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.
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.