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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Boomers don’t want to die. They’ll spend their last millions eking out a couple extra miserable months in for-profit nursing homes.

No wealth transfer for you, sorry young’uns! Your parents’ ill-gotten gains went straight into the hands of Capitol Seniors Retirement Group, Inc.! [/quote]

You know, there are a lot of lower income people who work taking care of elderly people. I don’t have a problem with them getting some of that “wealth transfer.”
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But they by definition will not get the wealth transfer. They re low-income. They will be paid the bare minimum to do the hard work of caring for people in the last years of their life, and then investors in corporate nursing home chains will reap the rewards. The nursing home aides will continue to be unable to buy a home because they don't make enough money to compete with the all-cash buyers snapping up homes to flip or sit on as an investment.

No one is getting rich working at a nursing home. I wish they would! It's really hard, valuable work that is totally devalued in our society, like almost all forms of care work.[/quote]

Not everyone wants to “get rich.” Some people just want to earn a living doing honest work.

People who work nursing home type jobs earn salaries that include benefits. As more boomers age and need care, more such workers will be needed so supply and demand will have an effect on salaries. If the boomers were to die off early, those jobs wouldn’t exist, so fewer people would earn those salaries.

And there’s a wide range of jobs and salaries involved at nursing homes.  Medical professionals, physical and occupational therapists, food preparation, cleaning- all are necessary and openings will increase in number as people age.

I think some people just want the boomers to pass on their money to their adult kids, and don’t want anyone else to earn some money from their parents. They’re mad because they won’t get it all for themselves. 
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I am not expecting anything from my boomer parents. They are so bad with money it isn't funny--it will all go to end of lifecare.

I think what boomers don't understand is all the generations are angry about their decisions about the country--we have no pensions, no single-payer health care, underfunded schools, a climate mess. They had such a chance to do good in the world and instead we had Wall Street greed in the 80s and strange sex-obsessed politician hunts in the 90s and then they all got brainwashed by Fox News and YouTube. I want a better world for my children. My parents want to burn it all down. [/quote]

Your parents are in no way typical for people of their age. [/quote]

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