Well this makes no sense to me. I am a boomer and I dont have any wealth so what boomers are you talking about?
My next questions would be what are you doing just stealing money from boomers to give to their lazy kids?
I thought if they were going to take money from people it would be the rich and corporations that stole a lot of money from people why would they take it from boomers.
I am a boomer and I know lots of boomers that have no money at all.
I dont have any debt though so I guess thats a good thing.
Yeah, inretired from the navy and then a second career in law enforcement then an abbreviated 3rd career of bomb dog contracting in Iraq and Afghanistan. I have a small nest egg of precious metals. Collect my mil pension, SS amd my wife gets SS because she busted her ass for 35 years working and raising 4 kids. I own my home a double wide worth less than 100k and have little to no debt. No toys, no new vehicles. My income is very good situated as I am so we are able to travel, eat out if we want biut nobody would call me rich. Just frugal. Last week infinally replaced my 2 year old running shoes. Gimme a break because we earned every nickel. My kids all work hard and are doing well ages 25 to 33. They dont seem to be grudge us anything. When their mom and I are dead in 30 years they get it all. My dad died dirt poor. Quit trying to sow division with this childish mentality
You have the right attitude. A lot of people in your position are spending it all on "toys" they do not own, living recklessly and spending wastefully. Maturity should bring the ability to enjoy and live life the way you do. The idea that if you got sick or in accident, your kids are set, they will miss you dearly but life will get a little bit easier too.
He’s referring to inheritances. Many boomers are in their late 70’s and 80’s and are in the process of estate planning. Not most, but a good chunk of them have a material amount of assets. Particularly property which has skyrocketed in value over their lifetime. Collectively this will amount to over $80 trillion changing hands in the next decade. Buffet is basically saying people should have a plan and have the tough conversations right now. Don’t expect that things will just sort themselves out after the fact as there are consequences for tax and family dynamics. He's right.
I have ife insurance so my wife can love if I cack early and she will have the means for long term care so my kids won't have to worry about her even though they will, It won't burden them.
Very few have money regardless of generation. Wife and I are a damned if you do, damned if you don’t situation regarding going back to school. School is so fucking expensive but we need to do something to make more money to afford kids.
Find a service you can provide even if it's cleaning windows. Anything others can't or won't do for themselves can make you money amd sometimes lots of it.
Learn how to day trade. That is basically self education. Get on forums and ask question on what strategies are out there. Pick one you understand and follow the process. Always follow the process and make trades according to the plan you have put in place. Never stray. You can make a living or make extra money doing this. Just a thought. But educate yourself first and use simulators to practice with fake money. Webull for example has a free simulator. Good luck.
Well this makes no sense to me. I am a boomer and I dont have any wealth so what boomers are you talking about?
My next questions would be what are you doing just stealing money from boomers to give to their lazy kids?
I thought if they were going to take money from people it would be the rich and corporations that stole a lot of money from people why would they take it from boomers.
I am a boomer and I know lots of boomers that have no money at all.
I dont have any debt though so I guess thats a good thing.
Yeah, inretired from the navy and then a second career in law enforcement then an abbreviated 3rd career of bomb dog contracting in Iraq and Afghanistan. I have a small nest egg of precious metals. Collect my mil pension, SS amd my wife gets SS because she busted her ass for 35 years working and raising 4 kids. I own my home a double wide worth less than 100k and have little to no debt. No toys, no new vehicles. My income is very good situated as I am so we are able to travel, eat out if we want biut nobody would call me rich. Just frugal. Last week infinally replaced my 2 year old running shoes. Gimme a break because we earned every nickel. My kids all work hard and are doing well ages 25 to 33. They dont seem to be grudge us anything. When their mom and I are dead in 30 years they get it all. My dad died dirt poor. Quit trying to sow division with this childish mentality
I’ve had my shoes since 2019. They are still in good condition
Thank you for serving in the navy.
You have the right attitude. A lot of people in your position are spending it all on "toys" they do not own, living recklessly and spending wastefully. Maturity should bring the ability to enjoy and live life the way you do. The idea that if you got sick or in accident, your kids are set, they will miss you dearly but life will get a little bit easier too.
He’s referring to inheritances. Many boomers are in their late 70’s and 80’s and are in the process of estate planning. Not most, but a good chunk of them have a material amount of assets. Particularly property which has skyrocketed in value over their lifetime. Collectively this will amount to over $80 trillion changing hands in the next decade. Buffet is basically saying people should have a plan and have the tough conversations right now. Don’t expect that things will just sort themselves out after the fact as there are consequences for tax and family dynamics. He's right.
Exactly. It’s not so much cash or investments, it’s the house and other property. That includes the gold and jewels I bought my wife over the years.
And insurance payouts.
I have ife insurance so my wife can love if I cack early and she will have the means for long term care so my kids won't have to worry about her even though they will, It won't burden them.
Actually, boomers are between 60 and 77 years old.
Very few have money regardless of generation. Wife and I are a damned if you do, damned if you don’t situation regarding going back to school. School is so fucking expensive but we need to do something to make more money to afford kids.
Fuck day trading. It takes years to master and you'll lose more than just your shirt.
Find a service you can provide even if it's cleaning windows. Anything others can't or won't do for themselves can make you money amd sometimes lots of it.
Learn how to day trade. That is basically self education. Get on forums and ask question on what strategies are out there. Pick one you understand and follow the process. Always follow the process and make trades according to the plan you have put in place. Never stray. You can make a living or make extra money doing this. Just a thought. But educate yourself first and use simulators to practice with fake money. Webull for example has a free simulator. Good luck.
You have to consider the source.
Right, we spent all the money our parents left us & now we'll take care of ours. 🤣🤣🤣KIDS😮😭