Largest Wealth Transfer in History is Coming

28 Sept 2022 · 1 min

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In this brief monologue, the speaker addresses Generation X and millennial viewers, warning them about an unprecedented intergenerational wealth transfer. Over the next 20 years, approximately $68 trillion—about 60% of U.S. wealth—will move from the baby‑boomer generation to younger generations. If a baby‑boomer’s estate is handled through the traditional probate process, the average cost of transferring that wealth could total roughly $3.4 trillion ($3 trillion + $400 billion). The speaker urges listeners to use revocable trusts, which bypass probate, to preserve this wealth for heirs and collectively save trillions of dollars.

Chapters

All you Gen Xers and millennials, if you will listen to this, I'm going to tell you how you can collectively save about $3 trillion, $400 billion over the next 20 years. During the next 20 years, $68 trillion will pass from the baby boomers to the Gen X and millennial generation. That is 60% of the entire assets and wealth in the United States economy. If your parents die with a will or with no plan at all, the cost to get that $68 trillion through court probate will average about $3 trillion, $400 billion. That is money that could be passed on to you if your parents died with a revocable trust, which does not require court probate and would put all of that money in your pocket.