Tuesday, January 13, 2015

Coming soon: The biggest wealth transfer in history

Public pensions are so underfunded that without a doubt the taxman will be a critical middleman of this transfer. Smart money, recognizing the inevitability of this outcome, is falling off the traditional investment grid that drives future economic growth. No investment, no future economic growth, which means few jobs for citizens to realize their potential and dreams. This setup is setting the stage of an economic contraction not seen since the Great Depression.

Headline: Coming soon: The biggest wealth transfer in history

As the world's richest individuals approach retirement, the next three decades will see trillions fall into the hands of their younger family members-the biggest wealth transfer in history from one generation to the next, according to a new report. At least $16 trillion of ultra-high net worth (UHNW) individual's wealth will be passed on to the next generation over this period, spawning a new crop of multimillionaires, the Wealth-X and NFP Family Wealth Transfers Report published on Tuesday said. "As self-made UHNW baby boomers start passing on their wealth to their children, the importance of entrepreneurship and hard work will be put to the test," the report said.



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