The $84 Trillion Wealth Transfer: Who Will Benefit Most?

Introduction

Over the next 20 years, more than $84 trillion in wealth is expected to transfer from Baby Boomers to their heirs. Known as the Great Wealth Transfer, it will be the largest handover of money in U.S. history. But not everyone will benefit equally. Who inherits this wealth—and who doesn’t—will reshape families, businesses, and the economy for decades to come.

Who Will Benefit Most?

1. Children of Baby Boomers
Baby Boomers hold over 50% of the nation’s wealth, making their heirs—primarily Gen X, Millennials, and even Gen Z—the largest beneficiaries. This includes assets like homes, retirement accounts, businesses, and investments.

• Gen X (born 1965–1980): Will likely inherit first, as their parents are among the oldest Boomers.
• Millennials (1981–1996): Expected to receive the bulk of inheritance in the 2030s–2040s.
• Gen Z (1997–2012): May inherit later, but will also benefit from wealth held by Gen X parents who inherit first.

2. Wealthy Families With Existing Assets
Not surprisingly, the bulk of the $84 trillion will go to families who already have significant wealth. According to projections, the top 10% of households could receive as much as 70% of all transferred wealth. This concentration means the rich may get richer, widening the wealth gap unless policy and financial literacy initiatives change the landscape.

3. Women as Wealth Holders
Women are set to inherit a substantial portion of this wealth. Because women tend to live longer than men, they often outlive their spouses and become the primary wealth holders before passing it on to the next generation. This shift may also influence how wealth is invested, with studies showing women prioritize long-term stability, philanthropy, and impact-driven investments.

4. Heirs of Family Businesses
Roughly 30% of U.S. family-owned businesses are expected to change hands during the wealth transfer. Heirs who inherit companies may face both opportunities and challenges—preserving legacies, modernizing operations, or selling businesses outright.

Who Risks Being Left Behind?

• Communities of Color: Due to systemic inequities in access to property ownership, investments, and higher-paying jobs, Black and Latino families are projected to inherit far less wealth than white families. Without intervention, this could deepen the racial wealth gap.
• Families Without Assets: Millions of Americans live paycheck-to-paycheck with little or no assets to pass on. Their children won’t benefit from inheritance, creating greater inequality.
• Unprepared Heirs: Even among inheritors, those without financial literacy may squander their windfalls instead of building long-term wealth.

Conclusion

The $84 trillion wealth transfer will benefit Baby Boomers’ heirs the most—particularly Gen X, Millennials, and families already holding significant wealth. But it also raises critical questions about equity. Who inherits money shapes not only personal fortunes but the broader economy, from housing markets to entrepreneurship to philanthropy.

Pull Quote: “The Great Wealth Transfer will define not only who gets money—but who gains power.”

Call to Action

If you’re exploring the impact of the Great Wealth Transfer on generational wealth, business ownership, or equity, I can help translate the numbers into actionable insights.

👉 Contact me at stephanie@bggenterprises.com.