NYT Opinion Piece: This Isn’t What Millennial Middle Age Was Supposed To Look Like

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

I’m Gen X And I wish my silent generation parents would spend their money and enjoy themselves. I don’t expect nor want anything from them. They loved me, they raised me, they paid for college and they worked really hard to do it. They made a series of prudent choices every.single.day to ensure that we would be cared for and get a solid start. After that, the rest was up to me. They owe me nothing.

Same. Except I'm millennial and my parents are boomer equivalents, who grew up poor in an another country. They've done enough and more for me, so I'd rather they enjoy and not worry about my kid's future.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Good for them.

Of course it would be really convenient for me to inherit something from my parents, but guess what, they owe me nothing. How great that yours are enjoying their life.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Good for them.

Of course it would be really convenient for me to inherit something from my parents, but guess what, they owe me nothing. How great that yours are enjoying their life.

You can't be serious to hear that story and think 'good for them'. It's very selfish of them, which I guess is good for them. The PP was clear that the money came from PPs grandparents, who probably didn't have a will, so it all went to PPs parents. If that story is true, PPs parents are incredibly selfish and poor stewards of THEIR parents bequest.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

I thought a beach property was a bad investment and will be underwater in a generation or two? Sounds like they are following the news and sold the property.

There are plenty of ways the parents could’ve spend the money after selling the house that benefitted them and PP and her kids, not just gallivanting around the world.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Good for them.

Of course it would be really convenient for me to inherit something from my parents, but guess what, they owe me nothing. How great that yours are enjoying their life.

You can't be serious to hear that story and think 'good for them'. It's very selfish of them, which I guess is good for them. The PP was clear that the money came from PPs grandparents, who probably didn't have a will, so it all went to PPs parents. If that story is true, PPs parents are incredibly selfish and poor stewards of THEIR parents bequest.

I agree, it's just selfish to take money from their own parents but not prepare to leave any to their own children. It would be a little different if it was all self-made money.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Good for them.

Of course it would be really convenient for me to inherit something from my parents, but guess what, they owe me nothing. How great that yours are enjoying their life.

You can't be serious to hear that story and think 'good for them'. It's very selfish of them, which I guess is good for them. The PP was clear that the money came from PPs grandparents, who probably didn't have a will, so it all went to PPs parents. If that story is true, PPs parents are incredibly selfish and poor stewards of THEIR parents bequest.

I agree, it's just selfish to take money from their own parents but not prepare to leave any to their own children. It would be a little different if it was all self-made money.

There's always more to such stories than we are told, assuming it is real.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

So what? It’s their money – they don’t owe you an inheritance.

This is in response to the PP who keeps talking about how millennials are set to benefit from the biggest wealth transfer in history. This is not the case. Boomers will spend their money on a luxe retirement and then end-of-life care and there won't be any left for their children. We are not saying that we are entitled to an inheritance. We are arguing that there won't be one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a GenXer, my parents are both deceased and left me with nothing. I know I won't be getting an inheritance. Baby Boomers still won't retire, so I know I won't be getting a promotion. Millennials still won't stop complaining, so I know I won't be getting any Millennials to work for me.

Millennials don't have an understanding of what older people experienced in life because you just don't know any better. Your standard of living is based off of your Boomer parents standard of living. Colleges were redesigned for you to look like resorts. You were given endless supplies of free money for college, which you most likely will never pay back. You were on your parents health insurance until age 25.

Most generations before you did not grow up with the internet, cable tv, microwave ovens, trips all over the world, granite counter tops, and yes, avocado toast and $5 latte! LoL.

I like how the standard Gen X argument about generational differences these days is to accuse Millennial of complaining too much... while complaining.

We are tired of reading about it. I will complain about that. Oh, poor me, poor me.

Then don't read it.

The whining is ridiculous. You think Gen Xers never wrote about their experiences, sometimes complaining or comparing them to those of their parents? I'm sorry, can I introduce you to an entire genre of writing called "blogging" that was basically invented by and dominated by Gen Xers for an entire decade. And most blogging was confessional in style, essays about parenting, work, society, culture, and media. Some of those folks are still blogging, some have moved on to non-media jobs, some now have more traditional media jobs at this point. They were the original influencers and popularized the idea of becoming internet famous for having a point of view and opinions.

But yes, please tell me about how the occasional essay by a Millennial in their 30s about their lived experience is somehow too much. Or how ALL Millenials are rich and privileged because they will ALL inherit a bunch of money from their universally wealthy Boomer parents.

And then explain to me how Gen Xers, as a group, are amazing at suffering silently while Millenials are whiny. Because like many Gen Xers, I adore irony. But unlike you, I understand it.

I normally don't bother to read the whining. As for irony, I think millennials are in for a surprise regarding wealth transfer when their boomer parents kick off. Boomers will either spend every dime, donate it to some "worthy" cause, or attach crazy riders. Reverse mortgages make it is to transfer the wealth to someone and it isn't the millennial children.

Boomers' long term care will take whatever's left.

Yup. Honestly I just hope my parents have enough to not end up in a Medicaid bed at a sh-hole nursing home. They probably it will though. It’s going to be a rough road ahead for many families.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Good for them.

Of course it would be really convenient for me to inherit something from my parents, but guess what, they owe me nothing. How great that yours are enjoying their life.

You can't be serious to hear that story and think 'good for them'. It's very selfish of them, which I guess is good for them. The PP was clear that the money came from PPs grandparents, who probably didn't have a will, so it all went to PPs parents. If that story is true, PPs parents are incredibly selfish and poor stewards of THEIR parents bequest.

Honey, we notice you're the same resentful PP.

Enjoy your life, make your money if that's what you value so much.

We all notice how triggered you are, boomer

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a GenXer, my parents are both deceased and left me with nothing. I know I won't be getting an inheritance. Baby Boomers still won't retire, so I know I won't be getting a promotion. Millennials still won't stop complaining, so I know I won't be getting any Millennials to work for me.

Millennials don't have an understanding of what older people experienced in life because you just don't know any better. Your standard of living is based off of your Boomer parents standard of living. Colleges were redesigned for you to look like resorts. You were given endless supplies of free money for college, which you most likely will never pay back. You were on your parents health insurance until age 25.

Most generations before you did not grow up with the internet, cable tv, microwave ovens, trips all over the world, granite counter tops, and yes, avocado toast and $5 latte! LoL.

I like how the standard Gen X argument about generational differences these days is to accuse Millennial of complaining too much... while complaining.

We are tired of reading about it. I will complain about that. Oh, poor me, poor me.

Then don't read it.

The whining is ridiculous. You think Gen Xers never wrote about their experiences, sometimes complaining or comparing them to those of their parents? I'm sorry, can I introduce you to an entire genre of writing called "blogging" that was basically invented by and dominated by Gen Xers for an entire decade. And most blogging was confessional in style, essays about parenting, work, society, culture, and media. Some of those folks are still blogging, some have moved on to non-media jobs, some now have more traditional media jobs at this point. They were the original influencers and popularized the idea of becoming internet famous for having a point of view and opinions.

But yes, please tell me about how the occasional essay by a Millennial in their 30s about their lived experience is somehow too much. Or how ALL Millenials are rich and privileged because they will ALL inherit a bunch of money from their universally wealthy Boomer parents.

And then explain to me how Gen Xers, as a group, are amazing at suffering silently while Millenials are whiny. Because like many Gen Xers, I adore irony. But unlike you, I understand it.

I normally don't bother to read the whining. As for irony, I think millennials are in for a surprise regarding wealth transfer when their boomer parents kick off. Boomers will either spend every dime, donate it to some "worthy" cause, or attach crazy riders. Reverse mortgages make it is to transfer the wealth to someone and it isn't the millennial children.

Boomers' long term care will take whatever's left.

Yup. Honestly I just hope my parents have enough to not end up in a Medicaid bed at a sh-hole nursing home. They probably it will though. It’s going to be a rough road ahead for many families.

I hope my parents die quick. I hope I die quick. I know it's a balance but I'd rather die over the course of a few months at home, hopefully with some heavy duty pain meds, then slowly and lonely over the course of years in a crappy facility that exists solely to collect my Medicaid benefits and every last penny I might otherwise leave to my kids and grandkids.

Why are we spending so much money to keep people alive under conditions that we ourselves wouldn't tolerate? We need to totally rethink end of life care. We spend enormous amounts of money and for what?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:As a GenXer, my parents are both deceased and left me with nothing. I know I won't be getting an inheritance. Baby Boomers still won't retire, so I know I won't be getting a promotion. Millennials still won't stop complaining, so I know I won't be getting any Millennials to work for me.

Millennials don't have an understanding of what older people experienced in life because you just don't know any better. Your standard of living is based off of your Boomer parents standard of living. Colleges were redesigned for you to look like resorts. You were given endless supplies of free money for college, which you most likely will never pay back. You were on your parents health insurance until age 25.

Most generations before you did not grow up with the internet, cable tv, microwave ovens, trips all over the world, granite counter tops, and yes, avocado toast and $5 latte! LoL.

I like how the standard Gen X argument about generational differences these days is to accuse Millennial of complaining too much... while complaining.

We are tired of reading about it. I will complain about that. Oh, poor me, poor me.

Then don't read it.

The whining is ridiculous. You think Gen Xers never wrote about their experiences, sometimes complaining or comparing them to those of their parents? I'm sorry, can I introduce you to an entire genre of writing called "blogging" that was basically invented by and dominated by Gen Xers for an entire decade. And most blogging was confessional in style, essays about parenting, work, society, culture, and media. Some of those folks are still blogging, some have moved on to non-media jobs, some now have more traditional media jobs at this point. They were the original influencers and popularized the idea of becoming internet famous for having a point of view and opinions.

But yes, please tell me about how the occasional essay by a Millennial in their 30s about their lived experience is somehow too much. Or how ALL Millenials are rich and privileged because they will ALL inherit a bunch of money from their universally wealthy Boomer parents.

And then explain to me how Gen Xers, as a group, are amazing at suffering silently while Millenials are whiny. Because like many Gen Xers, I adore irony. But unlike you, I understand it.

I normally don't bother to read the whining. As for irony, I think millennials are in for a surprise regarding wealth transfer when their boomer parents kick off. Boomers will either spend every dime, donate it to some "worthy" cause, or attach crazy riders. Reverse mortgages make it is to transfer the wealth to someone and it isn't the millennial children.

Boomers' long term care will take whatever's left.

Yup. Honestly I just hope my parents have enough to not end up in a Medicaid bed at a sh-hole nursing home. They probably it will though. It’s going to be a rough road ahead for many families.

Same. My parents are also trying to set my SN brother who can't work up for financial stability, which is a HUGE issue for a regular MC family, but SS is truly poverty level. There's not going to be an inheritance and quite frankly people in our circles have never benefitted from them, this is such a weird rich people expectation to generalize to all millennials. But such is DCUM!

I have to say, I did expect to be able to reproduce my parents' standard of living, especially on 2 incomes instead of one, but have come up a bit short. We are doing better in terms of retirement and college savings than they say they were at our age (although I truly don't believe they're accounting for inflation), but at the cost of a significant amount of space in housing and land. We actually did the math once and it's just more than twice as expensive in relation to salary as it was in 1985.

[Anonymous]

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Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Good for them.

Of course it would be really convenient for me to inherit something from my parents, but guess what, they owe me nothing. How great that yours are enjoying their life.

You can't be serious to hear that story and think 'good for them'. It's very selfish of them, which I guess is good for them. The PP was clear that the money came from PPs grandparents, who probably didn't have a will, so it all went to PPs parents. If that story is true, PPs parents are incredibly selfish and poor stewards of THEIR parents bequest.

I agree, it's just selfish to take money from their own parents but not prepare to leave any to their own children. It would be a little different if it was all self-made money.

I'm convinced this board is full of rich retirees that hate their kids. Anytime inheritance pops up a whole bunch of boomers come out with "ITS NOT YOUR MONEY YOUR PARENTS DONT OWE YOU ANYTHING!!!!!!!!!"

[Anonymous]

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Anonymous wrote:There is something about millennials that went so wrong. Gen Z is better.

Um no. Gen z wants to copy millennials and all things 90s. They are some of the most self-absorbed weirdos I met.

The 90s belong to Gen X. Millennials were mere children then.

No, they copy millennials nonstop. They copy mostly the early 2000s fashion that was big with teens

If they are copying the 90s, they are not copying Millennials is my point. Frankly I don't care who they copy, but the Millennials weren't innovating anything in the 90s.

[Anonymous]

I am a millennial who feels these pains, but wow the people they featured such as the OBGYN is really out of touch. I think instead of asking for comments these journalists could go to a Costco or something and actually interview people who aren't their readers who actually are facing financial challenges . . .

[Anonymous]

Anonymous wrote:

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Anonymous wrote:

Anonymous wrote:As a Gen Xer who graduated into the recession of the early 90s and then endured the financial crisis I find the millennial attitude/ignorance that they are apparently the first generation ever to face economic hardship laughable. This generation has been feeding at their boomer parents trough all their lives is on track to receive the largest intergenerational transfer of wealth in history.

The largest intergenerational transfer of wealth in history occurred when the Greatest Generation who served in WWII passed their wealth to their Boomer children. The Baby Boomers, now in their 60s and 70s, squandered their children's futures. They did.

+1.

And just look at our escalating national debt. The boomers won't care if our country goes broke so long as their Social Security and Medicare is generously funded until they're dead.

Basically they're taking one last deep swig and then will toss the empty bottle to the younger generations.

And millennials are their children, so.
Yeah bc a $12M entry point for estate taxes (see: Boomers) in the wake of the longest bill market and lowest interest rates in history definitely is setting you up for serious deprivation.

This ALL benefiting boomers right now, not younger generations. They're the ones inheriting tax free, they are they ones riding the bull market into retirement, etc.

This. Some Millenials and Gen Z might inherit some of this wealth, but the vast majority likely will not. I know in our family, we are banking on nothing. My ILs pension and paid off home is going to pay for international travel and then will be channelled into end-of-life care -- we don't expect there to be anything left over. Maybe 40k or something that we would just funnel straight into our kid's college fund. My parents have more but they also have a lot more kids and grand kids and a history of very questionable financial choices.

+1000. My boomer parents recently inherited my grandparent's large house by the beach plus a million dollar nest egg. They could have lived in the beach house and/or run it as a family compound for the benefit of all. But what did they do? They immediately sold the house and liquidated the nest egg. They also keep bragging how they are flush now and 100% intent on spending it all on a gold-plated retirement. This could have been family wealth to help with future college for the grandkids or just to be passed down the generations. But no, they are laughing away the money as we speak on a round-the-world luxury cruise for the next 6 months. Can't make this up.

Why do you think you're entitled to any of that money? If your grandparents had wanted you to have the money, they'd have left it to you.