The Great Wealth Transfer is expected to pass trillions of dollars from Boomers to Millennials but few people are prepared for a large inheritance. In fact, 72% of Americans are not confident they can handle a large influx of cash alone, a recent Citizens survey by Wakefield Research found. Read more by Suzanne Blake and Newsweek at https://lnkd.in/ehWVcUQ9 #personalfinance #wealthmanagement #marketresearch #survey
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According to Bank of America, the #GreatWealthTransfer is more than the projected $72 trillion in assets that baby boomers and government are going to pass onto millennials based on its research.
The ‘great wealth transfer’ isn't $73 trillion but $129 trillion, Bank of America says—and the government gave most of it to baby boomers
fortune.com
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Millennials are purportedly poised to be the wealthiest generation in history, but are they ready to handle the vast inflow of money? Let me help guide a family meeting that can prepare all generations for the transition of wealth. christian.ofner@rbc.com
Millennials are ‘very ill-prepared’ to be the richest generation in history, wealth manager says
cnbc.com
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The winner takes it all, including financial anxiety. That might be the case for the younger generations who are posed to benefit from the incoming historic Great Wealth Transfer. Boomers, who account for half of the wealth in the U.S., are expected to distribute an expected $72 trillion to their offspring. While that includes some Gen Xers and Gen Zers, the Great Recession-afflicted millennials are likely to be the biggest winners of this reallocation, as they’re the typical children of boomers and have climbed one economic hurdle after another. The transfer is set to make them five times richer in 2030 than they were approaching the beginning of the decade. But many of those expecting an inheritance feel they’re not ready to manage their unprecedented slice of the pie and that it won’t be as valuable in today’s economy. Read more: https://lnkd.in/gCNpbDQF
Boomers' $72 trillion Great Wealth Transfer to millennials may come with strings attached
fortune.com
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The great wealth transfer is happening over the coming 10 years as the Generation X will replace the Babyboomers. Over the coming 20 years the Millennials will take over from Generation X. How will financial institutions and cope with these two shifts of generations in two decades? A few certain is that services will be digital services received with a can-do-self attitude #fenixfamily #fenixlife #greatwealthtransfer #finance #wealth #wealthmanagement
An enormous global wealth transfer from boomers to younger generations is on the way, report predicts
irishtimes.com
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Forbes, Board of Directors Blind, Founder and CEO of The Compliance Search Group and Wecruitr.com, Co-host of the Blind Ambition Podcast
Great Wealth Transfer: How The $90 Trillion Windfall For Millennials Could Change The Job Market by Jack Kelly Forbes The transfer of wealth from one generation to the next is a complex, multi-layered, emotional event. Parents who worked hard over the course of many decades will one day face their mortality and need to determine what they’ll do with their money. Since you can’t take it with you when you're dead and buried, the Baby Boomer generation is in the time of their lives when they must start preparing for how much money they need to survive and thrive in the sunset years of their lives and how much they will leave to their children. According to a recent report by global real estate consultancy Knight Frank, $90 trillion in assets will be transferred between generations in the United States over the next 20 years. This shift will make Millennials—and to a lesser extent, Generation-Z —the wealthiest generation in American history. https://lnkd.in/epk2J7sj
Great Wealth Transfer: How The $90 Trillion Windfall For Millennials Could Change The Job Market And Economy
forbes.com
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Financial advisers must get better prepared for the fast-approaching transfer of intergenerational wealth from Baby Boomers to Gen X, Millennials, and Gen Y. https://buff.ly/44TC3iG #IntergenerationalWealth
Advice critical as intergenerational wealth transfer looms
https://www.professionalplanner.com.au
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Millennials Poised To Become The 'Richest Generation In History' By Inheriting Over $78 TRILLION In Next Two Decades A gigantic wealth transfer over the next two decades will make Millennials 'the richest generation in history’, with Millennials in America inheriting over $78 trillion in the next 20 years. This massive wealth transfer is largely attributed to Baby Boomer home-ownership and rising property prices, which have shot up by around 500 percent since 1983, as well as the Baby Boomer generation benefiting from the ‘great social mobility’ when house prices were low and labor conditions were strong. Overall, figures from the Federal Reserve show that U.S. households hold $159 trillion in assets. Of this, Boomers hold $78.1 trillion while Millennials hold just $13.3 trillion. The Silent Generation also holds $18.6 trillion, while the remaining $46 trillion is held by Generation X. However, 20 years is a long time to wait for any kind of wealth transfer... On-Demand Pay can help provide your employees financial relief today and is proven to help save each worker approximately $1,200 per year. On-Demand Pay helps cash-strapped employees by giving them the ability to receive their wages (at zero cost) whenever they need it most, giving them better cash controls and money management tools. #Millenials #WealthTransfer #Money #DigitalBanking #OnDemandPay #FinancialWellness #Rellevate #RellevatePayCard #EWA #EarnedWageAccess
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Millennials stand on the brink of a significant wealth transfer, set to inherit $90 trillion over the next two decades. However, this windfall may deepen wealth inequality, favoring those born into affluent families. Amid evolving attitudes towards property ownership and investment, the rise of first-generation wealth creation and diverse entrepreneurial opportunities signal seismic shifts in wealth dynamics. Meanwhile, the ultra-wealthy, buoyed by improving economic conditions, continue to favor property investments, with North America leading the surge in super-wealth creation. https://lnkd.in/eK3-TjCn
Millennials stand to become the richest generation in history, after $90 trillion wealth transfer | CNN Business
cnn.com
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Millennials stand on the brink of a significant wealth transfer, set to inherit $90 trillion over the next two decades. However, this windfall may deepen wealth inequality, favoring those born into affluent families. Amid evolving attitudes towards property ownership and investment, the rise of first-generation wealth creation and diverse entrepreneurial opportunities signal seismic shifts in wealth dynamics. Meanwhile, the ultra-wealthy, buoyed by improving economic conditions, continue to favor property investments, with North America leading the surge in super-wealth creation. https://lnkd.in/grgyTmDt
Millennials stand to become the richest generation in history, after $90 trillion wealth transfer | CNN Business
cnn.com
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