Generation X, known as the 'forgotten generation,' is set to inherit $1.4 trillion annually in the next decade as part of the Great Wealth Transfer. This economic shift is significant as Gen X faces financial challenges, including a 38% decline in net worth during the Great Financial Crisis. Despite the immediate windfall, millennials are projected to receive more wealth overall, with $45.6 trillion expected to flow to them in the longer term. This transition brings newfound financial security and responsibility for Gen X, balancing the demands of their own families while preparing for significant inheritances.
"Gen Xers, born between 1965 and 1980, have seen their economic story overshadowed by the spending power of baby boomers and the tech-driven optimism surrounding millennials."
"Gen X households have faced much more financial and career upheaval early in their financial journeys than had been expected, seeing a 38% decline in net worth during the Great Financial Crisis."
"While Gen X will receive the greatest short-term windfall, millennials stand to inherit more overall in the longer term, with roughly $39 trillion flowing to Gen X and $45.6 trillion to millennials."
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