ChiefsPlanet Mobile
Page 3 of 7
< 123 4567 >
Patteeu Memorial Political Forum>Millennials Will Become Richest Generation In American History
BucEyedPea 04:32 PM 05-03-2021
As Baby Boomers Transfer Over Their Wealth
So stop ye'r whinin'. You will be able to pay off your college debt afterall. :-)

A study shows that Millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times. ...

There are approximately 618,000 Millennial millionaires, according to WealthEngine data, as part of a study compiled by real estate firm Coldwell Banker. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of Millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall between the ages of 34 and 37. Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon. Since the Millennial generation is smaller than the Boomers they're inheriting from, the wealth handed down will be highly concentrated. Ironically, this could contribute to increasing wealth inequality. [So will you still be for socialism or selfish and greedy capitalists?]

https://www.forbes.com/sites/jackkel...h=5fe9743a6c4b

[Reply]
Pawnmower 09:39 PM 05-03-2021
Originally Posted by cdcox:
Isnít this essentially the American dream? That our children do better than we do? I swear some of you can never be happy.
I was just about to ask ...

I always heard doom and gloom " the next generation will actually be poorer" ... but now we are getting even richer? isn't this good?
[Reply]
eDave 09:46 PM 05-03-2021
Originally Posted by Pawnmower:
my God youre so cool. no wonder you got to lick ck your best friends girlfriends pussy
I am cool. By design and good fortune. Fuck you.

You should read that thread and stop misrepresenting it like it's supposed to hurt me or something. Weird way to get your jellies.

Weren't you the guy making piece with everyone here after Patteau passed?

Fuck you, you disingenuous piece of filth.
[Reply]
cosmo20002 10:36 PM 05-03-2021
Threads about different generations are the most worthless threads on CP. Worse than any pete thread or BEP thread or anyone else, unless of course it is a 'generations' thread started by one of those two.
[Reply]
ChiefsCountry 08:17 AM 05-04-2021
Originally Posted by Bugeater:
The **** is this shit? Boomers aren't raising millennials, Gen X and Y are. That wealth has another generation to go through, and we can do some damage to it.
Millennials are kids born in the 80s and early 90s.
[Reply]
ChiefsCountry 08:19 AM 05-04-2021
Libs want 40% of that inheritance in taxes. So stupid.
[Reply]
tooge 10:20 AM 05-04-2021
Originally Posted by eDave:
No, yes, and no.

Many other things outweigh the alternative.
Well, too late. You shoulda considered how it might affect you rather than let hate for Trump dictate your future. You have kids? Grandkids? Want to leave them something? Too bad. Biden wants more of what you've worked hard for. Your kids can try to get free shit from him, so there's that.
[Reply]
tatorhog 10:32 AM 05-04-2021
Originally Posted by POND_OF_RED:
Always this. I worked at a very nice lodge in Montana and I met tons of wealthy people. The ones that had it handed to them were always the worst. We need to make some sort of law that you can only inherit so much money and try to close the gap on all these trust fund babies. All the left over inheritance can go to closing our gap on the trillion dollar debt hole weíve put ourself in. Itís absolutely idiotic to have millionaires who have never worked for shit.
Things usually have a way of working themselves out over time. I can think of a number of successful farming families in the area I live. As it got passed down to the kid, the kids were kind of like you mention. End of the day, they had their heads up their own asses so deeply they couldn't see their mistakes and they ended up selling off bits of ground to cover losses until it was all gone and they had to go to an 8-5 job making peanuts. This usually happened in just one generation too.

I can think of at least 3-4 names that immediately come to mind, and cumulatively, this would be thousands and thousands of acres. Just pissed away because they could do no wrong in their heads.

You don't really need the government to redistribute, you just need arrogance and stupidity. It'll work itself out.
[Reply]
Loneiguana 10:38 AM 05-04-2021
is anticipated to inherit over $68 trillion

End of life care laughs all the way to bank.

Estate Tax? Please. Healthcare is going to eagerly and easily eat up most of people's savings before they can pass it on.
[Reply]
Bob Dole 11:33 AM 05-04-2021
Originally Posted by tatorhog:
Things usually have a way of working themselves out over time. I can think of a number of successful farming families in the area I live. As it got passed down to the kid, the kids were kind of like you mention. End of the day, they had their heads up their own asses so deeply they couldn't see their mistakes and they ended up selling off bits of ground to cover losses until it was all gone and they had to go to an 8-5 job making peanuts. This usually happened in just one generation too.

I can think of at least 3-4 names that immediately come to mind, and cumulatively, this would be thousands and thousands of acres. Just pissed away because they could do no wrong in their heads.

You don't really need the government to redistribute, you just need arrogance and stupidity. It'll work itself out.
Wealth typically last 3 generations, unless there is a strong matriarch.

First earns it, seconds maintains it. The third has no concept of what it took, and blows it.
[Reply]
Discuss Thrower 11:51 AM 05-04-2021
https://www.linkedin.com/posts/alexb...570853378-kPgY
[Reply]
vailpass 11:52 AM 05-04-2021
Originally Posted by ChiefsCountry:
Libs want 40% of that inheritance in taxes. So stupid.
There should be no such thing as an inheritance tax. Flat out thievery.
[Reply]
BigBeauford 11:53 AM 05-04-2021
This article sucks, sorta, because the hypothesis is that Millenials will only become rich because of inheritance, not because there exists an environment that encourages them to make their own money through hard work and entrepreneurial endeavors. This is partly on the kids, partly on the parents, but mostly on the limited opportunities, particularly for the low skilled peeps who cant just walk into a manufacturing gig with limited education or training (like my parents did).Really, this paints a bleak outlook for my kids.
[Reply]
Discuss Thrower 11:56 AM 05-04-2021
Neoliberalism is not compatible with entrepreneurship.
[Reply]
Mr. Kotter 12:02 PM 05-04-2021
Originally Posted by BigBeauford:
This article sucks, sorta, because the hypothesis is that Millenials will only become rich because of inheritance, not because there exists an environment that encourages them to make their own money through hard work and entrepreneurial endeavors. This is partly on the kids, partly on the parents, but mostly on the limited opportunities, particularly for the low skilled peeps who cant just walk into a manufacturing gig with limited education or training (like my parents did).Really, this paints a bleak outlook for my kids.
Give up BB...your perceptive and accurate review of the article requires analytical skills that she doesn't possess. She needs it explained to her by some conspiracy nutjob for her to learn what her opinion is or is not.

:-)
[Reply]
Mr. Kotter 12:10 PM 05-04-2021
Originally Posted by ChiefsCountry:
Libs want 40% of that inheritance in taxes. So stupid.
We should feel sorry for some couple/single person inheriting nearly $11.7/$5.9 million tax-free, but who pay only on snything beyond that?

THAT is...so unfair! Imagine trying to survive on that for the rest of you life!

:-)
[Reply]
Page 3 of 7
< 123 4567 >
Up