(Bloomberg) -- The rich aren’t just getting richer. They’re getting older. And, fortunately for their children, they’re set to leave plenty of money in the bank.About $36 trillion will flow from one generation to another over the next 30 years, according to a report Tuesday from wealth manager United
-- The rich aren’t just getting richer. They’re getting older. And, fortunately for their children, they’re set to leave plenty of money in the bank.
The beneficiaries aren’t all that young themselves. The study, which uses Federal Reserve and academic data, shows that from 1989 to 2016 U.S. households inherited more than $8.5 trillion. Over that time, the average age of recipients rose by a decade to 51. More than a quarter of bequests now go to adults 61 or older.
Age inequality is most dramatic when comparing the oldest and youngest adults. In 1989, the median household age 65 to 75 held almost eight times more wealth than families headed by 25- to 35-year-olds. By 2016, according to an analysis by the St. Louis Fed, the median baby boomer had close to 13 times more wealth than the typical millennial.
“Most inheritances are going to older adults who have little in the way of retirement savings,” said Fellowes, a former Brookings Institution scholar. “People receiving inheritances are pretty middle class.” As more Americans live longer without the safety net of a traditional pension, the data suggest they’re spending frugally to make sure their wealth lasts. The result is more Americans dying before they can spend all of their savings. Financial advisers say they often need to encourage affluent clients to enjoy their wealth rather than hoarding it.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Elizabeth Banks Says ‘Captain Marvel,’ ‘Wonder Woman’ Were Hits Because They Belong to ‘Male Genre’'I’m happy for those characters to have box office success, but we need more women’s voices supported with money because that’s the power. The power is in the money.' Via IndieWire
Baca lebih lajut »
Ex-Uber startup Virtual Kitchen competes with Kalanick's CloudKitchens - Business InsiderThe CEO of Virtual Kitchen believes restaurants are changing so radically that he's going head-to-head against his old boss at Uber, Travis Kalanick.
Baca lebih lajut »
New Underwear Brand Parade Offers Extended Sizing & Sustainable Fabrics for $9As offerings in the plus-size market proliferate plus-size women are asking brands to offer more opportunities for self-expression, more sizes and more sustainable options. Enter new underwear brand, Parade.
Baca lebih lajut »
https://ew.comEntertainment Weekly has all the latest news about TV shows, movies, and music, as well as exclusive behind the scenes content from the entertainment industry.
Baca lebih lajut »