Generational Wealth Divide: Younger High Net Worth Americans May Reshape How Wealth Is Transferred to Future Generations According to New Schwab Survey
Schwab's new survey reveals a significant generational shift in wealth transfer preferences among high net worth Americans. The study of over 1,000 individuals with $1M+ in investable assets shows that 97% plan to transfer their wealth, with younger generations breaking from tradition.
Millennial and Gen X millionaires are twice as likely to share wealth during their lifetime compared to Boomer counterparts. On average, wealthy Americans plan to distribute $4.1M in assets, with 40% in real estate, 31% in investments, 18% in cash, and 11% in life insurance proceeds.
Notable findings include that 63% of wealthy Americans started planning wealth transfer before age 45, and 70% stipulate how their wealth should be used. Nearly all Millennials (97%) and Gen X (94%) include stipulations in their wealth transfer plans, compared to only 34% of Boomers.
Il nuovo sondaggio di Schwab rivela un significativo cambiamento generazionale nelle preferenze di trasferimento della ricchezza tra gli americani ad alto patrimonio netto. Lo studio, condotto su oltre 1.000 individui con oltre 1 milione di dollari in attivi investibili, mostra che il 97% intende trasferire la propria ricchezza, con le generazioni più giovani che si distaccano dalla tradizione.
I milionari Millennial e Gen X sono due volte più propensi a condividere la ricchezza durante la loro vita rispetto ai loro coetanei Boomer. In media, gli americani benestanti prevedono di distribuire 4,1 milioni di dollari in attivi, con il 40% in immobili, il 31% in investimenti, il 18% in contante e l'11% in proventi di assicurazione sulla vita.
Tra i risultati notevoli, il 63% degli americani benestanti ha iniziato a pianificare il trasferimento della ricchezza prima dei 45 anni, e il 70% stabilisce come la propria ricchezza dovrebbe essere utilizzata. Quasi tutti i Millennial (97%) e Gen X (94%) includono disposizioni nei loro piani di trasferimento della ricchezza, rispetto solo al 34% dei Boomer.
La nueva encuesta de Schwab revela un cambio generacional significativo en las preferencias de transferencia de riqueza entre los estadounidenses de alto patrimonio neto. El estudio de más de 1,000 individuos con más de $1M en activos invertibles muestra que el 97% planea transferir su riqueza, con las generaciones más jóvenes rompiendo con la tradición.
Los millonarios de la generación Millennial y Gen X son el doble de propensos a compartir riqueza durante su vida en comparación con sus contrapartes de la generación Boomer. En promedio, los estadounidenses adinerados planean distribuir $4.1M en activos, con un 40% en bienes raíces, un 31% en inversiones, un 18% en efectivo y un 11% en ingresos de seguros de vida.
Entre los hallazgos notables, el 63% de los estadounidenses adinerados comenzó a planificar la transferencia de riqueza antes de los 45 años, y el 70% estipula cómo debe utilizarse su riqueza. Casi todos los Millennials (97%) y Gen X (94%) incluyen estipulaciones en sus planes de transferencia de riqueza, en comparación con solo el 34% de los Boomers.
슈왑의 새로운 조사는 고액 자산 보유 미국인들 사이에서 부의 이전 선호에 있어 중요한 세대 간 변화를 보여줍니다. 100만 달러 이상의 투자 가능한 자산을 가진 1000명 이상의 개인을 대상으로 한 연구에 따르면, 97%가 자신의 재산을 이전할 계획이라고 합니다. 더 젊은 세대가 전통에서 벗어나고 있습니다.
밀레니얼 및 X세대 백만장자들은 베이비 부머보다 생존 기간 동안 부를 나눌 가능성이 두 배 더 높습니다. 평균적으로 부유한 미국인들은 410만 달러의 자산을 분배할 계획이며, 이중 40%는 부동산, 31%는 투자, 18%는 현금, 11%는 생명 보험 금액으로 나누어집니다.
주목할 만한 발견 중 하나는 63%의 부유한 미국인이 45세 이전에 자산 이전 계획을 시작했다는 것입니다. 또한 70%는 자신의 재산이 어떻게 사용되어야 하는지를 명시합니다. 거의 모든 밀레니얼(97%)과 X세대(94%)가 자산 이전 계획에 조건을 포함하고 있는 반면, 베이비 부머는 34%에 불과합니다.
Le nouveau sondage de Schwab révèle un changement générationnel significatif dans les préférences de transfert de richesse parmi les Américains fortunés. L'étude menée auprès de plus de 1 000 personnes disposant d'actifs investissables supérieurs à 1 million de dollars montre que 97 % prévoient de transférer leur richesse, les générations plus jeunes s'écartant des traditions.
Les millionnaires Millénium et Gen X sont deux fois plus susceptibles de partager leur richesse de leur vivant par rapport à leurs homologues Boomer. En moyenne, les Américains riches prévoient de distribuer 4,1 millions de dollars en actifs, dont 40 % en immobilier, 31 % en investissements, 18 % en liquide et 11 % en produits d'assurances-vie.
Parmi les résultats notables, 63 % des Américains riches ont commencé à planifier le transfert de leur richesse avant l'âge de 45 ans, et 70 % stipulent comment leur patrimoine doit être utilisé. Près de tous les Millennials (97 %) et Gen X (94 %) incluent des stipulations dans leurs plans de transfert de richesse, contre seulement 34 % des Boomers.
Die neue Umfrage von Schwab zeigt einen signifikanten generationsbedingten Wandel in den Präferenzen der Vermögensübertragung unter wohlhabenden Amerikanern. Die Studie von über 1.000 Personen mit über 1 Million Dollar investierbarem Vermögen zeigt, dass 97% planen, ihr Vermögen zu übertragen, während jüngere Generationen von der Tradition abweichen.
Millennial- und Gen-X-Millionäre sind doppelt so wahrscheinlich, ihr Vermögen zu Lebzeiten zu teilen, im Vergleich zu ihren Boomer-Pendants. Im Durchschnitt planen wohlhabende Amerikaner, 4,1 Millionen Dollar an Vermögenswerten zu verteilen, wobei 40% in Immobilien, 31% in Investitionen, 18% in Bargeld und 11% in Lebensversicherungsleistungen fließen.
Bemerkenswerte Erkenntnisse umfassen, dass 63% der wohlhabenden Amerikaner vor dem 45. Lebensjahr mit der Planung der Vermögensübertragung begonnen haben und 70% festlegen, wie ihr Vermögen verwendet werden soll. Fast alle Millennials (97%) und Gen X (94%) fügen ihren Plänen zur Vermögensübertragung Bedingungen hinzu, verglichen mit nur 34% der Boomer.
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Key Highlights:
- Millionaire Millennials and Gen X are more than twice as likely to prefer sharing their wealth with the next generation during their lifetime compared to millionaire Boomers.
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Three in five wealthy Americans who intend to pass on wealth say they started planning their wealth transfer before the age of 45, and more than half started planning once they had a net worth of at least
$1 million - Younger wealthy Americans are significantly more likely to stipulate how their wealth can be used by future generations.
Schwab’s survey shows that among wealthy Americans, defined as those with more than
Wealthy Millennials and Gen Xers are more than twice as likely to say they want to share their wealth with the next generation during their lives compared to millionaire Boomers, who are more likely to say they want to enjoy their money themselves during their lifetime. Younger wealthy Americans expect to distribute over twice as much of their wealth while alive compared to wealthy Boomers.
Overall, three in five (
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I want the next generation to enjoy my money while I’m still alive |
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I want to enjoy my money for myself while I’m still alive |
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I plan to distribute some portion of their wealth during my lifetime |
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I plan to distribute some portion of my wealth after my lifetime |
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“Schwab serves over a million multi-millionaires, and as they move from building wealth to preserving and passing it, we see an increasing need for specialized services and support around estate planning, wealth transfer, and legacy planning,” said Andrew D’Anna, Managing Director of Retail Client Experience at Charles Schwab. “According to our survey, younger Americans could be poised to reshape legacy planning and the future of how wealth is passed to the next generation. Understanding the changing dynamics underway, we are continually evolving and enhancing our services, such as increasing access to tax, trust, and estate planning specialists, creating self-serve digital experiences to help clients manage inheritance tasks, building out our planning and educational resources specific to this significant life event, and encouraging engagement and discourse across family members and generations.”
Wealth Distribution and Family Dialogue
On average, wealthy Americans who plan to pass their wealth estimate they will distribute about
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Three in five wealthy Americans (
Most wealthy Americans plan to distribute their wealth primarily across their spouse or partner, children, and charities, and most have communicated their plans with their beneficiaries, particularly their spouse (
According to wealthy Americans, the top reasons someone should create a plan are wealth and asset protection (
“It’s encouraging to see that a majority of wealthy Americans who plan to pass their wealth have started to formalize those plans and documents and communicate with their families,” said Susan Hirshman, Director of Wealth Management for Schwab Wealth Advisory and Schwab Center for Financial Research. “In addition to those foundational steps, we encourage families to ground discussions and planning around shared values and goals for wealth being transferred. These conversations can help heirs see themselves as wealth stewards, rather than just beneficiaries, and gain important perspective on the meaning of wealth, legacy, and the responsibilities that come with it.”
Legacy with Limits
Seventy percent of wealthy Americans who plan to pass on their fortune also use the wealth transfer process to stipulate how their wealth is used, such as setting an age at which the money can be accessed (
Nine in ten UHNW Americans stipulate how their wealth is used, and they often have stricter guidelines, such as requiring certain life milestones for distribution, mandating that funds be used for familial responsibilities, and maintaining career performance to access funds.
Younger wealthy Americans are more likely to provide their wealth with strings attached compared to older generations. Nearly all Millennials (
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Tying distributions to life milestones (e.g., graduation, purchasing first home, marriage, children) |
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Using funds for certain familial responsibilities (e.g., family reunion) |
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Making a charitable gift as a prerequisite to distribution |
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Maintaining certain career performance (e.g., distribution based on earned income) |
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Maintaining certain academic performance (e.g., minimum GPA) |
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“It’s common for those who have built their wealth over time to want to have a say and guide how those assets are used, with benefits and safeguards for future generations top of mind,” said Hirshman. “We often see wealthy families add stipulations to help protect and preserve assets for multiple generations, encourage self-driven financial responsibility, and uphold long-term family values. They’re really trying to ensure that the family wealth has a positive impact.”
See the detailed results from Schwab’s survey of HNW Americans here.
About Schwab’s High Net Worth Investor Survey
The online survey was conducted by Logica Research from August 8, 2024, to September 2, 2024, among a national sample of 1,005 wealthy Americans with
Disclosures
The information here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.
All expressions of opinion are subject to change without notice in reaction to shifting market, economic or geopolitical conditions.
About Charles Schwab
At Charles Schwab we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.
The Charles Schwab Corporation (NYSE: SCHW) is a leading provider of financial services, with 36.1 million active brokerage accounts, 5.4 million workplace plan participant accounts, 2.0 million banking accounts, and
More information is available at https://www.aboutschwab.com. Follow us on X, Facebook, YouTube and LinkedIn.
(1224-72Z1)
1 High net worth is defined as having more than
View source version on businesswire.com: https://www.businesswire.com/news/home/20241209249389/en/
Hibah Shariff
Charles Schwab
415-667-0507
hibah.shariff@schwab.com
Source: The Charles Schwab Corporation
FAQ
What percentage of wealthy Americans plan to transfer their wealth according to Schwab's survey?
How much wealth do high net worth Americans plan to distribute on average?
What percentage of Millennial and Gen X wealthy individuals include stipulations in their wealth transfer plans?
At what age do most wealthy Americans start planning their wealth transfer?
