Commonwealth Policy Center

The “greatest wealth transfer in history” is taking place now. Baby Boomers are projected to pass on $53 trillion to their children by 2045. Boomers have benefited from incredible social mobility, a booming post-war economy, a rise in the stock market, and a steep increase in property values. They’ll donate an additional $11.9 trillion to charities. It’s important to remember that it’s the free market and individual drive that allowed the creation of this kind of wealth in the first place. Such transfer of wealth raises some big questions. How will they spend it? On themselves? Or will they pour it into others and build up their communities? And is this generation going to preserve the system that created this massive wealth in the first place?