> Elderly care is basically going to wipe generational savings from the 20th century off the map
Probably for the best.
Currently most of that wealth is being hoarded by the top 0.1%, at the expense of 8 billion people having to deal with global warming for the foreseeable future (e.g. - centuries).
If that's the best humanity can do with wealth, then burn it all down. As long as we keep some advances from medicine (vaccines, dentistry) and technology which aren't as energy intensive, it should all work itself out in the end.
What's going to wipe out billionaires is lack of a highly-educated workforce, because no one is having babies.
And no, you can't completely solve this by immigration (because the demographic crisis is global).
They might still stay billionaires in absolute terms, but a lot of their wealth will be wiped out as companies struggle to sell their goods to a population with reduced purchasing power (since we're too busy taking care of elderly folks)
Elderly care is basically going to wipe generational savings from the 20th century off the map and all that wealth will be reallocated to PE.