Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.
Lucky for me my parents were both “I didn’t save anything for retirement, my kids will take care of me when I’m older”, so I don’t have to suffer through this.
Sure and that’s fine, but then we need to stop as a society assuming that generational wealth is a thing, and that parents will help their children. Parents do not help with down payments like they used to, or with other major life events, and so we need to assume everyone is starting from zero
Well, that really depends on the society. I don’t live in one that makes such assumptions. It feels a little bit entitled to assume something like that, but that could also just be cultural differences between developed and non-developed countries. The former have social security and safety nets, rendering an inheritance less important and much less prominent. Feels like the only inheritance worth even thinking about is if you have millions in excess of what you need for living, and in developed countries that is very much less prominent than in developing countries
What on earth are you talking about? Generational wealth is not a binary thing. There are people rich enough to pass their fortune to their kids and then there are ones who can’t. That’s how it has always been and that’s how it’s always going to be.
How can we be reaching this conclusion, with all the accumulated wealth in the world? How can we be seriously believing everybody should start at zero? I can’t believe what I’m reading here. Generational wealth is absolutely a thing, we inherit everything from the past. As a species, we inherit the wealth of the previous generation. Where are we imagining it goes? Given that it exists, why are we not entitled to benefit from it? There is so much wealth in the global economy, the issue is of distribution.