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Millennials Will Become Richest Generation In American History

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posted on Nov, 17 2019 @ 10:46 AM
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originally posted by: hopenotfeariswhatweneed

That's right he didn't recognise his family, he was alive, assisted living with no comprehension of the world around him, he was was wealthy enough to maintain that lifestyle.


Its a sad story that everyone should learn from. There is always a point that should be enough. Even now in my 60s I'm kind of looking forward to some end in my life in the sense I been doing this stuff now for a long time and lets try something new if I get to the point all I can do is watch reruns of some 70s show or worst...talk about a living hell.




posted on Nov, 17 2019 @ 11:00 AM
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a reply to: JBIZZ


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.


In this respect I disagree since technology and product offsets the difference. I rarely drive my classic work truck long distance since the mpg is rather expensive. Our newer cruising car will get us from point A to B for $5. My truck will cost $20+ in gas.

There are constant offsets but it does seem to balance out overall. Even our previous generations had to sit down and determine how to budget and get the most value for their $$$. Millenials who acquire that skill set will find they will be richer.




edit on 11 17 2019 by CynConcepts because: (no reason given)



posted on Nov, 17 2019 @ 11:11 AM
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a reply to: StoutBroux




Since the Millennial generation is smaller than the Boomers they're inheriting from, the wealth handed down will be highly concentrated. Ironically, this could contribute to increasing wealth inequality.


This is the money shot. What's ironic is that the author found it "ironic" but didn't bother supporting it with any details. That's "journalism" for ya.



posted on Nov, 17 2019 @ 11:17 AM
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a reply to: EternalSolace

The best part is the self-described genius's here at ATS don't realize they are simply "parroting" the same irrational fear of "missing out" that the "democratic" government of Athens expressed when they put Socrates to death for "corrupting the youth with high ideals and making them lazy."

Humans are biologically wired to believe their cohort is the best of the best and that everyone who comes after is stupid and / or lazy.



posted on Nov, 17 2019 @ 11:22 AM
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Why is GenX being passed over? Boomer > Millennial? What's supposed to happen to the bridge there? Does it collapse?

People that write this stuff for a living always have predictions, but do they ever really pan out?

Just live your life with discernment, make good decisions early on, be informed, love your family, budget and invest wisely, pay your bills, save what you can, and hold out enough "play" money to enjoy life.

And, vote into office those that support a strong business environment, better wages, lower taxes, and common sense approaches to policies that protect our country and our way of life.



edit on 17-11-2019 by queenofswords because: (no reason given)

edit on 17-11-2019 by queenofswords because: (no reason given)

edit on 17-11-2019 by queenofswords because: (no reason given)



posted on Nov, 17 2019 @ 11:33 AM
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a reply to: Puppylove

That's unfortunate since all one needs is a revocable trust to
protect assets from probate. Too many are ignorant of the
fact that a Will does not. No large sums of money or assets
are needed to create a trust. It can be funded with
$1.00 and as assets increase, add to the trust.
Add everything, bank accounts, insurance policies,
annuities, real estate, cars, boats, investments.

The smart investor will lock everything in with a
pour over will if future assets are inadvertently
not placed within the trust.

$3000 estate planning advice for free



posted on Nov, 17 2019 @ 11:49 AM
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originally posted by: MrBlaq
a reply to: Puppylove

That's unfortunate since all one needs is a revocable trust to
protect assets from probate. Too many are ignorant of the
fact that a Will does not. No large sums of money or assets
are needed to create a trust. It can be funded with
$1.00 and as assets increase, add to the trust.
Add everything, bank accounts, insurance policies,
annuities, real estate, cars, boats, investments.

The smart investor will lock everything in with a
pour over will if future assets are inadvertently
not placed within the trust.

$3000 estate planning advice for free




Ya, people have never heard of a living trust....



posted on Nov, 17 2019 @ 03:27 PM
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If you consider inheriting trillions in debt of a fiat currency that has NO monitory value. Then sure...

Sounds like more hyperbolic BS to promote millennials not to become productive members of society. Just sit around till 2030 then get rich off your dead parents. Your parents who wasted their wealth on Viagra and trips to Cancun...

*SMH*



posted on Nov, 17 2019 @ 05:18 PM
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a reply to: Xtrozero

I don't think you understand what middle-class is...

Scarcity of disposable income doesn't make you middle or lower class. It's more about income and wealth. You're probably upper-middle class if you can afford 'a few million' split between two descendants.



posted on Nov, 17 2019 @ 06:35 PM
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And they just cant wait to give it all to communists.



posted on Nov, 17 2019 @ 06:36 PM
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edit on 17-11-2019 by byteshertz because: Double post



posted on Nov, 17 2019 @ 06:43 PM
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Most of us melenials have parents that are still in their late 50s-60s.

With the rate medical science is advancing, life expectancy and medical costs are increasing, most of us are not holding our breath to see a dime.

On the plus side we get more years with our parents, unfortunately for most of us the only thing quality about that time will be the diapers.

So as usual the only ones who will win will be the 1% that already had mommy and daddy buy their house, car, education & buisiness for them anyway.
edit on 17-11-2019 by byteshertz because: (no reason given)



posted on Nov, 17 2019 @ 08:47 PM
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originally posted by: crayzeed
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.




That's what happened, the weekly cost was a little more than that, for I years he just sat in his room dribbling and not recognising anybody, it was awful.



posted on Nov, 17 2019 @ 08:48 PM
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a reply to: Xtrozero

It's a scary proposition, just having this conversation gave me nightmares about it last night.



posted on Nov, 17 2019 @ 08:51 PM
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originally posted by: Xtrozero

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.




Fair enough, but in our case we couldn't just off him and he was so far gone we couldn't look after him, there was no choice in the matter.



posted on Nov, 17 2019 @ 09:27 PM
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So the have's kids inheriting the money is going to make up for the have nots?

Haha!



posted on Nov, 18 2019 @ 12:13 PM
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a reply to: hopenotfeariswhatweneed

It is hard for people to deal with the decline of a loved one.

When the person who has loved you and sacrificed for you their entire life, reaches the stage where they need complete care, it is difficult on many levels.

One of the hardest things to get people to understand, if have not been through the death and dying process before, is that it is nothing like those beautiful departures, Hollywood has portrayed in the movies. In some cases it goes beyond horrific. No one wants to watch a loved one die in agony and suffering. A dignified death is usually an assisted death, because unassisted death is usually terrifyingly ugly. I have had families fight to have a loved stay at home to receive care from family, find out that it is rarely as easy as it seems, and is cost prohibitive for most.

If any kind of skilled care is required, finding someone willing to provide care at minimum wage, will be near impossible. But lets do the math at a low of $7.25 an hour. We won't factor in shift differential or weekend pay. If care is needed around the clock, you are going to need no less than two people and that will be greatly pushing it. $7.25 an hour for 24 hours is $174.00 a day. That without other wage adjustments is $5220.00 a month.

That is why care homes and institutions can get away with charging so much, because even at their high fees, it is still cheaper than if you tried to do it on your own.

Quality care comes at quality prices, even if they have a living will and request no heroics or resuscitation, unless it is a quick natural death, the cost of dying can far out price the cost of living.



edit on 18-11-2019 by NightSkyeB4Dawn because: OCD



posted on Nov, 18 2019 @ 04:23 PM
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Wasn't a penny like a hundred dollars hundred or two years ago?
edit on 18-11-2019 by Specimen88 because: (no reason given)



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