That quote below sounds profound until you realize per history most people’s lives have gotten better over time. Data documents this trend. And with inflation, each generation’s accumulated assets are highly likely to be more than their predecessor generations.
Those high-profile pledges are happening as part of the greatest generational wealth transfer in history, with baby boomers set to pass to their children more than $68 trillion.
“It’s a generation that has accumulated a greater percentage of wealth than any other generation ever has,” said Mark Mirsberger, a certified public accountant and CEO of Dana Investment Advisors, No. 2 on this year’s CNBC FA 100 list.
Source: How to navigate the ‘great wealth transfer,’ according to top advisors
This also represents a windfall for governments due to inheritance and estate taxes, which will hit ever more people as the value of assets are inflated by the government’s inflationary policies.
