The transfer of the large wealth of $ 124 trillion is greater than ever – and the millennial generation will get the largest pieces

Three basic factors pushed the latest Cerulli. The first is a basic modification of inflation: the previous 84 trillion dollars (in 2020 dollars) becomes 100 trillion dollars when renovated in 2023 phrases. Secondly, asset prices exploded in the epidemic: stocks grew by 27 %, real estate increased by 39 % from 2020 to 2023, and the total American family’s wealth jumped from 108 trillion dollars to 154 trillion dollars during that period. (The report indicates that the American wealth has grown significantly over a longer period of time, since the great financial crisis, where the brand is $ 79 trillion in 2011.)

Finally, old families control a percentage of more national wealth, leaving them more to move. They kept 61 % as of 2023, compared to 54 % just three years ago. This somewhat lined with wealthy families – those worth more than $ 10 million. These richest families, about 3 million families in total, now have 44 % of wealth, an increase of 40 % in 2020, an increase of 11 % of 33 % in 2011. Cerulli calculates that this is the highest 2 % of the wealthiest Americans.

Children and Americans are still older who lead the largest group of assets in America, and they will be responsible for the largest delivery, as they send 79 trillion dollars to the younger generations and charity. This will begin by transferring the “horizontal” wealth – as it goes beyond husbands, siblings and other peer relationships – before most of the origins are transmitted between children and grandchildren.

The general xShe has long been overwhelmed by the huge and extensive mutation group that is expected to inherit a lot Almost $ 1.4 trillion per year During the next decade, more than any other group. This surprise comes in a pivotal life stage: many Geen Xers “confined” between the care of children and elderly fathers. Cerulli Millennium Projects that receive $ 8 billion a year during the next decade. Over the next quarter of the next century, the millennial generation will get the largest distances: 45.6 trillion dollars to the Gen X 39 trillion dollars.

Cerulli Associates

This will be a change, even, for the Gen X Generation, whose financial experience was characterized by volatility. They lost 38 % of their average net wealth between 2007 and 2010 – a more severe loss than any other generation – which makes them anxiously concerned and their financial future. Their rapid transition to heredity is to turn the consulting industry significantly.

Next wave: Women, Millennium and General Z wealth

Millennium generation, despite the delay in the outstanding landmarks and the entry of the workforce during the great recession period, is scheduled to inherit $ 46 trillion, more than any other demographic, by 2048. With the possibility of access to better retirement and investment plans, and the investment in the direction (EG, ESG and influence).

One of the most prominent results is the report on women as pregnant with wealth. Women because of inherited a lot of the next wealth. Widows from Boomer Group are expected to get $ 40 trillion of “horizontal” transport operations – more than 28 million women managers in their families will be over their husbands. The average super transfer is $ 1.4 million.

Meanwhile, younger women will inherit $ 47 trillion over the next 24 years, and we will transfer the conversation from the wealth dominated by males to a new era of female control and financial decisions.

The changing face of wealth

He writes Cerulli. Among the main financial advisors clients today, 45 % of entrepreneurs, business owners, corporate executives, 24 % of heredity or have multi -generational family links, only 21 % of the type of “traditional introduction” and high -performance professionals such as lawyers and doctors. Millennial and General Z Customer share in companies that focus on HNW from 8 % in 2021 to 25 % by 2024, an indication of the transmission of fast priorities.

For this story, luck The artificial intelligence is used to help with a preliminary draft. Check an editor of the accuracy of the information before publishing.