Having an excess of wealth doesn't appear to be all fun and games.
Wealthy baby boomers are stressed out right now, because many are finding it worrisome the thought of leaving their massive fortunes to their kids.
According to new research from Forbes, over 70% of high-net-worth investors are concerned about their heirs "using their inheritance wisely."
Michael Chudd, a Las Vegas-based wealth manager at global investment bank UBS who works with some of the firm's wealthiest clients, said, "Money means different things to different people in families, so it's really important to try to help the next generation understand what's important about money to you, and make sure that your heirs are potentially aware of that–and then potentially, respecting those boundaries."
According to estimates from the Cerulli Associates, a financial services research firm and consultancy, nearly $73 trillion is expected to pass to younger generations in the U.S over the next 20 years, while another $11.9 trillion will be given to charities.
About 42% of that money will come from high-net-worth and ultra-high-net-worth households–which make up just 1.5% of all households.
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