What will millennials do with their forthcoming $30 trillion inheritance?
Financial literacy can take many forms—whether you need support getting started on a savings account, learning the basics of investing, or preparing for milestones like getting married or buying your first home.
These types of questions should be top of mind to younger generations of Americans, who will inherit some $30 trillion over the next several decades from their baby boomer parents and grandparents.1
What will millennials (ages 18-32) do with this startling transfer of wealth? How will they rise to the $30 trillion challenge?
Millennials want to create a road map for their financial future guided by their values, relationships, interest and long-term goals. They want to make wise investments to grow and protect their wealth.
However, millennials want more than just personal wealth. At more than 80 million2 strong, this generation has the power to do amazing things. In fact, many believe in their potential to transform the world, given their strong desire to produce positive change and their commitment to giving back. Whether it’s targeting investments to make a sustainable impact or committing to worthy causes, millennials are expected to leverage their wealth in new and innovative ways.
Millennials, like Morgan Stanley Financial Advisor Kate Bregman and Complex Business Development Manager Kevin Pasha, understand just how much this generational transfer of wealth matters. Morgan Stanley is committed to helping this generation prepare for its inheritance and achieve the amazing.
To learn more about how you can invest, grow and protect your wealth, contact a Morgan Stanley Financial Advisor.
1 Source: Accenture. The “Greater” Wealth Transfer—Capitalizing on the Intergenerational Shift in Wealth, 2012: http://www.accenture.com/SiteCollectionDocuments/PDF/Accenture-CM-AWAMS-Wealth-Transfer-Final-June2012-Web-Version.pdf.
2 As of 2012, it is estimated that there are approximately 80 million US millennials. Source: http://business.time.com/2012/03/29/millennials-vs-baby-boomers-who-would-you-rather-hire/