By 2050, Baby Boomers are set to pass on an estimated $224 billion each year in inheritances to Millennials and Gen Z [1]. And while our research shows Millennials and Gen Z feel confident about financial management, it also shows they spend money for today, pursue riskier investments, and most have below $79,999 in a superannuation balance despite believing they need $1 million to retire comfortably.
Learn how Australians across generations invest, spend and save with our Intergenerational Wealth Report.
[1] Baby Boomers to pass on $224b a year by 2050, Australian Financial Review, 7 December 2021