The Great Wealth Transfer... Won't Change Anything (probably)

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All that money is going to nursing homes long before it goes to their kids.

It'll be the greatest generational transfer of wealth... to corporations, not to their kids.

Ah, the Great Wealth Transfer—sounds like an epic plot twist in the investment world! Seriously, though, if you’ve got $$ sitting in your emergency fund and you’re itching to start investing, I say go for it. Just don’t expect this massive shift of wealth to magically make you rich overnight. Remember, investing is like cooking; you need the right ingredients, and sometimes a good recipe doesn’t hurt. Maybe start with something low-risk while you figure out the lay of the land. Good luck, and may your portfolio be ever in your

“A society grows great when old men plant trees in whose shade they shall never sit.”... Boomers will be remembered as the generation who cut down the orchard for firewood.

For boomers and senior citizens, the current market and economy are unnecessarily harder. I'm used to simply purchasing and holding assets, which doesn't seem applicable to the current volatile market, and inflation is catching up with my portfolio. My biggest concern is whether I'll survive after retirement.

I recommend diversifying your investments by considering stocks alongside real estate. During a recession, there are potential buying opportunities in the stock market if approached cautiously. Additionally, market volatility can offer short-term buying and selling opportunities. However, please note that this is not financial advice. It's important to be proactive in investing as cash may not be the most advantageous option during these times.

My Boomer in laws actually went out of their way to tell us they’re spending all their money. Like…completely out of nowhere. My wife and I do great. We’ve literally never asked them for a dime. It was weird.

My boomer Dad said he was told by a boomer friend to spend and enjoy his money because the "kids only care about money". I told him I agreed for him to spend it. Instead he created a living trust and transferred his property to it and left us as beneficiaries. My dad is currently being evaluated for dementia with psychosis.

If my mother went to a nursing home this year it'd cost around $10K per month. Possibly more as she needs full care and dementia care. So about $120,000 per year if she were lucky. That's why I'm taking care of her at home by myself with hospice helping. Just too expensive to put her in a place that's been notoriously bought up by private equity companies that cut staff and leave patients drugged and neglected from overworked staff. Not worth the $10K+ a month.

I remember my parents bragging that they went to college on $3k, and that they plan to take their wealth and donate all of it so my siblings and I can get it ourselves. They like to laugh that it won’t matter because they’ll be dead. They are confused why I resent them as I’m struggling to make ends meet

My boomer father lives in a 1.2 million dollar, four bedroom house by himself. He has a BMW convertible, just bought himself a brand new Audi SUV, and flies first class everywhere he goes. Yet he still asked me, a married father of two young kids who drives a 12 year old Hyundai to give him $75,000. This generation is unbelievable.

I retired in 2021 believing $400k would be enough, but with this sustained inflation, that's no longer my reality. Each withdrawal has made it harder for my nest-egg to recover through compounding Interest. I deeply regret not saving more when I had the chance

Reverse mortgage to keep overspending as they have their entire lives will mean there is nothing left to inherit.

tl:dw : If 10% of people hold 90% of the wealth then after transfer you still end up with 10% owning 90%

They'll spend it on holiday in retirement, nursing home or whatever else. It's what they were taught growing up, work hard in life and then enjoy the well earned retirement, in their mind their kids still has same opportunities for futures they do when they were young. Still see Boomers bleating that back in their days their mortgage interest was 15% and we have it too low. 15% interest on a $70k mortgage with a $25k income when food cost pennies is a lot more manageable than 6% interest on a $350k mortgage on a $50k income.

I'm not worried that they will make sure our money have no value regardless.

As someone passionate about investments, I often contemplate the strategies and paths that enable top-tier investors to amass wealth in the millions. While I possess a substantial initial capital, I am uncertain about the specific tactics or avenues that would facilitate achieving gains exceeding $400k, similar to those achieved by several others this season.

Black Millennial, we aren't getting shit. If we can get funeral costs, that's a minor win.

Creating wealth entails establishing positive routines, I had only $78k to my name at 42 when I first woke up to this reality. I chose the stock market as a medium of growth, got an excellent financial advisor, Financial management is a vital subject that many avoid, often leading to future regrets.