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Finance guru Dave Ramsey slams 'awful' Gen Zers and millennials who live with their parents: 'They suck. They can't buy a house because they don't work' (fortune.com)

submitted 7 months ago by [email protected] to c/[email protected]

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[–] [email protected] 152 points 7 months ago (11 children)

However, the upheaval millennials and Gen Z have faced may soon be behind them. The former is expected to become the “richest generation in history,” courtesy of a $90 trillion great wealth transfer in the coming decades, while younger consumers generally say they’re feeling more optimistic about their financial futures.

Don't worry, eventually your parents will die and you'll be able to live in the whole house not just the basement.

[–] [email protected] 114 points 7 months ago (2 children)

$90 trillion great wealth transfer. As if that money is going into the hands of people who aren’t already obscenely wealthy to begin with.

[–] [email protected] 35 points 7 months ago* (last edited 7 months ago)

Also the the boomers with any wealth are going to live a lot longer. My boomer mom’s mom was 91 when she died, the only reason my mom is solvent is because she inherited and sold grandma’s house.

If my mom lives that long I’ll be in my mid 60s and my brother in his 50s. I’m a late Gen Xer btw.

So the timeline is at least 15-20 more years.

[–] [email protected] 21 points 7 months ago

Subscription services will be like "sorry it's $1k per extra seat now"

[–] [email protected] 65 points 7 months ago* (last edited 7 months ago) (3 children)

This is what neoliberalism and capitalism wants the younger generations to believe, but a large percentage of that wealth will be stolen via health care and similar predatory, exploitative systems.

[–] [email protected] 25 points 7 months ago

And do you think the inflation caused solely by greed might be related? They need to capture that money now before it is inherited.

[–] [email protected] 8 points 7 months ago

Reverse mortgage enters the chat.

[–] [email protected] 4 points 7 months ago

This. My grandparents were well off and set up a trust for me and my brother.

It wasn’t much. And then all of it went into her nursing home when the dementia got so bad we couldn’t care for her ourselves anymore.

And the rich got richer

[–] Deceptichum 50 points 7 months ago

Yeah, nah.

That wealth isn’t fairly distributed. The children of rich parents will be richer, the rest of us will be worse off.

[–] [email protected] 21 points 7 months ago

Whatever isn't sold off for long term care, which won't be much.

[–] [email protected] 20 points 7 months ago

... $90 trillion great wealth transfer in the coming decades ...

This only counts if your deceased parents have any wealth to transfer.

[–] [email protected] 12 points 7 months ago

Trickle down economics in a trenchcoat.

[–] [email protected] 10 points 7 months ago

Don't worry, eventually your parents will die and you'll be able to live in the whole house not just the basement.

Only if you don’t have to sell the house beforehand in order to be able to afford a nursing home for your parents