Research shows that Millennials aren't exactly known for saving, but they're still on track to become the richest generation ever. They will be able to benefit like no other from the wealth accumulated by the generations that preceded them.
Those born between 1981 and 2000 can count on “seismic gains” over the next 20 years, according to research by property consultancy Knight Frank. This is partly due to inheritance from previous generations, including real estate.
There will be a significant shift in wealth between generations. Knight Frank said in its 18th annual wealth report that this reorganization will transfer $90 billion (about 83 billion euros) of wealth between generations in the United States alone, “making wealthy millennials the richest generation in history.”
However, many millennials are still suffering from a series of economic shocks, such as the 2008 financial crisis, Brexit, the pandemic, and the war in Ukraine. But their future looks bright.
The survey shows that 75% of Millennials expect their wealth to increase by 2024, compared to 53% of Baby Boomers (born between 1946 and 1964), 56% of Generation X (1965 to 1980), and 69% of Generation Z.
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