552
The 'wealth transfer' from boomers won't save Gen X and millennials
(www.nbcnews.com)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 30 Dec 2023
552 points (97.3% liked)
News
23361 readers
3534 users here now
Welcome to the News community!
Rules:
1. Be civil
Attack the argument, not the person. No racism/sexism/bigotry. Good faith argumentation only. This includes accusing another user of being a bot or paid actor. Trolling is uncivil and is grounds for removal and/or a community ban. Do not respond to rule-breaking content; report it and move on.
2. All posts should contain a source (url) that is as reliable and unbiased as possible and must only contain one link.
Obvious right or left wing sources will be removed at the mods discretion. We have an actively updated blocklist, which you can see here: https://lemmy.world/post/2246130 if you feel like any website is missing, contact the mods. Supporting links can be added in comments or posted seperately but not to the post body.
3. No bots, spam or self-promotion.
Only approved bots, which follow the guidelines for bots set by the instance, are allowed.
4. Post titles should be the same as the article used as source.
Posts which titles don’t match the source won’t be removed, but the autoMod will notify you, and if your title misrepresents the original article, the post will be deleted. If the site changed their headline, the bot might still contact you, just ignore it, we won’t delete your post.
5. Only recent news is allowed.
Posts must be news from the most recent 30 days.
6. All posts must be news articles.
No opinion pieces, Listicles, editorials or celebrity gossip is allowed. All posts will be judged on a case-by-case basis.
7. No duplicate posts.
If a source you used was already posted by someone else, the autoMod will leave a message. Please remove your post if the autoMod is correct. If the post that matches your post is very old, we refer you to rule 5.
8. Misinformation is prohibited.
Misinformation / propaganda is strictly prohibited. Any comment or post containing or linking to misinformation will be removed. If you feel that your post has been removed in error, credible sources must be provided.
9. No link shorteners.
The auto mod will contact you if a link shortener is detected, please delete your post if they are right.
10. Don't copy entire article in your post body
For copyright reasons, you are not allowed to copy an entire article into your post body. This is an instance wide rule, that is strictly enforced in this community.
founded 1 year ago
MODERATORS
I'm Gen X with an adult daughter.
I have never received a penny from a deceased family member and have watched too many people getting into nasty fights over the crumbs left by their recently departed loved ones.
It's become a life priority to leave my daughter a clean estate, with no debt encumbrance, and no possibility for any other person to get at it.
At present, if I were to take my leave from this mortal coil today, she would net roughly $300k.
Part of my plan is to get everything out of my estate and into her hands before healthcare takes it all. Fuck them.
The irony here is that she won't need it. She's done well for herself. I anticipate that when it's my turn to shake hands with the devil, she'll more likely than not use the proceeds for some charitable pursuit.
The point is that I want her to make that choice rather than giving some doctor his semi-annual Ferrari that he'll drive for six months then dispose of.
I know two people now who've had their father leave everything to a new spouse of a few years (the biological mother had passed away in both cases already) thinking the new spouse will take care of his children with it.
One set of children didn't fight it, and the other is considering fighting it as it's recent.
One spouse didn't help the children and one is acting like she won't.
So thank you for ensuring your daughter will be taken care of.
Kick ass. I’m gen x with 2 young kids and this is pretty much my plan.
Gen X as well, and never expected an inheritance. That just seems so wrong to be looking forward to a loved one passing. When my Mom brought it up, my brothers and I each said individually that her savings are for her, not to leave us.
My teens may be too young to think in those terms but their best bet is for me to kick off now while they’re in college and I have huge life insurance to cover that. I’ve never talked in terms of leaving an inheritance and am certainly more worried about how to afford living out my retired years
Yep. Same here. That said, both of my parents are already deceased, and I don't have anything to show for it, which is fine, since I never expected anything in the first place.
I'm going to try to do better for my daughter.