Mildly Infuriating
Home to all things "Mildly Infuriating" Not infuriating, not enraging. Mildly Infuriating. All posts should reflect that.
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It's just good to get something in this website for casual viewing whilst refreshing original content is added overtime.
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Yes, each generation dies off and passes its wealth to the next. But the boomers are an unusual case because they hold a lot more wealth relative to their size. Boomers and millennials each account for about 20% of the US population. But boomers hold 50% of the wealth in America, while millennials only hold 8%. The wealth transfer as the boomer generation dies off is going to be massive. And most of that Boomer wealth is tied up in real estate, which will have a big impact on the housing market when it becomes available.
https://www.nasdaq.com/articles/more-than-half-of-us-wealth-belongs-to-baby-boomers:-will-other-generations-catch-up
https://www.statista.com/statistics/296974/us-population-share-by-generation/
(Gen X is somewhere in the middle and I'm skipping over them, as is tradition. They wouldn't want it any other way.)
Edit: meant Gen X, not Gen Z.
The wealth transfer isn't going to happen. Its being eaten by elder care and medical industries, and any other predatory businesses that want a slice of the pie.
Yeah I was going to say, our country is setup to drain any savings you have before you die via medical debt. Isn't transferred to the next generation it's intercepted by parasites.