The One Thing Us Boomers Did Right

Steve McDonald By Steve McDonald, Bond Strategist, The Oxford Club

Slap In The Face Award

Transcript:

Here’s a slap for anyone who grew up in the ‘50s, ‘60s and ‘70s listening to rock and roll.

I’m sure you already know that a lot of our icons, rock icons, have died recently…

David Bowie, Glenn Frey, Prince (he was kind of a ‘70s/’80s star), Leonard Cohen, George Michael and Chuck Berry – real giants in the music business.

And most of the rockers of our youth are in their 70s, so get ready, this parade to the rockers’ last stand is just beginning. The Rolling Stones can’t keep it up forever.

Which brings up the real point of this slap…

Of the current 25 highest-grossing rock artists, just one, Britney Spears, is under the age of 40! Nineteen of the 25 are over the age of 50!

Bruce Springsteen, who is 67, had the highest-grossing tour last year at $268 million.

Half of the $4.5 billion generated by the top-grossing groups was made by people over 50 years of age.


In just 14 shows last year, the Stones made $91 million, and they average 73 years old. 73!

The older rockers are smoking the younger generation by a big margin. And there is no evidence that the younger groups are generating the staying power of the boomer bands.

Does this mean that we are witnessing the last stand of the supergroups, like the Stones, Springsteen and the Beatles, who earn more now than they did when they were in their 20s and 30s? Could be!

What started in November of 1963 with the Beatles (at least for people my age… I know there were rockers long before ‘63) and exploded in the summer of 1969 at Woodstock is slowly winding down with each passing day. And I don’t know about you, but I feel every one we lose.

The boomers have made some big mistakes along the way, and as I’m sure you already know, have done a horrible job getting ready for retirement.

But we made some great music. And the numbers indicate that the music world is having a tough time replacing us.

So don’t be stingy! Crank up your stereo and give the younger folks a chance to hear what made the Beatles, Crosby, Stills & Nash, the Eagles, Woodstock and our generation great.

We did at least one thing right!

Good investing,

Steve