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Millennials might be able to afford that avocado toast, after all. The generation born between 1981 and 1996 will soon be on the receiving end of a $30 trillion windfall as Baby Boomers begin to retire and pass down their wealth in an event appropriately dubbed The Great Wealth Transfer.
However, this massive transfer of wealth wont be without its complications as Millennials (who came of age during the financial disaster that was the 2008 Great Recession) are notoriously skeptical of financial institutions. In fact, younger millennials are putting more faith in Reddit and Elon Musk (Dogecoin anyone?!) than in financial advisors.
Banks and other financial institutions are clamoring to win the business and trust of a generation poised to inherit a tremendous amount of capital, and theyve had to re-write the playbook on marketing tactics to attract
Article source: https://m.bankingexchange.com/news-feed/item/8814-the-30-trillion-trust-fall-reaching-millennials-amid-the-great-wealth-transfer
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