Welcome to The Now

 Back in January, the Pew Research Center revealed some interesting news : That said, Baby Boomers are still around and still control the Senate and a number of Congressional Chairs (as leadership is tied to seniority). In other words: the future of this country is still be determined by those who will not be around to see the short or long-term consequences of their decisions. 

 

 Hint: She's in her 80's at an assisted living facility:

From CNN : Many millennials are currently grasping in frustration at long-held American Dreams like homeownership, a steady job and an affordable cost of living. However, over the next twenty years, Millennials are poised to inherit some $90 trillion of assets and become the richest generation in history – but only the ones who already come from affluent families, potentially deepening wealth inequality further . Between now and 2044 in the US, the Silent Generation and Baby Boomers are expected to hand over the reins of their significant wealth to Millennials, according to The Wealth Report, a periodic report from global property consultant Knight Frank. But whether you’re a Millennial on the receiving end of that wealth transfer is largely a lottery of birth. Ultimately, this wealth shift is a result of inheritance from prior generations, largely involving property but also other assets . It will bring “seismic” changes to how wealth is put to use, said Liam Bailey, global head of re...

 Apparently not every Boomer in a comfortable home want that much real estate : After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California. Both over 70, the Dragos are empty nesters, and like many of their generation, they’re trying to figure out how to downsize from their 3,000-square-foot, five-bedroom home. “We are here in a huge house with no family nearby, trying to make a wise decision, both financially and for our well-being,” said Dragos, a retired teacher. But selling and downsizing isn’t easy, appealing or even financially advantageous for many homeowners like the Dragos family. Many Boomers whose homes have surged in value now face massive capital gains tax bills when they sell. This is a kind of tax on the profit you make when selling an investment or an asset, like a home, that has increased in value. Plus, smaller homes or apartments in the neighborhoods they’ve come to lo...

Here we go : CHICAGO (AP) -- Through a combination of procrastination and bad timing, many baby boomers are facing a personal finance disaster just as they're hoping to retire. Starting in January, more than 10,000 baby boomers a day will turn 65, a pattern that will continue for the next 19 years. The boomers, who in their youth revolutionized everything from music to race relations, are set to redefine retirement. But a generation that made its mark in the tumultuous 1960s now faces a crisis as it hits its own mid-60s. "The situation is extremely serious because baby boomers have not saved very effectively for retirement and are still retiring too early," says Olivia Mitchell, director of the Boettner Center for Pensions and Retirement Research at the University of Pennsylvania.

Can't be right all the time .