[Brad Lockyer]

After decades of whinging about Baby Boomers ruining everything from the environment to the housing market, it seems the fortunes of Millenials are set to change.

Research from real estate agents Knight Frank shows those born between 1980 and 1994 are in for a “massive transfer of wealth” due to inheriting property and shares from their Baby Boomer parents. Their data showed the majority of this wealth transfer will happen over the next 20 years.

The report found Millenials are set to inherit, as a generation, a whopping $4.85 trillion, making them the wealthiest generation ever.

Liam Bailey, global head of research at Knight Frank, told The Standard, “The implications for investment managers and financial advisers, or for anyone else working with these new cohorts that will become wealthier, will be quite significant.”

So next time your kids are whining about their elders, you might want to remind them of what’s coming. Or not!

[Peter H]

The millennials are also the “now” generation meaning they want everything now. I am in the baby boomer generation and I had to wait until 60 to buy my home. This was an inconvenience but one I had to wait out.
Many millennials might need to wait also. It all depends upon the circumstances of life.
There is no doubt millennials will continue to feel that they aren’t getting a good deal. Many boomers had similar issues. Deal with it like we had to.

[Ken]

No wonder edit is “we’re living with COVID” – a pathway for an early inheritance.

Covid 2.0 should hasten the transfer of wealth. Win-win for the governments ( less expenditure on healthcare, hospitals, PBS, pensions and more money for lowering taxes) Win-win for Uber-rich ( will happily buy up all those blue chip shares, businesses and housing. Win-win for workers – those Old Pale Stale Males (OPSM) will prematurely depart and provide employment and promotion opportunities for the Millennials.
Win-win for ALP as all those boomer pensioners have been voting for One Nation and Liberals and win-win for LNP as the remaining pensioners will disappear. Win-win for those millennials wanting to run the family business. Win-win for those wanting the family home instead of renting their life away.
All these benefits from one little virus and the best part is we can blame another country. I just hope if that’s true that they don’t learn how to develop a knockout virus 🦠

[Author]

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