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Message
re: Boomers have 63% of 84.4 trillion dollars of wealth the government wants.
Posted on 8/3/22 at 2:34 pm to NineLineBind
Posted on 8/3/22 at 2:34 pm to NineLineBind
quote:
In the coming decade, people who are now in their 50s will be receiving more money than anybody else through the wealth transfer,” Horton said. “A lot of the wealth out there that is going to be passed along is right now sitting in retirement accounts and brokerage accounts of people in their late 70s, 80s and 90s.”
Yep
0
Posted on 8/3/22 at 2:35 pm to El Segundo Guy
quote:Nothing wrong with this. Would put more money into businesses, increase wages, and give younger people a chance to earn it.
I don't plan on leaving money to the government or any young person. If I didn't spend every bit of it, then I didn't do it right.
Much better than leaving it in account you never touch and let the bankers and investors sighing off of it for 40 years.
Posted on 8/3/22 at 3:38 pm to Mahootney
quote:
We don't live in a world anymore where 1 worker with a high school education can provide for a family of 5.
You almost need 2 workers with advanced, useful degrees to live the same lifestyle.
I'm at the tail end of the Boomers. There is no way a Boomer coming out into the world in the 80's could have provided for a family of 5 on a HS education. We were getting started when interest rates were 15% and inflation was crazy!
Posted on 8/3/22 at 3:42 pm to Bass Tiger
quote:
once they hit age 18-21, it was generally, there's the door,
This is such a bull shite line made up by older generations. Many boomers received support from their parentsand had their college and first homes paid drop by their parents. Just because your family was a bunch of broke dicks doesn't mean boomers across the country weren't getting help from their families.
Such a crock of shite.
This post was edited on 8/3/22 at 6:24 pm
Posted on 8/3/22 at 4:17 pm to Lawyered
I have an uncle who is your typical Baby Boomer but he isn’t greedy or selfish. He has no kids and like 5 million just in his 401k. He also has an IRA and other savings totaling lords knows what. Let’s say another 2 million. He’s retired and drawing the maximum amount of SSI which is like $3500 or something. He won’t travel doesn’t have any hobbies wears the same clothes he had 10 years ago etc. 
My brother and I have tried to encourage him to travel or get a few hobbies or go and buy a late 60’s muscle car etc. he won’t do it. Says he’s perfectly happy.
Seems there are Boomers on both ends of the spectrum the ones that are the me me me greedy and selfish ones that will spend everything they have and then will help bankrupt SSI and Medicare and the ones that have tons of money and won’t spend any of it or give some away to family. It’s crazy.
My brother and I have tried to encourage him to travel or get a few hobbies or go and buy a late 60’s muscle car etc. he won’t do it. Says he’s perfectly happy.
Seems there are Boomers on both ends of the spectrum the ones that are the me me me greedy and selfish ones that will spend everything they have and then will help bankrupt SSI and Medicare and the ones that have tons of money and won’t spend any of it or give some away to family. It’s crazy.
Posted on 8/3/22 at 4:26 pm to loogaroo
It's why they brought out the covid, they knew it would kill the boomers off. They knew the flu/cold/etc wouldn't do it fast enough and in the same numbers.
NEVER, EVER underestimate this Government(under both parties), and their ability to kill americans.
They poisoned Navy soldiers on boats to see the effects. They pass laws making it ok for President to go ahead with a Terrorist event on USA soil, if it can boost morale. All of this happened many years ago, but these fricks are even more deadly and sickening.
The FBI,CIA, and Politicians give no shits about any of us. You think inflation hurts them? They double down on some stick, they just passed laws to help or protect, etc.
NEVER, EVER underestimate this Government(under both parties), and their ability to kill americans.
They poisoned Navy soldiers on boats to see the effects. They pass laws making it ok for President to go ahead with a Terrorist event on USA soil, if it can boost morale. All of this happened many years ago, but these fricks are even more deadly and sickening.
The FBI,CIA, and Politicians give no shits about any of us. You think inflation hurts them? They double down on some stick, they just passed laws to help or protect, etc.
This post was edited on 8/3/22 at 4:40 pm
Posted on 8/3/22 at 4:26 pm to CarRamrod
quote:
you said it twice so i will too, You think this is their childrens fault?
Who else would be blamed?
Posted on 8/3/22 at 4:29 pm to Mahootney
quote:
Why does 30% of the population have 63% of the wealth?
Are you really needing it explained why a generation that has worked, saved and invested for 40 years has substantially more wealth than generations that have worked, saved and invested for far less time? Not to mention where raising a family falls on the timeline.
Posted on 8/3/22 at 4:29 pm to loogaroo
What most boomers don’t understand is that the government doesn’t have to take your savings. They know that would become violent very quick.
Instead they can’t redistribute wealth by inflating your savings away. They can spend as much as they want and you can’t do a damn thing. This is exactly the same as stealing your savings.
Wages will eventually rise and your savings are worth less.
The left isn’t dumb. They just have a mental illness.
Instead they can’t redistribute wealth by inflating your savings away. They can spend as much as they want and you can’t do a damn thing. This is exactly the same as stealing your savings.
Wages will eventually rise and your savings are worth less.
The left isn’t dumb. They just have a mental illness.
Posted on 8/3/22 at 4:30 pm to deeprig9
quote:
Keep your eyes and ears open for anyone using the phrase "means testing". They've been arguing this for over 20 years. It was a big topic in the 2000 election where "saving social security" was a major issue. Even some republicans agreed with some method of means testing.
And to think, SS is already re-taxed progressively as normal income beyond a very low dollar threshold.
quote:
LINK › benefits › retirement › planner › taxes.html
You will pay tax on only 85 percent of your Social Security benefits, based on Internal Revenue Service (IRS) rules. If you: between $25,000 and $34,000, you may have to pay income tax on up to 50 percent of your benefits. more than $34,000, up to 85 percent of your benefits may be taxable. between $32,000 and $44,000, you may have to pay ...
Posted on 8/3/22 at 4:41 pm to Knuckle Checker
quote:
What most boomers don’t understand is that the government doesn’t have to take your savings. They know that would become violent very quick.
Instead they can’t redistribute wealth by inflating your savings away. They can spend as much as they want and you can’t do a damn thing. This is exactly the same as stealing your savings.
I think most boomers understand this. It's why, for example, they and the generation before them voted Trump and all the generations younger than them voted overwhelmingly for Biden.
Posted on 8/3/22 at 4:43 pm to Auburn80
quote:
Big mistake made by many. There are reasons to take it at 62, but very good reasons to wait. I'm waiting until at least full retirement age and I will make more long term.
If you are still working and earning income, it is better to wait. Otherwise, they'll take almost all of it back depending on how much you make. At full retirement, you get to keep it all except that it is progressively taxed again depending on what you make.
The sad thing is that the SS "Trust Fund" pays around 2% interest while inflation over the last 40 years has been about 4%. In constant dollars, that's a negative interest rate. Quite a racket. No wonder dem politicians love it.
Posted on 8/3/22 at 5:07 pm to Screaming Viking
quote:
So instead of giving us some money
entitled sh!t. i would give you nothing with that attitude.
quote:
So the nursing home can inevitably get it.
how about HELP them out? it is your family. and if you were to do it in the hopes of getting some money...I would leave all the money to the mailman before I gave you anything.
I have made a deal with my wife. when we are ending our time here, we will match whatever my kids have saved. if they save zero, they will gat zero. if they save $1M, we will match it. if over time they are turds...zero.
You missed the middle ground big time if you think mid 80s people's should be hard asses so the nursing home can get the money rather than family. And the nursing home will get it.
Posted on 8/3/22 at 5:13 pm to loogaroo
Our family has worked extremely hard over the generations to build enduring wealth.
It’s not our fault that the Government printed trillions out of thin fricking air.
fricking THIEVES.
It’s not our fault that the Government printed trillions out of thin fricking air.
fricking THIEVES.
Posted on 8/3/22 at 5:15 pm to Barstools
quote:
once they hit age 18-21, it was generally, there's the door,
This is such a bull shite line made up by older generations. Many boomers received support from their parentsand had their college and Friday homes paid drop by their parents. Just because your family was a bunch of broke dicks doesn't mean boomers across the country weren't getting help from their families. Such a crock of shite.
You seem angry. Are you one of those who is being subsidized?
Posted on 8/3/22 at 5:24 pm to David_DJS
quote:
What most boomers don’t understand is that the government doesn’t have to take your savings. They know that would become violent very quick. Instead they can’t redistribute wealth by inflating your savings away. They can spend as much as they want and you can’t do a damn thing. This is exactly the same as stealing your savings.
I think most boomers understand this. It's why, for example, they and the generation before them voted Trump and all the generations younger than them voted overwhelmingly for Biden.
Exactamundo!
Posted on 8/3/22 at 5:29 pm to loogaroo
quote:BINGO!
Really seems like the government doesn’t want any of us to get any of it.
quote:Yet, the way conversations drift here, it seems Boomers have 55-65 trillion dollars of wealth Millennials actually want the government to intercept, and prevent getting passed along.
Boomers have 63% of 84.4 trillion dollars of wealth the government wants.
This post was edited on 8/3/22 at 5:31 pm
Posted on 8/3/22 at 5:40 pm to NC_Tigah
quote:
Really seems like the government doesn’t want any of us to get any of it.
BINGO!
quote:Boomers have 63% of 84.4 trillion dollars of wealth the government wants.
Yet, the way conversations drift here, it seems Boomers have 55-65 trillion dollars of wealth Millennials actually want the government to intercept, and prevent getting passed along.
I know several somewhat conservative Boomer age couples with Ultra Woke children. These ungrateful children who loathe Boomers are too stupid to understand when they vote for the Groomer party they’re essentially diminishing their potential inheritance.
They’re all gonna find out the bumper sticker on that fully loaded GMC Denali 2500 pickup that reads…..,
“I’m Spending My Ungrateful Children’s Inheritance.”
Ain’t no damn joke….lol!
Posted on 8/3/22 at 5:51 pm to deltaland
Boomers are the perfect example of being born on third base and bragging about the triple they never actually hit.
By far the least educated generation in our country. The world has passed them by. And they cling to power And they keep churning out shitty boomer politicians that vote for the boomer’s best interest while face fricking the rest of the country. (Pelosi, Schumer, McConnel, the Clintons, the Bush’s and on and on and on)
By far the least educated generation in our country. The world has passed them by. And they cling to power And they keep churning out shitty boomer politicians that vote for the boomer’s best interest while face fricking the rest of the country. (Pelosi, Schumer, McConnel, the Clintons, the Bush’s and on and on and on)
This post was edited on 8/3/22 at 5:57 pm
Posted on 8/3/22 at 6:03 pm to ManBearSharkReb
quote:Did you miss the part where
Boomers are the perfect example of being born on third base and bragging about the triple they never actually hit.
quote:are you suggesting they inherited that? I would submit that they built it which is the antithesis of "born on third base".
Boomers have 63% of 84.4 trillion dollars
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