Corporate nursing homes milking them of all their remaining inheritable money.
Exactly this. I’ve seen it with two of my family members.
And casinos.
They’re spending all of the money that might go to our inheritance on themselves, but mostly because the medical system has figured out how to extract all of their money from them when they are near death through hospice care, assisted living facilities, and other means.
Mutually Assured Destruction
My dad gets a kick out of hearing how bad the environment is. He literally wants the world to die with him. I think most boomers feel that way. I think they truly would love the word to be nucked. They don’t give two shits about any other generation. Thats why they don’t care about climate change. They truly so selfish that the world should die with them and we all suffer.
He’s why The Greatest Generation, and The Forgotten Generation called them The Me Generation, not Boomers. The Me Generation then tried to stick Gen X with that moniker, not realizing that they were too selfish to have enough children for Gen X to ever be relevant.
I personally don’t like the idea of inheritance in general but first thought that came to my head when I read this - every time I hear about the “great wealth transfer” that’s supposed to happen, I think nah, it’s all going to go to long term care and into the pockets of the people who own those places.
The easy answer is by spending all their money before they die so that their kids/grandkids don’t really have an inheritance.
This works for me. My dad died when I was 19 and I got a little insurance money, but he left his significant estate to his 2nd family. Fucking pos, burn in hell.
Wife’s dad died a few years later. Left her a little, but when you’re 20-something, you have no idea how to manage it. Had a relative help manage it, she did a great job of picking losers so it slowly dwindled down to very little in about 10 years.
Wife’s mom was an invalid ward of the state, we had to pay for a bunch of her expenses. No insurance or assets to speak of, all her shit went into a dumpster as most was garbage.
My mom is left and shes never met a dollar she couldn’t spend. My brothers and I are giving her money and food so she can stay in her house, but its in a shitty neighborhood and has many stairs. She has already said she won’t go into a home, I guess that means one of us has to take her in. She has lots of ugly old Ethan Allen furniture that she thinks is worth a fortune, but its just ugly old furniture.
All we got from this was a little money when we were too young to manage it and expenses from anyone left.
I am so envious of friends who have parents that put something aside for them. They will have an actual retirement. I will be working until I’m old as shit.
They’re more likely to kick the ladder out from under themselves, if gen Z doesn’t been them to it.
Immortality serum.
Dying and leaving us holding the bag.
Rather, dying and leaving it all to the few sycophantic offspring they’ve managed to brainwash to continue their legacy.
this… this is absolutely my exact life situation right now.
like we don’t agree about ANYTHING even though i am literally watching them suffer from the consequences of how they’ve been voting since they came of age (fuck Reagan)
why do i keep hanging out with them? because they have a boat? i don’t think it’s worth it anymore
ugh
Firing the FED chairman and putting a political appointee in his place. It’s kicking the ladder out from underneath you while you hang yourself with Epstein’s rope.
I think crashing the dollar is more likely to screw the boomers than the young. They have the wealth which will devalue. The super wealthy with generational wealth will be fine as inflation will help their assets. the boomers transitioning from assets to cash for stability in retirement will be screwed.
I disagree. Inflation affects property (which probably refers to every tangible thing you will interact with other than the currency that is inflating). If the amount of money you need to give up in order to acquire an object increased due to time passing, that is “inflation”. That means that when inflation happens, every person who has at least 1 dollar bill suffers (since they won’t be able to trade it for as much stuff as they could before). A person who is significantly wealthier than someone else probably won’t have a significantly larger amount of money. Elon Musk surely doesn’t have 1 billion $1 bills stored in a basement: they probably have a large amount of money in their wallet and in a bank account, but I would be surprised if less than 90% of their net worth was derived from owning property. A “billionaire” might have 100 times as much “money” as the typical person, but they probably don’t have 10,000 or 100,000 times as much: https://breznikar.com/articles/how-much-cash-on-hand-do-billionaires-have/1781 https://www.fidelity.com/learning-center/smart-money/average-net-worth-by-age This means that when there is inflation, a poor person’s net worth will likely decline more than that of a rich person, since it’s likely that a large amount of a poor person’s net worth will be in the form of cash when compared to a rich person (and the net worth of a rich person will probably increase, since it’s likely that the value of their property will increase more than the amount they lose from the value of their money going down). People who are older are usually wealthier than young people, and people who are wealthier probably derive a larger percentage of their net worth from owning property than someone who is less wealthy, so when inflation happens, the net worth of young people probably decreases more when compared to older people.
Some things that can offset the impact of inflation are having debt and/or income that increases when inflation happens. I intentionally mentioned that property is tangible, but income and an obligation to pay someone using money seem less tangible. If you only own a $100 bill in your pocket, but you have a debt of $100 and your household income is $80,610 each year, if prices double but your income doubles too, that means that your net worth would not really change (you still have $100 and owe $100), but it would be easier to pay your debt (since it would become a smaller proportion of your income). If your income increases faster than inflation does (which is technically a typical situation), that means that you are in a better position as time passes! Moreover, old people typically have less (earned) income and debt than younger people, so in some ways young people have an advantage over old people.
In general, getting more (earned) income and debt is probably the way to overtake someone older than you. Getting a job providing something that old people pay for (like gambling or medical services) is probably an even better way.
Yes, I agree. The ultra rich won’t be affected as their assets price will rise. The boomers who have reverse mortgages their house have cash, or a perpetuity. The asset will rise. Their money will not.
The poor will certainly be worse off, as they always are. The young will be worse off. However, their wages will rise to catch up. Maybe not enough, but a rose nonetheless. The boomers depending on the reverse mortgage income or the cash pile from the agreement will just have devaluation.
Boomers will be more worse off in dollar terms and percent of wealth lost. At least, that’s my guess.
Go full zombie (with the help of Fox ‘News’).
Then put all of their assets into Trump coins.
In the U.S., project 2025.
I remember reading an analysis before the inauguration that it was expected to take 40 years to reverse all of the policies that Trump told people at the time he would implement, and now, I shudder to think how long it will take to reverse the current dammage
The Me generation has already pulled the ladder so high, that most of Gen X never made it onto even the bottom rung.
Their parents named them The Me Generation. They tried to stick that label on Gen X, not realizing that they didn’t have enough of us for us to ever be relevant.
The Greediest Generation will be taught about, as the people who were so shortsighted they sold out themselves and their next 5 generations of offspring.
Leave their houses to their pets when they die.
Nah, pets are too mortal. They’ll be donated to the historical association and be considered landmarks we can neither destroy or live in.
Pet tortoise?
still mortal, could have an untimely deathYes, tortoises, let’s tell them to leave it all to tortoises.
They’ve already done it. The environment is fucked for future generations.
they didn’t stop
It’s been happening for a while. Aged care is very expensive, and is often secured with assets. These places will take all the hoarded wealth before it can transfer to anyone who needs it.
Some would say the answer is to not outsource care of our loved ones, but how do we do that without housing or job security, in an economy where nobody has the time for it?
There is also the faintest possible possibility that some sort of home health care robot will become available in the next 20 years or so, but it’ll probably be very expensive.
20 years?
You know boomers are already 70+ right? In 20 years they’ll all mostly be dead anyway and their wealth sucked up by medical debt and end of life care services.
