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Great disappointment will follow the Great Wealth Transfer as baby boomers pass on just a fraction of their fortune to millennials and Gen Xers
['Jason Ma']
Fortune | FORTUNE
Estimates of the so-called Great Wealth Transfer vary, reaching as high as $124 trillion.
But millennials and Gen Xers with great expectations for inheriting that wealth may be setting themselves up for great disappointment.
A similar dynamic applies to the great wealth transfer.”
For the Great Wealth Transfer, Visa calculated that boomers will pass on $36 trillion of their $93 trillion in wealth, translating to about $515,000 per inheriting household.
Indeed, nearly 75% of people inheriting money from the wealth transfer are in the top 2%-10%.