It's less about wealth of the oldest generation and more about the fact that we don't have a good replacement rate from reproduction or immigration. Birth rates

It's less about wealth of the oldest generation and more about the fact that we don't have a good replacement rate from reproduction or immigration. Birth rates around the world are not even at replacement rates. The entire retirement system is built on the idea that younger workers will chip in to pay for the elderly, but...we can't do that at scale, because there won't be enough people. There are still a lot of older poor people now, and caring for them and end of life care is incredibly expensive. Even "rich" people now will be poor by the time they die, especially in the US. A huge portion of US inheritance will evaporate paying for parents aging.