July 26, 2021
...AND RICHER...:
Will 'the Great Wealth Transfer' Trigger a Millennial Civil War? (Eric Levitz, 7/26/21, New York)
In a 2019 report, the consulting firm Cerulli Associates projected that, over the next quarter century, roughly 45 million U.S. households will collectively bequeath $68.4 trillion to their heirs. This transfer will constitute the largest redistribution of wealth in human history. Generation X stands to inherit 57 percent of that $68.4 trillion; millennials will collect the bulk of the rest.Millennials, in other words, are one day going to be a lot richer (or at least, some millennials are).
When the biggest problems in America are that the poor are fat, the rich get to go to outer space, the middle class inherits too much wealth and technology replaces work for everyone....
Posted by Orrin Judd at July 26, 2021 12:00 AM