Wealthy millennials surpass their predecessors in wealth. Heredity also plays a role

The average lover at the age of 35 owned ten percent more property than baby boomers at the same age. Ten percent of the richest actually fell in love with a fifth of the number, not comparable to the descendants of the generation born after the wolf world, according to a study prepared by the American CNBC.

Millennials are so different from each other that it makes no sense to talk about their average characteristics, wrote the authors of the study Rob Gruijters, Zachary Van Winkle and Anette Eva Fasangov. There are millennials who have a very long time, while others encounter problems. We think of Mark Zuckerberg and Sam Altman.

The study found that millennials, who today define themselves as people between the ages of 28 and 43, repeatedly encounter financial problems. Grow up in the time of the financial crisis, many of them own a house, have debts rather than assets, receive low salaries, have unstable employment and start families in it.

Autoi also states that ten percent of the richest lovers profited from their rewards for skilled work. Incomes for high-prestige jobs increased, while wages for low-status jobs stagnated or declined.

Millennials who graduated from university, found work at the level of a graduate and started families relatively late ended up with the same wealth as you, not baby boomers with similar life trajectories.

Great wealth transfer

The second essential pin of such great wealth was the love of poetry. It is estimated that, in order to transfer wealth, the baby boomers gave away their wealth worth 70 and 90 billion dollars, i.e. 2.1 trillion crowns, in twenty-five years. A large percentage of this should go to their children.

Companies dealing with asset management claim that the value of this wealth has begun to trickle down to the next generation. The great wealth transfer we’ve been talking about for the past decade is well underway, said John Mathews, editor of UBS’s Private Wealth Management division. The average age of the world’s billionaires is now 69 years. Then this entire infantry or advance wealth will begin to accelerate.

The tension between the two lovers will probably increase in five years, as he will come to the realization of the loss of property. Manifestations of wealth on social media by lovers’ non-babes could contribute to an intragenerational weekly struggle, and poor lovers to excessive spending or creating a wall of ostentatious lifestyles in order to keep up with them.

A survey by Wells Fargo found that a third of wealthy lovers, defined as people with assets from 250 thousand to more than 1 million dollars (5.8 and 23.4 million crowns), sometimes buy things that they cannot afford to give impression on others Just 41 percent of wealthy lovers finance their lifestyle with credit cards or loans, compared to 28 percent of Gen Xers and 6 percent of Baby Boomers.

The fight between the rich lovers and the others will shape their attitude towards wealth. More than a thousand years ago, the majority of the millions and billions in America were self-made people, including entrepreneurs.

A study by the Fidelity Investments company found that 88 percent of American millionaires are first self-made, that is, those who became rich and wealthy with their own money, especially if they started life without money, remote or high social status.

Yet one day wealth could become commonplace. A study by the UBS company found that among the new billionaires in the last year, the heirs who increased their wealth, for the first time in the last nine years, accumulated more wealth than the billionaires who created it themselves.

Wealth means guilt

The increase in the wealth of the first heirs thus creates a new lucrative market for property management companies, luxury companies, travel agencies and real estate agencies.

Clayton Orrigo, one of the best luxury real estate brokers in Manhattan, has built a thriving business on wealthy lovers. He sold real estate for less than a billion dollars (93 billion crowns) and regularly used funds in stores for less than ten million dollars.

According to him, the vast majority of his business has recently come from buyers in their 20s and 30s who have increased their wealth.

I first sold an apartment for sixteen million dollars (374 million crowns) to someone in his twenties, said CNBC. The wealth behind these children is extreme.

Zddn wealth became Orrig’s specialty. to that he works to build relationships with family offices, family Swedish funds and the elite of rich young people who hang out in New York’s high-end clubs, such as the exclusive private club Casa Cipriani in another part of Manhattan.

The business formula is simple. In a few years, they will want to buy a two-room apartment from him for five or ten million dollars (117 or 234 million crowns) in a new building in the city center. My work involves very quiet and discreet cooperation with the richest families in the world, concluded Orrigo.