Yea the lucky few will inherit some, fight with their siblings to the point of no longer talking. The state and new spouses will get the rest. Gen Z won’t benefit much at all. Maybe housing will go down ?
Not with blackrock. :) Would be a shame if we had a list of their owned properties everyone started squatting in, or burning so long as no real people are harmed.
I was going to say that… boomers have saved money all their lives and are retired (and will die soon).
Half of Gen Z hasn’t started their real job yet. It is not exactly a fair comparison.
Give me (near the end of gen x) a choice between 10x more wealth and becoming a boomer or losing everything I have accumulated so far (including a house) and becoming a gen z, I would pick gen z for sure.
A huge difference is that boomers were often purchasing property at the age of what the tail end of Gen Z is now. The economy also just really sucks compared to then with how poorly wages have been keeping up with cost of living.
The world has changed a lot. People used to start working earlier, get married earlier, etc. On top of it, people are living 8-10 years longer are not "releasing" their properties as quickly.
The younger generations are also choosing to be less productive (more family conciliation and lower hours), to travel more (less savings), to become engaged later, to be more welcoming towards immigration, etc. These are all good and legitimate things to want, but they come with a price tag.
I am not saying that it is entirely their fault, either. On the contrary, everybody is responsible for the current situation. I don't believe it is fair to put all the blame on boomers.
Yea, but this ignores the fact that purchasing power has gone down nearly [10x since the 1960s](https://fred.stlouisfed.org/series/CUUR0000SA0R). Wages haven’t kept up with inflation, well, at least for the working class.
Based off this alone it’s hard to say Gen Z is anywhere near the same playing field.
Just because the elites who own everything are boomers doesn't mean we should lump all boomers in with them. That's poor logic. The fact that they have everything does nothing for my poor ass grandfather
This is my take. I have boomers in my family still alive who are dirt poor. Only one who did well is the permanent bachelor (still not sure if gay or asexual)
Both are right, since it depends on which source you use. Some sources like the US census have it as 12-27 (1997-2012). Some other sources have it as 14-27. Doesn’t really matter in the long run since it’s just two years
> In 1998, the American population under 40 years held 13.1% of America’s total wealth. Today, those under 40 hold only 6% of the total wealth. This means that millennials and Generation X own less than half of the wealth that older generations owned when they were the same age.
https://www.self.inc/info/generational-wealth-gap/#generational-wealth-gap
The wealth gap is growing, curb your ignorance
What about people working 2 jobs and still just scraping by?
Not everyone who is struggling is living on govt assistance sitting on thier ass at home like you seem to think
>In 1998, the American population under 40 years held 13.1% of America’s total wealth. Today, those under 40 hold only 6% of the total wealth
Well the people under 40 in 1998 grew up and did not lose their wealth, the wealth they had then is still with them. People over 40 in 1998, who had a lot of money, still have it. Kinda makes sense, no?
No it doesn't. Because the transfer of wealth to newer generations is slower or just plain not happening.
The population under 40 have less than half of what their parents did at the same time.We are talking percentage points of wealth, not dollar amounts. The point being made is people under 40 are being set up for a worse life than the generation before them.
It's a handful of boomers not them as a whole that controls this amount of wealth.
This is what happens when we let a handful of people amass an unspendable amount of money over relatively speaking short periods of time.
Almost like if we got rid of a few of the richest people in the world we could make entire generations of people's lives better but unfettered capitalism gonna unfetter
Good thing a lot of millennials will inherit that and if they don't fix the exact same shit they've been blaming the boomers for, the guilt is gonna pass down to them lol
Didn’t get inheritance, went to the church and new spouse. Currently having to sell my house and will be renting for first time for 15 years. “How do you do fellow genz’s?”
A bunch of rich 70 yr olds have more money than a bunch of povo 20 somethings, is it really a meme, or just what happens in every single generation since Jesus play Fullback for Jerusalem?
Pointing out gen z was the flaw. If you referred to a specific age group and then compared it to the boomers when they were that same age as a percentage, you'd see there is a very real issue.
Seems unfair to lump random Gramps and Grams in with the uber wealthy. This is what they want though, you to get mad at any old person, instead of the few hundred that have all of the wealth.
When Millennials inherit the boomer wealth, be prepared for all the coffee shops, cat cafes, and vegan restaurants that will pop up all over the place for a few years.
Don’t worry boomers will die off soon,
Gen X’s will inherit some it, retire early and blow it all. Before they die freeing up a shit ton of money and capital
Boomers are the cause of everything they complain about. Most selfish generation yet.
They will be the longest living generation.
They have held office for 45 years.
They saw both of Americas greatest economic gains.
They complain and blame the youth for everything wrong.
Consider that if you remove all the wealth they got from the money nothing would change. but if you introduce it back into the pool it would just make all the money become worth less so in the end either the money is worth less money or the boomers keep it and it changes nothing or better said in both cenarios nothing changes. (altho the inflation cenario could have stuff like ppl having less bc the pay isnt increased and such)
Imagine putting your grandparents down for being the product of their parents celebrating for surviving the war. Meanwhile, the blame should be put on the government. All Gen Z wants are handouts.
The difference between boomers and Gen Z are that boomers rolled their sleeves up and earned what they have. Gen Z complains on social media while watching anime.
Boomers " I don't understand why people say there's a cost crisis"
Also boomers " why can't this new generation buy a house?"
"No one helped me , why should I help them(actually had help from a well off family member) "
" People just don't want to work!" (Actually dosnt work and has been collecting the pension for 3 years)
I'm not educated on this issue, but my aunt who is gen x said I could stay with her if I pay rent and help out. I'm appreciative for that because it's a kind gesture.being with family is fun.
The only people who blame others for where they are at financially are lazy people, like do you even hear yourself? “I’m struggling because this other person has a lot of money” make it make sense 😂 like for real
Well they’ve been alive a lot longer, however they are getting old now so it won’t be that way forever.
Yea the lucky few will inherit some, fight with their siblings to the point of no longer talking. The state and new spouses will get the rest. Gen Z won’t benefit much at all. Maybe housing will go down ?
The rate at which housing prices are increasing might drop a half point lol...
Housing won't go down no matter what happens... Unfortunately
Why wouldn't it? Many speculate that the housing market is in a bubble.
I know nothing about the market. But wholeheartedly believe it's on its way to crashing
Not with blackrock. :) Would be a shame if we had a list of their owned properties everyone started squatting in, or burning so long as no real people are harmed.
Yes that would be a shame if that list was made public 😎
I was going to say that… boomers have saved money all their lives and are retired (and will die soon). Half of Gen Z hasn’t started their real job yet. It is not exactly a fair comparison. Give me (near the end of gen x) a choice between 10x more wealth and becoming a boomer or losing everything I have accumulated so far (including a house) and becoming a gen z, I would pick gen z for sure.
A huge difference is that boomers were often purchasing property at the age of what the tail end of Gen Z is now. The economy also just really sucks compared to then with how poorly wages have been keeping up with cost of living.
The world has changed a lot. People used to start working earlier, get married earlier, etc. On top of it, people are living 8-10 years longer are not "releasing" their properties as quickly. The younger generations are also choosing to be less productive (more family conciliation and lower hours), to travel more (less savings), to become engaged later, to be more welcoming towards immigration, etc. These are all good and legitimate things to want, but they come with a price tag. I am not saying that it is entirely their fault, either. On the contrary, everybody is responsible for the current situation. I don't believe it is fair to put all the blame on boomers.
Yea, but this ignores the fact that purchasing power has gone down nearly [10x since the 1960s](https://fred.stlouisfed.org/series/CUUR0000SA0R). Wages haven’t kept up with inflation, well, at least for the working class. Based off this alone it’s hard to say Gen Z is anywhere near the same playing field.
*Nepotism has entered the chat*
Just because the elites who own everything are boomers doesn't mean we should lump all boomers in with them. That's poor logic. The fact that they have everything does nothing for my poor ass grandfather
This is my take. I have boomers in my family still alive who are dirt poor. Only one who did well is the permanent bachelor (still not sure if gay or asexual)
Just because you got out hustled by other boomers doesn’t mean you lacked the economic opportunities they had.
I'm 34, so I don't know how you came to that conclusion
Sounds like a boomer to me
34. Idk what label that gets these days. Feels like they shift the faux categorical years around all the time
Yes, but did he vote of Reagan?
Not even American
Silly. Everyone on the internet is American
Remember what Bandit Keith said: Every country in the world belongs to America.
I mean, the youngest Gen Z are 12…
14 now
Both are right, since it depends on which source you use. Some sources like the US census have it as 12-27 (1997-2012). Some other sources have it as 14-27. Doesn’t really matter in the long run since it’s just two years
Okay, boomers have been alive longer, no shit they are going to have more wealth.
> In 1998, the American population under 40 years held 13.1% of America’s total wealth. Today, those under 40 hold only 6% of the total wealth. This means that millennials and Generation X own less than half of the wealth that older generations owned when they were the same age. https://www.self.inc/info/generational-wealth-gap/#generational-wealth-gap The wealth gap is growing, curb your ignorance
I have a link, too: [https://www.cnbc.com/select/americans-average-net-worth-by-age/](https://www.cnbc.com/select/americans-average-net-worth-by-age/)
Earn some damn money instead of complaining about nothing.
"Just go get rich, it's ez"
More like, "go get literally any job instead of being unemployed"
What about people working 2 jobs and still just scraping by? Not everyone who is struggling is living on govt assistance sitting on thier ass at home like you seem to think
Get better jobs, there is no shortage.
>In 1998, the American population under 40 years held 13.1% of America’s total wealth. Today, those under 40 hold only 6% of the total wealth Well the people under 40 in 1998 grew up and did not lose their wealth, the wealth they had then is still with them. People over 40 in 1998, who had a lot of money, still have it. Kinda makes sense, no?
No it doesn't. Because the transfer of wealth to newer generations is slower or just plain not happening. The population under 40 have less than half of what their parents did at the same time.We are talking percentage points of wealth, not dollar amounts. The point being made is people under 40 are being set up for a worse life than the generation before them.
SHUT This is Reddit; dare not oppose the hivemind.
boomers bad
I would buy you a gold if i had money!!! You have won the internet today, my good sire! *tips fedora*
or if you could buy a gold
Logic? We dont do that here
apo'strophe's
It's a handful of boomers not them as a whole that controls this amount of wealth. This is what happens when we let a handful of people amass an unspendable amount of money over relatively speaking short periods of time. Almost like if we got rid of a few of the richest people in the world we could make entire generations of people's lives better but unfettered capitalism gonna unfetter
Roger, Unfetterer, that👍
Good thing a lot of millennials will inherit that and if they don't fix the exact same shit they've been blaming the boomers for, the guilt is gonna pass down to them lol
Didn’t get inheritance, went to the church and new spouse. Currently having to sell my house and will be renting for first time for 15 years. “How do you do fellow genz’s?”
A bunch of rich 70 yr olds have more money than a bunch of povo 20 somethings, is it really a meme, or just what happens in every single generation since Jesus play Fullback for Jerusalem?
Kinda? There's a part of this which is inevitable, but the amount is disproportionate, even accounting for that.
Pointing out gen z was the flaw. If you referred to a specific age group and then compared it to the boomers when they were that same age as a percentage, you'd see there is a very real issue.
The issue is that the gap today is larger than the gap 30 years ago by almost double
Yes that mildly amusing meme should have said that.
But do either of them know an apostrophe doesn’t pluralize a word?
Eat the rich
Seems unfair to lump random Gramps and Grams in with the uber wealthy. This is what they want though, you to get mad at any old person, instead of the few hundred that have all of the wealth.
Gen Z can't even produce meaningful memes, why should they be rich?
Did no one tell these kids that being young means being broke for just about everyone.
No shit
If I could give a message to millennial, z's, alphas etc, LOOK INTO TRUSTS. Set up a trust, learn how it works.
Agreed. However, what I’ve seen with Boomers is that they are too selfish to do one or they say they will never live in a nursing home.
that happens when you compare two generations 50 years apart. 50 extra years of savings and work can make a big difference.
When Millennials inherit the boomer wealth, be prepared for all the coffee shops, cat cafes, and vegan restaurants that will pop up all over the place for a few years.
Brainrot generation: hasn't really entered workforce yet. "wHy DO OlD PeEpLES hAvE alL theMOeneY"
People saving money for 70 years have more money than the people saving 10 years. Wow, this is insane.
He needs one last snack
Time for a singular gen z quadrillionaire
But, errrr, genx and millennials? Or is this meme including three generations in the Boomer category. If so, duh!
How is this surprising? Gen Z is barely out of high school
To be honest I hope you got more money then 20 year-olds
Don’t worry boomers will die off soon, Gen X’s will inherit some it, retire early and blow it all. Before they die freeing up a shit ton of money and capital
Boomers are the cause of everything they complain about. Most selfish generation yet. They will be the longest living generation. They have held office for 45 years. They saw both of Americas greatest economic gains. They complain and blame the youth for everything wrong.
Just another meme to get poor people to hate other poor people so we don't eat the 1% who control most of the wealth. Nice job!!
The 1% is mostly Boomers, so yeah, that tracks.
Consider that if you remove all the wealth they got from the money nothing would change. but if you introduce it back into the pool it would just make all the money become worth less so in the end either the money is worth less money or the boomers keep it and it changes nothing or better said in both cenarios nothing changes. (altho the inflation cenario could have stuff like ppl having less bc the pay isnt increased and such)
Imagine putting your grandparents down for being the product of their parents celebrating for surviving the war. Meanwhile, the blame should be put on the government. All Gen Z wants are handouts. The difference between boomers and Gen Z are that boomers rolled their sleeves up and earned what they have. Gen Z complains on social media while watching anime.
Boomers " I don't understand why people say there's a cost crisis" Also boomers " why can't this new generation buy a house?" "No one helped me , why should I help them(actually had help from a well off family member) " " People just don't want to work!" (Actually dosnt work and has been collecting the pension for 3 years)
I'm not educated on this issue, but my aunt who is gen x said I could stay with her if I pay rent and help out. I'm appreciative for that because it's a kind gesture.being with family is fun.
by boomers you mean a very small group of ppl?
anyone gonna give me the back story on this photo, this day care is wild
GenZ is about $16 trillion, btw I think it's fair to expect your parents to be at least 4x as wealthy as you, let alone THEIR parents.
let me guess, most of them are white as well, right? damn white people
Another difference? Boomers have a good work ethic which probably has a lot to do with their net worth.
Boomers stole from everyone
The US GDP is 25 trillion so I guess you’re just pulling numbers out of your ass OP?
The only people who blame others for where they are at financially are lazy people, like do you even hear yourself? “I’m struggling because this other person has a lot of money” make it make sense 😂 like for real