Get ready for a huge transfer of wealth, folks! Billions of dollars are about to change hands as older generations pass on their assets.
A Big Number: Experts say that over the next 20 years, about $83 trillion will be handed down. That’s a mind-boggling amount of money, roughly equal to the combined economic output of every country in the world for a whole year!
The Spouse Factor: But here’s a twist: A lot of that money is going to spouses first, before being passed on to the next generation. This is a big deal, especially since women tend to live longer than men.
Women to Benefit: Think of it this way: About $9 trillion of this wealth transfer is expected to go to spouses, mostly in the Americas. That means women are likely to receive a significant chunk of this inheritance.
Gen X’s Big Inheritance: Gen X, those born between the mid-1960s and the early 1980s, are set to inherit a whopping $31 trillion in the next 10 years.
Baby Boomers’ Wealth Wave: Baby boomers are also handing down a huge amount of money. They’re expected to transfer up to $3 trillion to their families before the year is over. This “tidal wave” of wealth transfer will continue for several years.
Transformative Impact:
This massive transfer of wealth is not just about money. It’s going to have a big impact on the next generation and especially women. It’s a huge amount of money, equivalent to China’s entire yearly GDP! /p>
