Generational Wealth Divide: Younger High Net Worth Americans May Reshape How Wealth Is Transferred to Future Generations According to New Schwab Survey
Charles Schwab Corporation (The) (SCHW)
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Source: Business Wire
Key Highlights:Millionaire Millennials and Gen X are more than twice as likely to prefer sharing their wealth with the next generation during their lifetime compared to millionaire Boomers.Three in five wealthy Americans who intend to pass on wealth say they started planning their wealth transfer before the age of 45, and more than half started planning once they had a net worth of at least $1 million.Younger wealthy Americans are significantly more likely to stipulate how their wealth can be used by future generations. WESTLAKE, Texas--(BUSINESS WIRE)--A generational shift is emerging among wealthy Americans planning to pass their wealth, according to Schwab’s new survey of more than 1,000 high net worth1 (HNW) Americans, as younger wealthy Americans break from tradition by opting to transfer their wealth during their lives, rather than waiting until after death. They’re also planning a more prescriptive approach to how their wealth is used.Schwab’s survey shows that among wealthy
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