WARNING: The Biggest Wealth Transfer in History Is Coming
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- Опубликовано: 4 янв 2022
- Lets talk about The Great Wealth Transfer, what this means for the economy, and why millennials are soon about to become the Wealthiest Generation - Enjoy! Add me on Instagram: GPStephan
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THE GREAT WEALTH TRANSFER:
On the surface, The Great Wealth Transfer refers to a VERY LARGE shift in money from Baby Boomers to Millennials…and, what makes this so significant is that there’s a LOT of money about to change hands.
According to the Federal Reserve, Americans age 70 and older had a total net worth of nearly $35 TRILLON DOLLARS. On top of that, older generations will hand down an estimated $61 TRILLION DOLLARS from 2018 to 2042, shaping the way our economy allocates its resources, and prompting the questions: what’s being inherited, will it last, how will it be taxed.
One: Millennials will soon become the wealthiest generation on record.
Eventually - their socially conscious ideologies will become more of a reality, and - in the process, we’re likely to continue moving towards tech, green energy, solar, social media, etc.
Two: Millennials are becoming Financially Savvy.
I think our generation has a much stronger grasp of risk, returns, diversification, and the importance of dollar-cost-averaging into index funds. On top of that, even though 40% of Millennials surveyed said they don’t trust others with their money - 64% said they trust established wealth management brands more than new players - meaning, there’s an even balance between people who want to do it themselves on WallStreetBets, and hire a financial advisor who tells them not to panic sell.
Three: Taxes are inevitable.
For inheritances above $11 million dollars…and, soon to be above $5.5 Million in 2026…40% goes to the IRS. Under that threshold - inherited investments are ONLY TAXED on the GAINS that have occurred AFTER that person’s tasing…meaning, someone could’ve invested $100,000 into Tesla when it was $20 per share…passed it on to their children at a market value of $5 million dollars…and, with a stepped up tax basis…that heir would only pay any tax on profits above $5 million dollars. Ultimately, this “Stepped Up Tax Basis Loophole” is something that is probably going to be eliminated at some point….but, just something to keep in mind.
Four: Economic Spending is going to increase.
This is, arguably, a great thing for the economy - because, when 50% of inherited wealth is spent - that’s a LOT more money getting sent back into circulation. We could see more real estate changing hands, more cars being bought and sold, more time spent on leisure activities and vacation, and - overall - that’s going to boost everything else alongside with it.
Five: New Opportunities Are Going To Present Themselves.
As one door closes, another opens - and, inevitably, investments and entrepreneurial ideas will come from a gradual shift in demand, trends, and macro changes. That could also mean that, when millennials prefer CASH over STOCKS - other, alternative investments could take precedent - like, even more Cryptocurrency.
So, overall…The Great Wealth Transfer IS going to have a significant impact on our entire economy over the next few decades…and, even if you don’t get that $11 million dollar trust fund…there will still be ever-changing opportunities that stem from more money being spent, moved, and built each and every year.
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It will be interesting to see how many "financial advisors" still exist in the future when the younger generations realize they can learn everything online without having to pay exorbitant fees like their predecessors
I think they still will because people will always be too lazy to take the step to actually learn things
People have professions for a reason, everyone can’t do everything.
A coach is not bad. It can save you alot of time of trying to connect all the puzzle pieces.
You give too much credit for online education. As online information is so readily available, how do you explain people voting for Trump in 2016 or 2020? The answer is - there is just as much misinformation online than real information online.
@@yackawaytube first what does politics have to with what we're talking about Second why do you honestly think the democratic party would have done better name a specific policy trump had that hurt the American people in a significant way
5:00
Hard times create strong men.
Strong men create easy times.
Easy times create weak men.
Weak men create hard times.
It's a cycle.
Thanks Joe Rogan!
This.... the worst thing to believe in. Imagine an athelete trainin for Olympic. We need something to growth. The best is when everything is optimal.
Facts
It ain't that simple Confucius.
@@wonderzwonderz9369 lol exactly what I was thinking
Man this just makes me think I rather have my parents alive and healthy. So I don’t ever want to think of my inheritance. I just want to work hard and want to create my own wealth and help my parents out too.
Agree 100%
My parents are very well off.
First generation rich.
I'll be 2nd. ( without an inheritance)
My kids will have FU money by the time I'm dead and gone lol.
Raising them right.
You deserve more thumbs up for this. I tell my folks this all the time, I don't need their money I'd rather have some of their time.
@@house9850 aren't you all f****** lucky. Most of my money will go to taking care of my parents
@@HORNGEN4 chill brother I am a working stiff like most people but I grind and put as much as I can towards investment. I am better off than some folks and worse off than others. Nothing will matter when the solar flare hits, I'm all about prepping.
There is a 100% chance that your parents, you, and everyone you know is going to die. I have watched a lot of friends and family members die over the years. Many died of old age but some died young from cancer or a car wreck. Everything and everyone eventually dies. But death is not the end it's just a new beginning.
after 15 years as a bartender , last year i finally quit my job, open a small business and bought my first rental house. olso catched the market rally from 2020 , i was lucky enough to have some good savings .And to be honest, most of these things happened thanks to you, Kevin and Andrei.
Cool story.
Hell yeah bro!! Get it!! That’s what’s up! This is what it’s all about! Hopefully you help people do the same!
Thank you DONALD TRUMP!
Pay off your debt first before investing more money
Wish you much success in 2022 and beyond! -- Retired Boomer in Pacific Northwest.
Sure wish I could inherit $100k. My mother and father both passed in the past year and left me absolutely nothing except funeral cost I had to cover. I loved them but they were never good with money. I’m trying not to leave my kids in the same position. We bought a house so we’re on our way to leaving some kind of legacy for my family
life insurance, you’re gonna wanna get some
You learned the value of money from watching your parents that didn't have a value for it. You learned more than 100k$ could have given you. Lessons learned and your children will better off in later life thanks to their grandparents. My condolences lost my mom as well in 21.
Imo, if someone doesn't cover their own funeral costs or donates their body to science, don't claim the body, it's just messed up to not only be grief-stricken but also have a bunch of extra costs and headaches along with that grief. My grandfather passed recently and wasn't allowed to donate his body due to covid, now my step-dad is holding the bag due to his siblings being pretty bad with money.
@@Metal_Stacking a very good point. Sometimes these life lessons are worth more than money.
My parents worked hard and provided us with everything, but they have no understanding of investment strategy. They have no stocks or mutual funds, and they own a small retirement condo. I had to explain to my dad about amortization tables yesterday. My brother and I both built our own wealth (I am a doctor and he is a lawyer). We both own rental properties and we have no mortgage or debt.
I quit my job as an emergency nurse - this pandemic burnt so many of us out.
Excited for the next adventure!
good luck!!
OOF
Yeah tik tok dancing is tiring .
Dancing nurse? Union breaks every 15 min?
Yeah I hear you. Healthcare asks to much. I got shamed for being hospitalized and before that a broken foot. Jobless but I refuse to return to a low paying healthcare job.
"I think our generation has a much stronger grasp on risk, return, diversification ...."
WSBer : "Time to YOLO 100% into a short call option on GME ending today. The apes said it can't fail."
Lemme drop $10k on a digital salmon while I'm at it
@@JackDuffley 🤣🤣🤣
Bruh bahaahhahahaha
When that fails you just need to double down on out of the money TSLA calls
@@Blaman44 seen some apes do that and come up big 🤣
Millennial investing and spending patterns have certainly been interesting! I'd say we are more savvy yet also more reckless!
Millennials are more reckless now because of their time horizon, youthful exuberance and lack of experience. As far as more savvy, millennials just have far better access to information than past generations and much more convenient trading tools. Human nature itself never changes.
Either save or reckless, very few in between.
@@darin7369 couldn’t have said this better myself.
100%
These videos and Graham’s advice have been life changing for me! I appreciate you good sir!
Glad to hear it!
I'm part of the "I won't inherit anything" bunch. I will change that for my kids for sure!
Preach!
Not true, You get to inherit $30 trillion in debt and you will also probably get the opportunity to pay it down in your lifetime.
As an elder millennial, I do think we've learned so much online at earlier times than older generations and there seems to be a large subset of a generation dedicated to savvy finance. But I also wonder how big that pocket is as a percentage, or if my views are skewed by the algorithm. No big inheritance expected here, but I'm chucking 21% of my pay into retirement. I've got some catching up to do.
I think the opposite. There is a small group of our generation that are clued into saving and investing for the future but the vast majority are not saving a penny outside of their company pension scheme if they have one and are in debt to their eyeballs on house, car and credit card bills.
Older generations had more generous company pensions and the even more clued in who had the cash bought second homes when they where a lot more affordable.
@@Weakeyedominant The main thing gen x and the baby boomers had that we may not get is a reliable, average annual 10% return on the S&P 500. Who cares about a generous pension when you could get a 10% average return on your money? You didn't need a pension with that sort of returns. Who cares if you could buy a 1100 square foot house for 70k when you could get 10% in the S&P 500?
That's the real thing we might end up missing.
I don't know Graham ... I'm a Gen X'er (I turn 50 this year) and I feel really left out! LOL! I'm caught between having watched my Dad (who turns 87 this year) do badly at selling houses for 30+ years (I dont know why he stayed so long) and living as a kid just above the poverty level ... to having millennial children now whose fellow millennials make 1000s a month making 30 second videos ... who can make sense of this? :-)
Very true. Its interesting
Great moves my friend! I’m not big on dividend investing as my stock investing is mostly long term index/ETF and last year I made about $60k in appreciation so that’s exciting!
Invested in S&P 500 ??
I always like your videos, because you keep it real. I'm in my early 40s and playing catch up.............with that said, I'm in great shape. BUT that doesn't mean we can't learn from each other regardless of age.
More of these videos please! I learn so much just from those 10 minutes, that I could ever learn from educational system... I love your work! And I would really like to see more of these INEVITABLE CHANGES. Keep it up
Glad that I’m not the only one a part of the great resignation. Sad part is that I took a pay cut, but at least I work from home now
Are you happier though?
@@jutau only time will tell, today was my third day
Thank you Graham for another informative video! I appreciate you taking the time in editing, scripting, and filming these videos! It’s crazy how people pay thousands of dollars for this stuff but we get it for free! You inspire me like crazy to be this informative with my videos on my channel! Thanks again!
I’m so used to what’s up graham it’s guys here that the intro immediately confused me haha
Same
Had to switch things up!
It was quirky at first but now it's just overdone.
Same.
Great topic btw
Grahm has inspired me to start my own channel and talk about money real estate and other things. As a 24 year old in Canada 🇨🇦 many videos don't relate well but Graham gives huge value and has impacted my approach to personal finances.
Thank you for sharing this video with us. These videos and Graham’s advice have been life changing for me!
Us Gen X'ers seem to be left out of every conversation here on RUclips... It's true, we're the "Forgotten Generation".
I feel like with all the spending, this great transfer of wealth will lead to a lot of that wealth being burned in taxes, and never seen again...
Thats what the government is hoping for. :)
Absoultly says Graham is right ! The BIGGEST wealth transfer in history is about to occur, as things in general and technology become more streamlined and the younger generations become more savvy. Having multiple flows of income.Thank you so much shaering this helpful video.
My fellow investors reading and watching, I know you’re as happy as I am. Good luck out there!
Yes! I was waiting for this fact check on generational wealth and inheritance. Thank you! It is a factor we all should consider when thinking about voting and the general public welfare.
How do you weigh a Millennial???
In Instagrams
Had to heart this
Lmfao
This video has been made on a good subject.This video discusses how people will move forward with that special relationship through the development of technology
I'm excited to see how the great wealth transfer will change our society, especially since we're getting deeper into the information age (ie: web3, dao, etc).
Market is definitely changing faster than ever and i dont think many people are going to be sticking with their career for awhile like the older generations
I inherited money/assets last year but it was due to father/w cancer and I had to disolve a business ownership to do so. I worked for half of what my current net worth is though.
so sorry for your loss :/
🙏 🕊
While sad, this is also an opportunity to be smart with the additional income, invest it well and make your dad proud from beyond the grave
I’m sorry for your loss. What you mean to say is your net worth is twice what you accumulated on your own.
graham you’re the🐐
The advice has changed my life. Thanks for the video.
More of these videos please! I learn so much just from those 10 minutes, that I could ever learn from educational system... I love your work! And I would really like to see more of these INEVITABLE CHANGES, that are OBVIOUS but HIDDEN from public.
Great video, thank you for sharing. I hope everyone is bracing themselves for the end of the week and into next week… economic data coming out will rattle the market and only those prepared will reap the benefits of investing during this time…
100% spot on with the 1st Gen, 2nd Gen, 3rd Gen analysis. I always said the same thing. I saw this first hand working for several family businesses.
Amazing video. You explain so clearly. Really I try it. Thank you so much for sharing this video
Love your breakdown on the wealth transfer, it's happening! Thanks Graham!
Glad you liked it!
I think a huge part of the problem with wealth that's inherited is that those that inherit it have no idea how it was made or invested. Without that knowledge it can easily be lost. If you have no idea how to invest money you can't earn passive income and keep the money flowing and compounding. And since the ones who inherit the money have no idea how it was earned they can't generate more money that could then be invested. It all boils down to business and finance needs to be taught more in schools, it's very important.
They don't teach it for a reason, corporate interests and government's wouldn't be able to take their cut if people were informed!
Well, their parents might pass the knowledge
Or parents should stop delegating parenting to strangers and the state.
Slavery.
Great video. Thanks for that. Much needed perspective after today's shenanigans
Great video Graham! As a financial advisor, this gave me a lot of good content ideas. So, thank you!
The fact that there is very few family businesses passed on from generation to generation doesn't mean they "failed", just that they were sold to people outside of the family
Failing traders enter the market with the intention of forecasting market movements. They trade something they want to see happen in exchange for something they don't want to happen. Experienced traders enter the market with no expectations in mind, ready to watch and act when the timing is right.
That's why I always recommend having a strategy and buying the dip, as well as having a well-diversified portfolio.
I work with a coach named 'Jessica Meador Jones,' who has taught me that buying the dip isn't enough; you also need to comprehend the trend. For example, picture purchasing the dip during a bear market, as happened May. i copy her trade in real time, with 10-15% ROI in active 28 days.
@@chris-pj7rk is this person easily accessible, how can she be reached?
@@claradidi7573 just check her on the web to know if you like her services.
Great video! I'm a Millineal, here! Thanks for the news and information! You're great!
Loving Trickle-down economics so far.
It will definitely happen for AMC GME holders
It’s a fantastic volatility hedge when one actually digs in to it. GME is a once in a lifetime occurrence, an anomaly that will never happen again. And it never ended. Tick tock tick tock.
Hey Graham, you spelled "being" wrong at 1:53, just goes to show how closely I watch your videos. Very interesting content here!
I watched it again to verify. You are right and Graham, my friend you are too good to do this tiny mistakes. 🤣🤣🤣
Super interesting ! Thanks for all the thoughts/info!! These are things that are never talked about in my family and in my circle so I love having things brought to light for me to look into and gain some insight on 🙌🏽
You are so welcome!
Amazing video. So nicely you explain. So much helpful video for me. Thank you so much for sharing this video with us
In finland we have variable interest rates on mortages. For example 0.8% currently for a new customer with basically no financial records. What do you think of it?
Im no expert but you have to be careful. Thats how many people lost their homes in 2008 here in the US. The interest rates went so high that people could not pay their mortgage.
@@dani-uf1eo The good thing for first time owners is that the government pays 70% of interest that goes over 3.8%.
As Dani say, be careful. That's the trap that ruined so many people's life. You need to calculate for a 5-8% interest. Can you afford that? If not you have to sell, and since interests are do high, prices will drop (because people can't afford as much) and you will be left with a big part of the mortgage without house. And every government is know for changing the rules retroactively.. Don't count on them.
Median inheritance $69,000… nice
hehehe
Simulation Confirmed
I will give you that like and full viewer retention as long as you keep doing the full write up of the video in the description keep up the great work
This is a really interesting topic, lots to look over
It’s been happening for a while the streets are filling up with homeless
Graham help I need encouragement to hold on to SQ and not sell at a 25% loss
Either buy in to lower your average cost or hodl. Either way, Block's P/E is pretty high. So it makes sense it's dropping. I own it too and learned about the P/E today
If it makes you feel any better, I’m down 32% on SQ. Buy more at lower prices if you truly believe longterm in it. Just HODL, and remember, never panic.
Quality video with good information.
Very interesting video about wealth transfer.
Me a Millennial knowing my family has nothing to inherit still watching this video like I have a chance lmao. Im just going to keep busting my own butt for my kids and hope it ripples down to theirs.
exactly!
No inheritance for me.
But I'll grind harder in the new year.💪
YESSS
Great Info Graham. Thank you as always for your financial tips. Very inserting stats and gave me some ideas that I will do research on. Cheers!
Excellent video I really good information about the. The biggest wealth transfer in history thank you so much
Also, what’s going to happen to the housing market when boomers start selling all their homes at the same time? A good topic for one of your videos.
To be bought up by the REIT monsters!
This boomer rents a one bedroom flat.
I run and owned a Tool & Die Business for 50 years, my Son and Grandson both followed in my foot steps when young, both have quit doing easer less demanding work. When I pass on my business will be sold and probably they will spend my money on a Meta Verse Yaht or some other stupid material things to make there flashy wives happy. Sad story I know, that's what it is.
Enjoy your videos, title and thumbnail fitted the video. Thank you 👍
Hey Graham 👋 Anthony here been watching many of your videos the last year 😀 wanted to say thank you for the great info and entertainment.
But wait here's the catch I was hoping you could do a video on when and how's the best way to close a credit card account and open other more profitable accounts plz and thank you 😊 🙏 happy new year
Graham love the video as always, I know you have already reacted to Ali Abdaal's videos. But he has recently released new videos on how much he earned in 2021 and how much spent. Just thought it would be a good idea on the second channel.
I've seen! I might do that !
"Refusing to invest" dude I'm making 60k and living in a 1 bedroom and struggling to save 5-10k by sacrificing everything remotely fun lol
There was a study that a large portion of Millennials didn't want to invest because they felt it was too volatile
@Graham Stephan bro cost of living is insane right now and jobs are not paying. You think people aren't investing because they don't want to?
You have a Company match and a tax shelter in your 401k. Refusing to take advantage of that is flat out Idiotic. Better you hear this now, than 40 years from now.
@@Jamel352 it’s a combination of both
Cali is worth it tho
I’ve had my already to get on the property ladder… can’t complain though you shouldn’t expect anything but if you do just be grateful for anything you do receive
This was an interesting vlog and scary at the same time ... I have often believed, one generation makes wealth, the next generation then wastes it; the third generation then once again creates wealth, and so the wealth cycle continues.
Me watching this knowing the only thing I'll get passed down is debt 😆
You forget that if the financial market melts down, there won’t be any retirement money to live off nor investments left to pass on to the younger generation… And since the boomers are about to retire all at the same time, well, you do the math 😬
Wow excellent video tutorial.. well explanation step by step. Thanks for sharing this video. Keep it up.
I 100% agree with you.
Hold on, Graham. Didn’t that article say that Gen X stands to inherit 57 presumably trillion because that’s the denomination that the article was speaking of? It seems that millennials will have to wait and that Gen X will be the most immediate beneficiaries, which makes sense since they’re the next generation in line.
Gen X are typically the children of the silent generation (now ~80+) and are already receiving their inheritances. Boomers were a much larger and wealthier group than the previous generation and their children are typically Millennials, which is what this video is about.
Gen X and Millenial are in the same camp My siblings are gen X, I'm elder millenial. The point is the baby boomers are dying and their wealth is going to their children and grandchildren.
@@cjmhall Not really. Gen-X covers 1965-1980 which means most of us are children of boomers.
I'm sure our future grand kids will eventually complain about how their millennial grand parents have all of the money and that the system is rigged, thus continuing the cycle ♻️
Wealth isn't money.
@@chrisallum9044 yea+ but you know wh+6at we ne+6an
History never had the internet it won't work that way
dont worry if things continue everyone in the next generation will be living like.north koreans
I'm self-made I don't need their money so i'll just reinvest every single dime of my inheritance. Plus when my kids leave the nest my wife and I are downsizing. Create low profile lifestyle and travel
Alex did a great job editing this!
thanks dude for this helpful video loved the way of presenting
I keep hearing about this great wealth transfer. Unfortunately for me, my parents are leaving me nothing. Fortunately for me though, I am a self made real estate millionaire.
Wealth will transfer from Baby Boomers to Millennials --- so it just skips over Gen X? Or did you forget about us like every other Millennial and Baby Boomer has. Actually I really like being on the sidelines for these conversations. Gen X -- we do our own thing
Gen X should be getting inheritance by now. Considering oldest gen X are mid-50s
Muppet
I was just thinking the same thing. Gen X seems to be the forgotten generation or something 🤷🏻♀️
Gen X had it easy
He's talking about the "biggest wealth transfer in history" because boomers and their Millennial offspring greatly outnumber the silent generation and Gen X.
Awesome video Mr. Graham
Your cup is not half full! It's overflowing with optimism. Love your channel.
greetings earthlings
greetings!!
I’ll be ready for this video in 20 years when it’s on gen z
lets see!
I’m going into public accounting. Rip me, but excited for steady Eddie income
im ready 🥇❤️
If a lot of inherited money goes into paying off debts .. that would be massively deflationary, no?
HOLD AND DO ABSOLUTELY NOTHING
YESS
Informative and helpful video. Thanks for shairing.
Great video! Really appreciate all you do.
looking good ill say at least a 4
😮
wow! that would be crazy!
if you want to trade stocks with real value, it requires real research and knowing of industries!
First step, is to know where to find an undervalued company with amazing potential?
The price shouldn't matter if the project is doing what should matter.
@@ibrahimmyles9186 thanks for the info . Found her website and it's really impressive.,
Digital Real Estate was my ad before your video
it will be huge !
the timing on this video couldnt have been better especially with how hard the market dumped today lol
lets see!
Yeah the biggest wealth transfer to assisted living and nursing facilities
Time to buy a Nursing Home!
The day of the pillow is approaching
@@GrahamStephan nursing home: Invest!!!
@@GrahamStephan or invest in REIT’s for senior living. 😀
Thanks for the video & info. I appreciate the comedy. I think I'm going to go out and invest in some stonk as soon as I find out what that is.
Really interesting topic and data in this one. Thanks
“Hard times create strong men. Strong men create good times. Good times create weak men. And, weak men create hard times.”
The greatest transfer of wealth has actually been happening for more than a decade, where we have the most income inequality we have ever had. There's going to be a boom all right!
Inequality in relation to what?
Millennials with wealthy parents / families** will become the new richest generation. I'm not one of those with a large inheritance on my way but I am working towards scaling my income, investing, and building my own wealth
Can't Stop Won't Stop