Letter: Huge wealth transfer coming
Published 8:14 am Monday, March 18, 2024
I was at the end of “The Silent Generation,” also known as the Traditionalist Generation, following the Greatest Generation and preceding the Baby Boomers.
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As we in this generation are getting close to handing it off to the next, I fear we have left a mess. I came to this country in 1957, always thought this was the greatest country to be a part of. That has diminished over the years because of the Vietnam War, supporting the ruthless Shah of Iran, the forever Afghanistan war, but mostly horrible unwarranted Iraq war.
The prior wars were funded with Republicans, for the most, agreeing on it. Now we are still supporting Israel’s brutal payback for a brutal attack on Israel. Yet they are unwilling to help Ukraine, who fight valiantly for their independence against Putin’s murderous attack.
I was born under Nazi occupation (barely) and heard firsthand stories of the brutality, which mirrors Putin’s conquests, territory by territory. Putin will not stop with Chechnya, Georgia and Ukraine. We helped get him out of Afghanistan and we got stuck there, sadly.
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It is virtually guaranteed that Putin will have his way if we allow Trump back in. Dictator for a day? Most certainly Trump will join hands with those he has been praising all along. So do pay attention to what he says openly — it isn’t foolish words, he means it all and more.
Many Millennials are currently gasping in frustration about long-held American dreams like home ownership, a steady job, and an affordable cost of living. However, over the next 20 years, Millennials are poised to inherit some $90 trillion of assets and become the richest generation in history — but only the ones who already come from affluent families, potentially deepening wealth inequality further.
Between now and 2044 in the U.S., the Silent Generation and Baby Boomers are expected to hand over the reins of their significant wealth to Millennials.
POUL TOFTEMARK
Rosburg