“They shouldn’t be bemoaning their situation, they should be looking at the world and saying, ‘What can I make of it? What can I do better than the folks before me?’”
It’s true that Gen Z is concerned about their financial welfare in 2025, but data suggests that many of their fears will be relatively short-lived.
For example, Gen Zers (people born between 1997 and 2012) say they are having to turn down job opportunities because they can’t afford commuting expenses and have decided to focus on their pets in lieu of having children because kids have become too expensive to raise.
In addition, they’re abandoning their dreams of owning a home soon—unless they believe they’ll receive an inheritance soon.
This cash-strapped present may prove a contrast to their wealthy future, however, with the Great Wealth Transfer estimated to trickle around $84 trillion from the baby boomer and silent generations to their younger relatives.
Indeed, the shift will be so great that millennials are expected to be the wealthiest generation in history in the coming two decades.
Good news. When the old people die, you will all be rich.
Yeah we all just have to wait for our rich old uncle Scrooge to die
I work in mental health and early in my career I spent some time working in geriatric end of life care.
There’s all this talk of “oh people are going to finally get inheritance and it’s going to make millennials rich” but there’s an insidious industry that is rarely talked about that will siphon off a ton of that wealth and transfer it to people who are already rich
For families that are fucking loaded it’s not really a concern. Like if you have a family with an estate of 10 million dollars you’re probably okay. But how many americans meet that criteria? I know I don’t. My parents worked like dogs all their lives, had excellent careers, and at the end of an 80+ year life are nowhere near 1/10th of that, with the majority of their wealth being their home.
But if you cannot take care of your parents you will most likely put them in assisted living. When you look at these places you will find some that are funded solely by Medicare but they tend to be very poor. So you look around a bit. You then find ones that take Medicare but also supplement that with extra options paid out of pocket, usually by liquidating the estate. So the house gets sold, or accounts get cleaned out.
If your parents age gracefully and you have the means to take them into your home or move in with them then wonderful, you can avoid this. But if you’re living and working far away from them, living in a small apartment, if they develop complex medical needs like dementia or require hospice (which can last much longer than you’d think), assisted living becomes much more necessary. And these private equity vultures have made a lucrative machine out of it that will take everything your parents earned and transfer it to some asshole, while they grossly underpay CNAs and cut corners everywhere because it is ruthlessly profit driven.
The drug rehab industry is also riddled with this too. Upselling everywhere, preying on people when they are at their absolute lowest, then saddling them with thousands or tens of thousands in bills for things that aren’t covered by insurance. Did you get a massage and acupuncture as recommended by your counselor at the rehab? The counselor was pushed to recommend this because it’s an upsell even though the evidence base for addiction is basically nonexistent. While some high end insurance policies cover it most don’t, and you get a bill for all the services that weren’t covered. You can often fight this but you literally just got out of rehab, you’re on shaky ground, should the place responsible for your recovery be inflicting suffering on you when you’re most likely to relapse?
More and more emergency rooms are also being bought by private equity as well, owning about 1/3rd of emergency departments in the us. It’s a disgusting situation where doctors are being given quotas and maximum times to engage with patients. Ever had a shitty experience in an emergency room? Some doctors are just fucking bad, tbf, but maybe look up to see if that doctor had a wall street scumbag breathing down their neck about maximizing utilization 100% of the time and billing as many services as possible
For profit healthcare should be a wedge issue for pro-capitalism people in a sane world. Instead there’s some convenient requirement like not putting sawdust in insulin that prevents true competition. The failings are actually the leftist interventions every time