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re: Millennial and Gen Z Wealth Is Growing Much Faster Than Older Generations
Posted on 2/12/24 at 4:03 pm to ronricks
Posted on 2/12/24 at 4:03 pm to ronricks
quote:
Boomers are going to transfer 30 to 40 Trillion in wealth to their Gen X and Millennial offspring in the next 10 to 20 years.
Maybe, we'll see.
A lot of Boomers are tired of the complaining from their Woke children and grandchildren how Boomers are the cause of all their problems.
2
Posted on 2/12/24 at 4:07 pm to Bass Tiger
quote:
A lot of Boomers are tired of the complaining from their Woke children and grandchildren how Boomers are the cause of all their problems.
I didn't realize the resentment for boomers by the youngs until I got a taste of it in this forum. My kids are good. I will happily transfer what I have to them after my wife and I kick the bucket. In fact I'l transfer what I can without tax consequences now and going forward.
Posted on 2/12/24 at 5:30 pm to ronricks
quote:$84 trillion over the next 20 years, according to estimates by the consulting firm Cerulli Associates ... jfwiw
Boomers are going to transfer 30 to 40 Trillion in wealth to their Gen X and Millennial offspring in the next 10 to 20 years.
This post was edited on 2/12/24 at 5:32 pm
Posted on 2/12/24 at 5:41 pm to Bass Tiger
quote:Uncle Sam is both instigator and arbiture in that conflict.
A lot of Boomers are tired of the complaining from their Woke children and grandchildren how Boomers are the cause of all their problems.
The MSM is simply doing Uncle Sam's bidding. Anything he can rip off from the public is a-okay.
Any 'Boomer' allowing our socialist Fed SOBs to intervene between themselves and Boomers lookin to pass assets on is an effing imbecile!!!!
Posted on 2/12/24 at 8:03 pm to ronricks
quote:
It's not what you make it's what you save. It's a story as old as time. I know high earners who are basically living paycheck to paycheck because they have huge home loans, car loans, boat loans, swimming pool, etc. What someone 'earns' is irrelevant its what they save that matters.
Not what we were discussing at all. The other poster said our generation only has money because of inheritance. I’m disputing that and using myself as an example.
Posted on 2/13/24 at 6:39 am to TCO
quote:The conversation migrated from wealth conservation to income.
I wasn’t given a thing and I make more money than my parents ever did.
Getting back the OP, the generalized presumption is Gen-Y delayed or avoided home purchases. Home ownership was previously a middle-class wealth repository. The generalization is Gen-Y made/makes plenty of money, but spending habits prevent them from accumulating it.
Gen-Y financial tendencies and choice are borne out in surveys, and are fairly unique. E.g., Gen-Z is ahead of Gen-Y in terms of age-comparable homeownership.
Given that history, and the recent trajectory of real estate prices, it is nice to see Gen-Y millennials closing the wealth gap. The more market-invested a generation is, the less likely it is to pursue progressive socialism.
Posted on 2/13/24 at 6:44 am to ronricks
quote:
Boomers are going to transfer 30 to 40 Trillion in wealth to their Gen X and Millennial offspring in the next 10 to 20 years.
With our luck my peers will vote to give it all to other countries.
Posted on 2/13/24 at 7:01 am to NC_Tigah
quote:
$84 trillion over the next 20 years, according to estimates by the consulting firm Cerulli Associates ... jfwiw
I’m seeing a lot of people under 60 who had parents who did well and then they themselves did well and have inherited a sizable amount of money and assets. They’re heavily investing in real estate and retiring early.
Posted on 2/13/24 at 7:15 am to CleverUserName
quote:
The millennials have probably went from 10k of savings to 18 to 20 because of the market.
This is high. The average American doesn’t have $1000 liquid to use for a random emergency
There’s relatively a few of us millennials and Gen Zs doing very well, and a lot that are doing very poorly bc they generally suck
Posted on 2/13/24 at 7:38 am to Upperdecker
quote:IRAs aren't really "liquid" for Gen-Y
The average American doesn’t have $1000 liquid to use for a random emergency
quote:
Posted on 2/13/24 at 7:51 am to NC_Tigah
quote:
Faster wealth growth among younger adults,” the researcher wrote, “has led to a limited narrowing of age-based wealth disparities over the past four years.”
This is exactly the way you would expect it to work. Working adults should be accumulating more wealth than retirees the oldest millennials are over 40.
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