For years, Americans have heard about the Great Wealth Transfer, the enormous amount of money baby boomers are expected to pass down as they die. But when one person recently asked Reddit whether something major will happen to the economy once that wealth reaches millennials, many commenters had a much less optimistic prediction.
“It won’t go to millennials,” one person wrote. “It’ll go to healthcare and private equity.” Another put it more colorfully: “If half of it hasn’t been spent on Winnebagos and cruises.”
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