I’ve been noticing what seems like a growing trend among Boomers, both in the news and in real life conversations about their children and grandchildren, of embracing the idea of “dying with nothing.” Essentially, spending all their money during their lifetime rather than leaving behind an inheritance for future generations.
And I’m curious where this shift in mentality came from.
I understand that older people’s money belongs to them. They’re entitled to enjoy their retirement, travel, pursue hobbies, and spend the money they’ve earned however they want. I’m not arguing that children are automatically entitled to their parents’ wealth.
What confuses me is that Boomers, as a generation, often benefited from economic circumstances and, in many cases, inherited wealth or assets from the Silent and Greatest Generations. Things like family homes, land, savings, and other assets helped some families build generational wealth.
Now, younger generations are facing increasingly expensive housing, education, healthcare, and childcare, and it seems there’s a growing attitude among some older people that their children and grandchildren should simply figure things out for themselves.
What I find very odd is that this sometimes seems to be framed as a point of pride. Not just “I want to enjoy the money I’ve earned,” but “I intend to spend every penny so my children don’t get anything.”
When did leaving something behind for your children stop being viewed as a positive thing and start being framed by some people as enabling entitlement?