Admin

Web 3 - Ten Years After!

By
Commercial Real Estate Agent with Trans State Commercial Realty Inc. 0516472

 

I read this article below that sparked some memories from my Rock and Roll Yesteryear days. "I'd Like to Change the World" was a hit on this album.  I saw this band, 10 Years After, live at The Filmore East in The Village, New York City ages ago.

 

 

I recently added a tool to my real estate box when I Certified Crypto Currency for Real Estate Acquisitions and Dispositions here in Florida, USA.  The course was given by Propy. I now received their newsletter.  This article below is included and quite interesting.

Enjoy the read 

 

"The $84 Trillion Wealth Tsunami: Gen X and Millennials Brace for Impact

 

Baby Boomers, who hold a staggering $78.3 trillion, are set to transfer $84 trillion to Gen X and Millennials in the next decade. This isn't just a sprinkle of wealth—it's a downpour, and the younger generations are about to get soaked!

 

Boomers currently control 55.93% of US wealth, but that's about to change. As this fortune flows to Gen X and Millennials, the financial landscape is primed for a seismic shift. Gen X (34.14% of current wealth) and Millennials (10.14%) have very different investment tastes compared to their elders. While Boomers and the Silent Generation stuck to traditional assets, the younger crowd is head over heels for crypto. 

 

Check out the stats: 

- 28% of folks aged 21-43 are already diving into digital assets.

- Only 4% of the older generations are dipping their toes in the crypto pool.

 

So, what happens when $84 trillion gets handed down? A massive $20 trillion could flood into the crypto market, potentially boosting its value 11 times over. Imagine Bitcoin and other digital assets skyrocketing as this new capital pours in."

 

Boomers Transferring Wealth

*Source Bank of America Private Bank 2024 Study of Wealthy Americans

 

Although the bitcoin market has taken a dive this week, the above report spells out what will happen in the next ten years.  

 

Note to all:  Tax Laws, Trusts, Wills require ongoing estate plan updates.  Advisors are needed to manage investments, financial affairs, including attorneys, accountants, financial planners and private bankers.  

 

From a residential perspective there is a $42 Million Dollar Waterfront Estate available for sale.  This purchase is available with the use of crypto funds and fiat.

 

IF you have an interest in digital currency and wish to purchase a property here in Golden Beach, Hollywood Beach, Hollywood Lakes, Hallandale Beach Golden Isles, THEN contact me to discuss your timeline and criteria to make it so.

 

 

Posted by

(954) 483-2912
CALL or TEXT

Email Me
About Me | My Blog

Website

   

florida real estate water view

Eileen Burns is the advocate you need on your side for your South Florida real estate needs. She is the real estate connector!
Is it time to discover your Florida dream home?
Let's Talk!
Eileen also specializes in probate transactions to help you navigate a course through to completion.
Are you looking for a good commercial property investment? Eileen is the one to connect you to it.
When you are ready to chat, please reach out. She looks forward to talking with you!

 

Jeff Masich-Scottsdale AZ Associate Broker,MBA,GRI
HomeSmart Real Estate - Scottsdale, AZ
Arizona Homes and Land Group/ Buy or Sell

Hi Eileen that prediction is coming true. Maybe the transfer of wealth to the next generation is where the term "when it rains it pours" comes from. Jeff

Jul 05, 2024 09:24 AM
Eileen Burns 954.483.3912

Probing into the Origins of “When it Rains, it Pours”

The popular phrase “When it rains, it pours” is widely believed to have stemmed from an advertising slogan. In 1911, Morton Salt employed this saying to communicate the effectiveness of their newly developed anti-caking agent, which kept their salt flowing freely, even in damp weather, implying that their salt pours consistently and reliably.

Jul 05, 2024 09:32 AM
Kat Palmiotti

Interesting tidbit Eileen Burns 954.483.3912 !

Jul 06, 2024 05:06 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

Our children and grandchildren will be sorely disappointed. We are transferring nothing to them. Whatever of value is left in our estate when we pass will go to favorite charities.

Jul 05, 2024 09:53 AM
George Souto
George Souto NMLS #65149 - Middletown, CT
Your Connecticut Mortgage Expert

Eileen Burns 954.483.3912 I have a real hard time wrapping my mind around crypto currencey.

Jul 05, 2024 12:55 PM
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

I am with Nina Hollander, Broker  the assets will go to Pet friendly rescue organization, Endre

Jul 05, 2024 10:11 PM
Nina Hollander, Broker

Endre Barath, Jr. we are leaving money to the Humane Society, my high school (a private high school raising money to be totally tuition free), Tunnel2Towers, and St. Jude.

Jul 06, 2024 05:43 AM
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I do think this is true - that lots of funds will start being transferred to children from Baby Boomers. Who knows how they will use them?

Jul 06, 2024 05:07 AM
Brian England
Ambrose Realty Management LLC - Gilbert, AZ
MBA, GRI, REALTOR® Real Estate in East Valley AZ

I have some stock in Propy courtesy of Ray Henson and follow them on X, but I don't read everything they post, haha.  Have you worked transactions that involve cryptocurrency?  I have seen that they are doing quite a few deals in Florida.

Jul 06, 2024 05:27 AM
Ray Henson
eXp Realty of California, Inc. (lic. #01878277) - Elk Grove, CA
Realtor

I am part of the 4%.  I own some Bitcoin, Etherium, Cordano, Polygon, Polkadot and, as Brian England said, Propy.  I also have a few shares of stock in Coinbase.  Last year was awesome.  These last couple of weeks, not so good.  There are many uses for Crypto already and I think there is much more to come. 

 

Of course, I think it is just the beginning and that there is a lot of risk involved.  I  feel the same way about AI, Quantum Computing, Biotech, Robotics, etc.  High risk, high reward....I hope, I hope. 😉  It is hard to pick the new technology winners, but it is also where new wealth is created.  I am excited for the next generations.  They have so many opportunities, if they just do not get scared away from it. 

Jul 06, 2024 03:37 PM
Laura Cerrano
Feng Shui Manhattan Long Island - Locust Valley, NY
Certified Feng Shui Expert, Speaker & Researcher

2020 hindsight I suppose, but I think there are a lot of interesting things ahead that we can focus on with regard to this kind of thing..

Jul 06, 2024 09:41 PM
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

I don't know about bitcoin, but I am a great fan of TYA.  Great songs!!  Neat to see something like that on AR!  Thank you.

Jul 07, 2024 02:16 PM
Eileen Burns 954.483.3912

John Henry, Florida Architect rockers forever😎 

Jul 08, 2024 06:54 AM
Debra Leisek
Bay Realty,Inc Homer Alaska - Homer, AK

I love Ten Years After!  Great Band!  Not so sure about crypto but your post is very interesting and informative! I am listening! 

Jul 07, 2024 11:05 PM
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

Thanks for bringing up old memories Eileen Burns 954.483.3912 . Actually I listened to that album less than a month ago. As far as bit coin nothing on Earth would get me involved with it. Neither my of my children, ages 22 and 23 have any faith or trust in it either.

Jul 08, 2024 08:03 AM
Jeffrey DiMuria 321.223.6253 Waves Realty
Waves Realty - Melbourne, FL
Florida Space Coast Homes

I think everyone should own a bit of Crypto in your portfolio. Even if it is just a small amount. 

Jul 08, 2024 11:27 AM
Eileen Burns 954.483.3912

Jeffrey DiMuria 321.223.6253 Waves Realty do you have a cold wallet or both

 

Jul 08, 2024 01:40 PM
Dr. Paula McDonald
Beam & Branch Realty - Granbury, TX
Granbury, TX 936-203-0279

Thought-provoking information for sure. As a Boomer, it is important to know how and where you would like to sell, donate, or share your assets.

Jul 09, 2024 11:46 AM
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Eileen:

That was certainly an interesting read. And much to think about and perhaps act on.

Jeff

Jul 09, 2024 01:28 PM
Tracy Lee Parker
RE/MAX DFW Associates - Royse City, TX
Buy*Sell*Rent

Hi Eileen, I know nothing about Cryto, Cold Wallets etc... I want to but don't know where to start. When you read online , you can easily go down a rabbit hole! I believe my son in law & daughter invested in some Bitcoin or Crypto , is that even the same thing?! See, I know nothing! lol😁

Jul 19, 2024 07:16 AM
Eileen Burns 954.483.3912
Trans State Commercial Realty Inc. - Fort Lauderdale, FL
FLorida Real Estate Connector

Tracy Lee Parker NAR hosted a beginner's class that piqued my interest.  The class was so exciting I continued to seek a certification.  Bitcoin is crypto so is ethereum.  Blockchain is where the digital funds are kept either cold or hot wallets.😎

Think of it as a checking and savings account with the registrar and passbook.  Just new names attached to what they do. 

Jul 19, 2024 07:35 AM