OK Boomer...

Business Daily

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OK Boomer...

Business Daily

Are millennials being given a financial raw deal by their parents' generation? And who do the Baby Boomers expect to pay for their retirement? Manuela Saragosa looks at the intergenerational contract - the promise that the younger generation will see an improvement in their living standards, in return for which they will care for the older generation in their old age. But is the contract broken? Many of those born in the developed world in the 1980s and 1990s face inflated housing costs and student fees, stagnant wages and insecure jobs, and little prospect of saving for their retirement. Manuela speaks to one such Millennial - BBC colleague Faarea Masud, whose own podcast series About The Money! charts the precarious financial state of her generation. Plus Laura Gardiner of think tank The Resolution Foundation explains how the different generations need to work together to manage the demographic challenge of an ageing population, rather than get mired in the "OK Boomer" culture war that has broken out on social media. Producers: Laurence Knight, Sarah Treanor (Picture: Close-up of irritated Millennial man with Boomer father looking on; Credit: SDI Productions/Getty Images)
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Are millennials being given a financial raw deal by their parents' generation? And who do the Baby Boomers expect to pay for their retirement? Manuela Saragosa looks at the intergenerational contract - the promise that the younger generation will see an improvement in their living standards, in return for which they will care for the older generation in their old age. But is the contract broken? Many of those born in the developed world in the 1980s and 1990s face inflated housing costs and student fees, stagnant wages and insecure jobs, and little prospect of saving for their retirement. Manuela speaks to one such Millennial - BBC colleague Faarea Masud, whose own podcast series About The Money! charts the precarious financial state of her generation. Plus Laura Gardiner of think tank The Resolution Foundation explains how the different generations need to work together to manage the demographic challenge of an ageing population, rather than get mired in the "OK Boomer" culture war that has broken out on social media. Producers: Laurence Knight, Sarah Treanor (Picture: Close-up of irritated Millennial man with Boomer father looking on; Credit: SDI Productions/Getty Images)
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