Millennials and Generation X will inherit over $70 trillion from baby boomers. The great wealth transfer could shift $72.6 trillion directly to members of Generation X and millennials from their baby boomer parents over the next twenty years.
by mafco
6 comments
Yes, this is how inheritance works.
Sassiness aside, assuming this accounts for all 71-some-odd million baby boomers, that would come to an average of almost $1M in inheritance. Seems high at a glance, but I suppose one 10 million dollar inheritance offsets 9 zero dollar inheritances.
As always, the key to success seems to be to be born to rich parents.
“Could”. End of life care is going to suck up a lot of it first. I need to find myself some rich parents now.
72 trillion sounds like a lot, but it’ll be worth 72 billion by the time they see it because of inflation
At least half of that wealth is going to get funneled into retirement homes and in home care.
*Private healthcare has entered the chat*
Does anyone worry about where this wealth is held. Speaking anecdotally, it seems likely the wealth is tied up in real estate. Parents holding on to houses they have had for the last 25 years. Now that they are retired it is too expensive for them to move to a place where they can rent or take a mortgage on. So they live in a house that is too big for them and that has massive value because no one is selling and more people want to buy. But what happens when these places start going on the market en masse from Estate sales?