The problems and advantages of being a middle-aged man

My wife pointed out this article entitled "How to be a middle-aged man" in the FT on Saturday. To read Click here.

You see, my wife disapproves of me having a Facebook profile despite my protestations that it is 'for research purposes". Interestingly, the FT article supports the view that Facebook is for the 'younger generation' and - like 'dancing at parties' , 'wearing slippers' and 'having affairs with women young enough to be your daughter'- should be avoided by middle aged men.

Despite that, it's a fun read. It says that middle aged men can wear jeans 'because we invented them', can drive fast cars and can 'keep up with the latest sounds' purely because the young - unlike the middle aged - have 'musically truly missed the party' anyway.

Style-wise, being a middle aged man might seem difficult nowadays. But, in other respects, it seems we 'have never had it so good'. David Smith, writing in the Sunday Times today, makes the point that rises in interest rates transfers cash from those in debt (largely the young) to those with savings (largely the middle-aged and older). Indeed, us "Baby boomers" or "Golden Generation" have three quarters of the UK's £5000b of wealth. We tend to have paid off our mortgages on houses that will never ever be capable of being bought by any average younger person. We not only have savings earning ever higher interest but are the last generation to have decent pensions. On top of that we are in demand in the labour market like never before - should we wish to spend our time working.

So "rising interest rates, like rising house prices, are an inter-generational transfer from young to old".

Unfortunately, I think that is true. Unfortunately, because one cannot but feel very sorry for any young person with a family struggling with an ever increasing mortage today.