Quote:
Originally Posted by Greedy,Greedy,Greedy
I deal with one old coot (I use the term fondly) who dealt with all these issues when raised by his kids by selling his house and moving into the Four Seasons. Presto - endless people looking to wait on him, providing him company, and take him where he wants to go. Of course, he's running through the kids' inheritance like there is no tomorrow, but that pleases him as well.
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I've never bought the economists' argument that the death of baby boomers is going to result in this enormous transfer of wealth to younger generations via inheritance. Having represented assisted living and nursing home companies, I'm confident a majority of that transfer will be to those entities. Or, if one is lucky enough to avoid needing assistance, to a Four Seasons.
Daltrey's "hope I die before I get old" line seemed naive and arrogant when I was in my 20s. It evidences sage wisdom, revealed in small but steady increments, as one cruises through middle age.
