Article assumes Boomers won’t spend it all before they die.
https://www.theguardian.com/money/2024/feb/28/millennials-richest-generation-wealth-property
Weird it doesn’t feel like it.
It’s the cruelest clickbait I’ve seen in a long time.
Richest in variety of debt, maybe
Just as a feature of inflation the numbers that represent the wealth held by millenials will almost certainly eclipse that held by previous generations. But also thanks to inflation the actual value change represented by that larger number is sweet FA. Everything is just more expensive.
Isn’t this is all technically attributed to people like Mark Zuckerberg, who on his own accounts for 2% of all millennial wealth?
The ultra wealthy keep skewing the fucking “average” numbers ever higher until the “average” is way higher than what over half of citizens actually have.
Spider Georg moment
This article assumes my parents are rich. I don’t have new money and I’m not receiving old money.
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“Currently alive people have higher number in bank account than previously alive people, which is known as inflation”
Highest mean wealth sure, but median…
The writer should maybe go and visit some nursing homes. They’ll find a fuckload of poor old people that are most definitely not wealthy.
All that money in ticky-tack mcmansions that they’ll never sell.
Wealth isn’t wealth if it’s paper only.
Money isn’t worth anything until you spend it
Also the generation with the shittiest wealth distribution. Inheritance is not fair and should be taxed exponentially to the amount. Nothing wrong with inheriting one small family house, but that should be all you can inherit.
The rich TOTALLY promise to pass it on, just like all the other things they have done for the world for future generations. -WINK-, that will shut them up right Media-dog? BARK! Good… good article…
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Meanwhile, every discussion about inheritance tax is poisoned by people claiming they would need to still their parents house.
thanks to the property assets accumulated by the generations before them.
These people have clearly never heard of reverse mortgage. So take what they have to say with large heapings of salt.
While they wait for their inheritances
LOL. Yeah these people are taking the piss here. Many of the folks I know with boomer parents that have already passed have seen roughly 90% to 96% of the accumulated wealth either taken in medical expenses, obligated debt, or just straight up poor ass planning that left the parents near penniless in their final days.
This whole story is predicated on ignoring massive costs that come at end of life that many boomers have not planned on. And one can easily objectively see then ignoring this by failing to account the massive upswing in reverse mortgages and filial responsibility cases.
The boomers are not giving us anything when they die except headache.
Was this article written by Philomena Cunk?
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No fuck off gen x already blew theirs on cocaine and dotcom stocks
I never had money for cocaine or stocks.
I’m Gen X and I’ve always been poor.
My parents weren’t doing much better, either.
I don’t think I can ever retire. I’ll be one of those people that gets evicted from a nursing home
Every generation got fucked. Boomers may be stupid in a lot of cases but they are mostly suffering under the same issues we are.
No war but class war.
when i was 20, i took care of my grandmother. she got evicted from a so-called ‘Christian’ assisted living facility, that evicted her on Christmas.
people… what a bunch of bastards.
Christian is a dirty word and it’s Christian’s fault
Sorry, remember that Nintendo you wanted so badly as a child you would do anything to get? Honestly I pretty happy I’m not millennial or gen z, they got it pretty bad. I at least got to live in a cheap Los Angeles and take a decade of my life figuring out a career. These days you better be laser focused and do everything perfectly if you want to thrive.
Can relate, am screwed
Gen X here. Mother died of cancer when 13. Father left us two weeks after that. Several years later, father penniless and died of an OD in a ditch in East Tennessee.
Literally was trying to be left with the debt by the State of Tennessee, actually had to obtain a lawyer to show my legal declaration of becoming an orphan when I was a kid to get them to stop.
So the only thing they left me with was a lawyer bill and about two years worth of court proceedings. So no, at least for me, we’re not getting anything from them.
Eat the rich.
