The great wealth transfer has started — but millennials, Gen Z may not inherit as much as they anticipate
To that point, 68%, of millennials and Gen Zers have received or expect to receive an inheritance of nearly $320,000, on average, USA Today Blueprint found. Additionally, 52% of millennials think they’ll get even more — at least $350,000 — according to a separate survey by Alliant Credit Union.
However, 55% of baby boomers who plan to leave behind an inheritance said they will pass on less than $250,000, Alliant found.
Further, just one-third of white families and about one in every 10 Black families receive any inheritance at all, and more than half of those inheritances will amount to less than $50,000, according to a separate study by Federal Reserve Bank of Boston.
Millennials may be 'richest generation in history'
Still, over the next decade this intergenerational transfer could make millennials “the richest generation in history,” according to the annual Wealth Report by global real estate consultancy Knight Frank.
https://www.nbcnews.com/business/personal-finance/great-wealth-transfer-started-millennials-gen-z-may-not-inherit-much-a-rcna151062