Derf's Grotto

[fung_derf]

I have my doubts about the quote below. Most money will be lost in Indian casinos and on penny stocks.

I read an interesting headline recently: “A huge wealth transfer means millennials are poised to become ‘the richest generation in history’”.

“It found that, over the next 20 years, the so-called silent generation — those typically born from 1928 to 1945 — and baby boomers — born between 1946 and 1964 — will “hand over the reins” to those born from 1981 to 1996 when they pass on their property- and equity-rich assets.

In the U.S. alone, Knight Frank said the shift would see $90 trillion of assets move between generations, “making affluent millennials the richest generation in history.”