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Boomers are the most selfish generation in history?
571 sats \ 12 comments \ @IamSINGLE 10 Feb charts_and_numbers
A huge transfer of wealth — about $105 trillion — is expected to take place over the next quarter-century in the US, with $2.5 trillion headed to heirs in 2025 alone, according to research firm Cerulli Associates. The universe of recipients is relatively small, however: A Bloomberg analysis found that just 20% of American households saw a substantial gift, trust or inheritance from a deceased family member in recent decades.
But wait, are baby boomers the most selfish generation in history?
Yes, at least the stats below say the same.
Source
Baby Boomers are far and away the stingiest generation by at least one measure: desire to pass on their riches during their lifetimes.
I'm sure it's not a truth for Bitcoiners but our fiat oldies may show these traits. However I believe in what my grandfather used to say "If you beget a talented kid, there's no need to hoard money for him, if you beget a spoiled kid, there's again no objective to hoard money." I hope you get what he meant.
What do you say?
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31 sats \ 1 reply \ @siggy47 10 Feb
"If you beget a talented kid, there's no need to hoard money for him, if you beget a spoiled kid, there's again no objective to hoard money." I hope you get what he meant.
What if your kid is an honorable, diligent dimwit?
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84 sats \ 0 replies \ @IamSINGLE OP 10 Feb
When I used to hear him say those words, I was very young to argue and when I could be was no more. But I asked my uncle the same. He replied that a dimwit most probably won't require more than his necessities, so again there's no use to hoard. But I didn't agree with him and made various reasons, like what if the kid requires some medical treatment, or he doesn't get a job and so on.
What I think that the saying should have some exceptions to be entirely correct.
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10 sats \ 1 reply \ @BitcoinIsTheFuture 10 Feb
Yes. Look at the facts and context. Kids are now growing up in an inflationary disaster. The cost of college, a home, raising a family. None of them can afford this unless boomers gave them money, why?
Broken money. Driven by these boomers and entitlements, pensions, government handouts, government money. Why didn’t they stand up to politicians to help future generations? They just let the printer go brrr and saw I’ll be ok. But maybe not so. Most struggle to buy meat and eggs. Their government wants them to eat dead bugs like the pheasants in the 1600. Enjoy living in a first world country they say?
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21 sats \ 0 replies \ @IamSINGLE OP 10 Feb
I second everything you said.
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10 sats \ 1 reply \ @cryotosensei 10 Feb
As a member of Gen X, I think most of us are determined to become the final sandwiched generation. Even the insurance companies in my country frame their adverts from this angle. That’s why many of us wanna leave our assets to our young
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21 sats \ 0 replies \ @IamSINGLE OP 10 Feb
I'm a zen Z and I don't think we're better than the Gen X. The problem is that the Boomers in general don't think any generations better than them. There's a big generational gap after the boomers specifically.
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10 sats \ 2 replies \ @JesseJames 10 Feb
hmm, maybe because they worked their butts off, for it...?
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21 sats \ 1 reply \ @IamSINGLE OP 10 Feb
No, they were the creator mates of a fake economy for which we are now punished.
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0 sats \ 0 replies \ @Solomonsatoshi 10 Feb
Correct. Financialisation delivered by the Boomer neoliberals. Strangely, Libertarians, mostly of the subsequent generations, want to continue down that greed is good road to nowhere, except economic and societal decimation.
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10 sats \ 2 replies \ @Solomonsatoshi 10 Feb
As a Boomer I agree with your grandfather.
Millennials are frequently spoilt, annoying and entitled brats.
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21 sats \ 1 reply \ @IamSINGLE OP 10 Feb
He didn't mean it specifically for the millennials but for the kids in general. Maybe you didn't get what he actually means. He wanted to suggest that money hoarding isn't necessary, it should be spent.
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0 sats \ 0 replies \ @Solomonsatoshi 10 Feb
I believe that what your grandfather meant is it is better for most kids (capable or spoilt, of any generation) to stand on their own two feet and make their own fortunes rather than to expect an inheritance.
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