The Great Boomer Wealth Transfer Myth: Why Massive Inheritances Are Unlikely for Most

The myth of the Great Boomer Wealth Transfer assumes aging boomers will leave vast inheritances to younger generations, but most of their wealth will be consumed by end-of-life costs.

Wealthy boomers will pass their money to their already-wealthy heirs, doing little to reduce wealth inequality. The median inheritance is small and goes to people who need it less.

Long-term care like nursing homes can completely deplete a retiree's nest egg over time, leaving little for heirs. Medicaid covers costs once assets are spent down.

Though boomers hold significant wealth in aggregate, it is concentrated among a small number of ultra-wealthy people. Most have modest assets that will be spent in retirement.

Despite the myth, odds of receiving a life-changing inheritance are low. Greater likelihood for those already wealthy. For most, any inheritance will be small and accidental.