3 ms·

It is sort of interesting how Gen X is screwed here. Also the children of Gen X eg under 18s and younger Gen Z today.

by tempsy 3y ago

deleted 3y ago
[deleted]
sokoloff 3y ago
The Gen Z chart I think is particularly misleading. My kids are (young) Gen Z. When plotted on that chart, their likely inheritance is $0, because the later of the date of death of my wife and I is very likely be after 2045. So, it looks like they're screwed, but it's because the peak of the Gen Z chart is cut off on the right.
nappy-doo 3y ago
Gen X has always been screwed. There's never been enough of us to matter demographically. The boomers have us boxed in before us, and Gen-Y/Millenials after.
- Clubber 3y ago
  It will probably be good for GenX during retirement. Nursing homes, elder care and such will be much less burdened than they are now for the baby boomers.
  - jlokier 3y ago
    As far as I can tell, retirement for many gen X who didn't manage to get a property and won't inherit means poverty and homelessness unless they can miraculously keep high-paying work to cover the cost of rent until they die. Their too small pension won't cover the rent by then because rent has risen and is still rising much faster. Nursing home? They can't afford long term stay due to lack of assets, but what about the decade or two after retirement age when a nursing home wouldn't be appropriate anyway? Seems to me the renting-class gen Xers approaching retirement are just going to have to keep working long past retirement age, while it gets more and more difficult, and their housing stays precarious because they can't get a mortgage due to age. I think this is a hidden, underappreciated issue because people tend to think of property-owning gen Xers with a paid-off mortgage, and don't realise how many gen X never made it onto the property ladder.
    - Clubber 3y ago
      I was specifically talking about the cost of elder care when GenX hits their 70s and 80s due to supply and demand, the demand being lower since GenX is a much smaller generation than the baby boomers. You went down a rabbit hole. If you are a GenX and you are still renting, you're gonna have a rough time, unless you move to a much lower cost of living location upon retirement.
gedy 3y ago
Worse is some younger folks are lumping anyone over 50 into "boomers". Sorry I'm Gen X and we certainly didn't have it easy.
bluedevil2k 3y ago
I don’t think the chart is showing that Gen X is screwed at all. It’s just showing that as the Baby Boomer gen dies off, the inheritance will reach an inflection point. It’s looks bad compared to Millennials because the passed down wealth from the Boomers and the accumulated wealth from Gen X will compound into HUGE inheritances for Millennials. At some point, beyond the chart’s X-axis, it’ll start trending down too.
nevermindiguess 3y ago
[flagged]

It is sort of interesting how Gen X is screwed here. Also the children of Gen X eg under 18s and younger Gen Z today.

by tempsy 3y ago

It is sort of interesting how Gen X is screwed here. Also the children of Gen X eg under 18s and younger Gen Z today.

deleted 3y ago

[deleted]

sokoloff 3y ago

The Gen Z chart I think is particularly misleading. My kids are (young) Gen Z. When plotted on that chart, their likely inheritance is $0, because the later of the date of death of my wife and I is very likely be after 2045. So, it looks like they're screwed, but it's because the peak of the Gen Z chart is cut off on the right.

nappy-doo 3y ago

Gen X has always been screwed. There's never been enough of us to matter demographically. The boomers have us boxed in before us, and Gen-Y/Millenials after.

Clubber 3y ago
It will probably be good for GenX during retirement. Nursing homes, elder care and such will be much less burdened than they are now for the baby boomers.
- jlokier 3y ago
  As far as I can tell, retirement for many gen X who didn't manage to get a property and won't inherit means poverty and homelessness unless they can miraculously keep high-paying work to cover the cost of rent until they die. Their too small pension won't cover the rent by then because rent has risen and is still rising much faster. Nursing home? They can't afford long term stay due to lack of assets, but what about the decade or two after retirement age when a nursing home wouldn't be appropriate anyway? Seems to me the renting-class gen Xers approaching retirement are just going to have to keep working long past retirement age, while it gets more and more difficult, and their housing stays precarious because they can't get a mortgage due to age. I think this is a hidden, underappreciated issue because people tend to think of property-owning gen Xers with a paid-off mortgage, and don't realise how many gen X never made it onto the property ladder.
  - Clubber 3y ago
    I was specifically talking about the cost of elder care when GenX hits their 70s and 80s due to supply and demand, the demand being lower since GenX is a much smaller generation than the baby boomers. You went down a rabbit hole. If you are a GenX and you are still renting, you're gonna have a rough time, unless you move to a much lower cost of living location upon retirement.

gedy 3y ago

Worse is some younger folks are lumping anyone over 50 into "boomers". Sorry I'm Gen X and we certainly didn't have it easy.

bluedevil2k 3y ago

I don’t think the chart is showing that Gen X is screwed at all. It’s just showing that as the Baby Boomer gen dies off, the inheritance will reach an inflection point. It’s looks bad compared to Millennials because the passed down wealth from the Boomers and the accumulated wealth from Gen X will compound into HUGE inheritances for Millennials. At some point, beyond the chart’s X-axis, it’ll start trending down too.

nevermindiguess 3y ago

[flagged]