$73 Trillion To Children, Grandchildren Through 2045 -- November 5, 2023

Locator: 45947INHERITANCE. 

From Barron's, November 4, 2023: I found the article minimally worth reading. Whatever. From the article:

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Flashback

Posted February 2, 2023:

Re-posting: from December 3, 2022. See chart below.

Of course, not even close to being evenly divided among each member:

• the silent generation: $20 trillion; silent generation = 23 million = almost $1 million each.
• the boomer generation: $70 trillion; boomer generation = 78 million = almost $ 1 million each

Boomers:

• born 1946 - 1964
• current ages, 59 years old to 77 years old
• if one assumes the $70 trillion is a snapshot in time, that number could certainly grow significantly over the next 10 years
• ten years from now: 69 years old to 87 years old, by which time the bow wave has peaked, and the numbers start to decrease
• it will not be until 2030 when all boomers will finally be over age 65 -- that's almost ten more years.
  

Baby boom age wave theory, link here:

• most interesting in light of JPow's remarks yesterday:
• in 2006, Dychtwald predicted a massive slowdown in workforce growth, arguing the generations that followed the baby boomers would fail to replicate the quantity of labor provided by the vast number of people born in the 19 years after World War II.
• Covid-19 exacerbated that labor issue -- as mentioned by JPow yesterday
  

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Re-Posting

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Our Plan

Our plan: 

• May 
• gives all of her social security to the grandchildren.
• gives her IRA RMDs to the grandchildren.
• Bruce
• My RMDs, significantly more:
• 30% to the government (taxes)
• 50% to the grandchildren
• 20% back into new investment accounts
  
• cash from pension:
• a minimum of $200 / month for the grandsons in an investment account for their Disneyland/Lego trips
• they are three years old now
• Legoland, San Diego: when they are eight years old
• Disneyland, Los Angeles: when they are twelve years old
• a minimum of $500 / month for Sophia's investment account for college; starting next year that will go to a minimum of $1,000 / month
• $1,000 / month to younger daughter in cash
• $1,000 / month to older daughter in services, cash
  
• no money is taken out of investments except RMDs
• to date, no money has been taken out of dividend stream for these "gifts"; that could change in the out years, but I doubt it since RMDs will most likely cover everything

• Plan: 
• will still leave generous inheritance
• thoughts
• max out spousal IRA for younger daughter starting next year 
• consider additional avenues for future education expenses for Sophia, Judah, and Levi