While no one could deny the unprecedented prosperity of the last 25  years, the impact on our collective long-term financial security has been more mixed. Debt-fuelled property inflation has priced our children and grandchildren out of the market – more and more people will retire without a house and one in 10 will retire with a mortgage.

Boomers may take false comfort in the value of the “family home” but know that they can’t eat their house and worry about retirement adequacy. Year on year productivity/profitability growth has delivered record returns to capital – the ASX trades at 6700 – but little growth in real wages.