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Four ways to reduce the generation blame game

"OK Boomer" - you no doubt recognise the phrase. Among some Millennials, Gen Zers and maybe even the newest, Gen Alphas, it's the verbal equivalent of an eye-roll. A way for young people to breezily dismiss the attitudes and opinions of Baby Boomers who they disagree with (or with whom they disagree, depending on the generation reading this article).

'OK Boomer' started as a niche meme in online forums in the mid-2010s, but last year, it went mainstream. Fans of the phrase claim it's a pithy comeback to 'snowflake'; an insult they say is routinely thrown at them by older people who think youngsters are overly entitled, spoiled and sensitive.

Is it really the case that generations are more divided than ever before? If so, what's causing it? Why now? And how can we move forward?

These are crucial questions as the world prepares for one of the biggest wealth transfers in history. American Millennials are expected to inherit more than US$68 trillion from Baby Boomers over the next 10 years. In Australia, the over-60s will pass down (or spend) an estimated AU$3 trillion within the next two decades.

With this in mind, perhaps now would be a prudent time to bury the hatchet between the generations.

Where did generational theory go wrong?

I found generational theory fascinating when I first started learning about it several years ago. It seemed logical and intuitive that people of similar age groups would share common characteristics and values based on the political, economic and social environments that shaped their formative years.

As time goes by, however, the conversation has become more toxic. Instead of focusing on the respective strengths and shared goals of each group, media headlines obsess over generational 'splits', 'gaps' and 'divides'. The worst traits of every demographic are exaggerated and mocked.

The generations are now regularly described as being at war with one another.

That's not to say this is a new phenomenon but resentments have clearly risen over the last few years, and Boomers aren't the only generation under a harsh spotlight now.

So, what changed?

According to Jennie Bristow, author of Stop Mugging Grandma: The 'Generation Wars' and Why Boomer Blaming Won't Solve Anything, serious negativity between the generations didn't start simmering until the mid-2000s.

She believes there were two major catalysts: 9/11 and the Global Financial Crisis (GFC). She writes:

"These events had a particular, and profound, impact on the young people coming of age in this fearful new dawn. The 'spirit of the Sixties' - experimental, freedom-loving, boundary-pushing - had never seemed so ethereal.

"And those who embodied that spirit were no longer cast as the bright beacons of the counterculture, but seniors tottering on the brink of retirement, and about to drain what little was left of the national wealth with their greedy houses, rapacious pensions and inflated Social Security entitlements."

Are the generations really at war?

Negative generational narratives have been building since the early 1980s. Back then, people were worried that 'under-achieving' Gen Xers wouldn't be as financially comfortable as their parents.

Unfortunately, policymakers haven't done much to change the mood. Governments have become increasingly worried about ageing populations and the strain that pensions and other state benefits could place on national budgets as the average age of citizens rises.

In the pursuit of austerity measures following the GFC, greater political and media emphasis has been placed on highlighting the have and the have-nots across generations.

But while the generational blame game seems to be a favourite topic among politicians, journalists and other social commentators, research suggests one demographic doesn't buy into it: the general public.

In the UK, for example, a 2017 Intergenerational Commission study found that, yes, young people are very pessimistic about the future, yet very few blame Baby Boomers or government policies that favour older generations.

Survey respondents overwhelmingly criticised house prices (49%), a lack of stable employment opportunities (38%) and the world becoming a more dangerous place (24%). Overly generous state pensions (10%) and older people enjoying a greater share of wealth and income (10%) were considered far less important.

There's even evidence to suggest different generations are closer now than at any other point in recent history, both figuratively and literally. In Australia, more people are living at home with their parents for longer, and the Bank of Mum and Dad is the country's fifth biggest lender.

Two-thirds of grandparents also provide weekly childcare for their grandkids to ease the burden on households where, in many cases, both parents work. And 84% of Australians say they would turn to their family for help in a crisis.

It hardly sounds like generational trench warfare!

Young people today face many problems. Home ownership has plummeted among the under 35s, wage growth has stagnated, and job insecurity is high. But these problems are largely due to structural, economic and socio-political issues, rather than the fault of a particular generation.

So rather than argue over the differences between generations, let's focus on our similarities and strengths.

Passing on the baton

Ultimately, generational theory is just that: a theory. When most people think about their relationships with different generations, it's usually at a much more practical level. We worry about our families - their health, their wealth and their future.

Over the past two decades, I've worked closely with a range of investors from all the generations, and most of them want answers to the same key questions. Will their wealth last? What are the best ways to pass it on? How can they budget for a higher cost of living and medical expenses as they get older?

I've been asking myself similar questions, having had two children of my own in the past few years. If these issues are keeping you awake at night, here are four of my own thoughts on transferring generational wealth.

1. Enjoy your money

First and foremost, the wealth you have built up is yours, so don't be afraid to spend it. As an Xennial with Boomer parents on my side and my husband’s, I feel quite strongly about them enjoying their hard-earned cash in retirement and I would hope most children feel the same way.

2. Talk to your family

According to a Perpetual study, 76% of Australians don't have a Will, and 53% have never spoken to their children about their inheritance or legacy. Conversations about money are inevitably awkward, but communication is key to ensuring a smooth transition of wealth.

3. Educate your children on investing

It's commonly said that 90% of generational wealth is lost by the third generation. A great way to safeguard wealth is to teach children (and grandchildren) early about building a portfolio. Let them benefit now from the vast knowledge you've built up over a lifetime of successful (and sometimes unsuccessful) investing.

4. Leave behind an investment how-to guide

If you find it too hard to talk to your family about wealth and legacy (or you think they won't listen to you while you're alive!), write everything down. Whether it's in a will, a letter of wishes or an informal manual, talk about your investment decisions - the good, the bad and the ugly - as a parting gift. And don't be afraid to add personal stories, jokes and anecdotes.

It's not a time to encourage division

Talk of generational divides may be exaggerated, but it's definitely unhelpful. Now certainly isn't the time for division.

Let’s instead focus our energy on using the strengths of each generation to our collective advantage.

 

Emma Davidson of Staude Capital Limited in London is the Head of Corporate Affairs for the Global Value Fund (ASX:GVF). This article is the opinion of the writer and does not consider the circumstances of any individual.

 

42 Comments
Chris
August 04, 2020

The irony that Keating just called out his own generation today is not lost on me as a Gen-X.

“Take my generation, the Baby Boomers. They want everything yesterday and they want it doubled now. If there was no super they wouldn’t be wanting $23,000 they would be wanting $50,000 now. You look at these young people, I mean a lot of them are on low wages, they carry the HECS charge around their neck before they start, they have trouble accommodating themselves. We are saying, ‘Oh, by the way you can look after the rest of us aged people.’ It’s just fanciful nonsense.”

(p.s. he's right)

Emma Davidson
August 04, 2020

Hey Chris, thank you for this quote. And it's thanks to the Keating Labour Government that a large part of the pensions burden in Australia has been alleviated for future generations which is a wonderful thing. The UK and a large part of Europe cannot say the same unfortunately.

Warren Bird
August 05, 2020

On this occasion I'm siding with the younger generation, along with Mr Keating.

I always believe that specific provision of a public good should be from the budget, from fiscal policy. I remember when there were calls for the government to keep Telstra in public ownership because that's how they could compel services to be provided to the rural areas, my view was that they should still privatise, but then the government should become the customer that buys rural services from Telstra and on-provides them to remote communities. Why wouldn't they do that? Because it meant the government had to pay (and reveal in the budget) the cost, rather than it being hidden from view in a cross-subsidisation within a semi-corporate entity.

The release of cash to people during a public health situation like this pandemic should have been handled totally out of the budget. I say this, not only for the reason that Mr Keating has given (which others have done in the past too) that the early release approach erodes the starting point for retirement savings to accumulate for young people. I have two other reasons:
- fairness to other investors in super. The issue here is that policies allowing early release of funds compel the super fund to hold more liquid assets, including cash, so they have ready funds available to meet redemption requests. That will mean lower returns in the funds, for ALL investors, not just those who withdraw. (I haven't seen anyone make this argument, by the way.) That reduces the retirement savings of everyone in those funds, even those who didn't withdraw. Not by as much, of course, but this is in effect a tax on all other superannuation fund investors. Just like forcing Telstra to provide expensive rural services (paid for by higher charges to other customers), this is a benefit to some that's not costed in the budget or explicitly funded by all taxpayers. Stealth taxes are plain and simple bad policy.
- fairness to the younger generations, by taxing the older generation who largely (not entirely - COVID does kill younger people, as we've seen today - but largely) benefit from the public health campaign. I'm in that cohort, being over 60. I'm furious that so many aren't taking this as seriously as they should and very angry at the Victorian government for stuffing up and for the NSW Government for not closing (properly closing) the border quickly, or even now! The benefits of the previous lockdown have been blown away or are at risk of being blown away. But when it comes to who pays for the costs of providing income support, etc, I'm more than happy for a tax increase for folk like me who can afford it to be part of the mix. Either later, when borrowed funds have to be repaid, or to some extent even now (though the economic signalling of raising taxes during the pandemic is problematic).

We have saved during our lives for rainy days. It's raining pretty hard right now and it's right that our accumulated wealth is drawn on to help us out. If that means some of it is taxed to pay support for younger folks who have to do without a job for a while to protect our health, then that's what it's there for.

As an economist, this is about the incidence of taxation. The cost of public policy has to fall in the right places. Early access to super creates costs where it's not meant to fall. It's dumb policy.

Emma Davidson
August 05, 2020

Hi Warren, thank you so much for your comment, I really enjoyed reading it.

For me, it is comments like yours that prove my point; in the end, we are all in this together and each generation wants the fairest outcome for all.

As for your two points, well made.
On point 1, I would agree that I have not heard or seen this point made and it's an insightful one.
On your second point, while I see the rationale and it would seem fair to me, I just don't see any politician putting their neck out like this, do you? Maybe I am wrong.

Anyway, thank you for taking the time.




Tony Dillon
August 06, 2020

All fair points Warren. And with the early release of funds, it has indeed meant that super funds hold more cash. Also, there are more risk-averse members as a result of covid, who are moving money out of balanced funds into cash funds. And all up, this big movement has exposed illiquidity issues in those so-called balanced funds, that may not be as ‘balanced' as investors are led to believe.

In particular, industry funds have been exposed to ongoing excessive valuations of illiquid assets held in those balanced funds. Unlisted assets never intended to be realised, with liquidity propped up by a steady inflow of compulsory super contributions and endless economic growth. Unrealistic valuations that propped up comparisons of returns with retail funds, and bumped up bonuses for investment managers, and management fees as a percentage of funds under management.

Now needing to liquidate those illiquid assets at less than valuation, balanced fund returns are being pared back and the jig is up.

What did Warren Buffett say once? Something about revealing naked swimmers when the tide goes out?

Dave Perrigo
August 03, 2020

Great article, read with interest. Very thought provoking!
Speaking to my clients currently with the world situation this has never been so important. Live well for today, talk to your family and relish every moment you spend with those you love as you don't know what's round the corner!

Emma Davidson
August 05, 2020

Thanks Dave, appreciate that feedback, it means a lot and you are so right, we never know what's around the corner.

Rhonda
August 02, 2020

A most interesting and thought provoking article, Emma, and your 4 suggestions on transferring generational wealth is very sound advice
It is true that the baby boomers (1945+) grew up in a time of prosperity and optimism with full and permanent employment and house ownership, and with little media intrusion into their lives.
While today's’ generation live in different times, with uncertain employment in a rapidly changing technological world and with increasing casualization of the work force. No gold watch for them after a life of permanent employment, often with the same employer!
Coupled with a later entry into the work force, due to longer educational requirements and a need to be prepared to re-skill/retrain, so as to ‘hang in there’, it is understandable that there is anxiety.
However I feel the so called ‘intergenerational wars’ is often a media beat up especially in ‘no news' periods. The constant news feeds and social media all have played a part in accelerating these wars.
My feeling is that both generations, to a large extent depend on each other – often more than they are prepared to acknowledge. I’m also certain that when prodded most would agree that they prefer the time when they grew up over other times.
Baby boomers should enjoy their accumulated wealth, but they also get great enjoyment by helping out their children financially (if possible) and of course with child care. While sometimes not at first, the present generation do come to appreciate this. As their parents age, the younger generation, mostly ‘come to the fore’ in providing help, support and comfort.
Intergenerational wars are not new, even Socrates complained about the younger generation. – “they now love luxury, show disrespect for elders and are now tyrants”. But somehow we all have survived these wars.

Emma Davidson
August 03, 2020

Thank you for your comment Rhonda, the quote from Socrates puts everything into perspective. On this comment: "My feeling is that both generations, to a large extent depend on each other – often more than they are prepared to acknowledge." I agree with you wholeheartedly. In fact, as I have matured and had my own children, so I have relied on my parents and in-laws more than ever and actually find myself wanting to spend more time with them for their calm and wisdom.

John Summers
August 02, 2020

Best way simplify the Inter generational problem is to increase taxation on Wealthy.
Increase tax on large estates
Increase tax on Debt funded investments
Increase Capital Gains Tax
Remove Dividend Reinvestment benefits
Encourage Equity funded investments with appropriate policies

Emma Davidson
August 03, 2020

Thanks for the comment John. I could write an entire dissertation on this topic arguing both ways to be honest but I'll spare us all I think. I just don't think it's that easy (or fair) to just tax the wealthy. For example, in the UK, the top 1% of earners in the country account for more than 1/3 of income tax. If these people then end up wealthy after paying this much tax, is it fair to just tax them again? I am not so sure. Luckily, the Australian fiscal situation is leagues ahead of the UK in terms of having it's books balanced so hopefully it wont come to these sorts of decisions having to be made.

Tony Dillon
August 01, 2020

Thanks for the article Emma.

I’m not so sure if the generational divide is as pronounced as it is often made out to be.

My wife and I are on the Gen X/Boomer cusp, and our children are older millennials. And we have an amazing relationship and friendship with them, and we find their circle of friends very friendly, hardworking, and level-headed. A small sample I know, but I just get the vibe that angst between generations is overplayed.

The fact is the world keeps evolving. Since our youth, it’s now easier to travel (at least pre-covid), connectivity is constant, and we have the technology revolution. Sure millennials have different priorities and different challenges, and so they should because generational experience doesn’t repeat. You adjust to the conditions of the time. And interventionist policies that try and equalise generations is often pointless and at times divisive. We should let the market play out and allow the participants to adapt. Each generation will develop their own resilience, and will find a way.

So I think your conclusion is spot on.

Emma Davidson
August 01, 2020

Hi Tony, how wonderful to hear regarding the closeness of your family and thank you for your comment, I appreciate your feedback and agreement with my conclusion :-)

AlanB
August 01, 2020

There is nothing new about a generational blame game. In the 1960s it was known as the Generation Gap. The older generation called the Baby Boomers long-haired lazy hippies whose only goal was to "turn on, tune in and drop out". But somehow that BB generation survived and thrived.
Nor is there is nothing new about finding faults in the younger generation.
Aristotle: "They [Young People] have exalted notions, because they have not been humbled by life or learned its necessary limitations; moreover, their hopeful disposition makes them think themselves equal to great things -- and that means having exalted notions."
In the Living Years, Mike and the Mechanics sang:
Every generation
Blames the one before
And all of their frustrations
Come beating on your door
I know that I'm a prisoner
To all my Father held so dear
I know that I'm a hostage
To all his hopes and fears
I just wish I could have told him in the living years

Emma Davidson
August 01, 2020

Thanks for your comment Alan and you have a point, so perhaps all will be well in the end :-)

Thanks for the reminder on that Mike & Mechanics song as well, might just play it now.

Jane
July 31, 2020

Rather than focusing on the opening paragraph - I want to comment on the final line " lets focus our energy on using the strengths of each generation to our collective advantage"
I am a Boomer and spend most of my time with them and we do pat ourselves on the back a lot - "Good with Money - Good parents - Our way was the Best Way " etc etc. Maybe the stars just lined up very nicely for us and we should learn a lesson as "Good parents" who taught our children not to boast about our achievements and be humble.
There were always people in every generation who felt the world owed them a living - they mostly fade into oblivion and noone remembers them - Each generation faces different challenges and the best will "bob to the top" regardless.
Focus on the strengths and learn from them - everyone.

Emma Davidson
July 31, 2020

Hi Jane, thank you for your comment and point of view, I am glad you pointed out what I hoped might be the takeaway here :-) i.e. 'Lets focus our energy on using the strengths of each generation to our collective advantage'

Also appreciate your honest perspective and your advice to us all.

Peter Tesoriero
July 31, 2020

Very interesting article and one which still leaves me intrigued.
I was the executor to my late brother's estate, which was very divisive and I found it difficult to keep the warring factions, from tearing each other apart. As Executor, I had absolutely no idea of the financial structure of my brother's estate. I think I lost 4 years of my life, with the resultant stress
I am now ever so mindful, not to leave my executor / executrix ,with a mess to sort out. I have already given a copy of my will to all my nominated beneficiaries. Whats more, I have compiled a five page summary of the financial status of my assets, together with an explanation of how future investment decisions will be based on certain fundamentals...explained how things are filed and where these documents are stored. A copy has been given to my accountant, solicitor and the nominated beneficiaries. So hopefully when my time comes, my family will have no dramas handling my estate. Did not find it difficult to talk to family about all these matters. Hard to believe from your article that so many people do not even have a will. So my advice is be brave and discuss these issues now, whilst you are alive and kicking

Emma Davidson
July 31, 2020

"So my advice is be brave and discuss these issues now, whilst you are alive and kicking" I love it.

Peter, thank you for sharing your story, your experience is exactly what I wanted to highlight with my article and I think your comment has done just that!

Mark
July 31, 2020

I think that most families fail in the Points 3 and 4. Many parents don't really understand money and investing and the bad habits of short term speculation are often passed on to the next generation.

Emma Davidson
July 31, 2020

Thanks Mark for the comment, I appreciate the time. If you are right then hopefully, we can stop these bad habits and evolve? That is all we can hope for right?

Emily
July 31, 2020

Intergenerational phycology and relationships are such a fascinating topic and I really appreciate the insight. Its interesting that the divide seems to have been inflated by the media! But heartwarming that so many Australian's have the ability to rely on their families in times of crisis. As someone who's watched parents, in-laws and grandparents work so hard for their money, I am in complete agreement that they enjoy their money! While memorable experiences don't need to revolve around money, I'd like my parents and grandparents to feel less worry and guilt around enjoying money and take a breath to realise what they have accomplished. I also agree wholeheartedly with education and communication through the generations and think both sides can offer great wisdom to each other. Thanks for a great read!

Emma Davidson
July 31, 2020

Hi Emily, thank you for your comment and thank you for reading the article. And yes, so great that Australians have such a strong ability to rely on their family. I am with you on your comment that 'both sides can offer great wisdom to each other' To quote the great Albert Einstein: 'Once you stop learning, you start dying' Thanks again Emily.

RodL
July 31, 2020

I am a Baby Boomer, my parents and grandparents lived through the depression of the 1930s and wars, they valued “thrift and self-reliance” as noted by DougC above, and they passed these values on to me.

I was very fortunate to come from a stable "middle class" family who also valued education which I am very grateful for as I received an elite education which has allowed me to be successful, which sees me financially secure. I see many people around me either by bad luck or bad management who are not.

As such I believe I have an obligation to invest in the future, both in monetary terms and more figuratively.

A couple of ways in which I try to do this are: investing in New Technology, Research and Development, donating to Charities and encouraging young people to get an education, be independent and be self-reliant so they can contribute positively to society.

I would encourage others who like me are fortunate and have accumulated wealth through hard work or luck or a combination of the two to likewise and invest in the future.

Emma Davidson
July 31, 2020

Wow, thank you Rod, your comment here is inspirational and truly warms my heart. And thank you for the honesty of your situation.

Those values of thrift and self-reliance are the values that I believe all generations want to pass on to the next generation and hearing someone like you working to encourage this is just awesome.

Sam
July 31, 2020

Housing and jobs, solve those and you'll solve the problem. Only problem is boomers control the political power through the ballot box and no amount of posturing to the contrary will lead a politician to prick the housing bubble. Likewise while wages continue to stagnate and jobs become more precarious boomers exhort the dwindling workforce to work harder and longer to pay for their gold-plated retirements. Large inter-generational wealth transfers are a sign of failure not success as it indicates older generations are accumulating an increasing share of the pie and exacerbating inequality if/when they transfer that wealth to the chosen few.

Emma Davidson
July 31, 2020

Hey Sam, thank you for an insightful comment here, I really appreciate it. And I would tend to agree with your point that the wealth transfer is exacerbating the inequality issue. The thing is though, humans by their very nature (or at least in my experience) are competitive and so will always compete for more and more which ultimately leads to this inequality. I am optimistic though (thanks in part to the internet and our increased connectedness) that the world now sees this inequality and frankly, I don't think the majority of us like it. I believe things will change but it may take time.

ian
July 31, 2020

Do you equate inequality with inequity? Are you accepting that inequality is increasing? What is your time perspective (just the last 50 years?). Are you thinking locally or globally? A lot of sloppy thinking around these issues encourages these so-called generational conflicts.

Jen
July 31, 2020

Sam - how would you solve the housing and job situation ? Keen to hear ideas.

Which boomers have the gold plated retirements ? I am sure you don't think that everyone over the age of 56 and under 74 has access to huge funds for their retirement. Most women didn't even start to get any superannuation till 1991. Try getting a job over 55, its not all sugar and light for this age group either.

Sam
July 31, 2020

Hi Jen, in short, with difficulty! Housing is probably easier as the problems are easily identified; stamp duty (time for a land tax), planning restrictions creating artificial scarcity, lack of infrastructure, building supply cartels and a banking system incentivised to leverage residential property as much as possible (don’t get me started on the capital requirements for residential mortgages). Creating (good) jobs is going to be more problematic as I can only see technology displacing more lower skilled workers and I don’t think the education system is best placed to solve this. Maybe a UBI is the solution as a vast underclass of under/unemployed is obviously unsustainable.

Obviously my comment about retirements is a gross generalisation and many women in particular should rightly feel aggrieved. However the reality is defined benefit pensions are a thing of the past and many in the younger generations will be accessing their pensions to pay off mortgages if they’re not still renting. Superannuation tax concessions for higher income earners have been egregious (imputation refunds??) often to accumulate vast pension pots. As Emma says it is human nature to strive and compete but I struggle to see the point of accumulating wealth for the sake of it when it so obviously impacts the relative prospects in life for those born in the wrong place or time.

Kate
July 31, 2020

Thanks for sharing this Emma. I think that different generations are quick to judge one another rather than celebrate their differences. I think there is a lot to learn from the generations and I have done so by learning from my parents and grandparents. I do think that they should enjoy their own money and teach their children how they invested their money. I do think it is important to remember that the investment approach might not always work in the current environment and so it might require conversation and working together to come up with a strong investing strategy.

Emma Davidson
July 31, 2020

Thanks Kate, really good to hear your view point and thank you for taking the time. I am with you that the investment strategy of the next generation may not be the same as the previous one but rather one forged from previous experience and then mixed with the next generations insights.

Emma Davidson
July 31, 2020

Hey Kate, thank you for taking the time to read this article and thank you for your comment. I think the quick to judge each other is something we could get better at for sure and you are right, it is the collaborative mesh of ideas that will result in the best outcomes as opposed to one generation telling another what is what.

DougC
July 30, 2020

There is a lot that could be added on this subject but I make just two observations (I am a self-funded retiree well into my 70’s) about the society (obviously mostly much younger) that I see around me now. The observations are that two universally important values seem to have become largely eroded over the years; they are thrift and self-reliance.
On a societal scale they result in consumerism, waste and obsolescence, and endless entitlement.
I could list countless examples but will just add 2 anecdotes : “Buy, buy says the sign in the shop window; why, why says the junk in the yard” (Beatles) and “The World does not owe you a living, it was here first” (Mark Twain / Samuel Clemens).

Emma Davidson
July 30, 2020

Hi DougC, thanks for your comment and thank you for reminding us of a great quote there from Mark Twain.
I am curious about your comment on thrift and self-reliance being less in younger generations, can you tell me more about you experience and why you have this view?

Think
July 30, 2020

What's causing it? Articles and opening paragraph's like this one.

Emma Davidson
July 30, 2020

Fair enough, appreciate your point of view.

Simmo
July 30, 2020

I note the generation 'war' is between Boomers and Gen Y. Gen X and their War Baby parents don't seem to have these issues.

Emma Davidson
July 30, 2020

Hi Simmo, thank you for your comment. It's possible that media coverage has focused more on these two generations in particular because of their size and prominence but yeah, I'd agree that Gen X doesn't seem to have had as many issues, perhaps because of sharing traits of both generations? Who knows.

biggusriggus
July 30, 2020

"The wealth you have built up is yours, so don't be afraid to spend it" seems like pretty frivolous advice if you ask me. I'd suggest that one might find a somewhat disciplined approach to money will be more fulfilling in the long run. You never know, it may turn out that the most meaningful activities require little spending at all.

Emma Davidson
July 30, 2020

Hi Biggusriggus, thanks for taking the time to read the article and comment. And you are right, the most meaningful activities and experiences often don't involve spending a cent so yeah, its a good point.

Emma Davidson
July 30, 2020

Hi BiggusRiggus, thanks for the comment and for reading the article. And you are right, the most meaningful things in life don't require much spending at all.

 

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While its impact will take time to unfold, 5G will meaningfully change the world. Once adoption takes hold, there is huge potential for its application across a wide range of industries.

Property

Australian house prices: Part 1, how worried should we be?

Three key indicators are useful for predicting the short-term outlook for house prices, although tighter lockdowns make the outlook gloomier. There is enough doubt to create cause for concern.

Property

Australian house prices: Part 2, the bigger picture

There is good reason to believe the negatives will continue to outweigh the positives over the next 12 to 18 months. There is more concern about house prices than the short-term indicators suggest.

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