The massive boomer wealth transfer will mostly benefit the already affluent, Visa report finds The so-called "great wealth transfer" — the passing of assets from the baby boomer generation to their heirs — will primarily advantage younger Americans who are already wealthy, according to a July 2026 report from Visa Business and Economic Insights. The report challenges earlier estimates that had projected the total value of the transfer as high as $124 trillion, highlighting significant adjustments that reduce the figure substantially. Visa chief economist Wayne Best explained that the inflated figures often cited in public discourse fail to account for critical deductions, such as liabilities, retirement expenses, charitable donations, and taxes. Boomer households, despite their substantial assets, carry considerable mortgage debt, which significantly reduces the net amount available for inheritance. The report estimates that the $93 trillion in assets held by baby boomers will shrink to approximately $36 trillion in inheritable wealth after these deductions. The report explicitly excludes the wealth of the top 1% of U.S. households, defined as those with assets exceeding $13 million, as their spending habits do not represent the broader population. This exclusion means that the average inheriting household is projected to receive around $515,000. However, the report notes that only $8 trillion of the $36 trillion in transfers will be spent, as most recipients are already affluent and are expected to save or invest the remaining funds. Visa economists estimate that this $8 trillion boost to consumer spending will increase average annual growth in consumer spending by approximately 0.1 percentage points, raising it to 2.1% over the next two decades.#visa #wayne_best #visa_business_and_economic_insights #baby_boomer #visa_chief_economist
