The anticipated "Great Wealth Transfer," which was expected to provide substantial financial inheritance to children of baby boomers, is seemingly on hold. A significant survey by Charles Schwab highlights that 45% of surveyed boomers prefer to retain their wealth for personal enjoyment rather than distributing it among their heirs. As the baby boomer population ages and increasingly reaches retirement age, it appears they are prioritizing their financial autonomy over passing down their substantial wealth, which has significant implications for the future economic landscape.
Almost half of boomers surveyed (45%) confessed they wanted "to enjoy my money for myself while I'm still alive."
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