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Millennials - those born between 1981 and 1996 - are set to be the richest generation ever. According to Knight Frank's latest annual wealth report, millennials can expect a US$90 trillion inheritance in the US alone over the next 20 years, largely from property, as baby boomers and the silent generation hand over the reins. Other key findings in the report include: 🔴 Gen-Z are the most confident generation in their ability to create wealth 🔴 The super-rich are on the rise 🔴 A concern for sustainability will shape investment decisions among younger wealth-holders Click the link below to read the full article.

Those are staggering numbers and indeed will Likely influence tax policy over the next 20 years starting with the November election. There will be at least three, and perhaps as many as five presidents shaping tax policy over 20 years. It will be an emerging issue that will also implicate and surround policy on the national debt reduction. Stay tuned for the next round of ideological and pragmatic discourse, which will naturally affect all circles of the financial world, creating additional opportunities for wealth managers and financial / legacy planners,.

🌍 The Great Millennial Migration: Why High-Earners are Flocking to New States 🏡 Have you noticed a shift in where high-earning millennials are choosing to live? North Carolina, Texas, and Florida are attracting waves of affluent young professionals, while states like New York and California are seeing them leave. In our latest blog, We dive deep into the migration trends reshaping our nation's economy. Discover why millennials with $200k+ incomes are making bold moves, the states winning and losing in this migration, and the profound impact these relocations have on local economies. 🔗 Read the full story and learn what’s driving this shift | https://bit.ly/47F5pEl #millennialmigration #economictrends #millennials #northcarolina #taxincentives #remotework #highearners #realestate #economicimpact

Financial independence opens so many paths to the lives people envision for themselves. The first step: Create a plan. #CFPPros can help.

According to new CFP Board research, millennials prioritize financial independence and stability above all else — and nearly half believe they’re in a better spot than their parents or grandparents were at the same age. CEO Kevin R. Keller, CAE explains how the 2008 financial crisis shaped these goals and why millennials are so focused on achieving them in this Fortune article by Alicia Adamczyk. Read more: https://lnkd.in/eU5PjwHY  #FinancialPlanning #Millennials #ResearchFindings  

Weekend Read: A survey by Wells Fargo found that 29% of affluent millennials (defined as having assets of $250,000 to over $1 million of investible assets) admit they “sometimes buy items they cannot afford to impress others.” According to the survey, 41% of affluent millennials admit to funding their lifestyles with credit cards or loans, versus 28% of Gen Xers and 6% of baby boomers.

The wealth gap between rich millennials and the rest of their age group is the largest of any generation, according to a recent study. While the average millennial has less wealth at the age of 35 than previous generations, the top 10% of millennials have 20% more wealth than the top baby boomers at the same age. This growing wealth disparity is causing class tension and resentment. Interestingly, this surge in wealth among millennial heirs is also creating a lucrative new market for wealth-management firms, luxury companies, travel firms and real estate brokers. As millennials continue to accumulate wealth, businesses will need to adapt to cater to their unique needs and preferences. Read more about this study and its implications on CNBC: //https://lnkd.in/gV9WGwKK.

How do Boomers and Millennials differ? Check out this article and let us know your thoughts! #Gaskinsgibsoncapital #boomer #millennial #finance #GGC https://lnkd.in/eeU67EC6

In a couple of years, the #millennial generation will fully age out of its 20s entirely and leave young adulthood behind. The youngest of the generation, born in 1995 and 1996, turn 28 and 29 this year. Just under 9 million 20-something millennials remain, per the US Census. Identifying as not quite millennial, not quite #GenZ, these late 20-somethings are shaped by the pandemic happening early on in their careers and initial wealth-building years. In some ways, they're actually faring better than their older millennial peers. And the struggles they do face point to larger cracks in America's social support systems. Read more at Business Insider.

This is how Americans define success by the dollars 💰— what a difference a generation or two makes! Had to rub my eyes over this chart from Empower which I stumbled across on Entrepreneur Media. Some of those numbers make your head truly spin! 😵💫 "Having $1 million in net worth used to be the ultimate goal, but today, some experts are concerned it may not be enough. Still, when asked in a new generational survey how much net worth would make them feel successful, Baby Boomers (ages 60 to 78) stuck to that coveted $1 million mark. ☺️ The other generations? Not even close. According to a new survey from Empower, a financial services company, Gen X (ages 44 to 59) said they'd need $5.3 million to feel successful, and millennials (ages 28 to 43) reported a slightly higher $5.6 million. Gen Z (ages 18 to 27) went wild and responded they'd need $9.5 million, on average. 😮 ℹ️ The survey, titled "Secret to Success," was formulated from the online survey responses of 2,203 Americans ages 18 and up taken over two consecutive days in September 2024 and fielded by Morning Consult. Numbers were "weighted to be nationally representative of U.S. adults," according to Empower. ➡️The average salary that Americans considered a measure of "success" was $270,000 a year, per the report.⬅️ But just like the net worth question, Gen Z doubled every other generation's answer and said a salary of $587,797 🫣would make them "successful." Millennials reported needing a salary of $180,865, Gen X reported $212,321, and Baby Boomers said $99,874. 💡Despite the high expectations, the report also found that 58% of Americans surveyed still believed they would achieve financial success in their lifetime, with the younger generations being the most optimistic (Gen Z, 71%; Millennials, 70%; Gen X, 53; and Baby Boomers, 45%). Rebecca L. Rickert, head of communications at Empower, told CNBC that younger generations are the 'most optimistic about achieving financial success in their lifetime, though they estimate it'll take more money to get there.'" (+++Opinions are my own. Not investment advice. Do your own research.+++) #markets #investing #money #wealthmanagement Tap the bell 🔔 to subscribe to my profile & you'll be notified when I post. 💸