Buckly
5 year old buck +
I thought us boomers had all the wealth?
Stock Market is the bottom in?
- Thread starter Peplin Creek
- Start date
Brian662
5 year old buck +
I'm not sure where you're going with this, but that's quite the red herring.
Buckly
5 year old buck +
Maybe they secretly came to an agreement? If Powell doesn’t start lowering then I see Trump not taking it too well. I think it’s going to be a “YOUR FIRED” moment. LOL. More than likely Powell will just step aside. He doesn’t seem to take pressure well.
Brian662
5 year old buck +
Great question, everyone is (should be) responsible for themselves, IMO. We both unfortunately know it doesn't work that way.
I have family that I was surprised could afford two kids but they didn't stop until they had five. I'm far from a bleeding heart, but I don't want to see their kids go hungry if dad or mom loses their job or gets a laid off. Point being, American families are already strapped after the last round of inflation, there aren't many prepared for another round with unemployment on top of that.
Buckly
5 year old buck +
No red herring. I was to believe out of all generations that the boomers were the best situated financially. Is that not true?
Brian662
5 year old buck +
Are We in a Baby Boomer Retirement Crisis?
Research paints a gloomy picture of how prepared many Baby Boomers are for retirement.
No, it's not true. This (baby boomer) is the first generation in a long time that mostly doesn't have a pension to fall back on. They often weren't disciplined enough to save via tax sheltered retirement vehicles (or couldn't afford it), and it's going to be a major crisis. Numerous articles and sources out there stating this very thing. It's got the possibility of getting very ugly for them.
Buckly
5 year old buck +
I’m not sure if you’re serious but, Baby boomers are by far the wealthiest generation. There is endless data. But from US. News and World report.
If you're in this age group, you may have purchased a home and paid off your mortgage, received an inheritance from relatives and saved money early and consistently.
“A basic reason for this generation’s wealth is that they’ve benefited from the time value of money and reinvesting the interest,” says Jay Pelham, certified financial planner and president of Kaufman Rossin Wealth in South Florida.
"If people earned and saved and invested the same percentage of their income for 20 years or more, they’ve accumulated more than someone who has done this for five or 10 years,” he says.
Another reason for this generation’s wealth is owning and then selling a successful business. “We see this with baby boomers quite a bit,” Pelham says.
Wealthiest Generation: Baby Boomers
According to the Federal Reserve data, baby boomers – people born between the 1946 and 1964– win the top spot for the wealthiest generation in the U.S. In aggregate, their total net worth is $78.55 trillion.If you're in this age group, you may have purchased a home and paid off your mortgage, received an inheritance from relatives and saved money early and consistently.
“A basic reason for this generation’s wealth is that they’ve benefited from the time value of money and reinvesting the interest,” says Jay Pelham, certified financial planner and president of Kaufman Rossin Wealth in South Florida.
"If people earned and saved and invested the same percentage of their income for 20 years or more, they’ve accumulated more than someone who has done this for five or 10 years,” he says.
Another reason for this generation’s wealth is owning and then selling a successful business. “We see this with baby boomers quite a bit,” Pelham says.
Buckly
5 year old buck +
USA facts.org.
Baby boomers have the highest household net worth of any US generation.
Defined by the Federal Reserve as being born between 1946 and 1964 (currently in the ages between 59 and 77), baby boomers are in often in the sunset of their career or early into retirement.
Their higher net worth is expected: with most baby boomers financially planning for at least a few more decades, they benefit from wealth earned from long careers and have more robust retirement accounts than the silent generation, who have dipped further into retirement savings.
The silent generation (born before 1946) has the second-highest net worth (or assets minus liabilities) at around $1.29 million per household, followed by Generation X (born between 1965 and 1980) at $1.11 million per household. Millennials (born after 1980) are the generation with the least wealth. (The Federal Reserve does not have data on Generation Z yet.)
Baby boomers have the highest household net worth of any US generation.
Defined by the Federal Reserve as being born between 1946 and 1964 (currently in the ages between 59 and 77), baby boomers are in often in the sunset of their career or early into retirement.
Their higher net worth is expected: with most baby boomers financially planning for at least a few more decades, they benefit from wealth earned from long careers and have more robust retirement accounts than the silent generation, who have dipped further into retirement savings.
The silent generation (born before 1946) has the second-highest net worth (or assets minus liabilities) at around $1.29 million per household, followed by Generation X (born between 1965 and 1980) at $1.11 million per household. Millennials (born after 1980) are the generation with the least wealth. (The Federal Reserve does not have data on Generation Z yet.)
Buckly
5 year old buck +
Who has the most in assets?
Baby boomers also have the most assets per household, followed by the silent generation, Generation X, and millennials. As for asset components, baby boomers have the most in retirement savings, as many people of the generation have not yet retired or been retired for very long. They also have slightly more than the silent generation in stocks and real estate.Generation X and millennials are still building their wealth. Millennials in particular have little wealth in stocks and mutual funds, averaging around $18,000 per household. Many also do not own real estate, an asset area traditionally used to build wealth.
Baby boomers have the most in assets, with fuller retirement funds and more wealth in stocks and real estate.
Buckly
5 year old buck +
Money Magazine.
Despite railing against the trappings of mainstream capitalist America in the ‘60s and ‘70s, baby boomers went on to trade their bohemian headbands for suits, ties — and blossoming investment portfolios.
Boomers, which were born between 1946 and 1964, have now become the “wealthiest generation that has ever lived,” according to a new global wealth report from the financial firm Allianz. And it doesn’t look like subsequent generations are going to be able to dethrone them anytime soon.
How boomers got so rich, Allianz’s analysis shows, has less to do with financial prudence and more to do with the luck of the draw.
“A unique historical situation — strong economic growth, affordable housing markets and booming equity markets — allowed them to build up a handsome fortune,” Allianz researchers wrote.
Despite railing against the trappings of mainstream capitalist America in the ‘60s and ‘70s, baby boomers went on to trade their bohemian headbands for suits, ties — and blossoming investment portfolios.
Boomers, which were born between 1946 and 1964, have now become the “wealthiest generation that has ever lived,” according to a new global wealth report from the financial firm Allianz. And it doesn’t look like subsequent generations are going to be able to dethrone them anytime soon.
How boomers got so rich, Allianz’s analysis shows, has less to do with financial prudence and more to do with the luck of the draw.
“A unique historical situation — strong economic growth, affordable housing markets and booming equity markets — allowed them to build up a handsome fortune,” Allianz researchers wrote.
Brian662
5 year old buck +
I think both what you and I are saying is true. Of course they're the "richest" generation, just like the generation that follows them will surpass their wealth in aggregate. That doesn't change the fact that 2/3 of them are woefully unprepared for retirement and these market hiccups won't help them better achieve independence. Like @Mortenson said, they made their own personal decisions and should be accountable for them, no matter how it shakes out.
