12 Boomer Financial Tips You Should Ignore

“Okay, Boomer,” scoff millennials as they hear yet another outdated piece of advice from their boomer parents. Here are the worst pieces of advice about money and work that Boomers can’t let go. 

Put All Your Money In Savings

Happy woman holding a small piggy bank with bills coming out of the top.
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Boomers made a ton of money in the 1980s and 90s when interest rates on savings accounts surpassed yields on investments. Though interest rates are rising, you’ll still get better returns with stocks. 

Go To The Company

Giant boss sitting in a chair towering over a tiny employee who stands defeated below him.
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Boomers got tons of work by marching right up to the boss and demanding a job. It doesn’t work that way anymore. 

Get a Loan to Pay Your Loan

A woman thinking while holding a stack of money in her hand to represent how much is six figures and a six figure salary.
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When interest rates are lower than your current rate, it can make sense to consolidate your loans. Boomers continue to give this advice despite the rapid increase in interest rates over the past few years. 

You Have to Justify Your Raise

An unsure man with his hands out as if he's questioning what he's been told.
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It’s Boomer’s fault wage compression exists. They think they have to justify a raise when the rising cost of living and changes in fair market value for a specific job are justification enough. 

Give Your All To the Company

Business man sitting in the air crosslegged with multiple arms coming out doing many different things.
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When Boomers were young, hard work paid off. Nowadays, hard work only gets you more work. Your boss won’t promote you for going above and beyond; they’ll hinder your opportunities, so you can’t leave. 

You Must Go To College

The administrative building at Southern Mississippi University at dawn.
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Millions of Millennials listened to their parents, who said college was the only option. They’re now saddled with outrageous debt they can’t escape and still can’t find a good job. 

Anything with a Degree

smiling man wearing college graduation robes and holding a diploma
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Boomers also think degrees are as rare as they once were. They can’t believe their kids can’t find good jobs when they have a degree!

Get Rich Quick

A man making it rain with a pile of money in his hand.
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Why do Boomers always have a hot new business venture? They’re all about making a quick buck without any work. No wonder scammers constantly target them. 

Women Shouldn’t Work

stressed mom with two young kids
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Misogynistic Boomers still think women belong at home. They’ll deride women who choose to work but also think any young couple can afford to have one partner stay home. 

Move Someplace Cheaper

The open back of a full moving truck parked in a residential area.
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Do Boomers not realize that housing costs are rising exponentially across the United States or that the most expensive cities also have the jobs?

You Could Afford a House if You Stopped X

A smiling woman holding her morning cup of coffee.
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When “X” is any five-dollar luxury that makes life just a tiny bit better. Saving five bucks a week should give us enough for a 10% down payment on a house in about 160 years.

Stay at that Job

man at work looks really bored and unhappy
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Boomers with pensions can’t imagine why younger folks would want to job-hop. They didn’t get the memo that most companies no longer have pensions, and most people make more money when they switch companies. 

Saying No One Wants To Work

woman throwing papers behind her as she quits her job.
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The common boomer refrain derides younger generations for refusing awful working conditions. Are they right?

Find out why no one wants to work anymore

Save Money on Basic Living Expenses

An anxious looking woman turns the pockets of her jeans inside out to show she's penniless.
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You have to live, but it doesn’t have to cost a fortune. Here’s how to save money on living expenses