- \n
- \nMillionaire 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.<\/p>\n<\/li>\n
- \nThree 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.<\/p>\n<\/li>\n
- \nYounger wealthy Americans are significantly more likely to stipulate how their wealth can be used by future generations.<\/p>\n<\/li>\n<\/ul>\n
WESTLAKE, Texas–(BUSINESS WIRE<\/a>)–
\nA generational shift is emerging among wealthy Americans planning to pass their wealth, according to Schwab\u2019s new survey of more than 1,000 high net worth1<\/sup> (HNW) Americans, as younger wealthy Americans break from tradition by opting to transfer their wealth during their lives, rather than waiting until after death. They\u2019re also planning a more prescriptive approach to how their wealth is used.<\/p>\n\nSchwab\u2019s survey shows that among wealthy Americans, defined as those with more than $1 million in investable assets, 97% plan to transfer their wealth, with 36% preferring that the next generation enjoy their wealth while they\u2019re still living and 39% preferring to preserve their money for the next generation until after they pass away.<\/p>\n
\nWealthy 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.<\/p>\n
\nOverall, three in five (61%) wealthy Americans say that passing at least some of their wealth during their lifetime is important because they can help provide financial support and assistance to their beneficiaries (46%), share in their joy, and make memories together (36%). Most wealthy Americans anticipate a mix of both approaches, with plans to distribute about 40% of their assets during their lives and leave the remainder to pass after death.<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20241209249389\/en\/372488\/3\/SCHW_logo-new_whitespace.jpg\"){kind=logo}
<\/td>\n<\/tr>\n