I keep reading about how the boomers are going to be the biggest wealth transfer in history when they die, but all I’m hearing about in practice is boomers selling their assets and spending the money.
That’s because the “me” generation turned out to be total pieces of shit. Who would’ve guessed when they got that moniker AND had to be reminded nightly they had children to keep track of by the local news.
Everything else has gone up. The home being sold is going to be taxed, they’ll buy a condo someplace in a retirement community, and maybe they go in a nursing home or assisted living that will make sure to take every last dime in the old person’s account.
I keep reading about how the boomers are going to be the biggest wealth transfer in history when they die, but all I’m hearing about in practice is boomers selling their assets and spending the money.
Well technically, the wealth is being transferred…
Transferred, and concentrated
Or having it taken to pay for medical care and whatnot if they don’t.
That’s because the “me” generation turned out to be total pieces of shit. Who would’ve guessed when they got that moniker AND had to be reminded nightly they had children to keep track of by the local news.
Correct, spending the money. So, the game is to own companies where the boomers will spend money.
We all get to play one final game of Catch with our parents.
Everything else has gone up. The home being sold is going to be taxed, they’ll buy a condo someplace in a retirement community, and maybe they go in a nursing home or assisted living that will make sure to take every last dime in the old person’s account.