Which generation is the biggest threat to your own generation’s financial future?

Boomers. Question answered. Am I done?

But we can’t blame the Boomers directly. They were only such a large generation because the parents who spawned them were so darn … horny! When I think about my grandma – the credit card addict – just writing that sentence makes my spine shiver. It’s that whole visualisation of sex and old people thing. YEEEWWWW! You know what I mean.

Sure, their men were away at war for a long time. But, wow, did they make up for it! They were at it like rabbits for nearly 20 years producing what’s now known as Baby Boomers.

The threat is caused because Gen Xers are going to have to fund Boomers retirement, creaking bones and descent into decrepitude. The “brainwave” of superannuation wasn’t invented early enough to fund Boomers’ retirements properly. It was designed so Xers could fund their own retirement, plus that of Boomers with taxes while they were still working. Bum rap for us.

There are just so many of them (and the buggers are going to live longer than previous generations) that the invoice for the healthcare to look after their weak tickers, failing eyesight and Zimmer frames is going to be humungous.

If we think the nation’s healthcare costs a lot now … well, like Bachman Turner Overdrive, “We ain’t seen na-na-nothing yet”. (Grandma, we might need to borrow your credit card for a while.)

Gen Y that willl be picking up part of this bill. And, largely, it’s for their parents.

Damn those Boomers!

Bruce Brammall is the author of Debt Man Walking (www.debtman.com.au) and principal adviser with Castellan Financial Consulting.