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E2c The Future of Wealth Transfer: How Demographics Shape Inheritance Expectations in America
Short Description
The Great Wealth Transfer, projected to continue until 2045, represents a significant shift in wealth across generations in the United States. This study utilizes data from the 2021 National Financial Capability Study (NFCS) to investigate the demographics of individuals expecting an inheritance. Our findings reveal that about 31% of respondents expect to receive an inheritance of $10,000 or more, primarily among those aged 25-44. Women, white respondents, and individuals with higher educational attainment are strong predictors to expect an inheritance. Additionally, respondents with higher income levels and greater risk tolerance have higher odds of expecting inheritance. These results suggest wealth transfers predominantly occur in financially affluent families, often characterized by educational advantages and familial obligations. However, the study's implications suggest further research to explore the demographics of those inheriting larger financial amounts, providing a more comprehensive understanding of inheritance expectations.
Type of presentation
Accepted Oral Presentation