Ben Eisen
speaker
1,467 appearances
35 recordings
1 series
first heard Jul 2017
last heard Nov 2024
Ben Eisen’s voice in public audio — every appearance, attributed to the second.
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So it's definitely grown.
That $35 trillion really dwarfs the size of the economy
And all told, you just have a lot of this money that eventually is going to be passed down and given away.
Well, the estimates over the next few decades suggest that about $70 trillion will be handed down.
And this is sort of a broader measure that includes people that will be aging into that cohort of people that hand down money.
And of that $70 trillion, according to Cerulli Associates, which does these projections, about $61 trillion of it will go to heirs and $9 trillion of it will go to philanthropy.
Well, that's something that's really grown over time.
So the average inheritance in 2019 was almost $213,000.
And that's up about 45% from 1998, which means that on an inflation adjusted basis, you've really seen very large growth.
What you're seeing increasingly is that people are doing it during their lifetimes, basically handing down gifts to their children, to their grandchildren while they're still alive.
And, you know, when you talk to people who are doing this,
there's really a sense that people say, we like to see our children and our grandchildren do well and be able to buy homes and go to college without debt, you know, while we're alive rather than at our death.
So that's something that you've sort of seen perhaps a little bit of a mindset shift there.
Well, it really depends.
Wealth transfer is something that really does take place all across the wealth spectrum.
The wealthiest people are going to be handing down the most money and will probably have the biggest impact on the economy, but you also have less wealthy people that are also receiving money.
So for example,
We spoke with a woman who was in her 20s and received about $93,000 when her father died.
And she used it to pay off her student debt, sort of encouraged her to go get a master's degree.
And it allowed her to kind of enter a new relationship that she was entering into with her now husband, really without debt hanging over her.
Showing 401–420 of 1,467 · page 21 of 74
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