On generations...
The Greatest Generation
Baby Boomers
Gen X
Millennials
Gen Z
Alphas
Just to start the ball rolling, look at this stat. In the world of economics/finance, using figures in today's dollars, Baby Boomers inherited a total of $4 trillion in wealth and will pass on a total of $84 trillion to our heirs. This is the greatest transfer of wealth in history and it will probably never be equaled again between generations. According to economists, given the attitude of younger people toward work, investing, etc. there will never, ever be such a transfer of wealth again.
For me, personally, I work every day, every frickin' day, including weekends, looking for ways to increase my (our) wealth, not because my wife and I need it, we have more than we can spend already. I do it for my kids and now my 5 grandkids. Let me quickly add this is no task for me, I actually enjoy it, I love it! Reading stock prospectus, choosing stocks/ETFs to invest in. It's a hobby and I enjoy it. But, my kids and grandkids, and of course great grandkids, not even born yet, will all benefit from it.
But, kudos to we Baby Boomers, #1 in wealth accumulation and will be sharing it with future generations. On behalf of all Boomers everywhere, I say, you're welcome.
Baby Boomers
Gen X
Millennials
Gen Z
Alphas
Just to start the ball rolling, look at this stat. In the world of economics/finance, using figures in today's dollars, Baby Boomers inherited a total of $4 trillion in wealth and will pass on a total of $84 trillion to our heirs. This is the greatest transfer of wealth in history and it will probably never be equaled again between generations. According to economists, given the attitude of younger people toward work, investing, etc. there will never, ever be such a transfer of wealth again.
For me, personally, I work every day, every frickin' day, including weekends, looking for ways to increase my (our) wealth, not because my wife and I need it, we have more than we can spend already. I do it for my kids and now my 5 grandkids. Let me quickly add this is no task for me, I actually enjoy it, I love it! Reading stock prospectus, choosing stocks/ETFs to invest in. It's a hobby and I enjoy it. But, my kids and grandkids, and of course great grandkids, not even born yet, will all benefit from it.
But, kudos to we Baby Boomers, #1 in wealth accumulation and will be sharing it with future generations. On behalf of all Boomers everywhere, I say, you're welcome.