What is the 'Great Wealth Transfer,' and are millennials prepared?

According to Citizens Bank (FC6A.SG), Baby Boomers are poised to transfer nearly $84 trillion to millennials in the coming decades. Brahmin Partners co-founder and managing partner Salvatore Buscemi joins "Wealth!" to discuss his outlook on this impending "Great Wealth Transfer."
Buscemi observes that affluent boomers have strategies in place to ensure their wealth is passed along "in a meaningful way." However, he notes a lack of preparedness among middle and lower-class millennials for the influx of wealth they will receive, especially considering "the way inflation has been ripping for the past year and a half at least."
Regarding family discussions about inheritance, Buscemi told Yahoo Finance, "The sooner that you have the details up front with who's getting what and how much, that will be great. You don't see that very often until it's post-mortem in a will, and that causes all sorts of contention."
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[@andrewm7352]

This sounds like a marketing piece for financial advisors. “You don’t know money. We know money, pay us for managing your assets.” Wealth transfer means they want their piece.

[@chrisphilips2768]

84 Trillion being passed down. This proves how wealthy society really is

[@Sparta1993]

Not prepared for money? Sounds like these people want to steal it from you because they think they know what to do with it

[@BabyBoomersDoomer]

Some people get lottery size money, gl yall

[@on2thenextthing]

It's always about Gen z and millennials. The narcissism never ends. You're going to be waiting a while because it's going to Gen x first.

[@ryanparham3051]

No, it's because boomers' children are mostly millennials. Don't take it so personally.

[@shaunmc013]

Nah we’re the step children, the black sheep of the family. Gen X is going to have fend for themselves..

[@lioneaglegriffin]

Gen X came right after, aren't their parents silent generation?

[@lokesh303101]

Once Done Property Taxes have to be Raised