Millennials stand to become the richest generation in history, after $90 trillion wealth transfer

CNN ^ | 2/28/24

[Steve_Seattle]

"Millennials are poised to inherit some $90 trillion of assets and become the richest generation in history – but only the ones who already come from affluent families, potentially deepening wealth inequality further."

It sounds like they are laying the groundwork for a massive confiscation of family equity through huge inheritance taxes. This money will then be distributed to Democrat constituencies, e.g., blacks. Don't be surprised if these stolen inheritances are used to fund some sort of "reparations" scheme.

[lucky american]

The research also showed that affluent young people are less likely to see property or real estate as a way to build wealth in the future.

You will own nothing and like it.

[algore]

Lol, while I might hope to get money when my mother dies, I would rather she didn’t.

When my father died I got his old caddy only cause my I told my mom Kars for Kids was a scam and I would take it, and then I gave it away to one of my kids.

I don’t expect anything and have told her if it all goes to her grandchildren (there are many) it will help them and I would be happy cause they all work hard and are getting screwed.

[texanyankee]

I agree.

The Swamp won’t allow $90 Trillion to slip through untouched.
Spread the wealth around the world.

[x]

Ha! Tom Selleck and AAG are getting all the Boomers' heritable property.

Between now and 2044 in the US, the Silent Generation and Baby Boomers are expected to hand over the reins of their significant wealth to Millennials, according to The Wealth Report, a periodic report from global property consultant Knight Frank.

"Silent Generation"? If you were born in 1930 or 1940, you are more likely to have X-er, or even Boomer, kids than Millennial children.*

[KittyKares]

They are going to inherit it or the government is going to find a way to take it.
_______________________________________________

The government might even find a way to take it from boomers while we are still alive.

[Skywise]

And of course, they got their college loans paid for

[Sooth2222]

but only the ones who already come from affluent families, potentially deepening wealth inequality further.

Affluent families are (usually), affluent families because they worked hard and then consumed less than they earned

or the government is going to find a way to take it

Yes, the Demonrats want to take it and give it to people who don't work hard, and consume more than they earn. They are quite open about this.

[Reddy]

“They are becoming this rich from the money they have taken from the average to poor person. They do it through our government and representatives.”

Did I read this wrong, or are you posting here from Reddit??

[dfwgator]

Yes, the Demonrats want to take it and give it to people who don’t work hard, and consume more than they earn. They are quite open about this.

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That’s why the Corporations love the idea of Reparations, they’ll wind up with all the money in the end.

[Reverend Wright]

” And who are they getting it from once again, you Boomer Haters? “

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They are giving it to the bloated gov’t that the Boomers created, and that the BoomerCons made speeches but didn’t do anything about.

https://www.usdebtclock.org

[Vermont Lt]

The best thing to do if reparations are approved is to invest in Infinity dealerships.

[dfwgator]

Or FUBU, after they merge with KFC to become the world’s biggest company.

[NEMDF]

I resent your comment. I worked very hard, full-time, for over 46 years. I saved every dime I could save. I have some savings now, retired at 65 a couple years ago. I am not “rich” by most standards, but if I passed today, my kids would gain a good amount of money, certainly enough for nice new houses, and to put their kids through college.

I did not take any money from poor people. I am certain I would be classified as “average” or less, financially. I have not reaped any special benefits from governement or representatives.

[Organic Panic]

Setting up the new current thing that inherited assets must be confiscated and redistributed by bireaucrats.

[bankwalker]

you sound like a commie bastard ...

[desertfreedom765]

This is why boomer parents should be helping their kids as much as possible while they are alive and the kids are young enough so that it matters.

Help them pay off student loans, purchase 1st homes, not fund a lavish consumer lifestyle.

But kids inheriting a lot of wealth when they are 50+ doesn’t help them so much, especially when the government is ready to swoop in and take as much as they can.

[gibsonguy]

Weapon grade BS from CNN.

[zeestephen]

$90 trillion?

Only the first $13 million is tax free.

After that, an Estate is taxed at 37%-40% (federal). Some states also tax the Estate.

The current federal estate tax expires in 2025.

Since the GOP will probably lose both the House and Senate in 2024, the Estate tax exemption will drop back to $7 million - or worse, if Biden and the radicals are still in charge.

Bottom Line...

A big chunk of that $90 trillion is going to the federal government, which will pay down zero debt, and just keep spending and spending.

[Mr. Jeeves]

This money will then be distributed to Democrat constituencies, e.g., blacks.

The dirty little secret is - they don't keep it. Invest big in alcohol, tobacco, and snack food stocks. :)

As for wealth transfer to Millennials, government has been greedily eyeing the Boomers' assets for decades. They get some, but not as much as the article suggests.