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Millennials Will Become Richest Generation In American History

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posted on Nov, 17 2019 @ 03:03 AM
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originally posted by: Xtrozero

originally posted by: hopenotfeariswhatweneed


The system for profit will always find a way to take every cent that they can, your kids will likely find that out the hard way as our family did.


I will not live long enough to worry about that... To me there is quality of life and on machines drooling is not it.




Here's the catch, once signed over to that care the decision to terminate belongs to the institution.



(post by spacemonk removed for a manners violation)

posted on Nov, 17 2019 @ 05:32 AM
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originally posted by: EternalSolace

originally posted by: Xtrozero

originally posted by: Peeple

I seriously doubt that. Because they'll get a lot older than any other generation before they'll spend more on medical bills. And they'll have to hire caretakers and possibly will still have to move into retirement homes because the millenials surely won't change the diapers of their 90+ parents.
And especially in a free market it's kind of business as usual to strip the elderly of their last cent.


I got nothing from my parents and my two kids will get a few million, sound legit to me... I'm not far from middle class BTW...




How does inflation help? That means your money loses value over time...


Doubles every 20 years blah blah blah... We get it...


Sounds like your folks hate you....

They didn't have money so they hate him?



posted on Nov, 17 2019 @ 05:34 AM
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a reply to: hopenotfeariswhatweneed
I agree. There are a few assisted "homes" near me and the average cost is approx. £1000 a week. To you Americans that's about $1290 a WEEK. When the "patient" gets gaga (or the "home" decides they are) they get them to sign a document called "power of attorney" ,that gives them total control of their money.



posted on Nov, 17 2019 @ 05:36 AM
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originally posted by: hopenotfeariswhatweneed

originally posted by: Xtrozero

originally posted by: hopenotfeariswhatweneed


The system for profit will always find a way to take every cent that they can, your kids will likely find that out the hard way as our family did.


I will not live long enough to worry about that... To me there is quality of life and on machines drooling is not it.




Here's the catch, once signed over to that care the decision to terminate belongs to the institution.

Why do you think that? His kids would have his healthcare PoA. Or he could have a living will.



posted on Nov, 17 2019 @ 06:01 AM
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a reply to: StoutBroux

LMAO you millenium's and your wild ass story's,the world is set for 1 world government,think communism it's already started will be in place by 2021 dream on



posted on Nov, 17 2019 @ 06:19 AM
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a reply to: MisterSpock

Don't want to pass on that problem to mine.

I have given mine 100 times what I inherited. The ball is now in their court.

Call me mean, call me selfish, call me deplorable, I am spending the rest.

At least the tears at my funeral will be genuine. I will not burden them by leaving any of it behind.

All the "stuff" I want then to have, I have already given to them.



posted on Nov, 17 2019 @ 06:25 AM
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As a home health aide who's seen what happens when people get older, I find this very unlikely. Most of this money will go to the state and medical bills along with any house they might own.



posted on Nov, 17 2019 @ 06:26 AM
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Lets hope so, every generation should be richer than the past, otherwise we are moving backwards, they should be richer in culture, richer in diversity, richer in happiness, richer in solidarity, richer in mind and richer in wealth

Why anyone would want their own children to suffer more than them is a mystery to me



posted on Nov, 17 2019 @ 06:39 AM
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I made a similar point in another thread about the 600,000+ millionnaire millennials, not realising there was already a thread about it. My point was that whilst there is clearly richer millennials now, the majority of millennials will be working the usual low-paid jobs that are required for any successful economy. They will be working as hard as the people before them, but unlike the people before them will be priced out of important commodities for living (housing, education etc). If people can't afford to live despite working 40 hours per week I think that's a problem.



posted on Nov, 17 2019 @ 06:43 AM
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a reply to: twfau

It doesn't matter, if even a single person succeeds the system works and nothing is broke. At least that seems to be what many think. It doesn't matter how many people are struggling so long as even one person can get theirs. Only the people that succeed count. Everyone else is a worthless, lazy, piece of #.
edit on 11/17/2019 by Puppylove because: (no reason given)



posted on Nov, 17 2019 @ 08:12 AM
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originally posted by: Xtrozero

originally posted by: Stupidsecrets
A millionaire is about average today. It's not that much money. It's almost laughable as being wealthy because a nursing home, where most of them will go, will cost that much in a few years of care and housing. Bottomline; there won't be some massive wealth transfer. People are living longer then they stick their loved ones in a nursing home if they become a problem. I have seen this happen many times is the past decade with family and friends. The article is stupid and leaves out what will be done with the money when they die in many cases. It's going to nursing homes and care givers.


Full good care is about 50k per year... 20 years = 1 million. That's a lot of years for someone in full care... just saying


It's more than 50K. You are leaving out medical costs. All of them are on medication, need constant medical attention. I was talking to a relative a few days ago about this topic. Their grandmother blew through about 3 million at a nursing home in a span of about 8 years. They thought she was set for the rest of her life. All the money is gone.

This article skips over this entire aspect. Most won't inherit that much under these conditions. People are living much longer today with medical advances. These nursing home operations are also in business to make money. Way to do that is keep people alive as long as possible and those rooms filled. It's easy money.

You watch, in about 10 years there will be articles on the outrageous costs of care for all these baby boomers and how all their inheritence is being wiped out.



posted on Nov, 17 2019 @ 08:26 AM
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Millennials Will Become Richest Generation In American History

Between the death tax and the Warrens.

This won't come to pass.



posted on Nov, 17 2019 @ 08:58 AM
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a reply to: neo96

I see Quitest being an over the counter purchase in the future.

Between the cost of healthcare, and the lack of life quality, I see us old folk bugging out in a way we didn't prepare for.
edit on 17-11-2019 by NightSkyeB4Dawn because: (no reason given)



posted on Nov, 17 2019 @ 09:41 AM
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a reply to: StoutBroux


Millennials Will Become Richest Generation In American History As Baby Boomers Transfer Over Their Wealth


Where do I sign up for this?



posted on Nov, 17 2019 @ 10:16 AM
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a reply to: StoutBroux

Im pretty sure that the lions share of that 68 trillion is concentrated on a very small part of the millenial generation. Like... 1% of it, at best.



posted on Nov, 17 2019 @ 10:18 AM
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The wealth millennials inherit will be stolen from them through the Federal Reserve's hyperinflation of our debt based monetary system. Our monetary system will collapse unless exponentially more debt is issued. The U.S. dollar has lost @ 95% of its value since 1971, when Nixon took us completely off the Gold Standard.

In 1998 a gallon of gas cost $1 per gallon & minimum wage was $5 per hour, today a gallon of gas costs @ $3 per gallon & minimum wage is $7.25 per hour. So a poor person in 1998 could get 5 gallons of fuel for $5, today a poor person can only afford @ 2.5 gallons of gas for the same hour of work. The same is true with housing, food & insurance costs. Millennials won't become richer, their money will just be worth less.

Right now the Federel Reserve Bank is creating between 25 to 125 billion dollars per day to keep the banks afloat & keep our financial system from collapsing. These amounts will grow exponentially larger as time goes on, until our financial system collapses & the U.S. dollar is completely worthless. Our government can't afford the interest on the debt let alone the principle, this is why interest rates are so low and why we'll probably see negative interest rates in our near future. Low, zero & negative interest rates create malinvestment, which destroys corporations & jobs.
edit on 17-11-2019 by JBIZZ because: (no reason given)



posted on Nov, 17 2019 @ 10:37 AM
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originally posted by: drewlander
a reply to: StoutBroux

Im pretty sure that the lions share of that 68 trillion is concentrated on a very small part of the millenial generation. Like... 1% of it, at best.



According to the U.S. Bureau of the Census, slightly over 5 percent of the 65+ population occupy nursing homes, congregate care, assisted living, and board-and-care homes, and about 4.2 percent are in nursing homes at any given time.


People can speculate all they want. With only a small percentage of the elderly in care facilities, the fact still remains; millennials will receive the largest wealth transfer in history. Just because some may not get a dime and in fact might actually have to pay for their parents funerals (like I did), the majority will fall into the group of wealth beneficiaries.

Many people today are much wiser than they were 30, 50 and more years ago. Living wills, pre-disposition of assets, LLC 's etc. are ways to pass on assets . Also, when someone goes into a nursing home, a proxy is usually held by an offspring or next of kin. THEY are the ones who make the decisions on care. The only time the institution would have the say so would be if the client receiving care was a ward of the government with no accessible or WILLING relatives to accept this responsibility. And most of those clients are not financially well off.

To Old Timer: You must have misread my post. I am not a millennial and even if I was, I would not be part of the group that would inherit those dollars. I also don't believe we have a communistic reign at the moment.



posted on Nov, 17 2019 @ 10:38 AM
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a reply to: Puppylove

This is true - they WILL take your house. Happened to my grandparents.
You have to get that house out of their names and into a trust or a family member FIVE YEARS before requiring the care home. So you better look closely at the health of your elderly loved ones and make that transaction well before you think you will need to.
My mom's home has appreciated nicely in North-Central Arkansas, beautiful area, super low taxes (the home I live in currently is valued at three times less than hers, is in the ghetto, and the taxes are three times as much!) So I am in constant contact with my Mom to be sure that I can be there to take care of her when she needs it. No elderly care home is going to take "care" of my mom, I will do that myself - they're not getting their hands on that house for sure.



posted on Nov, 17 2019 @ 10:40 AM
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originally posted by: hopenotfeariswhatweneed


Here's the catch, once signed over to that care the decision to terminate belongs to the institution.


I understand what you are saying and there are other ways. This way is bad in the sense that people are trying to prolong a person's life well past anything remotely related to quality. If a person or relatives go down this path then they might as well understand they are in a scam that is preying on the love they have for a person.



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