A massive $124 trillion wealth transfer is on the horizon, and one generation stands to gain the most over the next decade. Get ready for some serious inheritance action!
Gen X’s Big Inheritance
According to Cerulli Associates, Generation X (those born between 1965 and 1980) will inherit a significant chunk – over 10% – of this massive sum. That’s roughly $1.4 trillion annually over the next ten years. This windfall comes at a particularly opportune time for many in Gen X.
Why Gen X Needs This Money
This generation has faced some serious financial headwinds. They were hit hard by the 2008 financial crisis, experiencing a staggering 38% drop in median net worth. Many are still struggling to recover from that blow. Adding to the pressure, many Gen Xers are simultaneously supporting their children and aging parents.
A 2023 survey highlighted the financial strain: Gen Xers had a median savings of just $82,000, significantly less than Baby Boomers ($289,000) and Millennials ($49,000). This inheritance could provide much-needed financial relief and security for their future.
Disclaimer: This information is for general knowledge and shouldn’t be considered financial advice. Always do your own research before making any investment decisions.
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