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Crixcyon's avatar

It makes sense that the boomers would have the most wealth since they have worked the longest and have had time to accumulate it. Don't worry though, the boomers are dying off already and the pace will pick up in the next 5 years.

As a 75 year old boomer (I despise that title) I am spending less and getting rid of junk, not accumulating it. I try to by used things if I need them and don't worry about being able to afford a lifestyle of running around all day like a headless chicken thinking that in my last years I have some 10,000 item bucket list I have to spend every waking moment checking off.

I don't think it's safe to assume that everyone in the top 10% are all boomers. Many very rich people are much younger. I know many boomers who are barely surviving and we always hear about the millions of retirees living on Social Security and not much else. Not much boom there.

I'd bet that much of that boomer spending is on supremely over-priced and over-valued medical care. It does make up almost 20% of the economy.

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ScottB's avatar

As a mid-boomer, I take issue with the condescending comment "while voting for big government". I have never. I have worked hard and taken risk, both of which most are reluctant to do. Like any rational individual, I have taken advantage of the policies where possible, but I would trade half of my worth to have not had to go through the Orwellian period that we are (hopefully) coming out of.

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