spin_dry Posted June 25, 2019 Share Posted June 25, 2019 Baby boomers, the richest generation in history, are aging and preparing to pass down a record-breaking amount of assets. Nearly 45 million U.S. households will hand down about $68.4 trillion over the course of the next quarter-decade, according to research and consulting firm Cerulli Associates, a phenomenon known as the “great wealth transfer.” Of that $68 trillion, Generation X – those born between about 1965 and 1980 – stands to gain the largest share of that wealth at 57 percent. Millennials are also expected to get a sizable chunk – the cohort surpassed baby boomers as the largest living generation during recent years, though the latter is still the richest. Baby boomers control at least 70 percent of all disposable income in the U.S. This unprecedented shift in assets could have profound effects on the economy. Unlike their elders, millennials, specifically, have different economic priorities and experiences, which have shaped how they invest. “Millennials are very community-oriented,” Mary Ellen Hancock, vice president and senior wealth strategist at PNC Wealth Management, told FOX Business, adding that there could be an increased amount donated to charities as a result of the wealth transfer. Millennials, the majority of whom grew up during the Great Recession in the late 2000s, are also wary of the stock market, Hancock said, which means they could pull some of their inherited assets out and invest elsewhere. However, for those that choose to stay invested in stocks, the makeup of their portfolios could differ from their predecessors’. Hancock said companies or sectors that may have thrived while baby boomers controlled the majority of the wealth may not fare as well when millennials control the cash. Tobacco companies, for example, are an area where socially-conscious younger Americans may be more hesitant to invest. Green energy companies, on the other hand, could become more popular as climate change remains a top area of concern for the younger generation. Companies that dominate the online marketplace are also poised for a potential boost. For those looking to pass down assets, pieces of the new tax law have changed the treatment of trusts, which could make it necessary to alter plans. Hancock said people may want to consider the type of trusts they utilize, especially now that state and local tax deductions have been capped at $10,000. Quote Link to comment Share on other sites More sharing options...
Zambroski Posted June 25, 2019 Share Posted June 25, 2019 It sounds like many will be able to finally put their money where their mouth is and help out the people and ideals they claim to champion for constantly. Nawwww..... Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 (edited) $1.52 million ave per boomer? Seems a bit high. This whole time we've been told they couldn't survive without SS. I know much of it is concentrated but still seems a bit high. Edited June 25, 2019 by Highmark Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 2 minutes ago, Highmark said: $1.52 million ave per boomer? Seems a bit high. This whole time we've been told they couldn't survive without SS. I know much of it is concentrated but still seems a bit high. Well it is a Fox News article. So you’re most likely right. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 4 minutes ago, Zambroski said: It sounds like many will be able to finally put their money where their mouth is and help out the people and ideals they claim to champion for constantly. Nawwww..... Those that slam boomers are practicing the same type of bullshit. Gen x, millennials. There’s no difference. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 Just now, spin_dry said: Well it is a Fox News article. So you’re most likely right. Embarrassed to show you read/watch FoxNews and post a link. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 Just now, Highmark said: Embarrassed to show you read/watch FoxNews and post a link. If I did that then you’d be doing your typical fawning all over it. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 Just now, spin_dry said: Those that slam boomers are practicing the same type of bullshit. Gen x, millennials. There’s no difference. American boomers have created more wealth for more people than any country in the history of the world. This has helped reduce poverty all over the world. Yes there is still significant poverty worldwide but its continued to improve decade after decade. The US is still BY FAR the most generous country......including boomers. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted June 25, 2019 Share Posted June 25, 2019 (edited) see anler is right, if the boomers would all just kill themselves it would be a tremendous boost for this country. saves SS and medicare and the wealth passed down can be better spent by millennials than the selfish boomers. Edited June 25, 2019 by Angry ginger Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 2 minutes ago, Highmark said: American boomers have created more wealth for more people than any country in the history of the world. This has helped reduce poverty all over the world. Yes there is still significant poverty worldwide but its continued to improve decade after decade. The US is still BY FAR the most generous country......including boomers. Well then, everything is just fucking roses. Other than the magnitude of human destruction and disruption from America’s favorite pastime. War. Quote Link to comment Share on other sites More sharing options...
racer254 Posted June 25, 2019 Share Posted June 25, 2019 How did this happen? I thought wages have been stagnant over that last 50 years ... according to some here. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted June 25, 2019 Share Posted June 25, 2019 All the crybabies are out this morning I see. 1 Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 Just now, DriftBusta said: All the crybabies are out this morning I see. Priceless coming from the acknowledged biggest internet victim of the last 20 years. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted June 25, 2019 Share Posted June 25, 2019 Just now, Jimmy Snacks said: Priceless coming from the acknowledged biggest internet victim of the last 20 years. Pfffft. Victim is making every excuse in the book that despite a college education, you’re a painter who never seems to have any work. 1 Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted June 25, 2019 Share Posted June 25, 2019 1 minute ago, spin_dry said: Well then, everything is just fucking roses. Other than the magnitude of human destruction and disruption from America’s favorite pastime. War. boomers once wanted to stop war, then they became more concerned during the Reagan years about driving BMW's and then blowing up brown people just like their parents. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 1 minute ago, Angry ginger said: boomers once wanted to stop war, then they became more concerned during the Reagan years about driving BMW's and then blowing up brown people just like their parents. The current crop of non boomers want the same. ‘cept they drive F150’s for haulin 2x4’s. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted June 25, 2019 Share Posted June 25, 2019 1 minute ago, spin_dry said: The current crop of non boomers want the same. ‘cept they drive F150’s for haulin 2x4’s. most of those are boomers as well. as i have said for a long time it's going to take the millennials to change this country. but reality of the fact is they will start making some jing and probably follow suit of my gen and the boomers anyways and keep the spiral going. Quote Link to comment Share on other sites More sharing options...
Edmo Posted June 25, 2019 Share Posted June 25, 2019 1 minute ago, spin_dry said: The current crop of non boomers want the same. ‘cept they drive F150’s for haulin 2x4’s. Looks like that bmw comment hurt someone’s feelings. You take that back! Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 (edited) 6 minutes ago, DriftBusta said: Pfffft. Victim is making every excuse in the book that despite a college education, you’re a painter who never seems to have any work. Who is making excuses and I’m at work everyday...you’re posting during the day so you must not have work...right. BTW it might not be glamorous but its pays the bills and I have been doing it for years...how many jobs and wives have you gone through in that time? Edited June 25, 2019 by Jimmy Snacks Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 Just now, Edmo said: Looks like that bmw comment hurt someone’s feelings. You take that back! I love my BMW. Very fine piece of machinery. Long live the M car. Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted June 25, 2019 Share Posted June 25, 2019 2 minutes ago, Jimmy Snacks said: Who is making excuses and I’m at work everyday...you’re posting during the day so you must not have work either. BTW it might not be glamorous but its pays the bills and I have been doing it for years...how many jobs and wives have you gone through in that time? funny woolie pumped shitters after getting a degree and acts like he's some entrepreneurial hero but shits on you for being a self employed painter End of the day if your taking care of your family WGAF at what you do to make that happen. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Jimmy Snacks Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 Just now, Angry ginger said: funny woolie pumped shitters after getting a degree and acts like he's some entrepreneurial hero but shits on you for being a self employed painter End of the day if your taking care of your family WGAF at what you do to make that happen. Exactly and I was thinking about his shit pumping career as I was posting...he really is lacking in the self awareness department. Quote Link to comment Share on other sites More sharing options...
spin_dry Posted June 25, 2019 Author Share Posted June 25, 2019 2 minutes ago, Angry ginger said: most of those are boomers as well. as i have said for a long time it's going to take the millennials to change this country. but reality of the fact is they will start making some jing and probably follow suit of my gen and the boomers anyways and keep the spiral going. Millennials have a lot of great ideas. Unfortunately they’re looking at massive wealth and power disparity issues in American society. That has the potential to create a strong movement towards socialism with elements of communism. Wealth distribution. I don’t agree with it, but it’s the natural reaction to being on the asshole end of the wealth disparity spectrum. Quote Link to comment Share on other sites More sharing options...
DriftBusta Posted June 25, 2019 Share Posted June 25, 2019 Just now, Jimmy Snacks said: Who is making excuses and I’m at work everyday...you’re posting during the day so you must not have work either. BTW it might not be glamorous but its pays the bills and I have been doing it for years...how many jobs and wives have you gone through in that time? Who are you trying to kid? If you had a shred of ambition you’d get a real job and wouldnt drive a 20 year old rusted out piece of shit. I’ve created, bought and sold several companies and made six figures at most of them. Wtf have you done exactly other than run your mouth alot and post up movie clips? 2 minutes ago, Angry ginger said: funny woolie pumped shitters after getting a degree and acts like he's some entrepreneurial hero but shits on you for being a self employed painter End of the day if your taking care of your family WGAF at what you do to make that happen. Yeah it is funny. I bought the company and returned my original investment 6 fold after selling it to the largest waste hauling company in the country 5 years later, like a normal entrepreneur does. I shit on him because he’s an asshole with a big fucking mouth. Kind of like you. Put your own wealth on the line several times like I have and then you two clowns can come talk to me. Quote Link to comment Share on other sites More sharing options...
Platinum Contributing Member Highmark Posted June 25, 2019 Platinum Contributing Member Share Posted June 25, 2019 38 minutes ago, spin_dry said: Well then, everything is just fucking roses. Other than the magnitude of human destruction and disruption from America’s favorite pastime. War. Yeah the democraps have cost us 20x's more lives than anyone else. Korean War, Vietnam....... Quote Link to comment Share on other sites More sharing options...
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