I love learning about the past and what I always found wildly interesting (and super-duper predictable) is how younger generations saw the previous generations as living in a way better time than they were living. Take Gen Z vs Boomers (whose era we’ll get onto in a sec) and you can see just how intense this topic has become!

Now house prices are – according to my old wise friend in finance – more a trophy than a roof over your head. We’re all having to work our butts off just to live in London (or whatever other cool metropolis you happen to call home) which means paying through our nose to rent a 1-bed if we’re lucky or share a pad with some mates. Though actually, renting forever might make most financial sense for you (esp if you’re an asset-light Gen Zer).

Or, if you’re lucky enough you’re still staying at home – rent-free. Trust me though, even with no rent to pay, finding the £££ for a deposit is nuts. 

So we know that house prices have way outpaced what we can realistically afford and it feels a bit rubbish to be honest but here’s how to get on the housing ladder quicker than you think and avoid 99% of people telling you it’s impossible!

I wanna get to a place where I own my own one! I wanna know I’ve got something to call my very own. And not to fill some landlord’s coffers. Mind you, their profits have all been wiped out thanks to interest rate hopping up to 5.25% so maybe I shouldn’t feel quite so bad.

The simple solution to our misery?

Complain that the previous gens had it way better than us and in general grow up with a sense of feeling that the past was way better than it actually was. 

It’s not just about the houses though! OK, that’s a big part but it’s really not all of it. And there’s one era that we all turn to no matter what as the ‘golden age’ of living.

And that was the 1950s. It was where the Boomers were being born and making their mark in the world (buying cheap property and holding onto it for dear life).

It was post-WWII where the world – and America – was slowly getting back on their feet and consumers were enjoying all sorts of “luxuries” they couldn’t get their hands on during the war.

Let’s look at the sort of stuff people bought in the 50s and what kinds of biz were being built!

The 50s-style consumer: 

-portable TV
-pocket-sized ratios
-space-age toys
-plastic dinner sets
-automatic appliances
-drive-in movie theatres
-carhop restaurants
-2-toned cars

A few businesses that started in the 50s: 

-Dunkin’ Donuts (1950)
-Holiday Inn (1952)
-Trader Joe’s (1958)
-Pizza Hut (1958)

In the 50s, going out for a bite of pizza with a friend then heading to a drive-through cinema was about all you could do. Now, forget pizza. And cinemas. Let alone drive-throughs. You can get all sorts of exotic foods (at even more exotic prices) and you can do just about anything.

Even fly to a different country for the day. But yes, I wish our activities today would involve drive-through cinemas (my nostalgia has already kicked in). Maybe that’s something I need to get outa my system.

I think movies in general are also great at pinpointing this era as the best one ever. So it’s hard to feel like we’re properly competing or making any sort of progress.

But look how cheap flights have become? A family can travel abroad and not worry about what the weather in their rainy-seaside is gonna be in the summer months (before global warming smacked us in the face).

Now we can live in bigger places (even though I promise you, it feels like our places are tiny) and get to enjoy decent healthcare.

You might look at that list and think, um, is that it? Or you might feel warm ‘n fuzzy. With a belly full of nostalgia. Life was simple you might say. Better, even. Less “stuff”; more substance.

Less = more

And a lot of this feeling of nostalgia comes from the fact that in the 50s there was hardly the same divide between the top 1% and the bottom 99% like there is today.

In the 50s, everyone was spending (and doing) the same sort of things. You were all buying the same food, driving the same cars, buying the same gadgets. There just wasn’t the same level of “more”.

Your neighbours spent like you and they didn’t look much different from you. You were all living in smaller houses and taking modest vacations (like camping / a trip to the countryside). 

We also look to the fact that only one partner (the husband) needed to work and that would provide for the entire family. Yup, that’s inflation for you and ironically it’s why we’re not much better off despite being richer than ever before.

But you also gotta remember that more people were working in more physically-demanding jobs and women weren’t working in fields like finance and law till a lot later.

They fulfilled the traditional role of mum / housewife. And that’s amazing that they didn’t need to worry about childcare (which costs as much as a kid nowadays) and were able to live on 1 income alone but that income was limited in what it could do. 

The different ways of spending money 

Your happiness should not depend on those around you. But we’re social creatures and so it’s totally normal to compare. But now, the comparison isn’t limited to what’s near you.

You’re now able to see some successful person thousands of miles away. At your fingertips. Comparison is endless. And infinite. That’s why you gotta have the courage to make financial choices that are best for you. And you only.

And that is scary. It means you’re always going to see someone who’s better off than you, in a better career than you and in fancier clothes than you. Social media expanded that. It brought greed + envy to your every day (I haven’t used social media since my HS days and boy am I grateful). What you don’t see can’t hurt you, right?

In the 1950s, sure there’d be that one rich guy everyone knows but the other folk were all the same. So you felt good about your situation. Even though (in hindsight) it only got better as the years went on. Psst: here’s the new super-wealth you should be focusing on for infinite happiness & peace of mind.

My dad remembers going to college in NYC and a foreign student would be dropped off by  their chauffeur. Day in, day out. The kids would ogle at him and think he must be some sort of prince or whatnot. His dad was a business owner and made millions in real estate. But he was the only ‘rich kid’.

Everyone else was pretty much the same. More or less. Now, the divide between the richest person you know versus the poorest person you know is big. That’s without looking at a slightly more representative sample size!

Life is getting better – you’re just seeing the bad with the good  

Humanity is making progress. I know, it hardly feels like it. Pretty soon we’ll be on Mars eating chocolate bars. Literally. Enjoying life up there thanks to Mr Musk and his mind-boggling determination to make things better for humanity.

Then look at the medical advancements over the past year alone! The weight-loss drug and other such breakthroughs will have gigantic positive benefits for society as a whole. I read a fascinating study around mRNA tech and how it can (hopefully someday soon) cure cancer. By giving patients individualised, targeted jabs.

Don’t lose hope just because the media is making you miserable. Technology is making our lives better. And will continue to do so. We have access to healthcare (yeah, here in the UK you might have to wait a wee while to see a doc but who’s paying attention) and bigger, warmer homes along with better lifestyles.

So don’t go wishing for something you had / didn’t have. Lap up the present. It really is the biggest gift. Grab it with both hands. Life is what you make of it.

Disclaimer: This blog is not investment or financial advice. It is my opinion only. This blog is not a personal recommendation to buy/sell any security, or to adopt any such investment strategy. Always do your own research before you commit to any investment.