Kevin's Corner

The Silent Generation

Welcome back to Kevin Korner’s. This week I want to pay tribute to one of the forgotten groups grouped by age …… The Silent Generation. Squeezed in between the Baby Boomers and the GI Generation, this group includes those born between the years 1925 and 1945. The Silents, as they are known, are oft ignored, industrious and low risk takers that do not get all the publicity of the Boomers. This group are the doers that got things done but…done carefully. The effects of growing up with the Great Depression and its aftermath dramatically influence this group to be safe and conservative. 

Tom Watson, Jr., then president of IBM, first mentioned the Silent Generation in 1951 to encourage college graduates to “speak out, take chances, be daring.” William Manchester, author and chronicler of the Kennedy years, wrote it in stone. He described this particular generation as “withdrawn, cautious, unimaginative, indifferent, unadventurous and silent.” 

The influence of the global events such as the Great Depression, World War II, the McCarthy investigations, Cold War, Korean War. Not to mentioned the beginning of the civil rights movement, race riots and political assassinations helped shape the attitudes of the Silents. These were times of caution and uncertainty when the World order was being reinvented. The economy of the United States, which today dominates the globe, was just beginning to show the brilliance it had lost since 1929. No one could be sure whether the times were getting better or not. 

Some became rebels without a cause. Others took refuge in the iconic life of The Man in the Gray Flannel Suit, living in cookie-cutter houses and running the corporate rat race. They embraced Rogers and Hammerstein, 1953  Chevy Corvettes, rock’n’roll (the original version) and the Peace Corps. Some of notables born in this generation include: Hank Aaron, Clint Eastwood, Paul Newman, Paul McCartney, Elvis Presley, Martha Stewart, Peter Jennings, Martin Luther King, Jr., and Sandra Day O’Connor. No U.S. Presidents but plenty of leaders. 

They believe in government, patriotic duty, making things work, dreaming big. All with pragmatic thinking and noticeable self-effacing. The desire to make their community a reflection of their core values of doing the right thing, courteousness and safety. 

The Silents now between the ages of 61 and 81 are better educated, healthier and wealthier than their parents. Most have approached retirement with adequate assets to finance early retirement but have relied too much on the income provided through social security. Many have avoided debt of any type unless absolutely necessary, including mortgage debt. Balancing income and expenses and not purchasing extras until the money was completely saved up was the hallmark of the working years for the Silents. 

I am sure this is why the concept of a reverse mortgage is very bothersome to Silents. It runs counter to their sense of independence. But, upon further investigation, a reverse mortgage actually guarantees this state of independence. By allowing a Silent to stay in their home for as long as they want without making any monthly debt payments, a reverse mortgage gives the kind of safety and security this group has always been looking for. Add in the US Government guarantee from FHA, this retirement vehicle protects the homeowner from “corporate games” and puts the trust of execution back into the hands of the US Government which has always been there, good times and bad. 

The Silents have seen a lot and experienced a lot, much more than a young Baby Boomer like myself can ever appreciate. They paved the way for the Baby Boomers to be able to take advantage of the best standard of living, the best country and the best freedoms in the World. On behalf of the Boomers: Thank You. 

In a small tribute to the Silents, I am offering a $300 credit toward closing costs to every Silent applicant that applies for a reverse mortgage with us until October 31, 2006. Just mention you’re a Silent that wants to be heard!!!