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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.
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!
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.
And you have the option to do the same, or you don't, its up to you
You're right, oblivious rich 20 year old. Everyone can be a landlord.
Oblivious .ml account
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.