The generational wealth transfer is upon us, and it’s the largest one we’ve ever seen. Not only that, but the hedge fund billionaire Ray Dalio has identified why it’s great news for American households and terrible news for the federal government, and it likely has something to do with last week’s historic downgrade.
An estimated $73 trillion will be passed down from aging boomers to their heirs, many of whom are millennials. Such great wealth is in part the result of the government engineering a wealth transfer of its own, according to Bridgewater Associates founder Dalio, who posted a lengthy LinkedIn newsletter on Wednesday.
