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Exclusive Content:

A massive wave of wealth transfer is underway in the US, with Millennials and Generation X inheriting $72 trillion over 20 years.

Over the next 20 years, American millennials and

MarketWatch reports that consulting firm Cerulli Partners estimates that this event, known as the “giant wealth transfer”, would allow $72.6 trillion of wealth to be transferred directly to the next generation, and another $11.9 trillion Will be donated. This wealth transfer is accompanied by demographic changes, with record numbers of Americans turning 65 over the same period.

Even if life expectancy increases and health care costs include some transfers, a lot of money will still change hands. DeMillo, senior vice president of Spinnaker Trust Company, pointed out that the increase in the value of homes and stocks in the hands of Baby Boomers has increased the wealth of American households, but the impact of this wealth transfer effect will vary. Family to family.

This wave of wealth transfers will not benefit everyone equally, and may even increase income inequality.

Overall, inherited wealth will have a significant impact on Millennials and Generation Will be capable.pension,

Experts believe that Millennials and the oldest members of the generationpandemicThe financial crisis caused by the crisis has led to a more disciplined use of money. Some families have begun to transfer money and give gifts using the annual gift exemption.

To strengthen their children’s financial education, older generations need financial advisors to attend family money meetings to help their children plan and learn about diverse financial resources.investAnd tax saving schemes.

Williams, managing director of financial planning at Charles Schwab, said some families are also developing family value statements or planning for the use of money, as older generations want to not only leave a legacy, but also provide guidance.

finance(tagstotranslate)pension

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