The world is entering a 25-year phase known as The Great Wealth Transfer.
Baby boomers are passing approximately $100 trillion in wealth to heirs through gifts and inheritance, leading up to 2050. This unprecedented transfer means Gen Z and Millennials will inherit a significant portion of global wealth in the coming decades, expanding the ranks of high-net-worth individuals worldwide.
That's in addition to what they're building themselves.
Some will inherit a portion of this Great Wealth Transfer—but even for those who rely solely on what they create themselves, the next few decades hold extraordinary financial opportunities for those who are diligent and purpose-driven.
How Younger Generations Are Approaching Wealth Differently
These younger generations (currently ages 18-44) are not just building and inheriting wealth—they're approaching it differently. Research shows that they:
- Value holistic wealth. Success is defined by progress toward life milestones more than merely outperforming benchmarks.
- Follow diverse life paths. Career trajectories, timelines for homeownership, marriage, and children vary widely, increasing the need for thoughtful estate planning, insurance, taxes, and investment strategies.
- Want to avoid FOMO pitfalls. Many have learned to be cautious after chasing opportunities that didn't live up to expectations.
- Seek alternative investments. Emerging asset classes like crypto and private equity are more appealing to these generations.
- Invest with values in mind. Sustainability, social impact, and personal priorities influence where they allocate capital.
- Prefer autonomy and partnership. Financial advisors are valued as partners, coaches, or teammates. Some prefer hands-on guidance, others a more hands-off approach.
- Embrace technology. They enjoy a hybrid approach: online tools, video calls, and in-person interactions, with regular access to advisors being important.
Every Generation Plays a Role
Yet, the story of the Great Wealth Transfer isn\u2019t just about Gen Z and Millennials. Other generations play a crucial role too:
- Passing values by example. Life experience offers lessons that money alone cannot teach. Knowing how to preserve, respect and enjoy wealth is a deep and hard-won character trait.
- Sharing wisdom. Guidance from lived experience shapes the next generation\u2019s decisions.
- Living fully. Engaging in the 12 types of riches, they can pursue passions with greater freedom and independence.
- Structuring legacy. Thoughtful planning transforms inheritance into life-changing gifts for loved ones.
And let's not forget Gen Alpha. I have tremendous hope for this generation. We are entering a world of extraordinary opportunity—a world of plenty for those who know how to use the tools at their disposal.
As Solomon once wrote:
and whatever you get, get insight.
Prize her highly, and she will exalt you;
she will honor you if you embrace her."
For those who seek wisdom, insight, and knowledge first, financial abundance—and the ability to enjoy it—is usually not far behind. True wealth is rooted in understanding, not just accumulation.
The Bigger Picture: Here's What's Happening
Globally, we've witnessed unprecedented advances in technology, communication, and independence. But through it all, we're learning about ourselves:
- Our love for meaningful work.
- Our appreciation for multiple forms of wealth—not just financial, but intellectual, spiritual, creative, relational and health-wise.
- That convenience, while valuable, is not the only measure of a life well-lived or a world well-designed.
- The importance of human relationships, art, nature, health, adventure, novelty, creation, transformation and purpose.
Learning these truths takes time—both as individuals and as a global society. But it's happening. The more the world changes, the more we recognize what makes us human and what it truly means to live abundantly.
All generations are on this journey together, each playing an equally important role. By understanding differences, embracing purpose, and aligning resources with values, we can unlock greater investment success and a more fulfilling life.
I truly cannot wait to see where we go together next.