So those freeloading Hippies of the 60s by virtue of being born now pretty much own the joint! They not only destroyed the planet enviromentally ignoring global warming for there super fund balance but have left the next generation renting off them to top up the retirement fund and take care of the cleanup.Baby boomers hold half Australia's household wealth and are better financially prepared than many people believe, a report shows.
The AMP, National Centre for Social and Economic Modelling (NATSEM) report, Baby Boomers - doing it for themselves, reveals four out of five baby boomers own their own homes and hold an average equity in their homes of $161,000 per person.
The 45-64 year age group makes up about a quarter of the population while three quarters of those have an average net wealth of $381,000 and carry average debt of $59,000 per household, the report found.
Boy o boy if i was a 20 something (earning less than 100k pa to service the average mortgage) in this day and age i would be mighty pissed off with my Imperial masters, The Baby Boomers!
Ahh those baby Boomer sob stories of "how tuff we had it" will never sound the same again.
/ready for a flaming.