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To: Voltaire who wrote (55598)	12/21/1999 9:57:00 PM
From: SpudFarmer	Respond to of 152472

Not goulish at all, reality. I too have watched this unfortunate situation a lot this year. Last study I remember hearing was that the capital from inheiritance will dwarf what has been seen in the last 5 years. (Most of the reason why govt. budgets are argued about.) It is not limited to CD's either. Land, homes, and other assets are just waiting to be given away, things we don't even know exist. Of course, this is never mentioned in public (media), too sensitive. It also allows the 'experts' to throw economic caution flags around like NFL referees. This bull market momentum will continue to feed upon itself and blaze like a forest fire. But what do I know? Q rocks, just a matter of time...

To: Voltaire who wrote (55598)	12/21/1999 10:09:00 PM
From: ZOOB	Respond to of 152472

My sympathy on the loss of your dad. Similar situation two years ago with my dad. Drove mom to various banks to cash in the CD's and open a single account. Mom now watches CNBC and a new interest in life. She even called me at work today to let me know that Q touched 500!!!!! Yeah, your're right......gruesome as it sounds......lot of cash is moving into the market from inheritance.

To: Voltaire who wrote (55598)	12/21/1999 10:11:00 PM
From: T L Comiskey	Read Replies (1) \| Respond to of 152472

Voltaire....good point on inherited wealth....read an article last year stating that the greatest transition of wealth between generations was under way...and would continue for the foreseeable future...Stay Well Tim

To: Voltaire who wrote (55598)	12/21/1999 10:14:00 PM
From: Lynn	Respond to of 152472

Boy, V, you sure did bring up a heavy topic, but one many of us have to at least attempt to acknowledge: that our parents are getting old. One of my brothers and I had this conversation just last weekend. The amount of wealth in the hands of this generation has indeed been underestimated. Our grandparents, no matter how well they ultimately did, took a financial hit during the depression. Our parents, little children at best during these times, have lived their adult lives during a time of great prosperity and a number are worth more than many people on this thread will ever make via Q. The only thing you mention, V, that really does surprise me is that the people close to you in our parents' generation have their money in CDs. I don't know if this is a regional thing, but I know for a fact that my parents, their parents (when they were alive), and their friends have never had any of their money in CDs. Not one cent. Bonds? Yes. CDs? Never. A lot of our Baby Boomer generation's spending power, unfortunately, is going to be obtained through the sorrow of losing our parents. The question is whether we deal with this humongous wave of wealth in a responsible manner or squander it. How we as a generation, not as individuals, deal with it will be a permanent legacy of "The Baby Boomer" generation. Lynn

To: Voltaire who wrote (55598)	12/21/1999 10:52:00 PM
From: Mannie	Read Replies (1) \| Respond to of 152472

On the subject of the generational transference of wealth...did anyone catch the commentary last week on NPR, by that Socialist dwarf, Robert Reichauer? He argued the point that inheritance taxes needed to rise abruptly, for several reasons. First he said that large amounts of money that come to a person, unearned, ruins a person. Two, inheritance reinforces the social and cultural divide that exists in this country. There were more points he made, but I was throwing stuff at the radio by then. I'm sure glad that guy is as far from Government as possible. Could he be Canadian?

To: Voltaire who wrote (55598)	12/21/1999 11:22:00 PM
From: TigerPaw	Read Replies (2) \| Respond to of 152472

what do we do with the money? I was recently asked to help with the accounts of my grandmother-in-law who is alive but unaware of her finances. The funds have been in money market for several years. While half is still available as cash, I put the rest into some "safe" stocks (of which only GE has gained) and half into those risky tech stocks QCOM, JDSU, & GMST (plus LU which I sold today). The new allocation has already outperformed the money market for the entire time it was invested (since OCT). TP (edit) It's twice as stressfull to invest someone elses money as your own.

To: Voltaire who wrote (55598)	12/22/1999 4:57:00 AM
From: Jimbo	Respond to of 152472

V. - I'll add my own experience too - my dad passed away in April - he too had accumulated wealth - he was very risk averse - I immediately started selling and moving into tech. Returns have been phenomenal ! Us Baby Boomers are aquiring through inheritance great amounts of wealth - where else for it to remain but the market - should continue for some time !

To: Voltaire who wrote (55598)	12/22/1999 7:52:00 AM
From: Jon Koplik	Read Replies (1) \| Respond to of 152472

Voltaire - I once read an article about this HUGE inter-generational wealth transfer (via death) coming up over the next 10 to 20 years in something like Institutional Investor magazine or the WSJ or whatever (I cannot remember which). The whole thrust of the article was : although it was clearly stated that (of course) it was a little bit weird (and "ghoulish") to be talking about it, traditional asset managers are all "licking their chops" and "smiling ear to ear" waiting for the inevitable deaths and asset transfers to take place because of all of the business that should flow to them. Although I know "traditional asset managers" WILL get some of the funds, I hope and assume they will get a lot less than they would have received many years ago. Things like Vanguard Index 500 mutual fund, plus people daring to "do things themselves" (in general) more today than in years past should help to deprive the "traditional asset managers" of at least some of their (rip-off) fees. (I know some people will (unfortunately) really screw up if they handle investment funds themselves. But, the (excessive) fees avoided by those who do things themselves will be massive). Jon.