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I just feel if the boomers had been better educated about money, their finances wouldnt be so poor. Imagine the innovation they could have driven if they had invested their money wisely.
The way Boomers manage their finances drives my wife and I nuts. Of course, we're specifically thinking about our parents.
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Yes, its crazy. I feel they really stagnated after being able to improve their quality of life for a little while. No wonder they all seem to have a midlife crisis.
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One of their generational traits was a willingness to take big chances in pursuit of their dreams.
That can really allow for rapid gains in quality of life, but it's not the best approach to personal finance.
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They seemed more interested in fitting the mold instead of breaking it. Mindless workers for 40 years.
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The description seems to be universal, applies in my country, and even to my parents. But, what we should be asking ourselves is: what caused that? what promoted such behaviour? From my perspective, what seems to promote that are stagnant societies, where things seem to not to change, so fitting is appropriate, for breaking the mold leads nowhere.
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