53. Boomers Are About to Sell Everything (There Aren’t Enough Buyers)
A generational wealth transfer is unfolding now—but it’s not what you think. Baby boomers aren’t simply handing away all their wealth or spending it on assisted living, medical care, or vacations. Instead, for a savvy few, the $90 trillion baby boomer wealth transfer will be unlocked, even if you don’t have wealthy parents. Because here’s the truth—the baby boomers have to sell everything.
Over the next ten years, tens of millions of baby boomers will pass away. Many of them own businesses, real estate, or assets their heirs do not want, or don’t have any heirs at all. What happens when Generation X or millennials are given mom and dad’s house while struggling to pay off their student loans, car debt, and keep their own family afloat? Simple: they sell. What happens when mom and dad try to hand down the family business, but every family member refuses to take it over? It either gets sold or stops functioning.
So who will be there to buy the assets? There are more sellers than buyers, meaning you have the opportunity to pick up businesses, real estate, and other assets at a fraction of what they’d cost just a decade or so ago. Do you take the chance and claim your own version of the great wealth transfer, or do you ignore the opportunity and wish that you did a decade from now?
Insights from today’s episode:
- The baby boomer wealth transfer that will force them to sell trillions in assets
- Why cash-flowing baby boomer businesses are far cheaper to buy than you think
- What happens when tens of millions of boomers pass away over the next decade?
- How the real estate market could be “flooded” with inventory as heirs opt to sell
- Why millennials are way off on the “inheritance” they think they’re owed
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