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Posted on 8/1/26 at 10:26 pm to CPA Yung Boi
Good point. We were poor financially, but not in spirit. Thanks for reminding me. The Lord has blessed me abundantly.
Posted on 8/1/26 at 10:29 pm to Rex Feral
I don't need my parent's money 
Posted on 8/1/26 at 10:53 pm to zuluboudreaux
quote:
And how has the individual boomer done this? Explain.
Every president elected by boomers (Clinton to Trump) has supported things like modern monetary policy, outsourcing, housing regulations, and foreign interventionism. That's Democrats and Republicans.
Posted on 8/2/26 at 6:17 am to GreatLakesTiger24
quote:
we blame them for selling out the country to hispanics, middle easterners, East Asians, and the Levantine
Wut!
The greatest transfer of American industrial wealth was the 1970's and the Oil Shocks under Nixon, Ford, and Carter. The 1980 election was the start of spending / debt that has spiraled since. The control of wealth in the US from local / regional to national / international via Wall Street since transferred the 1% wealth in say a city or state to consolidation of wealth to the 1% of the US / Earth.
As for whatever wealth the average Boomer retained, expect it to be consumed by health care, medicine, assisted living, and end of life care before they die. I watched this as the family caregiver since the 1960's and it is a consistent cycle, just now the costs are significantly higher with no end in sight.
Both political parties are responsible for working for lobbyist over citizens while blaming the other party instead of solving long term issues themselves. We are Rome before the fall at this current trajectory.
Posted on 8/2/26 at 6:25 am to mthorn2
quote:
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. It’s 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
I have a very different outlook on this. I’d like to do my part to continue to improve my family’s situation, and that does not include frivolous cash burn at the end. For example, the idea of spending millions of dollars uselessly in a care facility over any sort of long duration makes me sick to my stomach.
Most big “old money” family fortunes were not created in a single generation.
Posted on 8/2/26 at 6:32 am to AtlantaLSUfan
quote:
Boomers are blowing thru their retirement income more than any generation ever. There won’t be much wealth left to transfer.
Except that spending = wealth transfer.
Posted on 8/2/26 at 7:09 am to BluegrassBelle
quote:
Considering Medicare/Medicaid cuts, most of that wealth will be transferred to assisted living facilities and in-home care.
There is no way most of $89 trillion will go the assisted living in the next 10-15 years.
Posted on 8/2/26 at 7:13 am to Powerman
quote:
at minimum a lot of people will inherit a paid off home and that's not just the wealthy.
Most of those will not be single child families, so you will have multiple children inheriting a single home. Which means one child will have to buy the others out or they sell and split two or three ways. The wealth transfer will not benefit single families the same way it currently benefits the current single family owning it. The pot will be divided multiple ways. The rich will stay rich but the middle class will not get rich off deaths of parents.
Posted on 8/2/26 at 9:17 am to Crowknowsbest
This is exactly what the overwhelmingly majority are doing.
A simple, brief read in any accredited news source would reveal that.
But its more fun to make up your own "facts", I guess.
A simple, brief read in any accredited news source would reveal that.
But its more fun to make up your own "facts", I guess.
Posted on 8/2/26 at 9:56 am to Rex Feral
quote:
Millennials and Gen Z like to bitch that everything is too expensive and they can’t find decent paying jobs. Those boomers will be dead in 20 years. That will be a huge wealth transfer to financially immature people
I don’t think many Boomers have Millennial and Gen Z kids. It does seem to me that a lot of Gen X kids are inheriting significant assets.
What I’ve seen the last 10 years is these people holding on to the real estate they inherited for investment properties and second homes.
Second and third homes seem to be way more common now than in past decades.
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