With the $80 trillion-plus great wealth transfer on the horizon, some members of the millennial and Gen Z generations are poised to each receive hundreds of thousands or millions of dollars, courtesy of baby boomer parents and grandparents who have amassed unprecedented wealth over the past few decades.
And while inheriting $1 million—or any significant sum—is far from the worst problem to have, surveys find younger generations aren't ready to manage it. For most people, a sizable lump sum inheritance is a once-in-a-lifetime experience, and they will have plenty of questions about what to do with the money.
