by Jeremy A. Wechsler, Esq.
Investment Advisor Representative
[email protected]
There’s a massive wealth shift happening right before our eyes. According to Fortune, roughly $124 trillion is expected to transfer from older generations to their heirs over the next couple of decades—by far, the largest transfer of wealth in history. Will it be squandered? Handled the right way? Invested and used for furthering individual family legacies?
The so-called “Great Wealth Transfer” sounds exciting, but for many families it’s also a little daunting. Heirs don’t always understand the responsibilities that come from inheriting money. They’ll need to understand trusts, taxes, investments, and how to make sound decisions about spending, saving, and giving. I see some younger folks on the right track and armed with knowledge—but many have no idea what’s ahead. It’s crucial that parents, advisors, and planners educate the next generation.
Preparing the next generation isn’t just about talking dollars. It’s about sharing values and vision — what money means to your family, what it’s supposed to accomplish, and how you want it to impact the people and causes you care about. It’s about walking them through your estate plan and helping them feel comfortable with the structure you’ve put in place. It’s about building their financial confidence early, before the money ever moves, so they can make decisions with clarity instead of fear. And above all, it’s about communication. The best family legacies don’t start after someone passes—they start with open conversations while everyone’s here to participate.
To help kick off those conversations, Franklin Retirement Solutions will be hosting a Next Generation Webinar in mid-November designed specifically for the kids and loved ones of our clients. It’s a one-hour session where we’ll talk through what’s coming down the pike, how they can start building their own financial foundation, and how to prepare for future inheritances with confidence and awareness.
The webinar is free, informative, and a great way to bridge the gap between generations. Look out for more information and registration information in another email!