The writer is a BC mortgage broker who focuses on providing value for his clients.
The generation of the Second World War and the Depression known as the Silent Generation, missed the experience of participating in the war. They also missed the “free love” experience of the Sixties.
This group married early and as a group were risk adverse. Conformity was valued in this group of technicians and professionals.
Politically they ascended in the mid seventies…along with fragmenting families, cultural diversity, the oil shock and the growth of increasing suspicion of authority figures.
They are now redefining the experience of old age. In better health then their parents, a desire to be seen hip and with it is causing them to shed the stodgy ways of old in search of a new definition of retirement.
They have saved wisely and now are faced with the savaging of their investment portfolios. The impact of the 2008 market may be irreversible for their savings.
Some will seek the equity in their houses through a reverse mortgage…others will simply sell and downsize.