Posted 4/5/2024, 10:09:16 PM
Boomers Pass Trillions in Wealth, But Nearly Half Expect to Leave Behind Debt
- $90 trillion transfer of wealth underway as baby boomers pass assets to children
- 46% of Americans expect to leave behind debt when they die
- Higher income Americans more likely to pass on debt (58% for $150k+ vs 47% under $150k)
- Average US household owes $10k credit card debt, $241k mortgage, $59k student loans, $22k car loans
- 60% living with kids expect relatives to pay debts if they die, 38% not living with kids
