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Old 05-03-2021, 04:32 PM  
BucEyedPea BucEyedPea is offline
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Millennials Will Become Richest Generation In American History

As Baby Boomers Transfer Over Their Wealth
So stop ye'r whinin'. You will be able to pay off your college debt afterall.

A study shows that Millennials will hold five times as much wealth as they have today and the group is anticipated to inherit over $68 trillion from their Baby Boomer parents by the year 2030. This will represent one of the greatest wealth transfers in the modern times. ...

There are approximately 618,000 Millennial millionaires, according to WealthEngine data, as part of a study compiled by real estate firm Coldwell Banker. Millennial millionaires make up approximately 2% of the total U.S. millionaire population. The majority of Millennial millionaires have a net worth that ranges from $1 million to $2.49 million and fall between the ages of 34 and 37. Due to inheritances, trusts and estate planning, there will be a steady flow of Millennials getting very rich soon. Since the Millennial generation is smaller than the Boomers they're inheriting from, the wealth handed down will be highly concentrated. Ironically, this could contribute to increasing wealth inequality. [So will you still be for socialism or selfish and greedy capitalists?]

https://www.forbes.com/sites/jackkel...h=5fe9743a6c4b
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Old 05-04-2021, 03:41 PM   #76
cosmo20002 cosmo20002 is offline
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Originally Posted by vailpass View Post
So people shouldn’t care about a principle if it doesn’t affect them directly?
I don't know what that has to do with my post which merely stated the exemption amount, but I'm guessing your principles here are largely based on faulty information.
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Old 05-04-2021, 04:04 PM   #77
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Originally Posted by vailpass View Post
So people shouldn’t care about a principle if it doesn’t affect them directly?
This is actually one of those slippery slope things anyways. I have been witness to numerous liberal conversations that involved abolishing the concept of an inheritance. This is something I won't ever agree to.
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Old 05-04-2021, 04:07 PM   #78
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Originally Posted by BigBeauford View Post
This is actually one of those slippery slope things anyways. I have been witness to numerous liberal conversations that involved abolishing the concept of an inheritance. This is something I won't ever agree to.
They want what the "Boomers" "stole" from them. Always the "Boomers".
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Old 05-04-2021, 04:21 PM   #79
vailpass vailpass is offline
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Originally Posted by BigBeauford View Post
This is actually one of those slippery slope things anyways. I have been witness to numerous liberal conversations that involved abolishing the concept of an inheritance. This is something I won't ever agree to.
Yep. It’s a “what will they come for next” kind of question. If a thing feels wrong it’s wrong no matter who it affects today.
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Old 05-04-2021, 04:22 PM   #80
vailpass vailpass is offline
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Originally Posted by cosmo20002 View Post
I don't know what that has to do with my post which merely stated the exemption amount, but I'm guessing your principles here are largely based on faulty information.
Are you choosing to be obtuse or is it just coming naturally?
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Old 05-04-2021, 04:26 PM   #81
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Originally Posted by cosmo20002 View Post
The exemption amount for 2021 is $11.7M for 1 person, double that for a married couple.

but its going to go down by alot right? I mean I don;t have the amounts at my fingertips but I
thought Biden wanted to bring it down to around 1 million, which would actually affect a lot of people..
(Even working people).



But I am not up on this that much, but the 2021 amount is fine in my eyes.
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Old 05-04-2021, 04:42 PM   #82
chiefforlife chiefforlife is offline
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Originally Posted by eDave View Post
You talk about politics with me in person and I walk away and never speak to you again.

Back-handed belitting over who I am as a person isn't going to get you the date anyway.

I'm Dave. Love me or hate me, I could not possibly care less.

Who the **** are you, anyway? And have I ever judged you?

No. **** off.
Yeah...that didnt go the way I thought it would. Wasnt judging you as a person in fact I thought I was saying you are a pretty good guy that helps me see the other side of arguments. Even though we are on opposite sides of the isle I can usually understand where you are coming from. I think thats a good thing that we could all use a little of.

However, after your response I guess Ill go with, **** you too! Nevermind.
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Old 05-04-2021, 04:47 PM   #83
Pawnmower Pawnmower is offline
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Originally Posted by chiefforlife View Post
I was saying you are a pretty good guy

You seem nice
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Old 05-04-2021, 04:51 PM   #84
BucEyedPea BucEyedPea is offline
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Quote:
Originally Posted by BigBeauford View Post
This is actually one of those slippery slope things anyways. I have been witness to numerous liberal conversations that involved abolishing the concept of an inheritance. This is something I won't ever agree to.
If they're talkin' like that, they ain't liberals. The word stems from liberty.
They're either a prog or a socialist of some stripe.

Last edited by BucEyedPea; 05-04-2021 at 06:03 PM..
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Old 05-04-2021, 05:46 PM   #85
cosmo20002 cosmo20002 is offline
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Originally Posted by Pawnmower View Post
but its going to go down by alot right? I mean I don;t have the amounts at my fingertips but I
thought Biden wanted to bring it down to around 1 million, which would actually affect a lot of people..
(Even working people).



But I am not up on this that much, but the 2021 amount is fine in my eyes.
Apparently Biden had previously mentioned wanting to lower the exemption to $3.5M, but it isn't in a tax proposal that he's supposedly releasing this week.
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Old 05-05-2021, 04:37 AM   #86
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Originally Posted by chiefforlife View Post
Yeah...that didnt go the way I thought it would. Wasnt judging you as a person in fact I thought I was saying you are a pretty good guy that helps me see the other side of arguments. Even though we are on opposite sides of the isle I can usually understand where you are coming from. I think thats a good thing that we could all use a little of.

However, after your response I guess Ill go with, **** you too! Nevermind.
Had you not lead with an insult, this would have gone much better.

Per that, I did not recognize the compliment that followed as the true motives of your post.

I appreciate the observation and offer my apology for flipping the **** out.
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Old 05-05-2021, 06:58 AM   #87
HonestChieffan HonestChieffan is offline
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Interesting talk with a financial guru sort of on this subject.

Seems his client base of mid 60s and up are at odds with what to do with the estate. Many know and recognize that leaving a pile to each of the kids can be a bad move if the kids are not capable of handling suddenly have a couple spare mil in the bank...lots of study into establishing charitable trusts that maybe the kids manage with a trustee but the money goes to predetermined causes not the kids

Lot of new wrinkles on funding grands education....do you leave enough for 4 ears of college? How do you wrap that into a trust that they get zero if not going to college and limit annual availability to a set amount so they don't just blow it? And if they don't do college or a trade school, how can you direct the money to a worthy cause and not fund a deadbeat.

Bottom line was he has clients who are trying to figure out the best time and best way to sit the offspring down and have an open discussion so they dont have a notion they will inherit a few million when in fact they wont. Millennials may have the richest parents of any group but they better not assume its gonna be theirs.
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Originally Posted by banyon View Post
Some speculation that this is Republicans attempting to get ahead of some other big shoes to drop, including possible complicity within the caucus.
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Old 05-05-2021, 07:35 AM   #88
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No. I went to one last month for my best friends dad. It was really awesome seeing everyone and reminiscing about the guy. Funerals are a necessity IMO.
Dipshit gonna dipshit. Necessity? Did the dead guy give a speech? You can sit around and talk for free. They are way overpriced and not needed.
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Old 05-05-2021, 08:21 AM   #89
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Originally Posted by Loneiguana View Post
Better sign your land over to your kids before the medical bills start coming.

Medical expenses is what we need to plan for to leave anything to the next generation.
They sell Health Insurance, Long Term Care Insurance, and Life Insurance to take care of those expenses.

If one cares about what they leave behind then they better set up their plan including those products.
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Old 05-05-2021, 09:20 AM   #90
chiefforlife chiefforlife is offline
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Originally Posted by eDave View Post
Had you not lead with an insult, this would have gone much better.

Per that, I did not recognize the compliment that followed as the true motives of your post.

I appreciate the observation and offer my apology for flipping the **** out.
The opener was just meant to be a little ribbing, I probably should have read it again before posting.

Anyway, Im glad its straightened out. There are good people on both sides and you do seem to be one of them. We are all entitled to a freak out now and then.

Cheers!
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