Offbeat Rich Baby Boomers Don’t Want to Have to Leave Their Master Bedrooms

13:00  17 may  2018
13:00  17 may  2018 Source:   bloomberg.com

Police: Parents charged after 10 children "rescued from horrible living conditions"

  Police: Parents charged after 10 children The victims range in age from 4 months to 12 years; their father, Jonathan Allen, has been charged with felony torture and child abuseFAIRFIELD, Calif. — A California man has been arrested for what police say was "a long and continuous history of severe physical and emotional abuse" of his 10 children between the ages of 4 months and 12 years old. Police in Fairfield, California say they uncovered the alleged abuse after responding to a report of a missing child March 31.

Whether to leave an inheritance is a decision increasingly faced by many of the nation's 77 million baby boomers , and it's becoming all the more complicated "How can you say no when a child asks ask for a down payment for a house or money to remodel their house to have a bedroom for a second child?"

Any parent who decides that they WANT to leave nothing to their kids is extremely self-centered and uninterested in the future well-being of his family. In their innocence they were easily lead by the Jew and his rich shabazz-goyim.

Ten years ago, interior designer Rela Gleason faced a conundrum as she began to build her own house in Napa Valley, Calif.

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But they also want more rooms inside for the kids who never leave or rooms where the owners can be taken care of as they age. As baby boomers age and graduates find it harder to afford to live on their own It’s not just a “mother-in-law” apartment or basement bedroom homeowners want .

You want to read how they are changing their lifestyle. The call this industry ‘the New Economy’. And baby boomers are not getting left out that’s for sure! Loetta Paulsen on November 2, 2016 at 4:23 am. The baby boomers made America rich and we need to help them to retire respectfully.

“We had grown children and grandchildren, but they were only going to be there for a small amount of time,” Gleason says.

She and her husband wanted to have a house that could accommodate their whole, growing family. “But on the other hand,” she says, “we didn’t want to live in a big house and pass through a lot of empty rooms that felt lonely” when the family wasn’t there.

Her solution was to build a 10,000-square-foot house comprising multiple, detached pavilions. “We wanted big, soaring living spaces—I wanted a big family room so that when the family was there, we could all be together,” she says. “But we basically live in the master suite and the kitchen.”

Many affluent baby boomers have found themselves in a similar position: Their children are gone, but for whatever reason—a need to entertain on occasion, or simply an unwillingness to part with their belongings—they refuse to scale down and instead are increasingly taking refuge in elaborate master suites that serve as apartments within a much larger home.

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Baby boomers have changed just about everything over the past few decades. They want room for their [visiting] kids,” Salnick says. “They're interested in things being done for them.” She's seeing more buildings come online that appeal to older buyers with their “massive” master bedrooms , huge

Some families prefer to leave bedrooms alone when their children move out after high school; they want their children to have a familiar place to come home to. “It’s the new cool thing,” says Rozell. More and more baby boomers are playing games like mah-jongg, bunco, Uno, and poker.

Evolving Lifestyles

“We’re seeing an evolution of the way that people live,” says Michael Graves, a broker for Douglas Elliman Real Estate. “Maybe 20 or 30 years ago, you’d go to your bedroom when you were going to sleep. But now the function of the master bedroom has changed where it’s a living space as well.”

In one $11.8 million townhouse on the Upper East Side that Graves co- represents with the broker Justin Rubinstein, the master suite takes up the entire top floor. “You can spend your entire evening there,” he says.

There’s no hard data on the prevalence of these suites or the ways people use them, so the information is anecdotal. But in speaking with top brokers across the country, the trend appears to transcend geography.

“I’ve been seeing it more and more,” says Jill Shore, a broker for Douglas Elliman in Aspen, Colo. “It used to be, if you had a built-in refrigerator, that was a big deal.”

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Not all baby boomers can front the money needed to pay for their parent’s funeral costs and don ’ t want The bright side is that baby boomers whose own parents have left them with a poorly planned estate Kimberley earned a Master of Arts in English Literature and Language from the University of

But given baby boomers ' role in sanctioning today's indifference and denial, they would be richly deserved." "'Our recent survey shows us that boomers don ' t want to be defined by their age, rather by a state of mind,' says Kia Motors America President and CEO, Peter M. Butterfield.

In one 12,191-square-foot Aspen home Shore represents, an elevator goes straight from the garage to the master bedroom, which has its own office, gym, fridge, sink, and coffee maker.

Shore has listed that house for $25 million. “It used to be that you had to build a really great kitchen,” she says. “You still do, but you also have to build a really great master.”

“I’m thinking living rooms are the opposite of what they’re called, because no one lives in them anymore,” she continues. “People build cozy dens off the kitchen or master bedroom, because that’s where everyone gathers, while the living room collects dust.”

A Lifestyle Choice

This isn’t the first time giant master bedrooms have been in vogue: A $4.65 million house in Boca Raton, Fla., built in the late 1980s, has a master suite that includes a bedroom, bathroom, office, family room, bar, and gym—but brokers say it’s only recently that buyers have begun to specify that master suites resemble stand-alone apartments.

Today, people spending more than $10 million for a house want “things like wet bars, drawing rooms, dressing rooms, and oversized bathrooms” in master suites, Graves says. “Before,” he says, people wouldn’t really expect those things.”

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“I certainly don ’ t want to leave them trust funds that are albatrosses round their necks,” the musician told the Daily Mail in June. Wealthy families have always struggled with this issue. But the same drama is now playing out on a smaller scale for millions of baby boomers , who are poised to give

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“It’s very lifestyle-driven,” says Tim Davis, a broker for Corcoran who’s based in New York’s Hamptons. “It’s a very European way of living, where they’re shutting off part of the house.”

Davis, who renovated his own home to create a master suite after his children left for college (“It enables us to have this separate apartment that’s self-contained”), says many of the luxury homebuyers in the Hamptons “haven’t grown up with wealth, and some don’t know how to live that way.”

When they see giant master suites at hotels or “spend enormous amounts of money renting villas or resorts, they’ve figured out that’s how people want to live, and they say: “Why can’t I do that and spoil myself?” Davis says.

Developers, he says, have taken note. “We advise our developer clients [who are building homes on spec] to build the master suite on the first floor,” he says. “Or, if it’s on the second floor, then they should make sure there’s an elevator that goes to the space.” One $39.5 million new home in Southampton, N.Y., which Davis co-lists with broker Gary DePersia, has just that: a master suite with a sitting room and two bathrooms, which can be accessed by elevator.

It’s not just to accommodate an aging, wealthy buyer pool, Davis explains; it might just be about “getting luggage into closets.”

Think saving for retirement is unrealistic? Try retiring with no savings

  Think saving for retirement is unrealistic? Try retiring with no savings Without proper planning and preparation, retirement won’t be what you expect.Almost three-quarters of baby boomers expect to delay retirement, according to housing nonprofit organization The NHP Foundation survey of 1,000 non-retired Americans 50 and older. Why? They didn’t budget for unforeseen health-related expenses, and expected Social Security income to make up half of their monthly income. They also have unrealistic expectations about the retirement they hope to have, said Dick Burns, president and chief executive officer of the NHP Foundation. “We believe there is a rude awakening for those who haven’t reckoned realistically with the future,” Burns said.

It's a Baby Boomer era test! There are 20 questions, and the average score is 12. Weinberg wanted to suggest that his group were a closely knit group who kept their own counsel. Are You a Riddle Master ? Try Out These Tricky Brainteasers.

The baby boomers won’t be retiring like their parents did. It doesn’t leave much room for extras. “I just had car repairs and didn’t have the means to pay for it, so technically I don ’ t have a car anymore,” she said.

Hard to Let Go

There’s a certain irony to the fact that baby boomers in giant houses have begun living in suites the size of a starter apartment in Brooklyn. It’s doubled by the fact that this is almost exclusively a feature used by the very wealthy.

But from the standpoint of Gleason, the Napa Valley homeowner, it’s understandable. “We really need very little, and we prefer more intimate spaces,” she says. “But when you come from a large residence—psychologically, it’s hard to give up the sense of living big.”

Even Gleason, though, has decided that her 10,000-square-foot compound—designed specifically to accommodate two people or 20—is too much to handle. She’s put it on the market with Ginger Martin of Sotheby’s International Realty for $17 million.

“We’re 72 years old, and we know that this isn’t a property that’s going to [sell] overnight,” she says of the house, which was featured in Architectural Digest.

“When you get to be 80 years old, you don’t want to be living on 40 acres.”

To contact the author of this story: James Tarmy in New York at jtarmy@bloomberg.net

To contact the editor responsible for this story: Chris Rovzar at crovzar@bloomberg.net

©2018 Bloomberg L.P.

New charges filed against father who allegedly tortured children .
A Fairfield, Calif., father accused of torturing his children is facing an additional four counts of lewd acts upon a child, according to the Solano County district attorney's office. Jonathan Allen appeared before a judge Thursday after having already been charged with seven counts of torture and nine counts of felony child abuse or child endangerment. The court granted a motion to join the cases against Allen and Ina Rogers, who is also facing charges related to her 10 children. An amended complaint specified that the lewd acts were committed with a child under the age of 14.

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