The Carey Nieuwhof Leadership Podcast
CNLP 653 | Ken Costa on The 100 Trillion Dollar Wealth Transfer, When Millennials and Gen Z Inherit Unprecedented Money, and The Keys to Wealth For Beginning Investors
May 28, 2024
Global investment banker, financier, and philanthropist Ken Costa talks about the 100 trillion dollar wealth transfer to Millennial and Gen Z children, the impact on housing and technology, and the church's role. He discusses misconceptions about money, compound interest, and preparing for the wealth transfer.
57:31
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Quick takeaways
- $100 trillion wealth transfer from boomers to Gen X, millennials, and Gen Z will revolutionize capitalism.
- Importance of long-term planning, balanced investments, and charitable giving for financial literacy.
Deep dives
Generational Wealth Transfer: A $100 Trillion Revolution
Over the next 10 to 15 years, a massive wealth transfer of over $100 trillion from boomers to Gen X, millennials, and Gen Z is expected to revolutionize capitalism. This transfer includes $65 trillion in the US alone. Unlike traditional transfers, this transition is unprecedented due to factors like low interest rates and asset inflation. It not only involves wealth transfer but also power shifts. The incoming generations bring technological savvy, influence in social media, and a strong agenda for societal issues such as environmental care and racial equality.
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