Boomers often built wealth through investing in real estate, resulting in $82 trillion in assets. Property values soared, allowing them to buy low and sell high.
The job market boomers entered offered greater stability and loyalty. Companies value long-term employees, providing steady career progression. Job-hopping was less common.
Healthcare was significantly more affordable during the boomer era. Medical procedures, prescriptions, and insurance premiums consumed a smaller portion of the income.
Life insurance was a popular wealth-building tool for boomers. Whole life policies offered guaranteed returns and tax advantages. Many used these policies as savings vehicles, borrowing against them for major purchases.
Boomers witnessed and capitalized on the rise of transformative technologies. Early investments in companies like Apple or Microsoft yield enormous returns.
Boomers benefited from periods of lower interest rates. It made borrowing more affordable. This accessibility to credit facilitated wealth-building through property ownership and entrepreneurship.
Boomers experienced a significantly lower cost of living relative to wages. Housing, education, and daily expenses consumed a smaller portion of income.
Stock market trading was more accessible and potentially lucrative for boomers. Information asymmetry created opportunities for those with industry knowledge.
SWIPE UP FOR MORE AMAZING STORIES