Only $36 Trillion Might Reach Younger Generations in Great Wealth Transfer, Visa Finds
Visa’s July report questions the size of the Great Wealth Transfer: from roughly $93 trillion in boomer wealth, debt, charitable foundations, retirement costs and taxes shrink the amount likely to pass to Gen X and millennial heirs to about $36 trillion over 20 years. About three-quarters of that remaining sum sits with the top 10% of households, and much may be saved or invested rather than spent, yielding an estimated $8 trillion in consumer spending. The study also notes that, after inflation, younger generations have higher per-capita net worth than boomers did at the same age, thanks in part to widespread access to 401(k)-style plans.