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Are baby boomers being selfish, they might have lived through a couple of rough patches but overall the economy they grew up in is better than then the one their kids live in today.
"My goal is when they carry me away in that box that my bank account is going to say zero," Willison said. "I'm going to spoil myself now."
I support that approach as I always found it very unfair that young people start out from widely different socioeconomic positions, without their merit or fault. Makes more sense to spend more time with your kids and spouse instead of working so much just in order to accumulate wealth.
"Planning" to have a zero bank balance at death is not a "plan" at all, unless you somehow know exactly how long you'll live and how much health care you'll consume.
Most of the people who have an estate of any size also have a realistic retirement plan. That plan addresses all reasonable scenarios, including worst-case - things like years of long-term care. For a relative few, that worst-case will happen, and they will run out of money. Most will die before the money runs out. So they may not be "setting aside" wealth for the specific purpose of inheritance, but inheritance is nevertheless a necessary component of proper retirement & estate planning...
I'm guessing plenty of baby boomers couldn't leave anything behind if they wanted to. Most of us X & Y'ers are gonna be hard pressed to throw away all our parent's worthless junk before the banks foreclose on their houses and credit card companies start harassing us about their unpaid bills.
Uh, worthless junk? No. But do throw it away so you can complain because you're too lazy to evaluate it and go through the trouble of selling it .
Heirs and beneficiaries don't pay off debt in this state.
Quote:
Originally Posted by KUchief25
Sadly you are correct. This has turned out to be the most selfish, irresponsible generation every churned out in this countries history. I think they were babied by their parents too much after going through the hard times in the early part of the century. Their parents didn't want their children to go through the same. Now this spoiled brat generation just wants it all for themselves. Well uncle sam wants a chunk when they die too.
""""Sadly you are correct. This has turned out to be the most selfish, irresponsible generation every churned out in this countries history."""
Well, except for the generation that's whining and blubbering because baby boomers won't leave them FREE STUFF like money they haven't earned....
I've told my parents to spend it all. They saved and worked hard and deserve to have fun. While My sister and I were going to school and just starting out professionally my Mom did a lot for us financially. All I expect if for them not to leave me any bills
Are baby boomers being selfish, they might have lived through a couple of rough patches but overall the economy they grew up in is better than then the one their kids live in today.
No. They earned it. They should enjoy it. And it has nothing to do with being part of the baby boomer generation.
My parents who were a part of the supposed greatest generation did not leave my family a dust ball. My daughter is recently divorced and her family now lives with my boomer wife and I rent free. If I can prevent this current Administration of idiots, bigots and racists from stealing everything from me, my daughter will inherit an above-average home in Albuquerque and a rent house and small farm in Texas.
Whenever I see some knothead here on C-D lump an entire generation in some preconceived derogatory group, I am reminded why I have always believed that there are good and bad in every generation. That is especially true when that prejudice is surrounded in greed.
I read an article many years ago about how the WWII generation has amassed the largest amount of wealth in history. The article went on to say how big business, knowing that money was going to be inherited by the boomers, was planning ways to relieve the boomers of their windfalls.
I would say for the most part, that goal has been accomplished.
The children and grandchildren of the boomers have been left with a country stripped of its job base and deeply in debt.
I only hope that thru their hardships they will learn to distrust bankers, corporations, and the politicians they buy.
You cannot defend yourself until you know who your enemies are.
My parents who were a part of the supposed greatest generation did not leave my family a dust ball. My daughter is recently divorced and her family now lives with my boomer wife and I rent free. If I can prevent this current Administration of idiots, bigots and racists from stealing everything from me, my daughter will inherit an above-average home in Albuquerque and a rent house and small farm in Texas.
Whenever I see some knothead here on C-D lump an entire generation in some preconceived derogatory group, I am reminded why I have always believed that there are good and bad in every generation. That is especially true when that prejudice is surrounded in greed.
That's my pet peeve...rolling an entire "generation" into a ball and making ignorant generalizations about it. That in itself proclaims the argument to be null and void...nonexistent.
The funny part is the posters whining about how greedy, lazy, and irresponsible another generation is while they complain they won't get anything for free
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