Perspective

Best practices for navigating the Decade of Generational Wealth

How baby boomers and their families can have proactive conversations about their generational transitions.

By: Fidelity Investments
Updated: 3/15/2024
Key Takeaways
  • If you are a baby boomer, the Decade of Generational Wealth (2020–2030) may carry you and your multi-generational family into unfamiliar territory.
  • In compounding ways, boomer families will face challenging late-in-life topics like change of control over financial decision-making, long-term and end-of-life care, transparency around planning and wealth, and multi-generational engagement.
  • For you and your family, the coming transitions will involve life-stage conversations you have never had before. And, due to the potential uncomfortable and uncertain nature of these topics, you may be putting off initiating these conversations.
  • To help families and financial advisors navigate the coming decade, we conducted research about what baby boomer families face now and in the future. This information can help you understand the major themes of your generation’s wealth experience and identify the transition topics that will arise. It can also help you initiate proactive conversations.
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