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Wealth | Death | Money
How My Father Summed Up the Baby Boomer Generation
And it wasn’t just his money in the bank
As I wrote in a piece last week, my father died with half a million quid in the bank, whereas his own father (my grandfather) died with virtually nothing.
Many people commented that this was a generational thing. My grandfather was born before the war, whereas my father was born during it, in 1942. While technically not a baby boomer, he certainly benefited from the post-war boom.
He went to a state grammar school, then technical college, before landing a job as a junior manager at a local textile factory. He married my mum in 1969 and bought a house for £1,900 on a salary of £1,000 a year.
Imagine that today?
He changed jobs a few times, moving around the country in the process. Each time, he bought a slightly more expensive house. By the time he died, his home was worth over a million, with another £500k in the bank or in various investments. All of which went to my stepmother, as sadly my own mother died in 1982.
In short, my father did very well for himself.
All in sharp contrast to his father, who, apart from the £1,800 in the bank (about £5,000/$6,000 in today’s money)…
