Contrary to popular belief, the upcoming "Great Wealth Transfer" from baby boomers to younger generations is expected to be significantly less than anticipated. While estimates of the total wealth involved range up to $124 trillion, a report from Visa Business and Economic Insights suggests that only about $36 trillion will be passed on after accounting for taxes, fees, debts, and the boomers' own retirement spending. This means the average inheritance per household will be around $515,000, with the majority of this wealth going to already affluent recipients, limiting its impact on overall consumer spending. AI
RANK_REASON The item is a commentary on an economic trend, not a direct announcement or release.
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