More than $100 trillion dollars will be handed down to heirs over the next couple of decades as the pace of the Great Wealth Transfer accelerates, according to a new report.
The research firm Cerulli Associates says $105 trillion will be passed on to heirs by 2048, while charities will receive $18 trillion over the same period.
Baby Boomers, the Silent Generation and other older generations will be the major benefactors.
“Nearly $100 trillion will be transferred from Baby Boomers and older generations, representing 81% of all transfers.
More than 50% of the overall total volume of transfers ($62 trillion) is expected to come from those who are currently high-net-worth (HNW) and ultra-high-net-worth (UHNW), which together make up only 2% of all households.”
Over the short term, generation X will benefit more than Millennials from the Great Wealth Transfer.
“Millennials will be inheriting the most of any generation over the course of the next 25 years ($46 trillion). However, Gen X stands to inherit the greatest portion of assets in the next 10 years, totaling $14 trillion to Millennials’ $8 trillion.”
Widows in the Baby Boomer and the Silent Generation as well as other older generations are set to receive about 38% of the wealth before it can get to heirs and charities, according to the report.
“Projections of horizontal, or intra-generational, transfers show that $54 trillion will be passed on to spouses before eventually transferring intergenerationally to heirs and to charities. Nearly $40 trillion of these spousal transfers will be going to widowed women in the Baby Boomer and older generations…”
Follow us on X, Facebook and TelegramDon't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Surf The Daily Hodl Mix
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
