Find out which will be the 'richest generation in history"
Were you born between 1980 and 2000? You could become “scandalously rich”!
According to an excerpt from a study by Knight Frank (an international real estate agency), Generation Y (Millennials) is about to become “the richest in history”. And it is the older generation (born between 1945 and 1960), the baby boomers as they are called, who are said to be behind this historic influx of money. Indeed, the study, which will be published in its entirety on March 6, shows that over the next ten years “a massive transfer of wealth will occur as the Silent Generation (those born between 1920 and 1940) and the Baby Boomers (those born between 1945 and 1960) pass the baton to the Millennials.”
To name just the United States, millennials would gradually inherit “90,000 billion dollars in assets, including real estate, from their elders” in the next decade.
A substantial and sudden influx of money that will particularly interest companies. According to the study, millennials no longer have the same relationship with wealth and are much more focused on the ecological transition. “The marketing approaches of wealth managers will surely have to be completely rethought, because investment strategies vary greatly from one generation to another,” Knight Frank emphasizes.
(MH with AsD - Source: BFM Immo - Illustration: Unsplash)
