Generational Transfer of Wealth to Millennials

SOURCE www.theguardian.com
Millennials are set to inherit $90tn in property assets over the next 20 years, making them the richest generation in history, according to a study by Knight Frank. Despite facing economic challenges, they are expected to see a significant increase in wealth and are focused on sustainable investments.

Key Points

  • Millennials are projected to inherit $90tn in property assets in the US alone over the next 20 years.
  • 75% of millennials expect their wealth to increase in 2024.
  • Shift in wealth towards millennials will make them the richest generation in history.

Pros

  • Millennials are expected to receive a significant windfall in property assets over the next two decades.
  • The shift in wealth towards millennials may lead to a focus on sustainable investments and behaviors.
  • The younger generation, Gen Z, is also showing positive trends in wealth creation.

Cons

  • Many millennials are still facing economic challenges due to past financial crises and high housing costs.
  • There is a significant wealth disparity based on inheritance, with not all millennials set to benefit equally.
  • Some millennials may struggle to catch up with the living standards of older generations despite the expected wealth transfer.