Article assumes Boomers won’t spend it all before they die.
https://www.theguardian.com/money/2024/feb/28/millennials-richest-generation-wealth-property
Weird it doesn’t feel like it.
Richest in variety of debt, maybe
It’s the cruelest clickbait I’ve seen in a long time.
Just as a feature of inflation the numbers that represent the wealth held by millenials will almost certainly eclipse that held by previous generations. But also thanks to inflation the actual value change represented by that larger number is sweet FA. Everything is just more expensive.
“Currently alive people have higher number in bank account than previously alive people, which is known as inflation”
The switch will see $90tn (£71tn) of assets move between generations in the US alone, “making affluent millennials the richest generation in history”, Knight Frank said in its 18th annual wealth report.
Meanwhile, every discussion about inheritance tax is poisoned by people claiming they would need to still their parents house.
