Reply to Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles

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Reply to "Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Well boomers own half the wealth of the country despite being only about 20% of the population.  I am not sure if this is unfair or not, but some aspects are clearly a zero/sum situation.  The more boomers have the less others have.[/quote]

When you have 40 years to build up net worth the odds are pretty good your share will be higher than someone who has only had 10 years. My parents, now deceased, certainly had more in their 70’s than I had in my 30s. Boomer wealth will trickle down to the next two generations unless their children hate them which many seem to on this site. [/quote]

No, except for the rich, boomers will spend their remaining money on themselves. And they’ll check out while leaving the entire country deeply in debt because of their policies. [/quote]

Who are all these rich people in their 60s and 70s ?

according to the Federal Reserve, the average retirement account balance for Americans ages 55 to 64 in 2019, the latest year for which figures are available, was $408,420. Of course that's a range, and it's not the expert-recommended balance.

If a 65 year old retires with $500,000 in retirement funds then of course they will spend it on themselves.   Medication, food, insurance, housing.    [/quote]

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