undefined | Better HN

0 pointslotsofpulp4y ago0 comments

I think you might be referring to top 10% of households.

https://dqydj.com/net-worth-by-age-calculator-united-states/

75th percentile gets to only $800k by age 70, and that is including the equity in their home. Maybe the beneficiaries of the 70% to 90% households will end up with real estate worth a few hundred thousand, but I do not see much wealth being passed down beyond that.

Labor is only going to get more expensive as greater proportions of the population age out of the workforce and become labor buyers rather than suppliers. Unless many start dying younger than anticipated without using a lot of medical and nursing home care, I would not expect much if I was their descendant.

0 comments

1 comments · 1 top-level

lmt554y ago

A 'few hundred thousand' is a lot of money to inherit, and for lots of middle-aged people and young families it will go straight back into the housing market, typically in areas that are already quite hot.

Note that the upper quartile having $800k includes $500k which isn't in their primary residence. Older people tend to own cheaper houses than you might think, since they are more likely to live in more rural areas.

If you're 70 and have a house you might be able to live quite a few years on half a million. In practice, you have a decent chance of dying before you spend all your capital.

j / k navigate · click thread line to collapse