Black people won't be a part of this by and large, so I can care less about a bunch of spoiled crackers and their money.
fukk em.
fukk em.
White Millennials are about to start inheriting a lot of money…
- Thread starter SnugglesDaBear
- Start date
Good article, thanks for sharing. However the next 30-40 years could be a lot more volatile with inflation, rising US debt, AI-driven automation, etc. The government and Fed won't be able to bailout and stimulate markets to the same extent without rising massive inflation. That could result in many assets like stocks, housing, etc becoming extremely volatile and losing value rapidly like in the 70s. Time will tell.
Wargames
One Of The Last Real Ones To Do It
You need to watch Toine talk.
home ownership is the gateway to generational wealth. Always has been.
As it stands right now, my wife and I's 2 sons stand to inherit:
1) Wife's mother's place
2) Wife's mother's aunt place in downtown Charleston SC that mother in law received
3) Wife's father's home (currently in the will going to my wife' sister but she has no kids and has our 2 sons as her beneficiaries for all her shyt)
4) Wife's father's parents place out in the country (land and home) where her father is in sole control of (bought out his siblings). My wife already is on the deed and in her dad's will to receive it
5) My mom's home
6) Whatever properties and monies my wife and I have
Gotta teach them how to manage it and not give shyt away. Lease/rent the properties and invest the monies they receive.
As it stands right now, my wife and I's 2 sons stand to inherit:
1) Wife's mother's place
2) Wife's mother's aunt place in downtown Charleston SC that mother in law received
3) Wife's father's home (currently in the will going to my wife' sister but she has no kids and has our 2 sons as her beneficiaries for all her shyt)
4) Wife's father's parents place out in the country (land and home) where her father is in sole control of (bought out his siblings). My wife already is on the deed and in her dad's will to receive it
5) My mom's home
6) Whatever properties and monies my wife and I have
Gotta teach them how to manage it and not give shyt away. Lease/rent the properties and invest the monies they receive.
Last edited:
Home ownership definitely has been the gateway to wealth for decades, but that's not guaranteed in the future. The rise in asset prices since 1980 has been fueled by massive increase in debt. It's unsustainable. Imagine if we had the '08 financial crisis and 2020 Covid financial crash and the government's hands were tied as far as intervention. Things would look a lot different right now.
Inheriting homes already paid for is different. Keep it up, pay the taxes, rent/lease if you don't live there and eat
Last edited:
beenz
Rap Guerilla
if they don't wanna deal with that, they can liquidate the assets and put the money into investments as well. nothing wrong with either option.
It comes in the form of property.
If you want your kids to win, instead of cashing out, pass down land and buildings to them.
If you want your kids to win, instead of cashing out, pass down land and buildings to them.
Godless Socialist CEO
Superstar
With what money
I make solid money and I cannot afford land or a house in the state of Florida currently without putting myself in a crazy amount financial danger and stress
Rather them keep the ones they get from their grandparents. If they wanna sell a property, they can sell the one my wife and I have and use that for investing.
The ones our parents own (forgot my mom's spot) are very valuable in the locations they are located in and the residual income literally could have them not working if they play their cards right.
Cakebatter
All Star
I'm surprised but not surprised that the article doesn't talk about the Silent Generation who had the highest rate of home ownership, but mostly bought their homes in the midst of Redlining Rules. My parents are of that generation and were not able to buy a home in certain neighborhoods or suburbs of Detroit. Therefore the asset they pass on is worth less than their White counterparts. So while the article focuses more on the racial disparity of home ownership amongst Baby Boomers, even if it were the same amongst the Silent Generation, you'd still end up with a disparity of generational wealth being passed down.
With what money
I make solid money and I cannot afford land or a house in the state of Florida currently without putting myself in a crazy amount financial danger and stress
I shouldn't clarify, that's what boomer and Gen x parents should have or yet should do
Godless Socialist CEO
Superstar
My bad, I get what you're saying now. Thought you were talking about Black Millennials.
Oh no brother, I know we gotta play a fukked up hand because of the bs that came before us