Where Baby Boomer wealth will end up: Firstlinks

Published 15 May 2024

Within five years, all Baby Boomers will be eligible for retirement and the Boomer ‘bubble’ will have all but deflated out of the workforce by 2028. This demographic shift will have profound consequences for the financial industry and advisers.

A Productivity Commission paper, released in 2021, estimated that the transfer of inherited assets at about A$120 billion per year, and this figure is expected to grow to almost A$500 billion per year over the next 25 years.

The same research also found that the average age of inheritors is 50 years old, close to the mid-point of the age bracket corresponding with Gen X, which makes them an important part of the answer to the question about who will inherit the bulk of the baby boomer wealth.

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