XPost: alt.politics.conservative, alt.fan.rush-limbaugh, talk.politics.guns   
   XPost: sac.politics, alt.politics.economics   
   From: nospam@ix.netcom.com   
      
   Boomers are holding on to their money for as long as they can, rather than   
   handing them down as inheritance to their children, according to a new   
   report.   
      
   In recent years, around 12,000 boomers have turned 65 each day. Experts   
   had assumed they would pass down their accumulated wealth as they retire,   
   downsize, and plan their estates.   
      
   But the Great Wealth Transfer - in which baby boomers are expected to hand   
   over billions of dollars to their millennial and Gen Z children - may not   
   be as straightforward as previously thought.   
      
   A new survey of wealthy Americans  by Charles Schwab found that almost   
   half of boomers wanted 'to enjoy my money for myself while I'm still   
   alive.'   
      
   Warren Buffett has also famously said he is not giving all his money to   
   his children. But rather than wanting to spend it himself, he simply wants   
   his kids - who are 66, 70 and 71 -  to give it away to good causes as they   
   have enough money anyway.   
      
   Boomers, born between 1946 and 1964, are famed for benefiting from great   
   social mobility when house prices were low and labor conditions strong.   
      
   By contrast, only 11 percent of Gen X-ers and 15 percent of millennials   
   said they too wanted to hold on to their own money during their lifetime.   
      
   Both groups were in fact more than twice as likely to choose to share   
   their wealth while alive compared to the Boomers.   
      
   'According to our survey, younger Americans could be poised to reshape   
   legacy planning and the future of how wealth is passed to the next   
   generation,' Andrew D'Anna from Charles Schwab said of the findings.   
      
   Gen X, who are currently aged between 44 and 59, are set to be the biggest   
   beneficiaries of the generational wealth transfer.   
      
   When it comes to fortunes that are worth $5 million or more, Gen X   
   Americans from ultra-wealthy families can expect to receive their   
   inheritance at age 46, according to a report by Wealth-X.   
      
   Boomers currently possess around $83.5 trillion in wealth, according to   
   the 2024 UBS Global Wealth Report.   
      
   $17 trillion of that wealth is held in home equity, as the generation has   
   experienced decades of property valuation growth.   
      
   Home prices have risen around 500 percent since 1983 - when boomers were   
   in their 20s and 30s and just getting onto the property ladder.   
      
   https://www.dailymail.co.uk/yourmoney/consumer/article-14343427/boomers-   
   refuse-wealth-real-estate-transfer-children.html   
      
   --- SoupGate-DOS v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)