According to a study by USA Today, 68% of millennials and Gen Zers have received or expect to receive an inheritance, with the average amount being nearly $320,000. This is part of the larger “great wealth transfer” from baby boomers to younger generations.
The inheritance landscape has shifted significantly over generations. For baby boomers, inheritances were generally smaller and less common. Many boomers built their wealth through homeownership and long-term employment, often without expecting substantial inheritances.
In contrast, millennials and Gen Zers are poised to benefit from the “great wealth transfer,” receiving larger inheritances due to the accumulated wealth of their baby boomer parents. This shift is partly due to rising property values and increased savings among older generations.
Sources:
https://www.usatoday.com/money/blueprint/credit-cards/study-great-wealth-transfer-plans/
https://www.nbcnews.com/business/personal-finance/great-wealth-transfer-started-millennials-gen-z-may-not-inherit-much-a-rcna151062
https://www.wbir.com/article/news/local/baby-boomers-and-great-wealth-transfer/51-9ac690b1-5bed-4923-aa82-c0aafc26ac19
https://www.sciencedaily.com/releases/2017/07/170717100548.htm
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