Millennials are set to become the richest generation on record thanks to the $84 trillion Great Wealth Transfer from their baby boomer parents and grandparents
In addition to heartwarming family lore and sentimental trinkets, older generations are set to pass down a staggering amount of financial value over the coming decades in the largest wealth transfer in history.
People born before 1964—baby boomers and the pre-WWII babies known as the silent generation—hold 64% of the nation’s $190 trillion of wealth, per the Federal Reserve. And they are expected to leave behind $84 trillion to their descendants in the coming two decades, according to Cerulli Associates.