I don’t know where he got the phrase ‘Boomer Brain’ from, but I do recall the hint of regret in his voice. This late Millennial-aged white guy confessed, “I sometimes think, by my age, and with my income I should have a number of properties to my name… but you know, Boomer Brain.”
I knew exactly what he meant. We went to high school together for a few years, in the late 90’s, and I’m grateful we’ve stayed in touch. Our parents, along with many bosses, teachers, sports and community leaders, were mainly of the Boomer generation born somewhere between 1946 and 1964. Now, hear me out before you decide to boil your blood or write back in defence: This topic of wealth distribution, opportunities, and timelines is very complex. And if you read my new book, Decenter Everything, which my friend and I were discussing on the call, you’ll see that I am more alarmed and concerned, than bitter and angry. Suffice to say, I do ‘state’ the following:
“Inquire of most economists and they will tell you the Boomer generation’s wealth creation and sustained lifestyles have never been seen before, and probably won’t be seen again. For example, in 2023, American Baby Boomers owned 52% of their country’s net wealth despite comprising only 20% of the population. In the US, according to Federal Reserve records, Boomer wealth grew from $4.5 trillion in 1990 to $76.2 trillion in 2023. Boomers now have nearly double the wealth of Gen-X born 1965-1980 and more than five times the wealth of the Millennials born 1981-1996. …Of course, this is a generalisation with outliers, but outliers exist across all generational means, and the data is what it is.”
Boomer Brain, was my friend’s way of saying, “I feel that I should have (been able to) build this large portfolio of property wealth like those who started living 30-years before me did. After all, the accumulating of assets seems to be a thing that good/smart/together people do.” On one level we both knew that both the economy and population was different when our parents were our age – ten minutes of research on house prices compared to household earnings, confirms we really do live on a different planet now. I’m writing from Australia, but I know that the US, UK and other Western countries are also pushing against Boomer Brain. Interestingly, all our current Prime Ministers and Presidents are Boomers who all seem to be multi-millionaires with generous property portfolios. To be honest, I can’t see any kind of housing reform on the horizon for some time. As I mentioned before, we probably won’t see this level of wealth equality across a generation again and why would a generation give up what they dreamed, built, and feel they deserve?
As a side note, I don’t want to paint a rosy picture that all Boomers live in homes which they own. I acknowledge that homelessness is on the increase, even among Boomers – particularly single women. I also acknowledge the PTSD many live with on account of defence service, addiction, and growing up in war-affected homes. There’s nothing envious about that.
So where does this leave us? If we put Boomer Brain in it’s rightful old place then I think we owe it to ourselves and the generations behind us to inhabit the age we each are, and inhabit the era we live in. I am genuinely concerned about the psycho-socio-spiritual immaturity of the Boomers (and spend ample time in my book explaining why, fairly and kindly). However, I think the current generation of X’ers, Millennials, and Alphas must forget ‘the good old days’ of independent living and wake up to the notion that multi-generational housing will be a norm… as it has been for millennia and is the norm throughout much of the Eastern world today.
Perhaps the Millennial Brain (in the West) looks very different. I think it must avoid resisting the unavoidable truth that sacrificially raising children and giving care to ageing parents is an invitation to mature into the kind of elders our planet (and it’s future inhabitants) need. Let’s be honest, many Millennials in the West didn’t grow up as post-war kids. We didn’t grow up without access to a world of information and knowledge (thank you internet). Most of us have all our basic human needs met, without question, and in abundance, thanks to the generations before us. But listen: Times Have Changed. It’s Not the Same World.
You can’t have a planet of 10 billion people by 2050 and endless good times with large homes, cars for everyone, countless overseas holidays, Grandkids waiting to hug you and affirm your status etc. when you see them occasionally. The invitation, right now, is to grow up into a brave new future where our collective success will depend on our ability to mature emotionally, relationally, ecologically, and spiritually into generous elders whose asset portfolio isn’t measured in dollars and square meterage – but by generous loving relationships and gracefully shared spaces.
Question is, is this possible? And what must I do today to foster this kind of eldering?
With love
David Tensen
Decenter Everything: The Unconventional Guide to Eldering in an Age of Immaturity is out 1st July 2025. Available worldwide through all online book retailers. Discover More