We are entering the largest wealth transfer in history.

We are entering the largest wealth transfer in history.
Over the next 25 years, according to a report from research firm Cerulli Associates, 45 million U.S. households will pass a mind-boggling $68 trillion to their children — the biggest generational wealth transfer ever.
Individual retirement accounts alone in the U.S. held more than $9 trillion in assets at the beginning of last year, according to the Investment Company Institute’s 2018 Investment Company Fact Book.
According to a recent CIBC study, in Canada $750 billion is going to be inherited in the next decade.

This ‘inheritance boom’ will position millennials who have baby boomers in their families to receive record sums of inheritance, making them the richest generation.

Now, what will they do with money they did not have to work for? I am guessing vacation property will be high on the list (after paying of debt). And the Caribbean is already feeling that kind of investing. We are starting to see younger clients with pockets of cash. Will this create a ‘gold rush’ kind of decade to buy their vacation property? That fishing/hunting cabin in the woods, a ski chalet, a hillside farm house in Tuscany, beach front property in the Caribbean?

One thing is certain. Many trillions of dollars is about to be passed on, and that will drive certain markets, and most definitely real-estate, and more specifically, vacation property.

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