Wealth transfers occur later
LATEST Wealth transfers are happening later
Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, discussed how wealth transfers are occurring later due to increased life expectancy and declining fertility rates. She highlighted that individuals inheriting wealth are older and wealth managers must rethink wealth transfers and financial planning.
NOW PLAYING Must Think Of Wealth Transfers Differently: Zentner
Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, discussed on "Bloomberg Money" how wealth managers must rethink wealth transfers and financial planning due to increasing life expectancies. She highlighted that individuals in developed countries are living into their 90s and beyond, impacting traditional inheritance timelines and financial strategies. Zentner noted that this demographic shift requires adjustments to how wealth is managed and passed on, with potential for multiple financial chapters throughout an individual's life.
The increasing lifespan of individuals necessitates a fundamental shift in financial planning and wealth management strategies to accommodate longer retirements and evolving inheritance patterns.