The $124 Trillion Great Wealth Transfer: Fact Vs Fiction Quiz
The Great Wealth Transfer is upon us: A decades-long period in which over $100 trillion in assets are expected to pass from one generation to the next.
This once-in-a-lifetime transfer of generational wealth has long been hyped in the press, online and on social media for good reason. An estimated $124 trillion will flow to heirs through 2048, according to research firm Cerulli Associates. That's a lot of money individuals will have to spend, save and invest — and many don't even know it's coming: A new survey conducted by Morning Consult on behalf of Kiplinger found that while 47% of parents expect to leave a meaningful inheritance, only 24% of adult children expect to receive one.
But there's more to the Great Wealth Transfer than the dollar amount, even though it is eye-popping. There's who actually gets a piece of the pie, how end-of-life expenses will shrink it, and what it means for your financial plan. And that's just scratching the surface.
If you are one of the millions of Americans who stand to inherit wealth during the coming decades, it's important to know everything you can about the Great Wealth Transfer. To test your expertise and help you prepare, take our "Fact or Fiction" quiz.
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