Washington Post reports:
While the youngest boomers are still in their forties, the generation as a whole is shifting from one of net savers to one of net spenders. And what that leads to is the fact that over the coming decades, wealth is expected to transfer between generations at only an increasing rate.
So by 2018, Generation X and Y, or those folks in their twenties, thirties, and forties, are projected to hold 28 trillion dollars in collective net worth; nearly three times what it was just ten years ago. And those two generations also represent 105 million people, 30% more than the massive baby boomer generation.