|
I know far more boomers who are flakes, aspired only to be on disability, and are living a piss poor life than I do boomers who meet the norm of this forum.
Boomers wealth is greatly exaggerated.
A $200,000 MotorHome, depreciated to $120,000 with a loan against it of $180,000...is not wealth. But that boomer owner will sure tell you it is.
Until it's after tax cash, it just ain't.
The speculation on home values, what boomer wealth is supposedly built of...didnt pan out in 2006 and 2007. But they made new rules saying it never has to be paid back on a primary residence, just to keep the boomer myth alive.
80 percent of boomers(my guess) don't have Squat.
The 401k millionaires you read about?
Of course that's prewithdrawl, pretax, prepenalty money and is hogwash being called a million.
Cut that million in half if you're lucky when you make it cash... Lose most of it if they're not lucky.
And when reading 'boomer wealth averages' :
Remember Mr Pickens and rockerfeller, and $500,000,000 lotto winners and movie folk and sports players are counted right in there. Mr Walls heirs probably offsets 100,000 broke boomers just by himself. How many does Mr Jordan offset?
__________________
|
Thor Forums
