Millennials Are Set To Inherit As Much As $90 trillion in assets before 2044

[Loggie]

How old were when you got it?

How sure are you that the kids will keep the homes? I know some ppl that past and left income properties to the kids and they sold them within 2 years.

I’m a Reservist. 500k with the army. 400k life insurance with USAA. 100k with my job. Maybe $100 total out of pocket.

Who knows with the kids. I’ll be gone when they get it.

Actually trying to set up our wills this Spring so we will figure out how we would divide everything as of this year.

 

[BeeCityRoller]

Unless their parents own multiple properties its going to get ugly, siblings going to be in their 40's and 50's fighting over a house that hasn't been maintained or updated in 20 years. Gotta pay off all the loans and credit cards before they can even get their name on a deed - better hope their parents didn't take out a HELOC or Reverse Mortgage

 

[TELL ME YA CHEESIN FAM?]

Unless their parents own multiple properties its going to get ugly, siblings going to be in their 40's and 50's fighting over a house that hasn't been maintained or updated in 20 years. Gotta pay off all the loans and credit cards before they can even get their name on a deed - better hope their parents didn't take out a HELOC or Reverse Mortgage

 

[Black Magisterialness]

Unless their parents own multiple properties its going to get ugly, siblings going to be in their 40's and 50's fighting over a house that hasn't been maintained or updated in 20 years. Gotta pay off all the loans and credit cards before they can even get their name on a deed - better hope their parents didn't take out a HELOC or Reverse Mortgage

I'm under the assumption that I'm not getting anything from my folks besides life insurance stuff.

 

[dora_da_destroyer]

The earliest millennials have Boomer parents and even then those would be late boomers. You have to remember people were not starting families in their 30s as much as now.

no most milliennials have boomer parents minus the youngest who might have early gen x. boomers had kids mostly 20-35, someone who is 35 with a parent 25 years older is a boomer, it's not until you get to the people who are 28-32 where they likely have old gen x parents

 

[Shadow King]

no most milliennials have boomer parents minus the youngest who might have early gen x. boomers had kids mostly 20-35, someone who is 35 with a parent 25 years older is a boomer, it's not until you get to the people who are 28-32 where they likely have old gen x parents

The math ain't matching to say "most" Boomers had Millennial kids...

The earliest Millennial with 25 y/o parents makes them born in 1955/56, the halfway point.

 

[dora_da_destroyer]

The math ain't matching to say "most" Boomers had Millennial kids...

The earliest Millennial with 25 y/o parents makes them born in 1955/56, the halfway point.

Boomers run 1946-1964, millennials are 28-43, the math matches just fine.

 

[Shadow King]

Boomers run 1946-1964, millennials are 28-43, the math matches just fine.

Except it doesn't. Again Boomers were not waiting till 30+ to have kids.

'46-'55 Boomers parented Generation X. '56-'64 Boomers started bearing Millennials, probably about half of them.m or a bit less. After 87/88 Millennials parents are generally X.

Saying most Millennials come from Boomers is unlikely.

 

[dora_da_destroyer]

Except it doesn't. Again Boomers were not waiting till 30+ to have kids.

'46-'55 Boomers parented Generation X. '56-'64 Boomers started bearing Millennials, probably about half of them.m or a bit less. After 87/88 Millennials parents are generally X.

Saying most Millennials come from Boomers is unlikely.

They had multiple kids…no they didn’t have their first at 35 but they had their 3rd or 4th. And no, someone born in 63 would still only be 27 in 1990, that’s still a boomer having a millennial. But whatever breh, this ain’t that important for this many replies.

Per Wikipedia

Most Millennials are the children of Baby Boomers and older Generation X

 

[Roger king]

This is for the rich nikkas and brothers with 6 figures, us brothers working menial jobs hussling working the night shift this isnt for us, we just hussle

 

[Shadow King]

They had multiple kids…no they didn’t have their first at 35 but they had their 3rd or 4th. And no, someone born in 63 would still only be 27 in 1990, that’s still a boomer having a millennial. But whatever breh, this ain’t that important for this many replies.

I know they had multiple kids which means they started with Generation X. '63 is the 2nd to last year of Boomers which doesn't make up "most".

 

[dora_da_destroyer]

I know they had multiple kids which means they started with Generation X. '63 is the 2nd to last year of Boomers which doesn't make up "most".

ok

 

[omnifax]

This is not inheritance

It's a wealth transfer that you increasingly need in this country to survive and have an normal life and it lessens the need to have an entire inheritance at a young age as you mentioned.

 

[Shadow King]

It's a wealth transfer that you increasingly need in this country to survive and have an normal life and it lessens the need to have an entire inheritance at a young age as you mentioned.

Having your tuition paid or assistance with a down payment is not a wealth transfer. I understand white folks have advantages set in place but you're changing the definition.

 

[omnifax]

Having your tuition paid or assistance with a down payment is not a wealth transfer. I understand white folks have advantages set in place but you're changing the definition.

It most certainly is a wealth transfer Having tuition paid coming out of college and or having a down payment for a house is a huge head start especially for anyone with high level professional degrees. But here let me help you understand what I'm talking about:

The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners

"Heirs increasingly don’t need to wait for the passing of elders to directly benefit from family money, a result of the bursting popularity of “giving while living” — including property purchases, repeated tax-free cash transfers of estate money, and more — providing millions a head start.

It’s no longer “an oncoming phenomenon,” said Douglas Boneparth, a 38-year-old financial adviser whose New York firm caters to affluent millennials. “It’s present-day.”

And it’s already impacting the broader economy, greasing the wheels of social mobility for some and leaving obstacles for those left out as the cost of living, housing and raising families surges.