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The remaining $11.9 trillion is likely to end up at charitable organizations.
Multigenerational wealth is one of the most tried-and-true strategies of building long-term financial stability for families.
While it might, not everyone plans to leave behind a ton of assets.
The vast majority of this wealth $53 trillion is currently held in the hands of the baby boomers.
As of 2024, this means these individuals are between the ages of 60 and 78.
Heres what they said:
For the most part, the percentages dont vary that much.
For some families, this could mean suddenly finding themselves with more financial power than they ever expected.
Even people who are already doing well might see their situation improve.
Long-Term Effects of the Great Wealth Transfer
There could also be some long-term effects of this intergenerationalwealthtransfer.
Over time, this wealth transfer could help lift families into higher income brackets.
As an example, middle-class families might find themselves moving into the upper-middle class, said Camberato.
Inheriting a paid-off home could be a game-changer for many families.
Given this, Camberato also predicted therell be more homes back on the market as a result.
A lot of older homeowners have stayed in place because of the pandemic and rising home prices.
Rising costs and stagnant wages make it a tough climb.
Only those who can play the game smarter, investing wisely in growth sectors, stand a chance.
For many families, this will be a meaningful transfer of wealth.
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