There’s the other side of this equation as well. With lots of people over 65 that means in the next decade or so there’s going to be unprecedented wealth transfer to people in my age bracket. I.e. people in their 40’s and 50’s. Probably well in excess of 1 trillion dollars of wealth just in the United States. A lot of that money will end up getting dumped into the economy in the form of houses and cars and things like that.
Yep. My pre-Boomer parents recently passed away within 3 years of each other and my two brothers and I received a nice chunk of change in inheritance. Not crazy money, by any means, but it was a nice gift between the three of us after their house was sold and debts were paid.
Probably lots of middle-class Gen-X'ers and Millennialls looking at low six figure inheritances when their Boomer parents start dropping. Democrats working to ensure the government gets their fair share of money that had already been taxed.
You convinced me.
At 74, it's time for me to blow my money on wine, women and good times.
Which ties in with one of my concerns with the stock market and as the older generation continues to move forward and cash out - will demand drop enough to impact stock prices overall?
I could definitely see real estate prices being impacted... unless the millenials start to make more purchases then they have to this point.
Wealth transfer with inheritance tax at 90%. Remember that wealth is in the wrong hands. It is up to the communists to seize wealth in the name of the unwealthy to redistribute. Mayor Bill says so