There is no way that capital isn’t going to devour our parents’ money and savings, almost certainly via medical bills. It’s not realistic to expect to inherit anything at all. That money is going straight to the Cayman Islands. Either that, or it’ll be gambled on A.I. or some other meme stock.

Cool story. Wonder how much of that wealth will be seen by the vast majority of millenials.

Very nice average figures! Now let's see median.

after hearing many disaster stories from my GenX colleagues about their own parents' decline, my sister and i approached our well-off boomer parents years ago, articulating a plan to take care of them as they entered their dotage. they had spent the last 15 years doing their retirement on their 24-7 travel and treats. so, sib and i thought a general consolidation of our resources and energy into a single, multigenerational household with a pleasant climate, a nice garden and walkability to things would be a cool move. my sibling and i have a little savings, graduate degrees, and stable jobs, though we are not near to each other. we are fortunate that we can probably relocate and find work in some affordable places, but without a little of our parents wealth we could never hope to afford something functional and comfortable for everyone.

considering all the predatory organizations out there fleecing older people and the boomer desire to see us and their grandkid more, it seemed like win/win. neither of us minded the idea of taking care of our parents and living in a big chaotic household, given the time and material security necessary. sure, we would drive each other crazy sometimes, but that's family. and there would be enough of us to share the burden.

well last year, after they had agreed and let us think we were all working towards this project for years, the boomers pulled out the rug and said they are going to continue to shamble themselves onto all the big treat boats all year and keep their giant money pit mcmansion in their friendless, CHUD-filled malarial zone, and they would not be a part of this. there would be no sunset years together. they believe, despite the mounting evidence of their enfeebled confusion and many low paid workers in their wake, that they are independent and self-reliant and the party will not be stopping. because, unlike their parents at this age, they will not be turning over the reigns. they want to continue to make all the decisions unilaterally. like the decision to not shower for 6 days. or the decision to clog a toilet and not tell anyone.

so now my sib and i are scrambling to figure out our own plan B, while waiting for the day where we get the call that they've been ripped off by some scumbag, that they've lost everything, they are stranded somewhere insane, and we need to take vacation time off immediately to come collect them and insert them into whatever crappy nursing home we can find, because neither one of us has room to take them in, the money to afford those places, let alone the time to look after them.

so despite our best efforts to be a proactive and communicative family, this is going to go down just like it will for every other dipshit old timer that is too busy pretending like their 70s are the new 50s, unable to see the brick wall they are careening towards. i've committed to never feeling guilty about whatever crap situation they end up in, because we offered to help them and they turned us down.

Last figures I saw was we own 4% of wealth, and of that 4% Mark Zuckerberg owns 2%.

Generational transfer of wealth largely built up in property will amount to $90tn in US alone, report says

"If boomers give their children all of their wealth, those children will have more money than their parents."

This doesn't benefit millennials without wealthy parents, of course, but we're discussing wealth in the millennial generation, not wealth of the millennial generation

Riddle me this guardian, what do you think will happen to mcmansions built in the 80s in 40 years

"generational transfer of wealth" aka "our parents dying and leaving us their shit."

Problem is, as I think we're going to find out over the next two decades, that millennials don't necessarily have the resources to keep what they might inherit. You might inherit a house, but is your paycheck large enough to cover the taxes and upkeep? Will you be able to get a loan to fix the foundation problems that developed rapidly on the property because your state got more rain in the last two years than it did in the last decade because of climate change? If you sell the house to move somewhere cheaper, who is more likely to buy it - an actual homeowner, or a landlord?

A friend of mine from college went through all this already. I'm very doomer on the prospect of inheritance after seeing that shit play out.

Lies, damned lies, statistics, and whatever this bulllshit is.

Generational transfer of wealth

Generational transfer of monetary inflation to failchildren.

literally dependent on all the boomers dying

Pictured: The idiocy of generational politics as a substitute for class politics.

"If most people are struggling to get by and a handful of guys have hoarded enough wealth to make a pharaoh blush then there's no problem because people are wealthy on average." <-- This is what liberals actually believe.

A super small proportion of rich millennials and landleech spawn are set to become the wealthiest group of people in history.

Who? Where? My parents have never owned anything except a car maybe, they will likely rent until they die.

Good news for half of my friends who had to move back in with their parents

No we are not. The healthcare system will see to that as it has eaten away at my dual pensioned grand parents and my crap-it-all-ist loving only one of the two semi pensioned parents are now paying their dues and sanity dealing with it as they enter retirement. Whatever is left gets split and inflation will also destroy whatever value there is out of that.

Gen X, Alpha. There's nothing left even with the less children. We had a chance to do healthcare better. Shillary saw that didn't happen. It didn't happen under Biden either. So we're doomed. And by the time this cold war sizzles finally around 2040 or so they'll invent a new false flag global conflict to deny us yet again a peace dividend.

My shock when capital accumulates, only to be inherited. Line go up.

1981 and 2000

This "generation" thing confuses me so much, I thought it was like until 1996 or something? So made up and pointless.

me waiting impatiently for everybody in my family to die so that I can inherit their wealth

I save ~20% of my salary, trending downward due to inflation and a lack of raises, which I imagine to be quite a lot more than average for my position because I refuse to spend money if I can help it. I used to save close to 50% until my parents kicked me out, because I spent $0 on rent. And yet, after ~15yrs in decent-paying, full-time jobs since college, I still cannot afford to buy a 1BR apartment. When my parents die, I will inherit the equivalent of 40 years of this saving from selling their house (assuming property values rise with inflation (they'll almost certainly outpace it by quite a bit), my siblings don't die first, etc).

On track to become wealthy!

Edit: read the "article".

Study done by a real estate agent Property, financial investments and cars were among the most significant sources of wealth, the Knight Frank study found. Among smaller items, the report found that the market for secondhand bags had eased, while the fine wine market grew marginally and sales of watches at the three big auction houses totalled £488m in 2023, a slight increase on the year before. At the high end, Canadian rapper Drake paid $1m for a ring formerly owned by the late Tupac Shakur at Sotheby’s hip-hop auction last July.

for everyone buying "secondhand bags", fine wine, $1M rings, and luxury cars.

I think in the US we are going to quickly find that the inflated prices of housing reflect the evergreen wealth of stolen land, not of the houses that were shoddily built on them. In my experience, people do as little as possible to take care of their homes and after 30 years of negligence and bandaids, it shows. What’s the point of having land that costs a ton in taxes if the house built on it is in shambles? Just another debt trap to pay for repairs.

My parents’ home will likely be seized by whatever nursing home they end up at to cover their end of life costs