The massive wealth transfer from baby boomers to younger generations could have significant impacts on both the economy and society. In terms of the economy, this transfer of wealth could lead to increased investment opportunities as younger generations inherit assets and funds that they may choose to invest in various sectors. This influx of capital could spur economic growth, create new businesses, and drive innovation. On the other hand, if a large portion of inherited wealth is not invested but rather saved or spent quickly, it could lead to inflationary pressures.
In society at large, this wealth transfer may exacerbate existing inequalities between different socio-economic groups. Those who inherit substantial amounts of money will have greater financial security and access to resources that can further enhance their opportunities for success. At the same time, those who do not receive significant inheritances may face challenges in building generational wealth or accessing similar opportunities.