Generational Handoff in America: Millennial Boom Time Ahead?

[bigsly]

Pew Research reported last year that America's Millennial population will outnumber its Baby Boomers this year, 2019. And that by 2028, just 9 years from now, GenXers will also outnumber Boomers. So, what we're witnessing right now is the passing of the generational torch from the Boomers to the Millennials, with GenerationX not far behind in joining them.

Some suggest an economic lull America might be experiencing currently is due to this period of historic changeover, and that when the Millennials are totally up to speed on running the country, it can possibly result in economic boom times like America has never seen before.

“So, we have got 89 million people in between 21 and 38 years old that are about to start their lives, form households, do incredibly economically impactful things and we don’t need anybody from outside the United States to cause that to happen.”

“And we are giving them the lowest interest rates in the history of the United States of America to form their lives. We are practically giving them the money to buy houses and buy cars etc,” he added.

“The velocity of money has declined. The reason is because the necessity spending of the largest adult population group has not happened yet — so they haven’t bought the houses and the cars yet. As soon as they buy the houses and the cars, the banks lend $10 for every $1 deposit, and that velocity of money picks up,” Smead said Monday.

“Just do the math, there’s 89 million millennials in a 330 million population of the United States of America. And then the group behind them — this is crazy — is just as big.”

“In 20 years, there is going to be way more payers into the social security system and there is going to be way fewer taker-outers — and that problem will solve itself through demographics,” Smead said.

So, Millennials are officially in charge of America's future now. It is truly theirs to make whatever they want of it. All the problems a following generation blames upon a preceding generation are now the Millennials' to be responsible for, like it or not. Looks like they've been at least left good enough potential to possibly be the most prosperous generation in American history - which is saying something, indeed.

American Millennials, you have the bridge.

 

[TJX]

They better develop a work ethic.

 

[mark_j]

Good luck folks. You'll probably do fine, as long as you don't fuck up.

 

[BotanyBoy]

Check the average age of the congress critters...the handoff is quite some time away.

They better develop a work ethic.

Some, others would put most boomers to shame on their best days.

A "generation" is just an age group...everything else is bullshit.

 

[heathergives]

They better develop a work ethic.

They'll have to, with the highest student loan debt in history.

 

[icanhelp1]

Pew Research reported last year that America's Millennial population will outnumber its Baby Boomers this year, 2019. And that by 2028, just 9 years from now, GenXers will also outnumber Boomers. So, what we're witnessing right now is the passing of the generational torch from the Boomers to the Millennials, with GenerationX not far behind in joining them.

Some suggest an economic lull America might be experiencing currently is due to this period of historic changeover, and that when the Millennials are totally up to speed on running the country, it can possibly result in economic boom times like America has never seen before.



So, Millennials are officially in charge of America's future now. It is truly theirs to make whatever they want of it. All the problems a following generation blames upon a preceding generation are now the Millennials' to be responsible for, like it or not. Looks like they've been at least left good enough potential to possibly be the most prosperous generation in American history - which is saying something, indeed.

American Millennials, you have the bridge.

There's still the issue of the increasing debt and the interest on the debt. If we go socialist and a everything for free economy, they'll be dead in the water.

 

[BotanyBoy]

There's still the issue of the increasing debt and the interest on the debt. If we go socialist and a everything for free economy, they'll be dead in the water.

LOL....hell a lot of them will just be DEAD.

 

[bigsly]

The “Great Wealth Transfer”

Boomers, the wealthiest generation in American history, expected to pass on over $68 trillion to Millenials within 20 years.

There are approximately 618,000 “millennial millionaires” — those with a net worth of over $1 million — in the United States, according to a 2019 report from Coldwell Banker Global Luxury and WealthEngine, which defines millennials as those born between 1982 and 1996, or ages 23 to 37 in 2019.

The population of wealthy young people is growing, the report finds. And they’re getting richer: “By 2030, millennials will hold five times as much wealth as they have today, and are expected to inherit over $68 trillion from their predecessors in the Great Transfer of Wealth.”

The “Great Wealth Transfer” refers to the trillions of dollars that will be passed down to millennials from their baby boomer parents, who are considered the wealthiest generation in history.

There are 618,000 millennial millionaires in the US—and 44% of them live in 1 state
https://www.cnbc.com/2019/10/17/heres-where-the-millennial-millionaires-live-around-the-us.html