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.
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