Gen X to Receive Massive Wealth Transfer
A recent report from Altrata, a think tank specializing in wealth management, predicts that Generation X will inherit a staggering $31 trillion by 2033. This unprecedented transfer of wealth will come from their baby boomer predecessors.
Who’s Passing on the Wealth?
The majority of this wealth (87%) will come from very high net worth individuals (VHNW), with corporate executives accounting for over 70%. Entrepreneurs and sole inheritors will make up the remaining 30%.
When Will Gen X Get Their Money?
Unlike Millennials and Gen Z, who will primarily inherit from their grandparents, Gen X will receive their inheritances sooner. This is because many baby boomers are choosing to transfer wealth during their lifetimes for tax planning and to prepare their heirs for financial stewardship.
Impact on the Wealthy
The massive wealth transfer will have a transformative effect on the wealthy. It will create new opportunities for organizations that advise and engage with the ultra-wealthy.
Global Implications
Ernst & Young (EY) estimates that baby boomers will transfer up to $3 trillion in assets to their families this year. This “tidal wave” of wealth transfer is expected to continue until 2030, with an estimated $18 trillion being passed on by that time.
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