What's going to be the final way that boomers pull up the ladder behind them?
-
This post did not contain any content.
Mutually Assured Destruction
-
This post did not contain any content.
Gravesites. There will be no room to bury Gen X and down.
-
This post did not contain any content.
My boomer relatives floated the idea of donating their estates to the mormon church upon their deaths, fucking their apostate kids out of any inheritance
-
Gravesites. There will be no room to bury Gen X and down.
Jokes on them, we will never be able to stop working long enough to have a proper funeral. They'll just bury us where we drop.
Not like most of us care anyway. Just throw my rotten corpse in a dumpster, ain't nobody wanna smell it anyway.
-
I think crashing the dollar is more likely to screw the boomers than the young. They have the wealth which will devalue. The super wealthy with generational wealth will be fine as inflation will help their assets. the boomers transitioning from assets to cash for stability in retirement will be screwed.
I disagree.
Inflation affects property (which probably refers to every tangible thing you will interact with other than the currency that is inflating). If the amount of money you need to give up in order to acquire an object increased due to time passing, that is "inflation". That means that when inflation happens, every person who has at least 1 dollar bill suffers (since they won't be able to trade it for as much stuff as they could before).
A person who is significantly wealthier than someone else probably won't have a significantly larger amount of money. Elon Musk surely doesn't have 1 billion $1 bills stored in a basement: they probably have a large amount of money in their wallet and in a bank account, but I would be surprised if less than 90% of their net worth was derived from owning property. A "billionaire" might have 100 times as much "money" as the typical person, but they probably don't have 10,000 or 100,000 times as much: https://breznikar.com/articles/how-much-cash-on-hand-do-billionaires-have/1781 https://www.fidelity.com/learning-center/smart-money/average-net-worth-by-age
This means that when there is inflation, a poor person's net worth will likely decline more than that of a rich person, since it's likely that a large amount of a poor person's net worth will be in the form of cash when compared to a rich person (and the net worth of a rich person will probably increase, since it's likely that the value of their property will increase more than the amount they lose from the value of their money going down).
People who are older are usually wealthier than young people, and people who are wealthier probably derive a larger percentage of their net worth from owning property than someone who is less wealthy, so when inflation happens, the net worth of young people probably decreases more when compared to older people.Some things that can offset the impact of inflation are having debt and/or income that increases when inflation happens. I intentionally mentioned that property is tangible, but income and an obligation to pay someone using money seem less tangible. If you only own a $100 bill in your pocket, but you have a debt of $100 and your household income is $80,610 each year, if prices double but your income doubles too, that means that your net worth would not really change (you still have $100 and owe $100), but it would be easier to pay your debt (since it would become a smaller proportion of your income). If your income increases faster than inflation does (which is technically a typical situation), that means that you are in a better position as time passes! Moreover, old people typically have less (earned) income and debt than younger people, so in some ways young people have an advantage over old people.
In general, getting more (earned) income and debt is probably the way to overtake someone older than you. Getting a job providing something that old people pay for (like gambling or medical services) is probably an even better way.
-
...privatization of social security...
wrote on last edited by [email protected]This is the correct answer. And, they’ll do it so that it kicks in only for people younger than them.
-
This post did not contain any content.
Corporate nursing homes milking them of all their remaining inheritable money.
-
The easy answer is by spending all their money before they die so that their kids/grandkids don't really have an inheritance.
This works for me. My dad died when I was 19 and I got a little insurance money, but he left his significant estate to his 2nd family. Fucking pos, burn in hell.
Wife's dad died a few years later. Left her a little, but when you're 20-something, you have no idea how to manage it. Had a relative help manage it, she did a great job of picking losers so it slowly dwindled down to very little in about 10 years.
Wife's mom was an invalid ward of the state, we had to pay for a bunch of her expenses. No insurance or assets to speak of, all her shit went into a dumpster as most was garbage.
My mom is left and shes never met a dollar she couldn't spend. My brothers and I are giving her money and food so she can stay in her house, but its in a shitty neighborhood and has many stairs. She has already said she won't go into a home, I guess that means one of us has to take her in. She has lots of ugly old Ethan Allen furniture that she thinks is worth a fortune, but its just ugly old furniture.
All we got from this was a little money when we were too young to manage it and expenses from anyone left.
I am so envious of friends who have parents that put something aside for them. They will have an actual retirement. I will be working until I'm old as shit.
-
They've already done it. The environment is fucked for future generations.
they didn't stop
-
In a way, this has already happened with 401(k) plans.
In general, making each person's retirement income more easily measured is likely a good thing, since it will probably encourage people to behave in a more prosocial way. https://www.heritage.org/social-security/report/pension-reform-sweden-lessons-american-policymakers https://www.youtube.com/watch?v=sKjHvpiHk3s -
Gravesites. There will be no room to bury Gen X and down.
Eh, here in Sweden it is normal to reuse grave sites, you normally get a grave site for 25 years, but it can be extended.
The relatives of the person buried can extend the time that the gravesite is yours, but it costs money.
Sooner or later the gravesite is returned to the church to be reused.
-
In the U.S., project 2025.
I remember reading an analysis before the inauguration that it was expected to take 40 years to reverse all of the policies that Trump told people at the time he would implement, and now, I shudder to think how long it will take to reverse the current dammage
-
Mutually Assured Destruction
My dad gets a kick out of hearing how bad the environment is. He literally wants the world to die with him. I think most boomers feel that way. I think they truly would love the word to be nucked. They don't give two shits about any other generation. Thats why they don't care about climate change. They truly so selfish that the world should die with them and we all suffer.
-
Eh, here in Sweden it is normal to reuse grave sites, you normally get a grave site for 25 years, but it can be extended.
The relatives of the person buried can extend the time that the gravesite is yours, but it costs money.
Sooner or later the gravesite is returned to the church to be reused.
Is everything broken down in 25 years or do they do something with the remains?
-
Gravesites. There will be no room to bury Gen X and down.
Good thing more and more people are choosing cremation these days.
-
Is everything broken down in 25 years or do they do something with the remains?
Most people here are cremated, I also remember the urn my grandfather was buried in was biodegradable so after 25 years there is nothing really left.
I don't know if everything is broken into 25 years, or so, that is just what I read on the Chruch of Sweden's website.
-
This post did not contain any content.
To spite the libs, they'll inflate the US dollar till its worthless.
-
wrote on last edited by [email protected]
Yes, I agree. The ultra rich won't be affected as their assets price will rise. The boomers who have reverse mortgages their house have cash, or a perpetuity. The asset will rise. Their money will not.
The poor will certainly be worse off, as they always are. The young will be worse off. However, their wages will rise to catch up. Maybe not enough, but a rose nonetheless. The boomers depending on the reverse mortgage income or the cash pile from the agreement will just have devaluation.
Boomers will be more worse off in dollar terms and percent of wealth lost. At least, that's my guess.
-
Eh, here in Sweden it is normal to reuse grave sites, you normally get a grave site for 25 years, but it can be extended.
The relatives of the person buried can extend the time that the gravesite is yours, but it costs money.
Sooner or later the gravesite is returned to the church to be reused.
That's the way it is in a lot of European countries. Every single acre of land would be a gravesite if not for this system.
-
This post did not contain any content.
they already did, decades ago. consistently voting with the republicans. like 1-2 generations ago, when they went with reagen, and then again with BUSH as the final act.
