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  1. #1
    Registered User zhengterry's Avatar
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    Difference in Wealth By Generation





    Not looking good for millennials
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  2. #2
    Registered User DavidL913's Avatar
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    dumb chart

    millenials havent been around long enough to accumulate wealth + also current market/economic conditions + monetary policy
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  3. #3
    Registered User shmobin's Avatar
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    What does the chart say when the boomers start to die.


    Derp.
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    People who have been on the planet 50+ years are doing better financially then those that have only been on the planet 20+ years?
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    Pretty useless chart. A better comparison would be a chart that shows where each generation was at a certain age. That'd make it easier to compare relative prosperity by generations.
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  6. #6
    ๐Ÿ…ณ๐Ÿ…ฐ๐Ÿ†‚ ๐Ÿ…ธ๐Ÿ†ƒ Luc1fer's Avatar
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    Gonna need to normalize by age and inflation buddy
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  7. #7
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    To get a true picture here, weโ€™d need to see a graph plotting each generationโ€™s ability to interpret graphs
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  8. #8
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    I'd like to know that "other" category.

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  9. #9
    Registered User Beararms's Avatar
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    Easy for them when they bought up every piece of real estate in the united states since the ww2 when it was cheap. We all know thats the best way to wealth.
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    pretty sure the takeaway here is not the absolute amount of real estate wealth by generation but rather the trend by generation since 2015. Maybe the decline can be explained by a change in life goals or millennials suddenly prefer renting out.
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  11. #11
    Registered User iloveus's Avatar
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  12. #12
    ๐Ÿ…ณ๐Ÿ…ฐ๐Ÿ†‚ ๐Ÿ…ธ๐Ÿ†ƒ Luc1fer's Avatar
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    Originally Posted by iloveus View Post
    This hyper-simplification is dumb.

    Left: It's all privilege and luck.
    Right: It's all choices and hard work.

    Reality: It's a mix of both.
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  13. #13
    Forever aBOARD guest89's Avatar
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    Originally Posted by Luc1fer View Post
    This hyper-simplification is dumb.

    Left: It's all privilege and luck.
    Right: It's all choices and hard work.

    Reality: It's a mix of both.

    There are people born into wealth that are privileged and lucky. There are people born with nothing that have become very wealthy. I can't remember the exact number but I think it was something like 80% of millionaires did not inherit their wealth and are self made.
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  14. #14
    ๐Ÿ…ณ๐Ÿ…ฐ๐Ÿ†‚ ๐Ÿ…ธ๐Ÿ†ƒ Luc1fer's Avatar
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    Originally Posted by guest89 View Post
    There are people born into wealth that are privileged and lucky. There are people born with nothing that have become very wealthy. I can't remember the exact number but I think it was something like 80% of millionaires did not inherit their wealth and are self made.
    I'd need to see the exact study to comment, but it isn't just about inheritance.

    A kid born in working class doesn't have the same opportunities as one born into middle class.

    At least we should agree on disparity in opportunity. And for some anecdote you show me about how a working class kid in Detroit became a millionaire, I can show you a dozen from middle class. That's disparity.

    Then we can talk about whether we should do anything about it.
    Last edited by Luc1fer; 07-24-2020 at 10:45 AM.
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    Real Estate is going to plummet as the Boomers start dying.
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  16. #16
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    Originally Posted by Beararms View Post
    Easy for them when they bought up every piece of real estate in the united states since the ww2 when it was cheap. We all know thats the best way to wealth.
    Lol nope. Not even close. A successful business is the best way to wealth.

    Ignore the real estate industry they are just out for commissions.

    The only reason why real estate has done okay in the past few decades has been policy manipulation by our central banks, who are run by boomers. When interest rates are dropped, anyone who already owns assets, like the boomers, benefit. This true for stocks as well (although they are more liquid and less costly to own). But asking younger generations to shoulder more debt than any generation before is why those charts OP posted look the way they do.
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  17. #17
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    Originally Posted by guest89 View Post
    I can't remember the exact number but I think it was something like 80% of millionaires did not inherit their wealth and are self made.
    yea, and you'd prob need to see the exact breakdown how they classify "self-made".

    would you call kiley jenner a "self-made" billionaire? because that's what they call her

    i have a friend from a rich high school that started a design company. he just asked his parents to buy a building, etc., etc.

    i guarantee they'd classify that as "self-made"

    where, as opposed to making that big ole chunk to be able to afford that building, he just used a lump sum at his disposal.

    totally different circumstances if he couldn't ask his parents for that money, no? to have to take some type of job and spend x years to build that sum, before being able to buy that building.

    the end result is his business, but doesn't speak toward how they got there

    more often than not, this is a caveat not explained, and i think it's to keep people motivated, as though the "dream" is attainable. btw, i think it is attainable, im not saying that. just less than they say. being truthful would prob kill spirit
    Last edited by propreffered7; 07-26-2020 at 10:00 AM.
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    Gotta keep in mind that the vast majority of millionaires are not crazy wealthy, theyโ€™re older people with seven-figure retirement accounts and / or real estate portfolios. Average age of millionaires is probably 55+ or even 60+ and almost entirely made up of people who have just worked and saved long term
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    If you look at most studies, most millionaires don't even make that much money (household income of less than 6 figures). They are just very good savers and consistently invest.
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  20. #20
    Breaker of Gains JStrez's Avatar
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    Yeah I mean when we pretty much handed out land/houses to people fighting in the World Wars, we kind of set this up for ourselves. My grandfather lived in one of those houses and he bought it for like nothing. Then he ended up selling it for almost $500k which he pocketed straight up.
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    Originally Posted by JStrez View Post
    Yeah I mean when we pretty much handed out land/houses to people fighting in the World Wars, we kind of set this up for ourselves. My grandfather lived in one of those houses and he bought it for like nothing. Then he ended up selling it for almost $500k which he pocketed straight up.
    In California, there were a bunch of scams going on where old people bought homes for like $10K and they were close to 100 years old. Some Real Estate con man would show up and offer them 4x what they paid for the house. Being out of touch and probably senile, the olds sold it. Then the con sold it for market price.
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