Summary
A new report from Visa Business and Economic Insights suggests that the anticipated "Great Wealth Transfer" from baby boomers to millennials and Gen Xers will be significantly smaller than widely estimated, with only a fraction of boomer wealth actually being inherited. This is due to factors such as existing boomer debt, retirement spending, taxes, and the concentration of wealth among the top earners, leading to an average inheritance of about $515,000 per household, but with most going to already affluent families.
