Millennials, Boomers And The Great Wealth Transfer
Saddled with student loan debt, millennials are having a hard time saving up for a down payment on a home, let alone retirement.
But there may be help coming from their baby boomer parents, who hold 80 percent of American household wealth and are poised to pass on an estimated $30 trillion. Sensing an opportunity, financial planners are looking for new ways to connect with this younger generation. When U.S. News & World Report needed experts to weigh in on the trend, we connected a reporter with Michaeline Gordon, an attorney at Taylor Johnson client Ginsberg Jacobs LLC. In the piece, Gordon explains that while Gen Y’s tech-first mentality has fueled an explosion in digital robo-advisory tools, only good old-fashioned human interaction can provide the insights many millennials seek when navigating major life events.