How Do We Protect the Next Generation from Blowing Our Money?
Can you even imagine a billion dollars? If you earn $45,000 a year, it would take you 22,000 years to amass such a fortune. Well, now imagine $1 trillion. That’s 1,000 billion. One trillion divided evenly among the U.S. population would mean that everyone in the U.S. would receive a little over $3,000. Now imagine $68 trillion. If we use the same math, each person would receive about $200,000.
What is so magical about $68 trillion? It is the amount of money that is projected will transfer. Mind-boggling, at best. Generation X (born between 1965-1980) stands to be the primary beneficiary of this wealth transfer. But are they ready for that money?
