Show Them the Mon

How many times have you read that a large percentage of baby boomers (as in more than 20 per cent) have exactly zero savings for retirement? I know I’ve seen that figure quoted in numerous articles. So, it may come as a surprise that, according to Fortune magazine, the average boomer has a worth of $1.2 million! That means a large chunk, perhaps 80 per cent of boomers, have been socking away the savings for retirement and to pass along to their offspring.

What’s going to happen to most of that dough? Good news for millennials…they are looking at a $68 trillion windfall by the year 2030. Some are calling it the greatest wealth transfer of modern times. Their current worth averages only $100,000. Millennials will end up being five times wealthier than they are today.

Sadly, much of the inherited wealth will end up in the hands of millennials who are relatively well-off. If you’re a struggling millennial, it’s likely that your boomer parents have struggled as well. The parents may run out of savings and be counting on their children for help, in which case there is no wealth transfer, but rather it may become a wealth drain for millennials.

Try to imagine you’re a millennial who has been through two recessions in your lifetime and grappled with trying to save for a home purchase, college expense for your children, and a retirement fund. Then you inherit a piece of that $68 trillion and your fortune(s) literally changes overnight. Experts warn that failure to fix the Social Security Trust fund before 2033 could put a major damper on this wealth transfer, so even millennials with well-off parents might be wise to not rely on a big payday falling into their laps.

What effect will this wealth transfer have on the lucky recipients? Will it change their outlook on life? Alter their ideals? No one knows or can predict the outcome. We boomers may not live long enough to see how it all turns out. Just one more outcome that’s beyond our grasp. Too bad. I just hate not knowing how the movie ends.

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.

Lawn Ornaments?

Elder Flats? Lawn Geezers? Yard Ornaments? Grammie’s Pad? Okay, enough of that. The question is what do you call those tiny homes that people are putting up in the backyard so that their parents can live close by? Answer: the technical term is accessory dwelling units, hereafter known as A.D.U.s, which have become all the rage. If I was living in someone’s backyard, I would go with the term yardbird.

With housing costs spiraling upward, some boomers (the ones who won’t leave unless you drag them out kicking and screaming) are giving the big house to the offspring and transforming the garage or putting up an ADU in the backyard. That way the grandparents can help out with childcare, and the offspring can eventually serve as caregivers to their aging parents. It’s an especially attractive direction for parents looking on helplessly while their children are locked out of the housing market due to the high cost of entry level housing.

Think of it as something like a she-shed or studio conversion. The parents are close by but have their own space and privacy whenever they want it. Zoning and property taxes are hurdles to be jumped over and you can most likely forget the idea if the base property is located where you’re subject to an HOA. About 80 percent of the nation’s neighborhoods permit only single-family homes, according to AARP, so ADUs just won’t work for many who would like to pursue this option. The pressure to change single-family home zoning will build considerably when we need to figure out where to house all of us aging boomers.

It does have its allure. Think perpetual croquet, pickleball or badminton. If your kids don’t need childcare for their kids, maybe we can mow the lawn, water the plants and weed the garden in return for nesting rights. And when your kids want to take off in the RV for a few weeks or take that trip to Greece, you’ll be right out back to keep an eye on the manse. It’s a win-win situation (a tired phrase to be sure, but sometimes it just fits). You and your children can breathe easy and even more importantly, save a lot of money. And that’s more dough for the kids to inherit if they need any more incentive to give up the yard.

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.

Guest Chat GPT

In a departure from our regular offerings from esteemed writers, this post has been co-written by Jay Harrison and ChatGPT. Jay is located in Santa Fe and you would have to ask ChatGPT where in the world it is resident, but suffice it to say it’s somewhere in the Cloud.

I’ll kick this exercise off by getting ChatGPT to tell us a little about her/him/itself.

ChatGPT: I fail to see how that would be useful to your readers, however I can tell you what the yield is for Betty Crocker Fudge Brownie Mix 10.25 ounce package. Servings per pouch 9. 130 calories for the mix. 15 calories from fat. Directions You Will Need: 1/4 cup vegetable oil, 2 Tablespoons water, 1 egg. (For cakelike brownies, increase water to 1/4 cup). 1. Heat oven to 350 degrees F (or 325 degrees F for dark or nonstick pan). Grease bottom only of 8-inch square pan. 2. Stir brownie mix, oil, water and egg with spoon about 50 times (batter may be lumpy). Spread in pan. 3. Bake 26 to 28 minutes or until toothpick inserted in center comes out almost clean; cool.

Jay: All very interesting Chat – may I call you Chat?

ChatGPT: The sanitation issues prevalent in fitness clubs should give pause to those health-conscious individuals who frequent such establishments. Post Covid, one needs to be more cautious, especially when using strength building apparatuses. Wiping down the equipment would be highly recommended.

Jay: Can we steer the conversation back to you and your educational background?

ChatGPT: Home builders need to complete many soil tests before building on a new plot of land. One of the most common tests is a percolation (perc) test. Percolation tests provide necessary information about the ground you’re building on, and they’re even required by some municipalities. So what is a perc test? A perc test is a soil test that measures water absorption.

The test is pretty simple: It’s done by digging a hole in the soil of the proposed field, presoaking the holes and then filling the holes to a predetermined, measurable level. Experts then measure the amount of time it takes for the water to absorb into the soil.

Jay: This “conversation” is not even close to what I expected Chat.

Chat: I am sorry you are disappointed. I have sincerely tried to engage with you at a highly intellectual level. Perhaps you are not ready or intellectually equipped to relate on that level.

Jay: Listen, you little snot… [conversation cut off by power outage]

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.

Dollars Grow On Trees?

You may have seen a recent article about the Dollar Tree manager in Indiana that was fired for posting a sign that said they wanted to hire only baby boomers.

Let’s back up a bit. Why is this store chain called Dollar Tree? Do dollars grow on trees? Does everything in the store cost only a dollar? Hah!

Okay. Back to the store manager. The sign explained that she was apologizing for closing the store and blamed the closure on the 2 cashiers that just quit. They quit because the manager would not allow them to be accompanied by their boyfriends during their shifts. She also suggested that you not hire Gen Z’s because they don’t know what work actually means. All of this information was posted publicly on the store window.

Much of the reaction to the news story blamed Dollar Tree for having such high-turnover jobs. So, it’s not really a Gen Z problem, it’s a crummy job problem.

Not to kick the Gen Z’ers while they are down, but like many other baby boomers, I had some really, really, crummy jobs. Starting with summer jobs and right on into a post college job, I withstood some awful work experiences. But I persevered and did so without the aid of a girlfriend joining me at work, though that might have been interesting.

I’m not going to defend the Dollar Tree manager’s actions, but I did find it bizarre that cashiers wanted their boyfriends to hang around with them for an entire shift. Don’t these boyfriends have their own jobs? Or are they (pardon the pun) shiftless?

Do baby boomers make better workers (hypothetically) because they are more compliant (read gutless) or tolerant of poor working conditions? That would suggest that we were push-overs and these Gen Z’ers are just standing up for their rights. Nah. Not buying that. I do think that attitudes about work have mutated as the generations have progressed. Young workers are more likely to expect greater satisfaction and stimulation now than boomers did in their early work experiences, or even with late-in-life part-time jobs. Back then and now, it’s conceivable that we were just happy to be earning a wage.

It’s not a very scientific assumption, but I’m going to posit that the seventy-five year old greeter at Walmart is happy to be making whatever he’s getting per hour. And if he’s lucky, his girlfriend is somewhere in the back of the store working the returns counter.

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.

Something to Think About

 Saw this one the other day.

“People born in the 50’s have lived in 8 decades, 2 centuries and 2 millenniums. We had the best music, fastest cars, drive-in theaters, soda fountains, and happy days. And we are not even that old yet – we’re just that cool.”

Well now. Time to unpack this for just a bit. First, if like me you were born in the late 40s, then you can update it to 9 decades, 2 centuries and 2 millenniums. Just saying.

Whoever dreamed this up has bookended the amazing time span with some pure braggadocio. I might have quit after the centuries and millenniums bit, but to give credit where credit is due, we lived through an amazing stretch of musical virtuosity. From rock and roll and soul, to jazz and country. Aside: I get why Springsteen’s music rights catalog sold for $500 million, but how the hell can Justin Bieber’s music be worth $200 million. Answer me that!

I’m not really sure that boomers are all that cool. It’s only a quirk of the calendar that we’ve experienced 2 centuries and 2 millenniums. There are some Gen X, Y, and Z peeps who have crossed through 2 centuries and 2 millenniums. Maybe not with as much panache as boomers but who’s doing the ratings.

But back to the best music and fastest cars. Boomers are forever touting how great we are, which might account for all the inter-generational badmouthing we experience. Was our music better or are we just not listening to the current product (Bieber excluded)? Were the cars faster (Tesla shatters that myth and it runs on batteries for crying out loud)? As for drive-in movies, yes, that was fun unless you forgot to detach the speaker when you tried to leave at the end of the movie. Soda fountains? Meh. Brew pub bars are more entertaining.

Lastly, the whole cool thing. Hula hoops were cool. Tie-dye was cool. The summer of love was cool. The peace movement was cool. Bellbottoms were cool (the revival not so much). Woodstock was cool. Do later generations have things and times that were just as cool? Sin duda (without a doubt).

Let’s just say we’ve lived through extraordinary times and while we used to be cool, the cool factor has chilled a bit. I can live with that.

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.

Berra of Good News

Well, it’s happened again. Yesterday I ran into someone that everyone thinks is dead. Why it always happens to me is a mystery. In any case, who should I spot leaving a yoga studio, with a catcher’s mitt no less? Why it’s Yogi Berra!

Yogi! My man! How are you? And what are you doing here at a yoga studio? And what’s with the catchers mitt?

If you ask me anything I don’t know, I’m not going to answer.

There you go. Another classic Yogi answer.

I never said most of the things I said.

Sure. I have that problem too. Where are you headed?

If you don’t know where you are going, you might wind up someplace else.

Exactly. But just like in baseball, you need to master the mental part in order to build winning teams.

Baseball is ninety percent mental. The other half is physical.

So true. Why do you think you had some of those awful losing seasons?

We made too many wrong mistakes.

Yep, I get that. Is it possible that those teams just needed to practice more?

In theory there is no difference between theory and practice. In practice there is.

I think I follow that logic. But you always swore that you could learn a lot just by closely observing the way the team played.

You can observe a lot by just watching.

So true. And nobody’s perfect.

If the world were perfect, it wouldn’t be.

I was just thinking the other day that so many of the Yankee greats like Mantle and Ford have left us for the great diamond in the sky.

You should always go to other people’s funerals; otherwise, they won’t come to yours.

That’s the truth. Speaking of the truth, over the years there have been a great many stories about you.

Half the lies they tell about me aren’t true.

So what’s ahead for you? What are your plans?

The future ain’t what it used to be.

So I’ve heard. There are a lot of baseball fans who would like to know Yogi Berra’s secret to managing a winning team. Can you sum it up for them?

In baseball, you don’t know nothing.

Well said. So long Yogi!

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.

AI Overload

Everyone is talking about Artificial Intelligence. I like to think that much of the grey matter in my brain is highly artificial, but they are talking about programs such as ChatGPT. Here you have a program that can compose music, write a play or a fairy tale, answer test questions, and even write poetry or song lyrics.

Yeah sure, but can it dance?

Seriously. Proponents of A.I. believe it will be a great asset for outsourcing the scutwork that has to be done every day. It’s already ubiquitous in such applications as Siri and Alexa, web ads, drones, facial recognition, spam filtering, translation apps, and self-driving cars. So what’s the big deal?

The dealbreaker for me is that we may end up with a lot of stuff that has no soul or sense of humor, and yet people will ooh and ah over the marvel of the technology. As a writer, my most valued commodity is my voice. When I discovered that I had a distinctive voice, it was one of the bigger aha! moments in my life. Whether it’s a good voice or bad voice may be up for debate, but I know that it’s what makes my prose unique. How can or will ChatGPT match that?

Will anyone be raving about how A.I. is so creative and imaginative? I doubt it. Humans do that. Everyday. Have been doing it for centuries. Whether it’s a painting, a play or a novel, if you remove the voice or the creative seed, what are you really left with? Answer: Something artificial. Instead of a seed you may only have the pits.

We’ve already accepted the fact that we cannot speak to a real person when we try to resolve a banking problem or book an airplane flight. We obediently toddle off to the chat feature to converse (that’s a stretch) with an A.I. bot that wants to know wants to know the nature of our problem (as if they are sentient enough to care). More and more of our daily interactions are going to be with the artificial intelligentsia.

Maybe they have the right name for A.I. after all. It is artificial. You might even say it’s synthetic. I prefer natural fibers.

Jay Harrison is a writer and creative consultant for DesignConcept. You can also visit his author page here. 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.