The Greatest Wealth Transfer In History

According to The New York Times, the greatest wealth transfer is here, with $84 Trillion set to be passed from aging boomers to Gen X and Millennials. But there's a problem...

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this video, however makes no representations or warranties with
respect to the accuracy or completeness of its content. The contents
of this video should not be considered a substitute for
professional financial advice. Please consult a financial professional
before implementing any of the strategies described in
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[tamaras.]

Nolan, thank you it did hit home. I loved your message today 🎉

[heatherroach]

Yes on not relying on the government. Good video.

[sidharth.kavalu]

1. This is an interesting take on how they are the most successful generation.
2. It's intriguing as an Immigrant why most Canadians think the Govt and State are doing a good job here and also how they are expected to bring about change.
The sooner everyone realises that the game is rigged and the only way to win is to play the game and get ahead and take care of your community.
3. Loved how you transitioned the video on what's needed to be successful in life.
Great video as always Nolan

[sergest-amand]

At 0:20 you say the top 1% of the families in the US control 90% "of that wealth that is about to be passed down". This doesn't align with what you say in the segment starting at 2:48: "92% (of the wealth) is controlled by the top 50%" (of households, I guess). There's no way that the in-between 49% (the "real" upper middle class) controls only 2%. So, what I'm I getting wrong? Or please add some post-prod subtitles to set things right.

[stanleyituah]

Those last 4mins told it all. My wife and I purchasing our third house this year and it's our forever home. Five years ago we sunk all our savings into a town home, and each worked 2 jobs to keep the roof over our heads. All our friends told us that we made the wrong choice, the market was too hot, we should have waited. We had sleepless night, worrying about everything. But we kept telling ourselves that if we try hard enough, we'll make it.
I've seen too many people waiting at the sidelines even when they had the money because they were too scared. We can't predict the market, it doesn't matter what you do, you just have to educate and believe in yourself.

[epictetus]

Don't worry in canada people can't pass on wealth as easily as in the states after canada changed trust laws. So the government will be taking a huge chunk of inheritance, still doesn't go to the poor.

But that doesn't matter because as long as they "tax the rich" the poor keep thinking that they are somehow getting ahead.

[saacid]

Individual solutions for a collective problem. If everyone did the same things you mentioned, everyone would still be competing for the same homes

[kev]

5:40 I don't get this -- are you saying it would leave the country because they'd use the tax money for neoliberal purposes? Should've been more clear with this take.

[das_it_mane]

I agree with the general sentiment that we shouldn't just wait on the gvmt to solve our problems HOWEVER please understand that a lot of these economists are trained to frame things from a neoliberal perspective, so they will be incentivized to find talking points such as "rent control hurts the poor AKSHUALLY". It's ludicrous. Rent control + tenant protections wouldn't hurt the poor. Policy needs to be a game of chess/wack a mole with the way greed finds loopholes. Unless we wanna just throw out the whole system and look at solutions like what Vienna is doing.

[CryptoCryoto]

Quick put all your money in the bank Gold and Silver are the stupidest investments ever! 😂 lol.

[Helfirehydratrans]

Thing that pisses me off about all of these things at first heard about the world transfer and that everyone is talking about it like it’s a good thing when it actually is a bad thing because you don’t wanna wealth transfer of the money going to the 99% but the one percent made more money while everyone made less during the pandemic the wealth divide grew instead of shrunk, the rich got richer while the poor got poor and it’s not stopping anytime soon by the end of this year inflation will be up 19% in my country

[craigbeaumier]

Mindset skill set action. I do agree with the message but whenever I hear this kind of “pull yourself up by the bootstraps” kind of message I feel it’s important to note that the bottom 50% of earners contain all the people who have the skills set problem. This is not an insignificant portion of society and includes people with intellectual or learning disabilities (often undiagnosed), addiction issues (not an easy “mindset” to fix, unresolved trauma, mental illness, physical illness, marginalized groups, single parents, the list goes on and on unfortunately). My point is that while the message in this video is motivating and pointant for people who are functioning well, there are many that actually need those who have the ability to hold and carry through the mindset into actions to turn that same attention towards helping and bringing up this that simply cannot. I believe in your message Nolan and what you are doing with this channel, I just like to bring some balance into the conversation and remind people that just because some have capacity it doesn’t mean that capacity is available to all.

[bat]

There's tons of people that are extremely lazy or their hard-working but spend every dollar they get as soon as they get it. They even spend faster than they make it. Your spending habits dictate your wealth level.

[Johnny_Doe]

Wealth Tax = Middle Class & Poor Tax LMFAO

[rp.aguilera]

How does rent control affects the poor the most?

[mikeszymanski]

I’m extremely bearish on the debt fuelled housing market that is over priced and unsustainable but having said that, anyone who needs perspective on personal property or wealth distribution should read “The Law” by Bastiat or “Atlas shrugged” by Rand if they have some time on their hands..

[epictetus]

You are 100% correct, the more they keep taxing wealth the more people will move their wealth abroad. If you don't tax the rich, what do they do? They spend and invest which means more money around for everyone.

Make canada more friendly to investors not less friendly and everyone will benefit.

[clytanf]

How does rent control affect the poor the most?

[dealman]

There is always a way.
Read Kiyosaki’s book when it came out back in the day and didn’t look back.