The Great Wealth Transfer
How Generational Wealth Will Change the Future
It’s been called, “the greatest wealth transfer in history,” and it’s about to make some huge changes for the younger generations.
According to recent reports, the age group struggling the most right now may actually end up being “the richest generation in history."
Here's what's currently happening, and what is likely to happen as Baby Boomers hand over their assets to the young adults who "don't want to work."
The "Great Wealth Transfer"
The Great Wealth Transfer refers to an intergenerational wealth transfer that is underway in the United States, among other nations, with the Baby Boomer generation leaving significant wealth to their heirs.
Baby Boomer Wealth
Over the next 20 years or so, the Silent Generation (1928-1945), and the Baby Boomers (1946-1964) will essentially “hand over the reins” to Millennials (1981-1996) when they pass on their property and equity-rich assets.
Millennials
Knight Frank says in the U.S. alone, the shift will see nearly $85 trillion of assets move between generations—ultimately making wealthy Millennials "the richest generation in history."
Generational Struggles
Although the math makes complete sense, it comes at a bit of a shock, and possibly some relief for Millennials themselves.
