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Reply to "Why do people think Boomers had it so good?"
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[quote=Anonymous][quote=Anonymous]It's interesting that the silent generation (age 80+) still have more wealth than the Millenials. There's going to be a huge wealth transfer from the Boomers and Silents to Millenials and GenX over the next two decades.[/quote] I hope so. I worry that the elder care industry and other grifters will try to get it first. Wealth transfer between generations is a positive thing -- it generally leads to higher quality of life and can spur investment and entrepreneurship. I wouldn't tell a Boomer to avoid taking a bucket list trip or live in a hovel to ensure they can leave more to their kids but I would assume most people with real wealth want to leave at least some of it to future generations. For me that's part of the point of building up some wealth -- so that when I die I know my kid and grandkid will have it as a safety net and might actually do some good with it.[/quote]
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