Australia's intergenerational wealth transfer of $3.5 trillion will primarily benefit women, shaping markets and the wealth management industry. Household net wealth rose by $37 trillion to $147.1 trillion from 2019 to 2023, with baby boomers, Generation X, and millennials benefiting. Baby boomers have gained the most from the household boom. Gen X is poised to gain the most wealth from the $84 trillion transfer. Gen Z's purchasing power is forecasted to reach $12 trillion globally by 2030, making them the wealthiest generation. The transfer of trillions of dollars from older to younger generations may exacerbate wealth inequality.
WORK, RETIRE, REPEAT author Teresa Ghilarducci was quoted in a @CNBC article touching on retirement and wealth transfer in the U.S. Read it here: https://t.co/YL97C1S5GF #economicbooks #retirement #americanhistory #finance https://t.co/v1zat8KycZ
young ppl are set to inherit trillions of dollars from older folks over the coming years but the way that wealth will filter down may actually make us even more unequal, as some stand to benefit more than others insights from @mneal_econ @urbaninstitute https://t.co/Mg6DEL3S2A
Gen Z's purchasing power is projected to grow to $12 trillion globally by 2030, according to NielsenIQ and World Data Lab. "It's going be not only the largest generation, but it's also going to be the wealthiest," says NielsenIQ's Marta Cyhan Bowles. https://t.co/T54r6iEtWN
Gen X stands to gain the most wealth from the $84 trillion wealth transfer https://t.co/eMA5UHsDBb
From 2019 to 2023, household net wealth increased by around $37 trillion to $147.1 trillion as the value of homes & stocks surged, with baby boomers, Generation X & millennials sharing in the windfall in that order, per BBG. The household boom has helped Baby Boomers the most: https://t.co/pbRpHfcxYD
Women will be the biggest beneficiaries of Australia’s $3.5 trillion intergenerational wealth transfer. How they invest will shape markets and the wealth management industry in the coming decade. https://t.co/rt3OQfreux