The Great Wealth Transfer of $84 Trillion

The Great Wealth Transfer of $84 Trillion
Alice Lema, Broker with John L Scott
541-301-7980
00:00:13 💸 $84 trillion is expected to be transferred from Baby Boomers to younger generations over the next 20 years, significantly impacting various sectors, including housing.
00:00:55 🏠 Many beneficiaries will use their inheritance to buy homes, pay off debt, or start businesses, potentially driving changes in the real estate market.
00:01:25 📊 Baby Boomers, born between 1946 and 1964, are set to pass on $4 trillion, with a much larger $57 trillion expected from younger generations in the coming decades.
00:02:48 🧓 Longer lifespans and better health are delaying wealth transfer as many Baby Boomers choose to age in place rather than downsizing.
00:03:14 💡 Some Elders are beginning to distribute their estates before passing, including selling businesses or adding heirs as partners, though this trend is still growing.
00:04:07 🏢 Estate planning options include selling assets, forming partnerships, or establishing trusts, making early planning essential to avoid complications.
00:05:14 📞 The speaker encourages early estate planning and offers assistance in navigating complex situations, emphasizing the importance of having a clear plan for asset distribution.
✅ Summary complete. by Harpa AI

[@rickashworth3948]

Good job alice,your the best.