Definition

Great Wealth Transfer

The largest intergenerational wealth transfer in recorded history: an estimated $60–90 trillion moving from Baby Boomers and Gen X to Millennials and Gen Z. The transfer is not gradual — the bulk occurs in the next 10–12 years due to the compressed age distribution of the two wealthiest generations. Most inheritors are structurally unprepared: Noyack's 5,000-respondent survey found only 8% of millennials had ever had a serious conversation with parents or extended family about family wealth, limited partnerships, or estate planning. CJ Follini argues this creates both a crisis (wealth destruction through poor decisions and taxes) and an opportunity (the market for financial literacy and democratized wealth management tools is enormous).