We're cooked. Here's the terrifying reality... Millennials' net worth should be much higher. And when boomers pass on, we're going to see net worth collapse on a massive scale.

When Boomers pass on their net worth will be passed down to the next generation.

Why are you looking at average... That's a horrible metric. Median. Use Median!

Do you think their assets just disappear when they pass away?

wouldn't they pass their assets and wealth onto their millennial children?

I can't believe capitalism is a failure! If only the entire left wing had mentioned this before now!

Not true. You do know that Boomers aren’t all goin to just drop dead at the same time right? Right? You do know that humans adapt and change when the environment changes right? Right?

@ShellDavis27851 This makes zero sense. Net worth doesn’t disappear when people die, it passes on to their youth. These constant attacks on older people are ridiculous. Zero respect.

@ShellDavis27851 It makes perfect sense and is happening in Asian countries. Youre offended by a fact

Because they weren't taught any self discipline. They spend it faster than they make it. And most of them would rather cry about wages for flipping burgers instead of trying to get a better career.

Oh shit we're back on the doomer arc? What happened to the flat earth big foot temu Coast-to-Coast arc?

Someone doesn't understand compound interest

Give me a break. The majority of boomers do NOT own two homes. That is plain wrong

Yes the older Gens like to think this started with Gen Z it did not. Younger Mills were fucked over so much in the main parts of life and it has not stopped....Maybe 2 years when trump got elected it was getting better.

Millennials spend it as fast as they get it.

You already got community noted for this once, are you going for Round 2?

don't live in metro areas 90% of the US is outside those areas and there are plenty of homes and land to buy that are affordable real estate is where most net worth is derived I do this all day in all 50 if you are in the trades, work remote, etc. this is a no brainer

Time for millennials to own part of the production. Proposal: Every year, increasing by 2% the Social Security tax goes into chosen index funds (example S&P500, local government bonds, small business start-ups, opportunity zones, etc) while the rest of the Traditional taxes continues as current. The migrated taxes that are collected, let's call it Social Security Index Funds (SSIF) for the rest of the proposal. Here is an example breakdown for year and the impact ----------Graduated migration from Traditional to SSIF--------- Year 1: 2% SSIF 98% Traditional (0.24% actual tax percentage) Year 2: 4% SSIF 96% Traditional (0.50% actual tax percentage) . . Year 50: 100% SSIF 0% Traditional At the death of the tax payer, continuation of annuity payments to surviving spouse/minor children as current with Social Security. Upon the annuity no longer be distributed (no longer paid to surviving spouse/children), the remaining equity of unclaimed annuities goes into the general fund to cover shortages of withdrawals in the program. This will reduce a need for any additional taxes and/or printing of money to cover the difference.

Second largest upward transfer of wealth in history, on deck.

And so. Socialism kills.

Millennials don't know how to do shit.♥️🇺🇲😎💯

Things have a way of working out. You got to be more positive

Maybe we should gamble more

The interest on the debt will soon be unmanageable. Everyone will feel the pinch. To stay incumbent, Gubmint spends. That won’t stop voluntarily. Gonna take pew pew, imho. Good luck because I’ll be dead. 🍀😇

If boomers stopped trying to take it all with them and were building/passing down generational wealth, we'd probably be better off.

The boomers aren't seeking cause they can't afford to. Their net worth is tied up in their homes. Mortgages are an evil tool the banks have used for a century to extract wealth.

Wow. It’s almost like conservative GenX and Boomer politicians are more concerned for oligarchs and don’t care about creating opportunities for millennials and younger, Pool.