Quote:
Originally Posted by Huehuecoyotl
I find this breakdown to be highly deceiving. For a few reasons
1. It is from 2013. Asset prices like housing and stocks have gone up significantly since then, which boomers own a significant portion of these assets.
2. It doesn't include entitlements like state pensions where boomers just are feasting. Many of them paid into the system like 1/2 of what people are paying in these days to keep the programs going. Then social security income stream. That's basically a bond worth 5-600k for most people.
3. Most of those networth calculations don't include personal residence and many boomers have houses that have gone up 3-4fold over the last 30 years that are now debt free. I know there are 2 calculations, 1 not including personal residence equity but tons of people could and should downsize their homes but let's face it, they just don't want to.
Sure there are some poor olds, but that generation overall did really well, regardless of what you want to attribute it to.
Last edited by Onlydo2days; 03-31-2017 at 05:42 PM.