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re: Great Wealth Transfer is going in the wrong direction
Posted on 7/19/26 at 12:14 pm to TigerintheNO
Posted on 7/19/26 at 12:14 pm to TigerintheNO
Actually it seems about right.
More than half did.
More than half did.
0
Posted on 7/19/26 at 12:22 pm to Shexter
quote:
41% of boomers aged 65 to 79 still have mortgages,
This isn’t a problem if they can afford to pay it. I am more curious about the 41% that can't afford their mortgage. What's that number?
Posted on 7/19/26 at 12:27 pm to TigerintheNO
49% of young adults live at home, up 12 points since 2019. An economist says the fallout will reshape marriage, kids, and home-buying!
The Pew Research Center released an analysis highlighting that 52% of Americans aged 18-29 live with their parents-the highest percentage since the Great Depression.
In a recent Quora thread, user and fellow parent wrote,
"I mean, I'll be 37 this year, and my mom and I are roommates. We like living together. She's my best friend, and as long as nobody takes advantage of each other, I don't see the problem. My kids love having Granny in the house, and it's easier on both of us financially.
There's nothing wrong with a family home as long as you're taking care of yourself."
Another (rather rude) user opined this about people in their 40s living with their parents.
The Pew Research Center released an analysis highlighting that 52% of Americans aged 18-29 live with their parents-the highest percentage since the Great Depression.
In a recent Quora thread, user and fellow parent wrote,
"I mean, I'll be 37 this year, and my mom and I are roommates. We like living together. She's my best friend, and as long as nobody takes advantage of each other, I don't see the problem. My kids love having Granny in the house, and it's easier on both of us financially.
There's nothing wrong with a family home as long as you're taking care of yourself."
Another (rather rude) user opined this about people in their 40s living with their parents.
Posted on 7/19/26 at 12:32 pm to LSUDad
TigahRag was in his 50s and living with his parents RIP
Posted on 7/19/26 at 12:39 pm to mattz1122
quote:
TigahRag was in his 50s and living with his parents RIP
Just running the family business. RIP.
Posted on 7/19/26 at 12:42 pm to TigerintheNO
I like eating potatoes
Posted on 7/19/26 at 12:44 pm to PerplenGold
quote:This is correct.quote:Meaningless as a stand-alone stat. Mortgages could be in the 2% range with retirement accounts earning more even in CDs or other equivalents.
The report found that 41% of boomers aged 65 to 79 still have mortgages, as do 31% of Americans 80 and older.
I’m 64 and have a 2.5% rate mortgage on a vacation property that is my only debt. The balance remaining on the mortgage is around 5% of my net worth. I have more than enough to never have to ask my kids for money in retirement.
I’d be a fiscal idiot to pay it off ahead of time. The outstanding amount is about 20% of the property’s value. The property appreciates every year. So I’ll be a 65 year-old with a mortgage.
This post was edited on 7/19/26 at 12:45 pm
Posted on 7/19/26 at 1:33 pm to CPA Yung Boi
quote:
The rest will be lucky to die without leaving their kids a bunch of debt
You don’t inherit debt. It can eat up what you thought you’d inherit
Posted on 7/19/26 at 1:33 pm to Rabby
quote:
He is redirecting it to
To his family and cronies. Us Americans are getting shafted, even more than usual.
Posted on 7/19/26 at 1:54 pm to The Torch
quote:
More like Boomers and Gen X are being taxed to death to support Biden’s invasion and the Medicaid crowd.
Home prices and rent went up ~25% thanks to Biden letting in >14,000,000 unchecked 3rd worlders.
Posted on 7/19/26 at 1:58 pm to TigerintheNO
quote:that’s wild
The report found that 41% of boomers aged 65 to 79 still have mortgages, as do 31% of Americans 80 and older.
Posted on 7/19/26 at 1:59 pm to TigerintheNO
Imagine being one of the frick ups in the easiest generation to succeed in ever
All but the shittiest boomers were basically handed a high paying job out of high school and were immediately able to afford a quality house, car, and multiple kids
On second thought, it makes perfect sense that many of them also didn’t save their money - they never had to work hard to earn it
All but the shittiest boomers were basically handed a high paying job out of high school and were immediately able to afford a quality house, car, and multiple kids
On second thought, it makes perfect sense that many of them also didn’t save their money - they never had to work hard to earn it
Posted on 7/19/26 at 1:59 pm to evil cockroach
quote:
i’ll go be a Christian missionary in Northern northern Nigeria
That's so far north. If you're worried about saying Niger, it's not a slur.
Posted on 7/19/26 at 2:27 pm to TigerintheNO
Everyone says Boomers are stealing from the young
But reality is some boomers are stealing from everyone else, including other boomers
The concentration of wealth in this country has reached levels that start revolutions. The only thing stopping revolution is the welfare state.
But reality is some boomers are stealing from everyone else, including other boomers
The concentration of wealth in this country has reached levels that start revolutions. The only thing stopping revolution is the welfare state.
Posted on 7/19/26 at 2:29 pm to SloaneRanger
quote:
Maybe if jobs, money and housing weren’t being funnelled to tens of millions of foreigners imported by the Dems things would be better.
Close to the amount of jobs and money being offshored by the republicans
Posted on 7/19/26 at 2:44 pm to TigerintheNO
Sounds like boomers planned poorly financially
Posted on 7/19/26 at 2:47 pm to Scruffy
Yes....the great wealth transfer is from the top wealthy boomers to their children and grandchildren.
Joe who worked at the plants or factory for 50 years with a pension ain't passing down shite to his kids / grandkids....maybe a nice windfall on sale of his paid off house.
Joe who worked at the plants or factory for 50 years with a pension ain't passing down shite to his kids / grandkids....maybe a nice windfall on sale of his paid off house.
Posted on 7/19/26 at 2:49 pm to jclem11
quote:hopefully there's no reverse mortgage!
maybe a nice windfall on sale of his paid off house.
Posted on 7/19/26 at 2:52 pm to GreatLakesTiger24
quote:
opefully there's no reverse mortgage!
Maybe is doing all the heavy lifting in that statement.
The rich will stay rich and the poor will stay poor once the Boomers pass.
Posted on 7/19/26 at 2:57 pm to TigerintheNO
My mom developed Alzheimer's at a very early age (65) and never really saved anything over the course of her fairly good earning career. Currently, she is in memory care in a private facility, and my brothers and I split the cost sans her SS check. We have each spent close to 65k in the last three years.
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