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November 16, 2020

The 68 Trillion Dollar Transfer of Wealth

31 minutes

The $68 trillion transfer of wealth in America is evaporating amid the economic crisis. The number is staggering but the wealth and private businesses accumulated by the Boomers is starting to show that it may not have the staying power to pass on to future generations. What does this mean to the future of the American Economy as we know it?

According to a survey by the Center for New Middle Class, there was a 25% drop in the number of baby boomers who said they are self-employed or own their own business in the second quarter.

That impact could have significant repercussions for the economy at large considering that baby boomers own nearly half of privately-held businesses with employees in the U.S., according to Project Equity.

That’s 2.34 million businesses with 24.7 million employees and $5.1 trillion in sales, according to the U.S. Census Bureau.

Hosts Zack Hayes and Phil Hayes break it all down in this week's episode of Pure Speculation. Follow us on Twitter @strugglestate

The 68 Trillion Dollar Transfer of Wealth

31 minutes

According to a survey by the Center for New Middle Class, there was a 25% drop in the number of baby boomers who said they are self-employed or own their own business in the second quarter.

That’s 2.34 million businesses with 24.7 million employees and $5.1 trillion in sales, according to the U.S. Census Bureau.

Hosts Zack Hayes and Phil Hayes break it all down in this week's episode of Pure Speculation. Follow us on Twitter @strugglestate

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