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re: Share of National wealth owned by each generation
Posted on 3/22/25 at 5:53 pm to DavidTheGnome
Posted on 3/22/25 at 5:53 pm to DavidTheGnome
quote:Perhaps so.
while the younger generations are lazy and want handouts.
-----
Pretty sure there’s more to the story than this
But either way it's going to work out for "the younger generations" who inherit all those boomer bucks.
That is, unless the government gets Gen Y to screw its fellow Gen Y's over, and cede all its inheritance to Uncle Sam.
0
Posted on 3/22/25 at 5:56 pm to RaoulDuke504
What we need is a spreadsheet showing the deficit for the duration a congressman or senator held office. Inflation adjusted.
Now that would be useful! Could use to send to our Reps and show how piss poor they are managing our money they took from us.
Now that would be useful! Could use to send to our Reps and show how piss poor they are managing our money they took from us.
Posted on 3/22/25 at 5:56 pm to fallguy_1978
Yeah completely fair and realistic. I’m just saying that It’s incumbent upon people to think critically and to speak their mind. A lot of baby boomers were more about defending the status quo and the party line.
I go on the money board every day and advocate for owning hard assets and reducing as much of your exposure to government paper as possible. I get downvoted into oblivion but I hope someone sees it and considers it.
I go on the money board every day and advocate for owning hard assets and reducing as much of your exposure to government paper as possible. I get downvoted into oblivion but I hope someone sees it and considers it.
Posted on 3/22/25 at 6:12 pm to beaverfever
quote:Wait!
A lot of baby boomers were more about defending the status quo and the party line.
What?
Hippies?
Hippies were more about defending the status quo and the party line????
Posted on 3/22/25 at 6:13 pm to NC_Tigah
I haven’t met a boomer hippy in a LONG time.
Posted on 3/22/25 at 6:13 pm to beaverfever
quote:
I go on the money board every day and advocate for owning hard assets and reducing as much of your exposure to government paper as possible. I get downvoted into oblivion but I hope someone sees it and considers it.
You sound exactly like my dad and I don't necessarily disagree
Posted on 3/22/25 at 6:15 pm to RaoulDuke504
Why does the chart start for Boomers when the oldest Boomers were 44 but for Gen X when the oldest Gen Xers were 27? Of course Boomers were going to have more wealth by that age.
Posted on 3/22/25 at 6:15 pm to Auburn80
quote:
Stock Market has been very good to Boomers. Millennials will benefit greatly with the coming wealth transfer.
That’s what I’m not getting. Are people afraid they are going to take it with them or light giant bonfires of cash on their way out the door?
Posted on 3/22/25 at 6:17 pm to Flightnclouds
quote:
mean a generation that has worked longer Has more wealth? Who would have guessed?
Consider this, the ease at which you can spend money is at an all time high.
Before 2000 you weren’t spending cash nearly as quickly as it took work to spend.
Posted on 3/22/25 at 6:19 pm to beaverfever
quote:Yet that's exactly what the first half of boomers were. The second half were their diametric opposite ... yuppies. It's why pigeonholing that supposed monolithic generation is virtually impossible.
I haven’t met a boomer hippy in a LONG time.
Posted on 3/22/25 at 6:20 pm to Y.A. Tittle
quote:
That’s what I’m not getting. Are people afraid they are going to take it with them or light giant bonfires of cash on their way out the door?
Different reasons but some have more than they could possibly spend. Unless you do a massive amount of travel your expenses go down as you age. Mortgage paid off etc. If the market keeps growing in the 10% range they are not spending down their balance.
Posted on 3/22/25 at 6:38 pm to RaoulDuke504
Remember... that Boomer money has got to go somewhere
Posted on 3/22/25 at 6:45 pm to RaoulDuke504
Millineals then Gen Z have it hardest. In 1990, average house was 3x what average income is. Today, it is 7x. Meaning average Millineal and Gen Z will have to work 4x harder to buy a house.
This is why I support a law stating no corporation or private equity can buy a house, and extend that to no human can own more than 1 house. It has gotten outrageous and is immoral for the richer to drive up prices to keep the less wealthy renters for life. No PE or corp ownership of house, no human can own more than 1. This is what is best for this country.
This is why I support a law stating no corporation or private equity can buy a house, and extend that to no human can own more than 1 house. It has gotten outrageous and is immoral for the richer to drive up prices to keep the less wealthy renters for life. No PE or corp ownership of house, no human can own more than 1. This is what is best for this country.
Posted on 3/22/25 at 7:29 pm to oldtrucker
quote:
You Gen X/ Millennial better start being nice to this old boomer or you ain't getting jack
Well i'm shite out of luck my boomer parents are broke.No need to worry about that transfer of wealth.
Posted on 3/22/25 at 7:36 pm to JetsetNuggs
he's mad at his parents...
This post was edited on 3/22/25 at 8:39 pm
Posted on 3/22/25 at 7:40 pm to FLObserver
“The median retirement savings for Baby Boomers is estimated at around $202,000. Savings”
Mr Google says a few rich ones and a Lot of not so rich ones..
Mr Google says a few rich ones and a Lot of not so rich ones..
Posted on 3/22/25 at 8:31 pm to armytiger96
quote:
Yes it's called Time Value of Money. The Dow closed at 2679 on Jan 1,1990 and closed at 42392 Jan 2, 2025. For every $10,000 that a boomer had in savings in 1990 is worth over $200,000 today. This is assuming they didn't put another penny in the market. If a Boomer at age 35 had $0 in savings and saved $500 a month for the past 35 years they would have over a $1MM today.
That doesn’t account for the discrepancy in wealth between the generations at the same age which is what the chart shows
Posted on 3/22/25 at 8:36 pm to RaoulDuke504
Over the next 20 years we will see the greatest transfer of wealth in history.
Posted on 3/22/25 at 8:37 pm to RaoulDuke504
Boomers aren't addicted to their phones and don't spend their time trying to be influencers.
Posted on 3/22/25 at 8:46 pm to DavidTheGnome
quote:
That doesn’t account for the discrepancy in wealth between the generations at the same age which is what the chart shows
Ummm I think this part does:
quote:
For the most part GenX and below spends way more than they save so obviously they have accumulated less wealth.
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