Will anything actually change when the boomers and older Gen X (spiritual boomers) die?

[CaptainTrouble]

I think millennials are worse than boomers in a lot of ways. Gen Z isn't really amazing but they've seen so much shit, they're a little more open minded than Boomers/Millennials but they aren't going to have much power. Younger Gen X and Millennials are next up to bat.

I'm not sure what the stats are on boomers leaving the next generation money but at least in my circles, a lot of boomers have been living so liberally with their money, I don't think there's going to be much left to pass-down. I know tons of boomers constantly traveling, buying new cars every year or two, living in weird rich communities in Canada, giving money to charities, etc... And many that plan to leave something will probably get trapped in the "senior care" system that will siphon all their assets such that their kids get nothing. That's just a feeling though because I don't truly have the data to truly conclude this.

A lot of boomers are big into real estate with multiple properties. If they do pass-down the real estate to their kids, I think most kids will just keep the same. So, prices won't change due to any fire sales. I have noticed as a millennial, as soon as any of my peers buys a house, all their views on politics immediately change to mimic the boomers when it comes to maintaining housing prices. Like clockwork: millennial doesn't own a home = stop immigration, home prices must come down 70%. Millennial owns a home = actually, we need skilled immigrants to boost the economy. I think housing prices crashing would be bad for the economy.

I think boomers get a lot of flack but I don't actually think Gen X and Millennials are any better where it counts and won't be when it counts.

What are your guys' thoughts?

 

[ayn_rands_ghost]

My boomer Mother and Aunt on my mothers side made dam sure they spent every penny and left their kids nothing.

On my paternal side:

My Dad who is a very late silent says he has trusts for us three kids and his house and cabin and other assets will be split 3 ways. His brother who passed last year (also a very very late silent) left his roofing business to his son and house to daughter and they split the rest but they kept his cabin and they share it. My other silent uncle is still around and have no clue what he is doing. They have two sisters who are boomer but 10 and 12 years younger than my dad and uncles and I have no clue what they plan. One has no kids and has done very well as she worked at BC Tel (now telus) since graduated high school and she has money so anyone's guess. She does take a lot of trips.

I am an Gen X and used to say I was born 15 years too late.... Boomers had the easiest generation ever yet don't care about their kids or grandkids that much from the ones I know. It is me me me and offer useless advice. My other aunt got a job at the city and stayed their life when she was in her 20's and used to tell me why I could not do the same.... Seems every generation after boomers needed more qualifications for jobs that paid less. Now newest generation will need to learn Punjabi or Mandarin or Arabic etc as second languages to get work foe shittier pay with housing and food costs through the roof.

When boomers (aka elbows up crowd) die off, that will be a huge voting block gone. I guess immigrunts will replace them very generally speaking as the new lib voters. The Caucasian population will drastically decrease and more nons elected to federal and provincial governments will could or will change things drastically for this country.

As a Gen X in my circle anyway we were more right wing than our parents, could be different elsewhere. In my case my mother who was staunch NDP (barf)...

I am surprised there is not an inheritance tax yet. Many on the left want it and mainly because they will not get one so those that do get punished.

 

[CaptainTrouble]

It is me me me and offer useless advice.

My boomer father. Worse, he actually gives condescending advice. Man, did he ever eat up the "younger generation is entitled" bs in the media. Meanwhile, he's the laziest person I know and lived off disability insurance for almost a decade due to "stress". Pathetic. NDP supporter, ofc.

I am surprised there is not an inheritance tax yet. Many on the left want it and mainly because they will not get one so those that do get punished.

Probably in the works but they're working out how it won't apply to rich people and only to the middle-class.

 

[ChevChelios]

"I am an Gen X and used to say I was born 15 years too late"

The people born in North America around 1950 were the luckiest in human history, in my opinion

"As a Gen X in my circle anyway we were more right wing than our parents"

Yep, although maybe it's more true to say that our generation is more cynical than the Boomers, who just believe everything they see on TV. Not only did we spend our teenage years growing up in the relatively conservative 1980s, we were also the first generation to be exposed to the internet (and its alternate sources of information) while still young enough to be able to take advantage of it

 

[border_humper]

Also notoriously independent, latchkey children of divorce who entertained and took care of ourselves and our siblings, worked hard and didn’t make a fuss.

I am deeply pissed off by the term “spiritual boomers”. Hogwash. Gen X are a 180 from their self-focused boomer parents. My mother was born in 1950, she is a piece of work.

 

[ex_libris]

A buddy of mine is my age (51) so I guess we're X'ers. He's a financial planner for one of the banks and anecdotally he tells me that many boomer parents he deals with (a relatively affluent part of downtown Toronto) aren't leaving a damn thing to their kids. Take that for what you will.

 

[ChevChelios]

I'm not rich by any standards, but whether it's a Gen-X thing or an immigrant thing I am utterly determined that whatever I leave behind when I die will go to my kids. The idea of squandering my children's inheritance is as utterly abhorrent to me as the idea of selling them into slavery

 

[cannipede]

It's not just boomers; I know several millenials that voted for turdeau/carney either to "stick it to Trump" or because they are potheads who just want to smoke marijuana all day and will gleefully keep voting for the party that legalized it.

I own a house and I'm still in the camp that thinks housing is way too expensive. Unfortunately the economy of this country is pretty much just a house of cards where people buy and sell houses to each other at increasing prices, so I think any government will strive to maintain the status quo. No party will want the crash to happen when they're in power as that would result in them getting destroyed in the next election, even though it's exactly what we need.

 

[ovarieasy]

The demographics will skew even further brown. The old whites are all that's propping up the % of whites in Canada.
Good amount will likely sell off everything they can and spend the rest of their life on a cruise.

Everything will just keep getting worse.

 

[brutana_dilewski]

^ This. Demographics are destiny and they are not on our side.

 

[Trudeaus coke dealer]

This country cannot get better without a deep philosophical change amongst the population. Take a look at who the average voter is and where demographics are headed to know it cannot be fixed.

Between the abortion euthanasia trannie encouragement xenophilia and total lack of ability to engage in self reflection amongst the populace I figure it's better if this country doesn't exist anymore.

The entire thing is rotten.