In the Soup

There’s a line in the Marx Brothers’ Duck Soup when Groucho (appearing as a dictator of Fredonia named Rufus T. Firefly) says:

Why a four-year-old child could understand this report. Run out and find me a four-year-old child. I can’t make head nor tail out of it.

That can sum up how many of us feel about the current state of technology. I say this as someone who has just come off spending way too much time trying to install a new printer for my computer (many, many tries finally yielded result but there was a lot swearing along the way).

It’s often noted that technology is changing too fast. Just when you adjust and adapt to a new interface or peripheral, they change it. Along comes verification codes followed by two-factor authentication. We adapt as fast as we can, but as many boomers have pointed out, it shouldn’t be this hard to complete what used to be simple tasks. We are rapidly losing proprietary control over our affairs because we are getting technologically inept.

I share the same frustration as Rufus, only now what I would really like to have is a twelve-year old tech guru to help me navigate the daily barrage of technical hurdles. Of course, I want her/him to be bonded in order to protect the nest egg. If that sounds like an extreme step, you have not peeked around the bend to see the next level of encrypted paperless online transactions that will be coming to a computer near you.

The irony here is that most of us naively thought that technology would help us simplify our lives and make them less complex. The true effect has been just the opposite. From banking to borrowing a book, the technology gatekeepers demand more of us every day. If you have not experienced a technical melt-down trying to complete what was once a simple task, you are the rare exception indeed.

Change is inevitable. I accept that. Just wish that it would not come at us at terminal velocity. No such luck. Tech acceleration is here to stay. And don’t even think of trying lure away my 12-year old guru.

Jay Harrison is a writer and creative consultant for DesignConcept. His newest mystery novel, Rio Puerco Demise is available on Amazon. His first mystery novel, Head Above Water, is also available on Amazon. But that’s not all. You can also purchase the Best of BoomSpeak on Amazon.

Richie Rich

Feel like you’re a baby boomer with a target on your back? It’s real. The blame game is alive and well and boomers are once again (or should I say still) a target for the critics. The knives have come out along with the OpEds that declare we’ve effed the whole thing up…again.

The current argument is that boomers hold all the wealth in the U.S. and we won’t give it up yet. Forget for a moment the accusation that we won’t part with our spondulicks, and let’s explore the accusation that we’re rich.

If you’re a baby boomer, the question is simple but uncomfortable: are you “rich,” or are you just average? The answer depends on how you stack up against your peers—and the numbers show there’s a massive gap between the middle class and the elite.

In the aptly named Wealth Ladder, what rung are we on? According to an analysis of Federal Reserve data, the top 10% of boomers has a net worth just under $3 million. Experts say that’s the line between comfortable and rich. Meanwhile, the median net worth for boomers is far lower. Think somewhere between $364k and $410k. Or what you could call not rich. Also known as middle class.

Are we holding on to homes as our primary asset. Guilty. But can average baby boomers really be called rich? Don’t think so. You need at least $3 million to be in that class, and retiring with assets like that is far different than retiring when you’re worth $350k.

Don’t forget there’s a fairly large number of boomers who for a variety of reasons/setbacks have not managed to save more than $30,000 towards retirement, and are falsely hoping that social security will rescue if not sustain them.

To summarize, younger generations shouldn’t picture the vast majority of baby boomers pulling up the ladder to shortchange younger gens. We’ve got our own retirement issues to deal with and will eventually be passing along whatever assets remain.

When it comes to the battle of the gens, I wish everyone would appreciate my favorite fortune cookie saying: It’s nice to be important, but it’s important to be nice.

Jay Harrison is a writer and creative consultant for DesignConcept. His newest mystery novel, Rio Puerco Demise is available on Amazon. His first mystery novel, Head Above Water, is also available on Amazon. But that’s not all. You can also purchase the Best of BoomSpeak on Amazon.