I think you're right and agree that it will be interesting to see how this unfolds. I have seen the meme going around about Boomers choosing to spend all their wealth on vacations of luxury cars and leaving their kids almost nothing, but I personally haven't seen this in my own sphere, and it seems mostly like a campfire scary story for Millennials. My own parents refer to their wealth as if it is my money that they are stewarding for me, despite me not actually needing it.