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]

Yup. My FIL passed away last year and my DH manages his mothers finances. Blonder are planners. She had LTC insurance, a whole life plan, and a handful of rental properties that are all paid off. Not to mention their retirement nest egg. Between him and his 2 other siblings they will each walk away with mid 7 figures when she passes. Now that my FIL passed away all she manages to spend each month is her SS and modest pension. All profits even from the rentals sit in an investment account that has been growing for decades. [/quote]

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