Boomers are refusing to hand over their $84 trillion in wealth to their children
Boomers are holding on to their money for as long as they can, rather than handing them down as inheritance to their children, according to a new report. In recent years, around 12,000 boomers have turned 65 each day. Experts had assumed they would pass down their accumulated wealth as they retire, downsize, and plan their estates. But the Great Wealth Transfer - in which baby boomers are expected to hand over billions of dollars to their millennial and Gen Z children - may not be as straightforward as previously thought.
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