Counterpoint

Anonymous wrote:

Anonymous wrote:At my work, it’s GenX who are completely uninterested in taking over for boomers. When the boomers finally retired, we couldn’t even get GenX to apply for those jobs. So millennials stepped up en masse. They all just want to coast into retirement.

At my job, Gen X applies but millennials get picked. Skipping a generation…

So true

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

For some but I know some boomers who are in bad financial shape. They also could live another 20-30 years. I know a couple who have a lot but are in bad health in their late 70s and care is expensive. My silent gen in-laws are still alive in their late 80s and probably won't leave much behind. I expect they will live another 5-10 years.

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

Poor people don't pay much for college and don't have a wedding. They don't go to vacations or don't buy homes. If you did all this and had to scratch money together, that's on you. You became a consumer way before you had any money.
Some poor people have to help parents when teens, while you want brownie points for 'no family money'.
Avoiding your mistakes and your way of thinking about money, is much bigger help to your kids than handing them money.
Read your post again. It's written by someone with a poor mindset. Don't hand it down to your kids.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Oh please, Boomers fall for every financial scheme out there. Their Millennial and GenX kids are going to lose money after having the estate attorney wade through all the reverse mortgages, whole life policies, and losing real estate ventures.

I do wonder about that. DW's mother had a reverse mortgage for debt consolidation. The sale just covered the reverse mortgage.

Anonymous wrote:

Anonymous wrote:At my work, it’s GenX who are completely uninterested in taking over for boomers. When the boomers finally retired, we couldn’t even get GenX to apply for those jobs. So millennials stepped up en masse. They all just want to coast into retirement.

At my job, Gen X applies but millennials get picked. Skipping a generation…

You don't want any short timers who are only going to work another 5-10 years. Millennials will be around for the next 20-25.

Anonymous wrote:At my work, it’s GenX who are completely uninterested in taking over for boomers. When the boomers finally retired, we couldn’t even get GenX to apply for those jobs. So millennials stepped up en masse. They all just want to coast into retirement.

At my job, Gen X applies but millennials get picked. Skipping a generation…

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Oh please, Boomers fall for every financial scheme out there. Their Millennial and GenX kids are going to lose money after having the estate attorney wade through all the reverse mortgages, whole life policies, and losing real estate ventures.

why does everyone think Boomers are so old? I am a boomer, my wife is a boomer and all our three kids are Gen Z, and why do people think Boomers are dying when a lot of us parents are still alive.

This might shock you but Trump's Father in law and Mother in law are still alive. She could live another 40-50 years. Heck Al Pacino just had a kid at 85, The Silent Generation is still having kids.

Trump’s mother in law? You mean Melania’s mother? Didn’t she pass away a few years ago?

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Oh please, Boomers fall for every financial scheme out there. Their Millennial and GenX kids are going to lose money after having the estate attorney wade through all the reverse mortgages, whole life policies, and losing real estate ventures.

why does everyone think Boomers are so old? I am a boomer, my wife is a boomer and all our three kids are Gen Z, and why do people think Boomers are dying when a lot of us parents are still alive.

This might shock you but Trump's Father in law and Mother in law are still alive. She could live another 40-50 years. Heck Al Pacino just had a kid at 85, The Silent Generation is still having kids.

The youngest Boomers are in their 60’s, as are the oldest GenX.

which is young. I plan on running for President when I am 80.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Oh please, Boomers fall for every financial scheme out there. Their Millennial and GenX kids are going to lose money after having the estate attorney wade through all the reverse mortgages, whole life policies, and losing real estate ventures.

why does everyone think Boomers are so old? I am a boomer, my wife is a boomer and all our three kids are Gen Z, and why do people think Boomers are dying when a lot of us parents are still alive.

This might shock you but Trump's Father in law and Mother in law are still alive. She could live another 40-50 years. Heck Al Pacino just had a kid at 85, The Silent Generation is still having kids.

The youngest Boomers are in their 60’s, as are the oldest GenX.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Oh please, Boomers fall for every financial scheme out there. Their Millennial and GenX kids are going to lose money after having the estate attorney wade through all the reverse mortgages, whole life policies, and losing real estate ventures.

why does everyone think Boomers are so old? I am a boomer, my wife is a boomer and all our three kids are Gen Z, and why do people think Boomers are dying when a lot of us parents are still alive.

This might shock you but Trump's Father in law and Mother in law are still alive. She could live another 40-50 years. Heck Al Pacino just had a kid at 85, The Silent Generation is still having kids.

Anonymous wrote:

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Oh please, Boomers fall for every financial scheme out there. Their Millennial and GenX kids are going to lose money after having the estate attorney wade through all the reverse mortgages, whole life policies, and losing real estate ventures.

Anonymous wrote:Boomer here. We help our adult kids out because we don't want them to struggle as hard as we did (no family money on either side). Our parents did not pay for our college, weddings, vacations, home purchases, but somehow we scratched up enough to pay for it all ourselves. We were poor until midlife. I wish it hadn't been so hard back then, so we help our adult kids as we can.

There is going to be the greatest wealth transfer of all time when the Boomers die. Most of it will go to Millennials, but a lot will also go to GenX. But, the banks and government are already getting greedy to see how they can get a piece of the pie.

Every generation has faced different financial challenges, and depending on age/situation- they were either able to capitalize on that challenge or not.

Today, Gen Z is definitely facing a challenging time that is making it really tough for them. Systemic changes would help them and really should be a societal priority. AND, individual choices also matter.

What financial strain? Gen X is out attending all their concerts at $1k per seat. That's why all their favorite bands got back together like Bone Thugs, Boys II Men... hell even Slayer pulled in a ton of Gen X ticket sales.