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Money and Finances
Reply to "Boomers' Billion-Dollar Bonanza: The Unseen Hoarding Behind Millennial Struggles"
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[quote=Anonymous]The boomers will need the money to pay for assisted living and end of life care unless they bought LTC policies many years ago. This in itself is a gift to their children provided they have enough to cover everything. I watched my parents go through this with my grandparents- one set had very little money and eventually ended up in Medicaid beds, was a very stressful situation. My other grandmother was well covered due to savings/LTC, there wasn't much left by the time she passed on in her mid-90s but the peace of mind that she was well taken care of was priceless. For most, the wealth will simply get transferred to industries, not kin.[/quote]
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