Lucky for me my parents were both "I didn't save anything for retirement, my kids will take care of me when I'm older", so I don't have to suffer through this.
Guys, don't buy into this. This is class warfare. This is the billionaire class trying to get young people angry at their parents instead of young people angry at the billionaires who are stealing from us all the time.
Especially since it's the billionaires ending SS
It would be the billionaires stealing the inheritance in this case. Just another trick to siphon money upwards.
In other words, the rich are eating the middle class. They will buy up all property and normal people will be permanently priced out of the market. They have no reason to sell.
Make a boomer leisure business, lazy children. EZ.
And that is there choice, and most of what's left over will go into their care home expenses anyway, that'll drive them bankrupt either way.
My mother was a wonderful person, poor, and a boomer. She never had anything handed to her. We need to stop shitting on specific generations (it's a distraction ) and target our hate towards the class divides between us instead.
Yes... That is their money. They should spend and enjoy it.
They also voted for Bush II's wars with money borrowed from a generation that couldn't vote yet.
I'm just thinking about my own experience, but my parents are blue collar Democrats, so no they didn't. They just worked hard their whole lives and are enjoying their well earned retirement.
Boomers are a large group of people, hence the name, from diversified backgrounds. I believe people are trying to start a generational war where we need a proper class war.
Yah! Refocus!
I wouldn't go that far, but I see little evidence that young people deserve it more.
Lemmy seems to be pretty mad about their allowance, basically. It's weird, usually the vibe is more that everyone else works at a FAANG.
Honestly, my mother, born 1961, received $250K in 2000 when my great grandparents passed. my grandmother, has always bought things for my mom: cars, car repairs, her insurance, grocery shopping, and a few vacations over the years.
My mother has not so much as ever taken me shopping, not even when I was a kid. My other parent, the broke one, bought us everything. My mom, did stretch her inheritance pretty far, but only because her parents helped her out with month to month stuff. It annoys me to no end.
She's spent the last 15 years convincing my grandmother, her mom, to spend it all. And she has. For me, two generations ago my great grandparents (second Gen immigrant) had accumulated over a million dollars in straight cash.
I'll get nothing. If my family actually had love there- if my mother actually took care of me and her other children, I wouldn't be mad, id understand. That's not how it went down. My mom spent every, has nothing but a new car left now, the last thing my grandmother bought her, the inheritance gone and she's now a part time babysitter, after not working 30 years. She was on disability too, this whole time, my entire youth, for get this- mental health. I got to therapy every week still to this day to address my childhood and continued struggles, the same as she did, but she got disability in the 90s when everyone could sign on easily it seems. Her whole life paid for.
I haven't spoken to her in closet to 7, 8 years now. I can't imagine my story is unique when it comes to the subject.
My husbands parents are the opposite of my mother, both types of people exist but it's infuriating to go through what I have with my family. To literally watch your "generational wealth" get flushed.
That is their money.
In 2022, 65% of people ages 65 to 74 had debt, up from 50% in 1989. In 2022, 53% of households headed by someone 75 or older had debt, compared to 32% in 1992.
In fairness, this article is pure bait. It neglected the rising cost of living for people on fixed incomes and treats these draw downs on savings as a frivolity, rather than a consequence of inflation on senior care and medical needs.
But liquidating household assets via instruments like reverse mortgages and loans against large savings accounts and pensions can mean saddling your children and grandchildren with big debts even after you're gone.
Yeah, the money is mostly spent on medical care, getting scammed and retirement homes. Capitalism is making sure all that money goes to the 1% before it ever gets to you.
Probably the rest of us won’t last much longer than them now anyway.
It's not their money. It's rent money they stole from the next generations by being parasites hoarding property as an investment.
My parents worked hard all their lives and have had very little to show for it. As much as I didn’t realise it at the time, I never really wanted for anything, but I’m sure my parents skipped meals on occasion.
Now they’re retired they have a bit of money from state pension and superannuation funds, as well as a bit my mum inherited from her parents. It’s still not a lot, but they’re able to live in the comparative luxury they always deserved.
A couple of year back they splurged and took a trip to the UK, which had been on their bucket lists since before I was born. They seemed to feel like they had to explain why they were spending the money, and I reassured them that it was their money, not mine.
My wife and I are in good, stable jobs and we don’t need their cash. Let them enjoy themselves while they still can.
I think pretty much everyone agrees with your take here. People are just saying that if kids are struggling and parents can afford it, it's weird for the parents not to help out financially.
Obviously the circumstances matter and if the kid is struggling because they're lazy or a drug addict you don't want to enable that but if they have their own kids and are working full time I would always support my kids financially if they needed that and I was able to.
Obviously the circumstances matter and if the kid is struggling because they’re lazy or a drug addict
Trying to explain to a guy with chronic back pain that the relief he's seeking is self-indulgent and the time he's spending plotting the death of a CEO could be better spent building a new kind of online gambling website.
if the kid is struggling because they’re lazy
We're talking about 40 year olds.
And what a convenient excuse to call anyone struggling lazy. So many lazy people with full time jobs that don't pay enough to pay boomers their inflated rents. Must be drugs.
I'm not saying all people who struggle are lazy. Quite the opposite.
That and my parents will likely be alive longer than me anyway.
My grandparents from one side of the family left me nothing, and the other side left two weeks rent. I know the direct descendants come first but at least give the grandkids 15% or something, it would have helped so much. We're all working twice as hard to afford half the lifestyle our parents had
Unless things go terribly wrong (and they might) my daughter stands to get a second house and a quarter of a million $
No offense my guy but a quarter mill and a house will probably be easily eaten up but your end of life care. Regardless I hope you have that set up in a trust for your daughter so she doesn't have to pay taxes on it if there is something left.
"End of life care" is entirely optional. I'm not going to waste away in a hospital bed, that's for sure.
Well in that case get a good life insurance policy and read the fine print when you're figuring out how to "opt out" of that end of life care
Yo, all I asked for was for them to keep me alive long enough so that I can too become a productive member in society. They owe me nothing.
Reading this thread, I feel like having a nice rant:
"Waah, all our problems are caused by the boomers! They're all rich and selfish, they had the easy life and got all the money and the houses and ruined the environment while our lives were ruined!" Keep believing that and stay distracted! while the oligarchy laughs it's ass off at you.
Pay no attention to all those poor boomers who could never get a house, who are scraping to get by--those are the exceptions that prove the rule, they must have been especially lazy or stupid boomers, if they're not rich like the vast majority of boomers! Yeah, that's it.
Pay no attention to the corporations that have bought up all the housing so they can rent it to you at any price they like, that has nothing to do with housing costs--it's the boomers who were too selfish to leave you their house when they died who are to blame! Yeah, that's it.
Pay no attention to the oil companies and big corporations that control congress to keep their profits private and costs socialized so they can spew their effluent into the environment as the world burns and the ice caps melt, it's the boomers' fault! Boomers only started the environmental movement and demonstrated and pressured the government into creating the EPA, Clean Air Act, and many more, but so what, all the bad things are still their fault.
Stay distracted! Keep believing what you're told and blaming who you're told to blame as you get older and older and the boomers all die, and then enjoy how Gen B and Gen C, etc. hate you and rail against you and blame you for all their problems. Why didn't you--yes you! stop global warming? You could have, but you didn't give a fuck. You who had it so easy, living your selfish life with your fresh water and electricity and air conditioning and video games and all those nice things, while their lives were ruined? It's all your fault!
Never the oligarchs, though. Not them.
[I can also do another version of this for the right wingers, substituting immigrants for boomers].
Yeah, I know of plenty of boomers that have had to delay retirement because they simply didn't have enough money. I've known several that finally retired, late, then passed away a few months later. Never got the chance to enjoy retirement at all.
My parents were working part time jobs, instead of relaxing and enjoying retirement, until a few years ago. Those jobs were having obvious effects on their health and well-being, too; I was convinced at least one of them was going to pass away before long. Fortunately, they're now in a position now where at least they don't have to work - but my brothers and I sent them money to replace their HVAC system when it died a few months ago, so it's not like they're rolling in dough or will leave us some huge inheritance.
How much would it suck to get to 70 and realize you still have to keep working? I mean, if you enjoy it and want to keep working, great, go for it. But to be forced to do it? That would suck. It doesn't matter what generation you are.
I eat far too much avocado toast to save for retirement or college. I'm happy to spend my twighlight years drinking myself to death under a highway overpass.
Yeah my parents:
explicitly told me they're giving me nothing
told me they'd give my hypothetical grandchildren something because (and I cannot express to you enough that they explicitly stated this OUT LOUD WITH WORDS) that they would love the grandchildren more than me. My mother has talked to me at length about how she already likes these people that don't exist more than me.
Are constantly critical of my appearance. When I tried to wear makeup as a child they didn't want me to look "promiscuous" (because somehow using an SAT word makes it ok to tell your 10-year-old they look like a whore). My mother was constantly critical of how short clothing looked on me because I was so tall or how my chest looked in shirts because it was too big. Now that I've gotten those tits removed and I dress more masculine even though I never even really "came out" as anything because I just don't care enough about gender that's also not ok because I'm not acting my gender.
They don't comfort me when I'm upset. They either tell me I'm upset about something stupid or say that I should be worried about more other things. I worked in Healthcare while in nursing school through the first half of COVID them graduated mid-pandemic and every time I'd mention stuff about how broken our Healthcare system is they'd want to have a "fun debate" about MAGA shit then make fun of me for getting emotional. One time I was sitting suicide watch because a guy kept ripping the ventilator mask off and begging me to let him die. The only thing that got him to keep it on was me summing up the plots of the last five books I read because after the first four hours I ran out of things to talk to him about to keep him distracted. Y'all. They thought my PTSD flashbacks were funny.
My parents are both rocket scientists but they're not sending people to the moon or Mars. I don't know how they reconcile a belief in Jesus with arms dealing but I'm pretty sure those dead Palestinian kids are paying for my nursing degree.
Anyway I unloaded the exact content of all those PTSD flashbacks on them, told them their voting choices were going to lead to them dying in a ditch full of maggots, then dumped all the shit my whole family talk behind each other's backs in the groupchat and changed my phone number. Its been a year and I haven't felt the need to drink since.
Love me? You don't even like me. Die alone, assholes.
Sir, this is a Wendy's.
My mom is "choosing" to spend it at a retirement home because we can't have her live with us and my brother is an asshole. And honestly, I'd rather have her spend her last years in comfort (we won't even be in the same country) than get some windfall when she dies.
Retirement homes aren't cheap. She's in her early 80s, but both of her parents lived until their 90s, so I'm guessing there won't be much of any inheritance left over.
My mother told my wife that if my father passes away first, she wants to go live in a home, not with us or my brothers (great, because I do not think her living with us would go very well). But of course the unspoken question was, "Is there money for that?" Given we just gave them money to fix their HVAC, I doubt it. So is the plan that my siblings and I are going to pay for it? It'd be nice to know so that we could plan...
And, of course, Medicare does not cover assisted living. My mom is not fabulously wealthy, but it sounds like she'll have enough to make it. Good luck to your parents.
This is a bad faith take that only reflect the experiencs of the wealthiest boomers. There are elderly people struggling with Medicare and social security being cut. Remember, there's not an age war, there is a class war.
The people who are cool with this going "why shouldn't my parents enjoy what they made, why would you want anything you didn't work for?" are sort of missing the point. The real phrasing, that they probably would agree with, is "why should I support my children and future generations, my enjoyment is more important than their survival and secured future"
If you really think that you should only get what you work for, give back every Christmas or birthday present or any gift you've gotten or are getting in the future immediately. Turn down any bonus you get at work. Hell start paving your own roads.
Supporting others, especially family, is a good human trait, and shouldn't be erroded.
Also they will spend it on expensive overpriced healthcare they voted for.
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