Although it is true that Baby Boomers control 70% of the wealth in America, it might be important to note that when baby boomers were young adults in the 1960s and 1970s people then who were over 50 also likely controlled 70% of the wealth then too. Also, the people who tend to pass on with wealth now are mostly somewhere between 70 and 100+ years old, so the next generation (usually their kids or brothers and sisters and neices and nephews tend to be next in line, who also tend to be over 40 or 50 themselves.)
People spend the first 40 or 50 years of their lives accumulating wealth and then sometimes they inherit a house or other wealth then. And so on and so on. This is just the way it has worked for hundreds of years here in the U.S. and appears to continue to work on into the future.
Top 10 Posts This Month
- The ultra-lethal drones of the future | New York Post 2014 article
- reprint of: Drones very small to large
- how do you change batteries on a black diamond headlamp?
- There are NO polling places in Oregon
- US Credit Cards With Smart Chip Technology
- Cancer rates 1900 to 2000 and beyond
- I grew up listening to Johnny Carson on the Tonight show on NBC
- Chuck Lorre Productions #264 and #265
- Hypothyroid? Auto-immune disease? Have you ever had giardia?
- 20 years of relative Drought here in the western States