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Wealth Transfer Rises to $68 Trillion!

The great wealth transfer in the U.S. creates big opportunities with the next generations

The U.S. wealth transfer number has gone up.

As recently as early fall of 2018, the going number for the Great Wealth Transfer was $59 trillion by 2030. But the projected wealth transfer is now an unprecedented $68 trillion over the next 25 years, according to a Fox Business article that reports on a study by Cerulli Associates in Boston.

What does $68 trillion look like?

Imagine if just 1% of that were given to Kingdom causes. It would yield $680 billion. To put that number in perspective, there are 150 Christian colleges in the U.S. and Canada. Even if we gave each of them a $1 billion dollar endowment, we’d still have $530 billion dollars left.

While the article accurately notes that much of that wealth transfer will become inherited wealth, it further notes that much of the transfer will likely be given to charity.

Millennials in particular will invest and give with the community in mind. They also may invest differently from their parents, giving greater weight to social responsibility.


Engage the wealth transfer generations

The implications are many.

Foundations and donor advised fund holders need to make sure that donor intent is documented and upheld.

Families should begin early in including the younger generation in giving decisions. Giving as a family is a great help in discovering and transferring the values that you want to pass on.

Advisors will need to embrace the relationship with the younger generation or risk losing clients as parents pass away and leave the reins to heirs.

Whether donor, heir, charity, or advisor, the message is clear: the time to plan is now.


Related articles:
Giving as a Family
Don’t Give Your Kids Money
4 Big Reasons Advisors Should Encourage Charitable Giving

Photo by Alex Iby on Unsplash

About Bill High

Bill is CEO of the Signatry: A Global Christian Foundation. He works with families, individual givers, and financial advisers to share the foundation’s message regarding biblical generosity and charitable giving. He is the co-author with David Green of Giving It All Away and Getting It All Back Again: The Way of Living Generously: » Learn More

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