Visa Sees Boomers Passing On $36 Trillion as Debt and Spending Cut $93 Trillion Fortune
Updated
Updated · Yahoo Finance · Aug 8
Visa Sees Boomers Passing On $36 Trillion as Debt and Spending Cut $93 Trillion Fortune
3 articles · Updated · Yahoo Finance · Aug 8
Summary
$36 trillion of baby boomers’ $93 trillion wealth is likely to reach heirs, Visa said, far below headline estimates and equal to about $515,000 per inheriting household.
Visa said debts, taxes, fees, charitable giving and roughly $16 trillion of retirement spending sharply reduce what can be passed on, with 41% of homeowners ages 65 to 79 still carrying mortgages.
After subtracting liabilities, boomer wealth falls to about $88 trillion; excluding the top 1% leaves $60 trillion, and the bottom 90% of boomer households hold just $16 trillion.
That concentration means the $515,000 average likely overstates what most millennials and Gen X heirs will actually receive, because a disproportionate share will flow from affluent families.