The Briefing Room
General Category => Economy/Business => Topic started by: OfTheCross on October 31, 2019, 07:26:05 pm
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There are 618,000 millennial millionaires in the US, and they're set to inherit even more wealth from their baby boomer parents, according to a new report by Coldwell Banker.
The "Great Wealth Transfer" will see an estimated $68 trillion passed down from boomers over the next 30 years.
By 2030, millennials will be five times richer than they are today.
Businessinsider (https://markets.businessinsider.com/news/stocks/millennial-millionaires-baby-boomer-inheritance-wealth-transfer-2019-10-1028611162).
Apparently 44% of those millionaires live in California. Silicon Valley is making the youth rich
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A millionaire in California is not the same as in other states. A California millennial millionaire secluded in Silicon Valley may not even know it.
(https://meric.mo.gov/sites/meric/files/media/image/2019/08/COL2019_Qtr2.jpg)
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A millionaire in California is not the same as in other states. A California millennial millionaire secluded in Silicon Valley may not even know it.
Alot of those so-called Millennials are really Gen X, and screw Pew Research for saying otherwise.
But you're right. Old school wisdom: it ain't what you make, it's what you keep, and a million don't go that far in Cali or NYC.
Which is a big part of the problem. All those little millennial geniuses - real and self-proclaimed - might be so in all that is tech related, but ususally don't know jack about money, finance, economics, and markets.
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I suppose that means they own a house in the bay area...
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Apparently 44% of those millionaires live in California. Silicon Valley is making the youth rich
Bet 50% of the 44% are still living in their parents basements.