July 10, 2026
For years, the financial industry has discussed the coming "Great Wealth Transfer"—the idea that Baby Boomers will pass trillions of dollars to their children and grandchildren. Many have assumed that the next generation will receive a significant inheritance as wealth changes hands over the coming decades.
I was reading a recent Wall Street Journal article highlighting an interesting reality, While older Americans currently control approximately $110 trillion of wealth, much of that money may not transfer as quickly as many expected. Americans are living longer, and in many cases choosing to spend more during retirement. Others are helping their children and grandchildren while they are still alive rather than leaving one large inheritance later.
The Wall Street Journal described this as more of a "wealth trickle" than a "wealth transfer." Instead of one large transfer occurring after death, many families are providing financial assistance throughout retirement. Contributing toward college expenses, assisting with childcare costs, or supporting a family member during a difficult period, many retirees are choosing to see the impact of their generosity while they are still here to enjoy it.
In my opinion, this is a healthy trend.
Growing up on Long Island and now working with families throughout Rochester and Western New York, I've noticed that most people are not concerned with leaving behind the largest possible inheritance. What they care about is helping their families when help matters most.
A parent helping their child purchase a first home may have a greater impact on that family's future than an inheritance received twenty years later. The same can be said for helping fund a grandchild's education or providing support during a career transition. These are real-life examples of wealth creating opportunity in the present rather than simply being preserved for the future.
That said, there is another side to this conversation.
Many families are counting on an inheritance that may never arrive—or may arrive much later than expected. With people living well into their 80s and 90s, it is becoming increasingly common for heirs to receive an inheritance in their 60s rather than their 30s or 40s. This creates an important planning lesson: financial independence should never be built around the expectation of receiving an inheritance.
A sound financial plan should stand on its own. If an inheritance eventually becomes part of the picture, it should be viewed as an additional resource rather than a necessity.
For parents and grandparents, this highlights the importance of communication. If your goal is to help the next generation, it may be worth discussing whether that support is most impactful today or as part of your estate plan. There is no universal answer, but there should be a conversation.
I believe the most valuable thing a family can pass down is not necessarily money—it is preparation.
Preparation includes teaching financial responsibility, discussing family values, and ensuring estate plans reflect current wishes. Wealth can create opportunities, but only if the next generation is prepared to manage it wisely.
This is where generational wealth becomes important. A successful financial plan should not end with one generation—it should help prepare the next. Whether that means financial literacy, or helping heirs understand the responsibilities that come with inherited assets, these conversations are often more important than investments themselves.
Many families spend decades building wealth, yet very little time discussing how that wealth will be managed when the time comes. Many effective estate and wealth transfer plans involve trusted professionals and family members in appropriate conversations before important decisions need to be made.
A financial advisor can be more than someone who manages investments. For many families, they also serve as part of a broader planning team focused on long-term financial goals and wealth transfer considerations. As life changes occur, wealth moves between generations, or important financial decisions need to be made, having professionals who understand your family's financial picture can provide valuable perspective.
The Great Wealth Transfer is still coming. It simply may not look exactly the way many people expected. And when that time comes, having a thoughtful plan—and the right professionals involved—can help families navigate the transition and support the legacy they hope to leave behind.
Joseph Del Prete
Financial Advisor
E-Mail: jdelprete@brightonsecurities.com
Direct: 585.340.2228
The Great $110 Trillion Wealth Transfer Won’t Happen Any Time Soon - WSJ