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Posted on 8/23/25 at 2:30 pm to Mingo Was His NameO
Oh look it's Mingo 
Posted on 8/23/25 at 2:35 pm to Scruffy
Well 401k's didn't exist until '78 and salary deduction started in '81. I'd bet most boomers at that time thought SS and their pensions would be sufficient. Blame our own government for stealing the SS money and using it elsewhere. They created this mess by robbing Peter to pay Paul and they will continue to do it because we can't do shite about it.
This post was edited on 8/23/25 at 5:16 pm
Posted on 8/23/25 at 2:36 pm to N2cars
quote:It may be $84T, but this idea of wealth transfer is not the way you and others are projecting it to be.
So that $84T is a bs #?
quote:Honestly, somewhere around 20% of that generation has 80% of that wealth with 1% having ~20% total.
And only 10% of Boomers have all the money?
As you can see by looking at previous posts, the VAST majority of boomers are broke and buried in debt.
Posted on 8/23/25 at 2:53 pm to Scruffy
Well, tell us how you think it's going to be done.
Posted on 8/23/25 at 2:57 pm to Scruffy
quote:
Honestly, somewhere around 20% of that generation has 80% of that wealth with 1% having ~20% total.
Curious how you arrive at that...
It is an extremely hard # to pinpoint based on the research I've seen.
My guess is around 30% have about 70%, 1% mave about 3-4%
Trillion is a big #.
Posted on 8/23/25 at 3:02 pm to N2cars
quote:The same way it has always been done.
Well, tell us how you think it's going to be done.
The vast majority will be transferred within a small number of exceptionally wealthy families in the form of real estate, business ownership, stocks, etc.
A slightly larger number of boomers will leave some to their offspring, most boomers will leave very little, none, or excessive debt.
That is how it has always been and will always be.
I mean, how do you think that $84 trillion in wealth is spread out?
Posted on 8/23/25 at 3:09 pm to N2cars
quote:Guess it depends on what source you look at.
Curious how you arrive at that...
There was a Michigan study:
quote:
Moreover, based on her calculations using data from the University of Michigan Health and Retirement Study survey, median wealth among those aged 51 to 56 — a group she describes as “liminals” on the verge of retirement — only increased among the top 10% between 1992 and 2016, while decreasing among the rest.
quote:
The calculations, published in the article “No Rest for the Weary: Measuring the Changing Distribution of Retirement Wealth in the United States,” show that the bottom 90% of this group had less wealth in 2016 than in 1992. In other words, for the vast majority, the Silent Generation were better off approaching retirement than are Baby Boomers, because the latter “took on so much mortgage debt and home equity loans,” said Ghilarducci. “So, even though Boomers were working and saving and buying assets in the biggest period of asset growth in our nation’s history, the debt outran that asset growth.”
quote:
Ghilarducci said that because of this, “the majority of people get nothing from their parents, and a significant minority of adult children are giving money to their parents.”
quote:
According to Northwestern Mutual's 2024 Planning & Progress Study, one third of millennials expect to receive an inheritance, but only 22% of Boomers expect to leave one (see Figure 3). Of those that are expecting an inheritance, half consider it “critical” or “highly critical” to their financial security.
This idea of a massive transfer of wealth will not affect as many people as you believe.
IMO, it is simply a feel good phrase put out by media to get clicks.
The “great wealth transfer” is largely irrelevant to the majority of Americans.
Take it for what it is worth.
This post was edited on 8/23/25 at 3:24 pm
Posted on 8/23/25 at 3:12 pm to Mingo Was His NameO
quote:
Trashy as frick and quite frankly, sick behavior
Posted on 8/23/25 at 3:45 pm to Scruffy
I dont think I ever said it will affect the majority. Clearly, not all boomers are wealthy.
It will likely affect 20-30% of following generations, and has been historically proven, a lot of that wealth will get spent.
I disagree with your media commrnt; although the media is largely clickbait now.
Multiple, diverse sources agree that somewhere between 45-80T will br transferred in the next 20 years.
We arent going to live forever, and we can't take it with us.
It will likely affect 20-30% of following generations, and has been historically proven, a lot of that wealth will get spent.
I disagree with your media commrnt; although the media is largely clickbait now.
Multiple, diverse sources agree that somewhere between 45-80T will br transferred in the next 20 years.
We arent going to live forever, and we can't take it with us.
Posted on 8/23/25 at 3:47 pm to saderade
quote:
No but I’d rather focus on kids as their development is much more important for the future of our society as a whole.
This. The kids are more important than the Boomers. The kids will pay their taxes in the future. Can't use whose paid more into it here, as they eventually will. Lot of these 90 year old hospital patient getting treatment that costs $250,000 just to extend their life another 4 months. All that insurance coverage is then passed onto me who is 6'2" 180 lbs, and has never exceeded in actual hospital costs verse what is paid for health insurance for me in any calendar year I've been alive. It would've made more mathmatical sense in my 30ish years to have never had health insurance and just paid out of pocket for everything as I've never exceeded the $8-10k of how much my insurance costs.
This post was edited on 8/23/25 at 3:51 pm
Posted on 8/23/25 at 3:54 pm to Scruffy
As a $90 trillion Great Wealth Transfer looms, more Americans say they are preparing to leave a financial legacy, yet fewer expect to receive one themselves. Nearly one-third (31%) of U.S. adults anticipate leaving an inheritance or a financial gift / donation to a charitable organization – up from 26% in 2024. Meanwhile, just one-fifth (20%) expect to receive an inheritance, a decrease from the 25% who said the same last year.
From the 2025 Northwestern Mutual Planning and Progress Report:
From the 2025 Northwestern Mutual Planning and Progress Report:
Posted on 8/23/25 at 3:56 pm to tiggerthetooth
quote:
doesn't even mention the stupid pensions.
Yeah not going argue with you on this one. Total BS the old pension system. Draining many governments these days.
Posted on 8/23/25 at 4:01 pm to N2cars
quote:Yea, that goes along with my previous posts.
Nearly one-third (31%) of U.S. adults anticipate leaving an inheritance or a financial gift / donation to a charitable organization
~30% of boomers will leave something via inheritance.
70% will leave minimal, nothing, or debt behind.
Posted on 8/23/25 at 4:04 pm to tiggerthetooth
I love my father, he is my hero. He is 85 years old and has been retired with about $6k income since he was 62. He worked his entire life, paid into the system as required, and I suspect he gets about 100% return on that investment at least once a year IF he hasn't had some health issues like he has the last 5 years. He just completed a series of radiation treatments for cancer....all in just under $250K just for the radiological oncologist. Not including the other doctors and specialists and the 8 weeks of rehab an ongoing in home care....just for the one disease. He is all in on "if the government is paying for it, I am going to get it". He is not alone, the entire industry serving the elderly push that narrative non stop. He ain't alone, almost all of them have the same mindset. I am very grateful that it is being paid for by those of us who pay now but it is a very real problem and a big reason young people, who earn less simply due to having less experience etc, have a hard time getting started let alone ahead in life.
Posted on 8/23/25 at 4:11 pm to Corinthians420
quote:
do children need social security?
Children who have lost one or both parents certainly need social security and are entitled to it if their parent(s) paid into the system. This has been part of social security from the start.
I don't want to euthanize anyone BUT there is an entire industry which is highly lucrative for the doctors and lawyers and other professionals working in it whose main function is to convince the elderly that they are entitled to any amount of money it costs to keep them alive and comfortable for as long as possible. Nursing homes are full of people who would have died of natural causes years ago who are miserable, many almost unaware of where they are, who they are and if they are still alive or not...and they cost the system a PILE of money and most of them have long since exhausted any savings or wealth they may have accumulated. It is a problem. No easy answer but it is a problem
Posted on 8/23/25 at 4:12 pm to tiggerthetooth
Careful, lest you run afoul of the boomer brigade. The only thing a boomer hates more than take more than their fair share of everything is to be told they are social leaches and are leaving a society in decay for their progeny to enjoy. 
Posted on 8/23/25 at 4:16 pm to forkedintheroad
quote:
Millennials will soon have enough voting power to dissolve it and come out with more than nothing, if they have the balls to do so.
The problem with this is the amount of money social security distributes to orphans, the disabled and the widowed. The individual will have more money in retirement BUT that is only a portion of what social security covers....and orphans, the disabled and the widowed, unless millennials begin to do things like crawling on the funeral pyre of their spouse or parent like some cultures do, will still have a cost of living that will be met one of 3 ways, work, the dole or crime. Many of that group can't work, very little a 3 year old child can do that would be worth any money. Someone is going to pay UNLESS unlucky frickers like orphans, the disabled or the elderly simply die when they can't or do not have someone who can earn their nut for them. I know that many among us like to think that because they work and earn a living anyone can or can just die but children, the disabled and the elderly tend to disagree with that sentiment and unfortunately for the assholes who do think this way most of society agrees with the orphaned, the disabled and the elderly....
Posted on 8/23/25 at 4:18 pm to Mingo Was His NameO
"Many of them, absolutely"
Such a pathetic little POS.
Such a pathetic little POS.
Posted on 8/23/25 at 4:18 pm to Artificial Ignorance
quote:
Older folks paid 6.2% on up to $176k (2025 cap) of salary for their working life.
They actually EARNED the entire amount of their employment tax burden....the employer's portion also came out of the employee's wages, no competent employer would "contribute" anything on behalf of an employee who did not earn it....
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