The Great Wealth Transfer Is Happening, But Not In The Way You Think

What is considered the greatest transfer of wealth in history is happening today—one family at a time, from one generation to the next. According to a study by Edward Jones, in collaboration with NEXT360 Partners and Morning Consult, nearly a third of Americans have or will be receiving an inheritance. Among those anticipating one, nearly half expect it will come within the next ten years, marking what many have dubbed the Great Wealth Transfer.

According to Cerulli, the Great Wealth Transfer is the forecasted hand-off of trillions of dollars from the older Silent Generation and aging Baby Boomers to their young Gen X, Millennial, and Gen Z adult children and grandchildren over the next 20 years. Cerulli pegs the transfer to come mostly from Boomers totaling nearly $84 trillion, with about $72 trillion going to heirs and $12 trillion to charities. That’s a lot of money. Well, it may not all be money. The Great Wealth Transfer will include cash, equities, real estate, and other forms of wealth, as well as, for many, memories. Adult children assuming an eventual transition of wealth may be feeling uncertainty on what, how, and in what form that transfer of wealth may take place.