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Dying Boomers rule (lemmy.ml)

submitted 8 months ago by [email protected] to c/[email protected]

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Article assumes Boomers won't spend it all before they die.

https://www.theguardian.com/money/2024/feb/28/millennials-richest-generation-wealth-property

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[–] [email protected] 11 points 8 months ago

thanks to the property assets accumulated by the generations before them.

These people have clearly never heard of reverse mortgage. So take what they have to say with large heapings of salt.

While they wait for their inheritances

LOL. Yeah these people are taking the piss here. Many of the folks I know with boomer parents that have already passed have seen roughly 90% to 96% of the accumulated wealth either taken in medical expenses, obligated debt, or just straight up poor ass planning that left the parents near penniless in their final days.

This whole story is predicated on ignoring massive costs that come at end of life that many boomers have not planned on. And one can easily objectively see then ignoring this by failing to account the massive upswing in reverse mortgages and filial responsibility cases.

The boomers are not giving us anything when they die except headache.