Quote:
Originally Posted by Chi-Town
The age group that experienced the full effects of the Great Depression who were very frugal and loathe to spend money frivolously have left us or will soon. Their estate is passed to their heirs tax free (in most cases), and may be a factor in the high millionaire rate here.
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Yes. OR, they picked up frugal habits from their depression-era parents and lived below their means. Now those habits are paying off.
It will be interesting to see how the next generation handles inherited windfalls that their parents (us) were so careful in spending.