Largest Wealth Transfer in History Incoming As Unprecedented Quantities of Capital Heading To Gen Z, Millennials and Gen X: Morgan Stanley Strategist
Morgan Stanley's equity strategist, Michelle Weaver, highlights an unprecedented wealth transfer as baby boomers age, potentially passing on tens to hundreds of trillions of dollars to Gen Z, millennials, and Gen X. A survey indicates that about 50% of beneficiaries will receive less than six figures, with higher-income households likely to benefit more. Currently, 14% of US consumers expect to inherit, while 17% have already received an inheritance.
Morgan Stanley’s equity strategist says an “unprecedented” amount of wealth is about to change hands as baby boomers reach their sunset years.
In a Morgan Stanley podcast, Michelle Weaver says that as the generation born between 1946 and 1964 ages, they will pass on wealth worth “tens or even hundreds of trillions of US dollars” to Gen Z, millennials, and Gen X.
Citing a survey conducted by the bank’s AlphaWise unit, Weaver says about 50% of the beneficiaries of history’s largest wealth transfer will receive amounts below six figures.
According to Weaver, higher-income households are likely to benefit more than lower-income households from the wealth transfer.
On how the current and future beneficiaries of the wealth transfer expect to use their inheritance, Weaver says,
About 14% of consumers in the US expect to receive an inheritance while 17% have already received one, according to Weaver.
