The Great Wealth Transfer is the transfer of wealth from Baby Boomers to younger generations and charitable organizations. This transfer is expected to have a significant impact on the economy, culture, and politics of the United States.
Here are some things to know about the Great Wealth Transfer:
Amount: The transfer is estimated to be worth $84–90 trillion, which is two to three times the annual gross domestic product of the United States.
Who will benefit: The wealthiest 10% of Americans will receive the majority of the wealth, but the children of middle- and lower-class Boomers will also receive a significant portion.
Who will be impacted: The Great Wealth Transfer will impact many people, including:
Women: Women face unique challenges in giving and receiving wealth due to the gender wealth gap.
The sandwich generation: This generation will face the challenge of caring for both aging parents and children.
Workers: Many workers are facing insufficient retirement savings.
How to prepare:
To prepare for the Great Wealth Transfer, you can:
Understand your personal goals
Get organized
Create a plan
Communicate with heirs
Work with a trusted advisor
Talk with loved ones
Consider life expectancy
Open discussions about family legacy and financial literacy
Who will benefit: The wealthiest 10% of Americans will receive the majority of the wealth, but the children of middle- and lower-class Boomers will also receive a significant portion.
That's coming from a leftist, dare I say communist, perspective.
Leaving your stuff to your own children has been going on, like, FOREVER. So ya, weathier people will leave more to their children than poor people will. Duh.
But commies want "inheritance taxes" to "level the playing field". I.e. they want to keep your kids from getting your stuff when you die.
Edited to add: Not arguing with you, fren, but just frustrated that Google passes this off as a neutral observation when in fact it is pure commie propaganda.
From Google:
The Great Wealth Transfer is the transfer of wealth from Baby Boomers to younger generations and charitable organizations. This transfer is expected to have a significant impact on the economy, culture, and politics of the United States.
Here are some things to know about the Great Wealth Transfer: Amount: The transfer is estimated to be worth $84–90 trillion, which is two to three times the annual gross domestic product of the United States.
Who will benefit: The wealthiest 10% of Americans will receive the majority of the wealth, but the children of middle- and lower-class Boomers will also receive a significant portion.
Who will be impacted: The Great Wealth Transfer will impact many people, including: Women: Women face unique challenges in giving and receiving wealth due to the gender wealth gap. The sandwich generation: This generation will face the challenge of caring for both aging parents and children. Workers: Many workers are facing insufficient retirement savings.
How to prepare:
To prepare for the Great Wealth Transfer, you can:
Understand your personal goals
Get organized
Create a plan
Communicate with heirs
Work with a trusted advisor
Talk with loved ones
Consider life expectancy
Open discussions about family legacy and financial literacy
That's coming from a leftist, dare I say communist, perspective.
Leaving your stuff to your own children has been going on, like, FOREVER. So ya, weathier people will leave more to their children than poor people will. Duh.
But commies want "inheritance taxes" to "level the playing field". I.e. they want to keep your kids from getting your stuff when you die.
Edited to add: Not arguing with you, fren, but just frustrated that Google passes this off as a neutral observation when in fact it is pure commie propaganda.