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Older Americans Stockpiled $35T. The Time Has Come to Give It Away
- thatfrenchguy 5y agoThis is bringing us to the same issue that pre-WW2 European countries had: people inheriting too much money from their parents stunting growth for everyone.
- theandrewbailey 5y agoThis doesn't mean that every boomer is a millionaire. Many YOLO'd their way through life and are in debt up to their scalp.
- HWR_14 5y agoThere seem to be two reasonable ways to die financially. With sufficient financial assets that you've set up you descendants in a beneficial way -or- in the maximum amount of debt you can incur. The middle ground, neutral with a very small bequest to your descendants seems like the worst
- dumbfoundded 5y agoDebt won't be great if your spouse outlives you.
- atatatat 5y agoMarrying is for chumps, if you're racking debt.
- deleted 5y ago[deleted]
- mrtweetyhack 5y agoBurn it
- google4545 5y agoNancy Pelosi, Joe Biden, and Mitch McConnell were all alive when Adolf Hitler was in power.
- ngcc_hk 5y agoIt will pass down. Gov tax, social charity, bloodline, … the question how to make it better … communist approach never work. Hope those individuals directed more to better clause as many endowment did. Or else …
- akomtu 5y agoThe top 1% is saying it's the 70 year olds who have absorbed all the wealth. Let me drop an inconvenient chart here: https://fred.stlouisfed.org/series/WFRBST01108 https://fred.stlouisfed.org/series/WFRBST01108 Here's another chart - net worth of top 10% excluding the top 1%, basically folks who have millions in assets, but aren't quite rich yet. Even they have lost during the recession. https://fred.stlouisfed.org/series/WFRBSN09161 https://fred.stlouisfed.org/series/WFRBSN09161