era of baby boom economic supremacy It is commonly believed that baby boomers - people born from the mid-1940s to the mid-1960s - benefited from the post-war economy. They had good houses, stocks and generous pensions. Young people got expensive housing, unstable jobs and a weakened social system. But the figures from The Economist show that the world is past the peak of this generation's economic influence. In the 1950s and 1960s, the old age was poverty. In Canada, 47 percent of elderly households were considered poor in 1976, compared to 15 percent among 18-64 year olds. In Britain in 1961 the income of a pensioner was about 30% lower than that of a person of working age. By the 1980s, poverty among the elderly had become politically unacceptable. Governments began to raise pensions, monitor payments and expand health care. Many of the Baby Boomers have already enjoyed an increase in real estate and stock prices. According to the economist, in 26 out of 32 rich countries, the situation of the elderly relative to other groups has worsened. In Greece, workers currently earn almost 20% of the pension. In the UK, senior executives could earn 10% more than the median worker if the trend continues. In fact, they get 10% less. In the United States, the income of the elderly has not increased relative to the rest for more than a decade. Young people also benefit from the labor market. The gap between young and old is narrow. The millennial generation is wealthier than any previous generation of its age. Early evidence suggests that Generation Z is getting rich even faster! Why it's happening 1️ The economy is growing: Over the past two decades, the rich world has experienced almost no simultaneous recession. The demand for workers increased wages and it was easier for young people to save. Inflation after the epidemic hit the elderly more. Wages usually rise along with prices, and many pensions are fixed.

The era of baby boom economic supremacy It is commonly believed that baby boomers - people born from the mid-1940s to the mid-1960s - benefited from the post-war economy. They had good houses, stocks and generous pensions. Young people got expensive housing, unstable jobs and a weakened social system. But the figures from The Economist show that the world is past the peak of this generation's economic influence. In the 1950s and 1960s, the old age was poverty. In Canada, 47 percent of elderly households were considered poor in 1976, compared to 15 percent among 18-64 year olds. In Britain in 1961 the income of a pensioner was about 30% lower than that of a person of working age. By the 1980s, poverty among the elderly had become politically unacceptable. Governments began to raise pensions, monitor payments and expand health care. Many of the Baby Boomers have already enjoyed an increase in real estate and stock prices. According to the economist, in 26 out of 32 rich countries, the situation of the elderly relative to other groups has worsened. In Greece, workers currently earn almost 20% of the pension. In the UK, senior executives could earn 10% more than the median worker if the trend continues. In fact, they get 10% less. In the United States, the income of the elderly has not increased relative to the rest for more than a decade. Young people also benefit from the labor market. The gap between young and old is narrow. The millennial generation is wealthier than any previous generation of its age. Early evidence suggests that Generation Z is getting rich even faster! Why it's happening 1️ The economy is growing: Over the past two decades, the rich world has experienced almost no simultaneous recession. The demand for workers increased wages and it was easier for young people to save. Inflation after the epidemic hit the elderly more. Wages usually rise along with prices, and many pensions are fixed.