White Millennials are about to start inheriting a lot of money…

[Originalman]

Where them mfers at dumping on "boomers" saying they fcked up the country? Then I asked them that since every human is a descendant of a boomer, they should be talking about passing down the wealth after they die. It got silent.

The same CACs thats putting batteries in these nikkas backs telling them to quit jobs will be nowhere to be found once they get that inheritance. And to add insult to injury, the millennial CACs gonna introduce automation to the same jobs they convinced people to quit.

All this!

 

[Htrb-nvr-blk-&-ug-as-evr]

This is why the black family unit is important. My dad and my aunt two years ago inherited there mothers house 7 years ago and sold it for 800,000 3 years ago and split that 50/50. My aunt was able to pay off her mortgage and buy an investment condo and made 200,000 on top of that and she's only had it for 2 years. My parents have there house paid off which it's worth a million dollars and my dad is still sitting on that 400,000 and looking to invest in a triplex with me and my brother.

The one key element that explains why black folks are in the position they’re in now and have always been in. You ain’t gaining wealth with a bunch of ratchet single mothers and dusty, irresponsible negroes as your main contingent. Even blue collar brothers and sisters that work together as a family will have something for their kids to inherit…

 

[Conan]

The transfer of wealth from real estate is quantitatively more significant. Not everyone has a trust fund, but 75% of white people own their homes. Homes that have skyrocketed in value during the pandemic. Cac Millenials, despite being a fukk up generation, are about to hit the jackpot.

It's not.

Real estate can only go so far, especially when split up amongst descendants.

Liquid cash is king. Not everyone has a trust fund. But more and more people have 401ks. That will be passed on and will have a greater impact.

 

[Blessings]

Yup

my dad was taking equity out my parents house to use the funds to build a mansion in ghana in a city far from accra that nobody will care to go to when he dies

it’s a damn shame

My parents did the same thing.


A lot of parents are not honest when it comes to their personal finances. The external picture is our parents owned a home for 25-30 years…but they refinanced or made a terrible longterm financial decision.

 

[get these nets]

Interesting, but sad to read about drug use and home loss.

Quiet as kept, in the 70s this is how different parts of the city I grew up in had changes in demographics.
Italians inherited their homes from parents and developed heroin addictions, and eventually lost their homes. There was unofficial agreement by different ethnic groups to not sell to Blacks. But when those junkies had homes foreclosed, Black people purchased them in county auctions.
Old timers told me this when I was a kid.

 

[Rawtid]

The one key element that explains why black folks are in the position they’re in now and have always been in. You ain’t gaining wealth with a bunch of ratchet single mothers and dusty, irresponsible negroes as your main contingent. Even blue collar brothers and sisters that work together as a family will have something for their kids to inherit…

False. Individual mentality sets us back. The single mothers who are my closest friends, own homes, they invest in their kids, etc. Individuals are fukking it up, not lifestyles. There are married couples not about shyt.

 

[Field Marshall Bradley]

Where them mfers at dumping on "boomers" saying they fcked up the country? Then I asked them that since every human is a descendant of a boomer, they should be talking about passing down the wealth after they die. It got silent.

The same CACs thats putting batteries in these nikkas backs telling them to quit jobs will be nowhere to be found once they get that inheritance. And to add insult to injury, the millennial CACs gonna introduce automation to the same jobs they convinced people to quit.

@ all of this

 

[Htrb-nvr-blk-&-ug-as-evr]

False. Individual mentality sets us back. The single mothers who are my closest friends, own homes, they invest in their kids, etc. Individuals are fukking it up, not lifestyles. There are married couples not about shyt.

False. Being raised in broken homes and perpetuating that will result in what you are seeing now. Your anecdotal reply is expected since you’re a single mother. Good for you and your friends, but on the whole a family unit will result in a better outcome for us long term…

 

[NinoBrown]

My parents did the same thing.


A lot of parents are not honest when it comes to their personal finances. The external picture is our parents owned a home for 25-30 years…but they refinanced or made a terrible longterm financial decision.

Bankruptcy, credit card debt, loans, etc...you won't find out until they are dead or incapacitated on what's really going on...

 

[get these nets]

False. Individual mentality sets us back. The single mothers who are my closest friends, own homes, they invest in their kids, etc. Individuals are fukking it up, not lifestyles. There are married couples not about shyt.

Disagree. Your close friends are handling business, but that doesn't disprove or refute the other member's point.

 

[Houston911]

Interesting, but sad to read about drug use and home loss.

Quiet as kept, in the 70s this is how different parts of the city I grew up in had changes in demographics.
Italians inherited their homes from parents and developed heroin addictions, and eventually lost their homes. There was unofficial agreement by different ethnic groups to not sell to Blacks. But when those junkies had homes foreclosed, Black people purchased them in county auctions.
Old timers told me this when I was a kid.

never heard about this

this was in New York?

 

[Originalman]

This is another issue; mfs wanting quick money. My brother did the same with my dad's property...sold that hoe for the cheap when at the time he could have gotten 3-4 times as much even after the sibling split. Ignorance really sets us back.

My whole father side are some duds for real. My aunts and uncles lost my grandfather's property through general negligence and refinancing. 3 adults working, living in a paid for home, refinance and decide they don't want to pay it NOR they yearly taxes due on a home. You're talking probably $20k in housing costs a year, 3 full-time, state government jobs and nothing. Still pisses me off.

Mothafukkas don't want to hear it. But some of these jokers (gen X, Millennials and Zoomers) just lazy and trifflin. One of my close older counsins passed away about 4 years ago and before she died she asked me to make sure her only child (son who is a zoomer) had somewhere to stay. Dude had been in trouble and was cleaning up his life. I loved my older cousin cause she always was there for me so I told her cool.

So she dies and my younger cousin (her son) had no where to stay. I put him up in one of my rental properties to stay in till he gets on his feet. Even though he had a little minimum wage job I tell him. Hey just give me 200 bucks a month and you can stay here. Lights and water included.

Do you know that mothafukka couldn't even give me the 200 bucks a month. Not only that this mothafukka was slanging dope out my property (without me knowing) and ran off with the plug on one dope boy. Dope boy came by and shot in the house twice. Eventually the next day my cousin was arrested for some outstanding warrant and spent 6 months in jail. Do you know this fool called when he got out asking could he stay in my rental property again....man I hung the phone up on this fool and told him to don't call me again.

 

[get these nets]

never heard about this

this was in New York?

Newark, NJ

 

[Rawtid]

Disagree. Your close friends are handling business, but that doesn't disprove or refute the other member's point.

It's crazy to pinpoint to responsibility to a relationship status. A lot of married couples don't do shyt to shore their finances either. It's individual effort at this point.

 

[Wildhundreds]

All this!

If you're black and never seen siblings and relatives fight over dead people belongings, you're definitely a kid and shouldn't be in these type of discussions.