Maclean's magazine’s Post

I definitely wouldn't count your chickens yet though millennials. 1 in 10 boomers who have lived to 65 will reach 99 years old according to the office of national statistics. So 1 in 5 elderly couples where one lives to 99 wont be passing anything on until their kids are likely well into their own retirement. That's assuming they don't themselves need equity release or long term care which could impact on any inheritance. (1 in 3 will people need long term) If your own financial planning for retirement is based on an inheritance of a house when your parents pass away to fund it, then make sure you bear this in mind. #gotyournumber #financialplanning https://lnkd.in/encz-4uE

Millennial and Gen Z heirs have high hopes for the "great wealth transfer" as they anticipate inheriting their parents' wealth. A recent survey by Northwestern Mutual found that over half of Gen Zers and nearly 60% of millennials are depending on their inheritance for financial security. But the survey also showed that only 22% of baby boomers expect to leave an inheritance. The sad reality is the “great wealth transfer” may not be as significant as anticipated. While many boomers have a will in place, their children and grandchildren are more likely to find funeral instructions rather than cash or property. Many young adults relying on their inheritance for financial security and retirement may be in for a disappointment. It's essential that they prioritize financial planning and develop habits that ensure a secure future. #Inheritance #WealthTransfer #FinancialPlanning #Millennials #GenerationZ #FinancialSecurity #GenerationalWealth #PlanningAhead https://brev.is/py0wD

Murmurs of a “Great Wealth Transfer” have been around for some time now, as many Americans anticipate an inheritance from their older relatives. The silent generation and baby boomers account for a greater share of the nation’s wealth than their younger counterparts, leaving the more financially insecure generations waiting for a $90 trillion windfall. That much money changing hands could create an unprecedented change in household wealth and the nation as a whole. But like many dreams, not everything is as it seems. For one, younger adults might be expecting a bigger check than boomers can cash. The Great Wealth Transfer might be more of a ripple than a wave, finds Northwestern Mutual in ITS Harris Poll survey of more than 4,500 U.S. adults. The insurance company found a “considerable gap” between what Gen Z and millennials think is coming, and what their relatives actually report is in store. There's more to their findings here from Chole Berger for Microsoft: https://lnkd.in/g627zeAk #wealth #wealthtransfer #boomers #millennials

#WealthWednesday: A significant wealth transfer is underway, but communication gaps may impact expectations. While millennials anticipate sizeable inheritances, baby boomers may leave less than expected. Clear family discussions and financial planning are key to navigating this transition successfully. ➝ Let's ensure the next generation inherits not just wealth, but also financial literacy and values. #FinancialPlanning #GenerationalWealth #WealthManagement

The Great Wealth Transfer - A very interesting article and make sense when you think about it. Baby Boomers (1946 - 1964) move into retirement and downsize or pass down their 2nd homes, etc. to younger generations this is considered "The Great Wealth Transfer" and can have an effect for decades. Read to learn more about this. #GenerationalWealth #RealEstate2024 #GreaterKnoxville #TellicoVillage #EasternTn #LakefrontLiving

The great wealth transfer, or #InterGenerationalWealthTransfer, is the transmission of family assets from generation to generation. Baby Boomers are on the verge of transferring trillions of dollars in wealth to younger generations in the coming years, signifying a notable shift in financial dynamics. Is your family ready to navigate and benefit from this historic transfer of wealth? Continue reading here to learn more. #greatwealthtransfer #agemyfinancialstrategies #connecticutfiduciary #coloradofiduciary #wealthmanagement #wealthpreservation #legacyplanning #wealthtransferplan #estateplanning

At the crossroads of Health and Wealth Gen X, Z and millennials contact me to learn strategies to hedge against this situation. #generationalwealth #Healthcare #estateplanning #FinancialFreedom

Baby boomers are increasingly giving financial help to their children before they pass, reshaping the wealth transfer landscape. This article dives into the implications of this trend and its impact on generational wealth. #WealthTransfer #Financialplan

Did you know we are currently in the early stages of the great wealth transfer? Approximately $72.6 trillion is being transferred to the next generation of heirs, which comprise of Gen Z and Millennials. It’s time to equip your family and yourself with the right tools! Do your loved ones know about your investments, where they are, and who's managing them? Ensuring a smooth transition requires thoughtful planning. Check out this article on the ‘great wealth transfer’ to learn more: https://lnkd.in/g8_xnawR #WealthTransfer #FinancialPlanning #GenerationalWealth

𝗧𝗵𝗲 𝗚𝗿𝗲𝗮𝘁 𝗪𝗲𝗮𝗹𝘁𝗵 𝗧𝗿𝗮𝗻𝘀𝗳𝗲𝗿: 𝗔𝗿𝗲 𝗠𝗶𝗹𝗹𝗲𝗻𝗻𝗶𝗮𝗹𝘀 𝗥𝗲𝗮𝗱𝘆? 💡🔍 Millennials stand on the brink of the largest intergenerational wealth transfer in history. As Baby Boomers prepare to pass down an astonishing $68 trillion, questions arise about millennials’ readiness to manage this wealth. 𝗖𝗼𝗻𝘀𝗶𝗱𝗲𝗿 𝗧𝗵𝗲𝘀𝗲 𝗙𝗮𝗰𝘁𝘀: • 𝗦𝗽𝗲𝗻𝗱𝗶𝗻𝗴 𝗛𝗮𝗯𝗶𝘁𝘀:  Millennials, often seen as frivolous spenders, face the challenge of managing a significant wealth influx. • 𝟮𝟬𝟬𝟴 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗖𝗿𝗶𝘀𝗶𝘀 𝗜𝗺𝗽𝗮𝗰𝘁: The lingering effects of the 2008 crisis contrast sharply with the frugality born from World War II’s austerity. • 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻𝗮𝗹 𝗪𝗲𝗮𝗹𝘁𝗵 𝗟𝗼𝘀𝘀: An alarming 90% of wealth is lost by the third generation, highlighting the need for open financial dialogue. • 𝗜𝗻𝘃𝗲𝘀𝘁𝗺𝗲𝗻𝘁 𝗔𝗰𝘂𝗺𝗲𝗻: Entering their 40s, millennials’ investment skills and entrepreneurial spirit are very different from Baby Boomers and will be put to the test. • 𝗧𝗵𝗲 𝗦𝗮𝗻𝗱𝘄𝗶𝗰𝗵 𝗚𝗲𝗻𝗲𝗿𝗮𝘁𝗶𝗼𝗻:  Struggling between supporting aging parents and raising children, many millennials live paycheck-to-paycheck. • 𝗪𝗲𝗮𝗹𝘁𝗵 𝗦𝘂𝗿𝗴𝗲: Despite economic hurdles, millennials’ wealth share in America jumped from 1.4% to 9.2% between 1990 and 2023. • 𝗘𝘅𝗽𝗲𝗰𝘁𝗮𝘁𝗶𝗼𝗻𝘀 𝘃𝘀. 𝗥𝗲𝗮𝗹𝗶𝘁𝘆:  The gap between expected inheritances and reality could lead to unpreparedness for the wealth transfer. • 𝗜𝗻𝗵𝗲𝗿𝗶𝘁𝗮𝗻𝗰𝗲 𝗗𝗶𝘀𝗽𝗮𝗿𝗶𝘁𝗶𝗲𝘀: Inheritance remains unequal, with significant differences across racial lines. • 𝗖𝗼𝗺𝗺𝘂𝗻𝗶𝗰𝗮𝘁𝗶𝗼𝗻 𝗚𝗮𝗽:  A lack of financial discussion between generations exacerbates the mismatch in expectations and preparedness. 𝗥𝗲𝗳𝗹𝗲𝗰𝘁 𝗼𝗻 𝗧𝗵𝗲𝘀𝗲 𝗤𝘂𝗲𝘀𝘁𝗶𝗼𝗻𝘀: • How will you manage the impending wealth? • Are you prepared for this historic wealth transfer? • Do you understand the financial legacy you’ll inherit? • Is your wealth communication proactive? • What are your strategies for long-term financial security? • How do your investments align with your retirement goals? As a financial advisor, I’m dedicated to guiding you through these complex questions to ensure a secure financial future. Let’s connect and start planning today. #InvestmentStrategy #WealthPreservation #AssetManagement #FinancialLiteracy #SuccessionPlanning #WealthEducation #Millennials #FinancialAdvisor #EstatePlanning #RetirementPlanning https://lnkd.in/gXgqjvWa https://lnkd.in/gs-Z6-3j https://lnkd.in/gV2Wb7vX https://lnkd.in/g2-SwwaB https://lnkd.in/gbV2DpQA https://lnkd.in/gSpxcCbi