Reported 8 months ago
The generational transfer of wealth from baby boomers to millennials is looming, with $84.4 trillion expected to be transferred through 2045, according to Cerulli Associates. JPMorgan's chief marketing officer emphasized the importance of planning for this transfer, stating that money conversations between generations can be uncomfortable and intimidating. It's essential for millennials to understand their parents' wealth, engage in conversations about inheritance, and prepare for the impact on markets and the economy in the future.
Source: YAHOO