Reply to The divide gets bigger as you get older...

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

The "Great Wealth Transfer" isn't even close to happening. The boomer parents are now inheriting their parent's wealth. The millennials won't see that money for 10 - 20 + years. Once that happens it will further exacerbate this divide. 
[/quote]
I doubt you'll see this money. It will be given to expensive long term care facilities and sent to Indian scammers.[/quote]

Nah. The smart boomers like my in-laws bought Cadillac LTC policies for peanuts. They are sitting on about 20mil and growing because they spend less than the income they make each year + social security. We are also big savers on top of what we get from them, and we only had two children so they too will see a large inheritance. [/quote]

Right - both my parents and my in-laws have meaningful assets and live well below their levels (Only taking 2-3% from their portfolio to live off). They both also have fantastic LTC plans and work with a full service independent advisor that will assist in the LTi claims process.

Obviously we have no idea where life will take us but hopefully they stay healthy! I'll take them living until 120 and spending down their assets any day of the week..[/quote]

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