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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WSJ Your Money Briefing · Boomers Made a Record Amount of Money. Now They're Giving It Away. · 6 Jul 2021 podcast

I think it affects different people in different ways.

So the young woman who received some money from her father, it encouraged her to invest in her education and put money into an investment account that kind of takes some of her paycheck and invest it into low-cost mutual funds.

And on the other end of the spectrum, additional money can also create additional problems.

You have an increase in

litigation around estates and broader kind of feuding, which is something that has always happened, but you're seeing more of it as the dollar amounts get larger.

In some ways, it really remains to be seen what will happen.

You know, you have an estimated $70 trillion that will be handed down, and that will take place over decades.

But we really are already kind of seeing some of the effects of this rippling through.

You're seeing it in parents helping children buy houses.

You're seeing it where money is going to philanthropy.

And you're seeing it in new business formation.

And

One of the sort of interesting findings about wealth transfer is that when somebody receives money, it can kind of give them the freedom to take more risk, basically.

That's sort of one of its main effects.

Data has shown that it kind of drives a greater willingness to invest in stocks or to take on a riskier work venture, like working for a startup.

or starting your own business.

And these are things that have a greater likelihood of failing, but also can have a big payoff as well.

So it's one way in which people who have kind of received money can turn it into even more money.

So that's definitely one effect that we're kind of seeing.

That's definitely something that people should be watching.

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