Why did your parents fail to accumulatea generational wealth?

[Anonymous No.55959982]

[Anonymous No.55959989]

>>55959982
My parents have not failed. We have a fully paid house 500k euros worth that I will inherit. Plus savings.

[Anonymous No.55960010]

>>55959989
>inherit
>heres your recently appraised 1.5million house
>you just need to pay us 40% for inheritance fees :)
>housing prices crashe
>property tax goes up
>niggers move in area

[Anonymous No.55960027]

My parents sold their house to move, but then house prices skyrocketed (2000s) and then they thought

>theres no way the house prices keep going up! this is insane!!!!

Then they pumped from 2000 > 2008, yes they crashed, but they were still worth a lot more compared to when they sold their house in 2000.

Then they said

>Yes the economy crashed, but house prices are still high, theyre for sure gona come down, no way these prices are reasonable

The housing pumped for all of the 2010s and now they're priced out from ever owning a home again.

I actually see people on /biz/ doing the same mistake my parents did

>Woah im not buying a house now that rates are up, property is still way too overpriced!!!!!

Yeah, you'll say that now, the economy will crash, and yes housing will go down ( a little bit ) and then you will say

>yes we got the crash, bitcoin is 3k, yes property prices have gone down, but they havent gone down enough bro! trust me we have more to drop!

Then the fed will print trillions and trillions again, and then the $800k house youre waiting to go down to $400k will be worth $2 million.

[Anonymous No.55960076]

half of the parents are single moms, and women can't do anything. the good news s that they don't need to since they have hundreds of simps giving them free sex, free money, free help, free problem solvings

[Anonymous No.55960077]

>>55960010
this is going to fuck so many people up
they dont realize yet that upon inheritance they have a few months to produce the total sum of the taxes which ~50% or be ready to bend over to receive an assraping

also dont forget father dies, surviving mother has to pay inheritance taxes on half the house, then when she dies you have to pay another set of full taxes
if you want to have any chance of keeping the house you need to donate it before your parents go

[Anonymous No.55960086]

>>55960027
yes but biz invests its spare cash rather than spend it on (((experiences))) before you can afford such a lifestyle
and in the event you describe assets will always moon harder then real estate so just keep stacking until you can buy a house cash

[Anonymous No.55960110]

>>55960010
>Paying inheritance taxes
Lmao

There is always the option to add it to a living trust if the tax glowniggers show up. Even if he already died forging a signature is not difficult

[Anonymous No.55960119]

>>55960110
has to be done pre death, in the digital age all the loopholes of forging physical documents dont work anymore

[Anonymous No.55960419]

>>55959982
Boomer grandparents squandered what they got from their parents on drugs and alcohol, sold 150 year old heirlooms to go on cruises, didn't save for 30 years, and then only bought a 1/2 share of a shitty house that is now absolutely crumbling. Kicked out my parents at 16, then dad drank himself to death without ever working, now mom is only just getting her life together with my help.
TOTAL BOOMER DEATH

[Anonymous No.55960456]

>>55960077
Unless you are inheriting over 13 million you’re good anon. And even if you are over that threshold you have estate planners who know ways around it.

[Anonymous No.55960469]

>>55959982
they grew up poor and from broken families. they managed to carve out a middle class life, which is very respectable considering their beginnings.

[Anonymous No.55960477]

>>55959982
because the USSR

[Anonymous No.55960490]

>>55960010
>paying a tax because your father died.
what the actual fuck?

[Anonymous No.55960494]

>>55960490
You don't have inheritance taxes?

[Anonymous No.55960499]

>>55960494
fuck no

[Anonymous No.55960505]

>>55960456
a boomer house bought on 1 wage is worth about 500k euros now, 99% of people here cant produce 250k in a few months
estate planning works if done before death which most boomers are too retarded or paranoid to use
not sure where the 13 mil figure comes from as very few properties that arent historical significant approach that level
its specifically about inheriting real estate and not much else as you are taxed in euros and cant easily liquidate the real estate

[Anonymous No.55960509]

>>55959982
Because they wanted to spend money at every possible second of their lives & buy $80,000 cars every 3 years & never once paid them off they'd just trade the cars in for new ones
They've lived within the same 50 miles their entire lives but decided to always rent because they don't want to feel tied down
That's fine when rent was $700 now its $2700 & only going up
They are fucked

[Anonymous No.55960526]

if nobody in your lineage has managed to accrue wealth and neither have you, its genetic, you're just not good enough.

[Anonymous No.55960545]

>>55959982
TV was popularized and their hearts are too soft.

[Anonymous No.55961080]

>>55959989
thats middle class

[Anonymous No.55961102]

>>55959982
mom had a pre death crisis and cashed out everything on trips to jamacia and drugs. left me with nothing even spent my college fund feelsbadman

[Anonymous No.55961111]

my parents had me in their senior year.
i would not say it's my fault but damn it feels like it.
i, however, am working to make generational comfort. i'll be buying a large piece of property to place them on and plan on putting a duplex or two there as well for my children will always have a place.

[Anonymous No.55961149]

>>55959982
They finally admitted the reason was because they wanted to live comfortably.

I noticed it now as they are retiring. They never gave much thought into making financial plans, they just talked a lot of bullshit about it and kept working hard.

When you're young you don't want to believe it because they tell you all their hard work is for you. But the true selfish mentality of man is to work for ones self. Secure their own retirement, not the generational wealth.

[Anonymous No.55961161]

>>55959982
they didn't, they worked hard so I could gamble on harrypotter coins