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Posted on 7/30/26 at 4:25 am to Shexter
quote:
eing a millionaire
Better than being poor.
Posted on 7/30/26 at 4:29 am to Sunnyvale
quote:
401k
This is for non retired and young people.
Posted on 7/30/26 at 5:18 am to Rex Feral
Are there many Boomers left at this point? I think Millennials & Gen Z just like to bitch and complain.
I’d also go on to say when my Boomer parents died, they left me with nothing but headaches and their financial problems to unwind. There’s not gonna be some giant windfall of cash that lands in the lap of younger generations.
They need to get off their asses and figure it out instead of blaming everyone else for their problems.
I’d also go on to say when my Boomer parents died, they left me with nothing but headaches and their financial problems to unwind. There’s not gonna be some giant windfall of cash that lands in the lap of younger generations.
They need to get off their asses and figure it out instead of blaming everyone else for their problems.
Posted on 7/30/26 at 6:35 am to deltaland
quote:
Funny thing is I’ve heard two excuses from millennials “Boomers are hoarding all the wealth” “Boomers are holding up all the good jobs by not retiring because they didn’t save for retirement” Well which is it?
Regardless of which it is…….its just a bunch of whiny MFers looking for a reason to validate their lazy arse choices.
Posted on 7/30/26 at 6:54 am to BluegrassBelle
quote:
Medicare/Medicaid cuts
Are those the non-increases that people keep calling cuts?
Posted on 7/30/26 at 7:24 am to BluegrassBelle
quote:
Considering Medicare/Medicaid cuts, most of that wealth will be transferred to assisted living facilities and in-home care.
And death taxes. Boomers are living longer, older lives because of modern medicine. You ain't getting any of that money.
Posted on 7/30/26 at 8:12 am to athenslife101
quote:
My parents are spending their money as fast as they can. They told us to not expect anything
This is and should be the way... Work your whole life to not enjoy the twilight years is stupid. If you raised your kids the best you were able and balanced a career then you go enjoy spending all that money. Its your money and you can't take it with you. Maybe leave the kids some property or condos or something that they can keep, leverage for rent, or sell for cash. But thats it
Posted on 7/30/26 at 8:17 am to BluegrassBelle
quote:
Considering Medicare/Medicaid cuts, most of that wealth will be transferred to assisted living facilities and in-home care.
So we should save and hoard so we aren't a financial burden on our kids? That can't be right
Posted on 7/30/26 at 10:20 am to Rex Feral
Boomers own ~ 1/3 of all houses and home equity makes up a massive portion of non-super-wealthy boomer assets.
The idea that most boomers are hoarding some untapped wealth in cash, equities and other assets is incorrect. 71% of the wealth is held by 10% of the generation.
A home as an investment vehicle is a huge mistake made by all generations and it has directly caused the housing shortage. People expect home values to increase so they vote to limit / restrict new construction. This puts the younger generations in a bind as housing costs continue to increase. We need to get rid of NIMBY and home equity is going to suffer.
If you don't know we are close to reaching longevity escape velocity. LSV is when medical science adds more than one year of remaining life expectancy for every calendar year that passes. Once this point is reached, a person's risk of dying from age-related causes stops growing, allowing them to potentially live an indefinitely long life.
Because of LSV, I wouldn't expect a flood of homes or equities to hit either market.
Given the expected increase in longevity, the thought experiment is how are we going to pay for their needs - healthcare and extended SS payments? Add in the large scale fraud and mass immigration of non working or low skilled workers (replaced by AI / automation) and we have a large problem.
The idea that most boomers are hoarding some untapped wealth in cash, equities and other assets is incorrect. 71% of the wealth is held by 10% of the generation.
A home as an investment vehicle is a huge mistake made by all generations and it has directly caused the housing shortage. People expect home values to increase so they vote to limit / restrict new construction. This puts the younger generations in a bind as housing costs continue to increase. We need to get rid of NIMBY and home equity is going to suffer.
If you don't know we are close to reaching longevity escape velocity. LSV is when medical science adds more than one year of remaining life expectancy for every calendar year that passes. Once this point is reached, a person's risk of dying from age-related causes stops growing, allowing them to potentially live an indefinitely long life.
Because of LSV, I wouldn't expect a flood of homes or equities to hit either market.
Given the expected increase in longevity, the thought experiment is how are we going to pay for their needs - healthcare and extended SS payments? Add in the large scale fraud and mass immigration of non working or low skilled workers (replaced by AI / automation) and we have a large problem.
Posted on 7/30/26 at 10:52 am to theCrusher
Boomers currently have $84T in assets right now. Most of those assets will go to someone. Some of those assets will be spent on living expenses. Some of those assets will just disappear.
A boomer would ask himself how he could profit from the transition. What do boomers need during their final phase? Answer that question and work to provide a service for a profit.
Boomers own 3.5M small businesses right now. 2.1M of those businesses will just close. Those boomers will just decide they have done enough, and they will phase out the business. 100,000 profitable businesses will close by the end of this year with no thought of being sold. Some people are acquiring several related businesses and combining them to make a business they can run that will generate large sums of profit after bringing them up to date.
I have never been a real estate guy, but my friend is buying boomer houses close to court houses and is converting them to office space for lawyers and other professionals. He thinks it is way easier than flipping these houses to sell or rent.
A boomer would ask himself how he could profit from the transition. What do boomers need during their final phase? Answer that question and work to provide a service for a profit.
Boomers own 3.5M small businesses right now. 2.1M of those businesses will just close. Those boomers will just decide they have done enough, and they will phase out the business. 100,000 profitable businesses will close by the end of this year with no thought of being sold. Some people are acquiring several related businesses and combining them to make a business they can run that will generate large sums of profit after bringing them up to date.
I have never been a real estate guy, but my friend is buying boomer houses close to court houses and is converting them to office space for lawyers and other professionals. He thinks it is way easier than flipping these houses to sell or rent.
Posted on 7/30/26 at 11:13 am to Allyn McKeen
I think you're low on the $84T, but depending on your timeline, it could be accurate. The total, in a 20yr period, is more like $125T-$150T. In May, WSJ had the transfer at $110T, and it will still grow.
While about 50%-75% will go to the upper 2%, that still leaves many trillions transferring to the "commoners ".
Since most here have no conception of the actual magnitude of one trillion dollars, they dont believe the greatest wealth transfer is a real thing.
It has obviously already started and will accelerate in the next 10 years.
While about 50%-75% will go to the upper 2%, that still leaves many trillions transferring to the "commoners ".
Since most here have no conception of the actual magnitude of one trillion dollars, they dont believe the greatest wealth transfer is a real thing.
It has obviously already started and will accelerate in the next 10 years.
Posted on 7/30/26 at 11:25 am to Powerman
quote:
That being said there are a lot of families that own their homes outright so at minimum a lot of people will inherit a paid off home and that's not just the wealthy.
I think most adults with even modest pay can cover the property taxes, insurance, and utilities with an inherited home. That's certainly worth something even if it doesn't come with a huge cash windfall to go with it.
Which is fine if you're an only child. Gets quite watered down in multi-sibling families.
Posted on 7/30/26 at 11:45 am to Rex Feral
So once again Gen X just gets skipped over?
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