Millennials, born between 1981 and 1996, will inherit an estimated $90 trillion in assets over the next 20 years and become the “richest generation in history,” according to a new wealth report by global consultancy Knight Frank.
The generational shift in wealth will come in the form of property and other equity-rich assets passed down from members of the silent generation, 1928-1945, and baby boomers, 1946-1964.
The report, to be released next week, says Millennials will still face a complex future with a difficult housing market, continuing inflation, and being sandwiched between paying for adult children and aging parents.