What is "Generational Wealth" ?

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In reply to Ogre09 • 4:45p, 12/15/21
Ogre09 said:
You think the cost of things is doubling every 8 years? If that were true you would never be able to accumulate anything and you should just spend everything now.




Senate staffers allegedly projecting up to 35% inflation by summer.






















You guys burning your cash yet or waiting for deflation to kick in?
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Gordo14
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In reply to administrative errors • 9:36p, 12/15/21
Inflation isn't going to 35% because some random twitter user "talked" to a "senate staffer". Inflation is pretty clearly at a peak this month as we have a ton of demand and still substantial supply chain issues. The Fed already said they are tappering harder and faster than they were planning to last month. Demand will come down after christmas and supply chains will catch up and normalize. I'm sure Inflation will still be elevated relatively speaking for the first half of 2022, but I bet we see it normalize into the second half of '22 early '23. But 35% inflation. Even ****ing Turkey who believes in the opposite of monetary policy isn't experiencing 35%.
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Sully Dog
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In reply to Gordo14 • 10:30p, 12/15/21
Quote:
inflation is pretty clearly at a peak this month
so you are saying it's transitory?
Deplorable Neanderthal Clinger
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evestor1
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6:11a, 12/16/21
Personal opinion is that generational wealth would require assets and frugal mentality to be passed.

My dad is on deaths door and my mom is showing signs of her poor upbringing. She spends about 2500-3000 per month (1000 on car/house expenses, 1000 on food/fun, and 500 on insurance.)

She makeS 7k per month on SS/pension/TRS. She has rental portfolio I manage, making 6k per month. Her net worth is approx 2.75mm and my Uncle has her as full beneficiary of over 5mm.

She is 70. Now that my siblings and i are taking care of her I'm noticing that her frugality has been passed to us all. Now if we can only pass to our 12 (the grandkids) we will be set for a while bc we all have more than our parents /uncle have.
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kingj3
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6:16a, 12/16/21
AG
I'm not an economist and I'm not your economist, but O think that's an advantage, because common sense has been explained away by every "expert" in this country-and they've pretty much been wrong on every issue.

Eventually prices have to rise to meet the new level of currency in circulation. I believe that we are between 40-50% of all USD's in history being created since January 2020.

We can't export enough dollars to avoid a big issue.

Remember that Bernanke used helicopters to drop cash in select markets which delayed the impacts and minimized the impacts of the inflationary pressures - mostly going towards equities.

Trump, in what I believe to be one of his biggest mistakes, and then Biden used cannons to blast cash directly to every mailbox in the country and to almost every business through PPP and EIDL etc

Trying to say that inflation is primarily driven by supply chain issues is ****ting on my head and asking me thank you for the hat
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Sully Dog
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In reply to kingj3 • 7:40a, 12/16/21
To be fair the white house also blamed inflation or to quote Jenn Psaki, "or whatever you want to call it", on greedy capitalist.
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In reply to Sully Dog • 7:42a, 12/16/21
"In order to stop inflation we need to seize the means of production from these greedy capitalist scum."

Boom inflation 35%


Evestor, imagine having that kind of upbringing being incentivized instead of spending everything you have and getting into debt for what your don't, but getting everything you want now.
***
Coming soon:
AE Ventures - sooner than soon
*Psychedelic Retreats
*Physical and mental exercises
*Addiction services

Step 3: property found

Step 4: set date

Step 5: plan agenda for participants, food, logistics etc, integration and counseling post-experience

Step 6: long-term planning

I am amped.
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Bradley.Kohr.II
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12:27p, 12/18/21
AG
I think by the time this is over, we will have 35% inflation, overall.

Next year might be a bit higher than this one was - I'm guessing real estate will slow it's rise, packaging is just going to break, until stuff gets sorted out, but that might get eased by spending money on long term capital assets to lower packaging costs and needs.

Food will be tough - as an industry, it's always prided itself on tight margins, in a way (outside of milling. Nothing pays like milling flour)

But, it was already a broken industry, going through a weird consolidation phase, with the backing of DC.

It all goes wrong, and customers will be left with nothing but their choice of conglomerate brands, and forced to tolerate the lowest quality product, they'll actually stand - the Algorithm and the Mega corp will do well together. It would be like living in hell, but DC loves the idea
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Adverse Event
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In reply to administrative errors • 10:29a, 9/13/22
administrative errors said:
Ogre09 said:
I usually use a 3% annual inflation rate for rainy day forecasting. But I also have 20 years and 75% of my goal to go, so not too worried about getting it dead on right now. But if I'm still working at 70 because I need to, I will have failed miserably somewhere along the way.

I'd change that % to 10% at least to be safe...


Ogre094:34p, 10/5/21
You think the cost of things is doubling every 8 years? If that were true you would never be able to accumulate anything and you should just spend everything now.
!!!!
Bump for recent CPI
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htxag09
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In reply to Adverse Event • 10:58a, 9/13/22
AG
To be fair, he didn't say 10% wasn't possible. He said an average of 10% over 20+ years wasn't likely.
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Adverse Event
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In reply to htxag09 • 3:03p, 9/13/22
htxag09 said:
To be fair, he didn't say 10% wasn't possible. He said an average of 10% over 20+ years wasn't likely.


Ah, so we're betting on the Inflation Reduction Act to perform admirably, then.


Meanwhile, elsewhere:
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