Chief Wealth Strategist Alvina Lo shares her insights with Family Wealth Report in this article reprint about how advisors need to get creative and understand more innovative wealth planning strategies when working with today’s “convenience” generation.Please see important disclosures at the end of the article.
Millennials have now surpassed the Baby Boomers as the nation’s largest demographic segment. At more than 83 million strong and comprising nearly one-third of the U.S. population, those born between 1980 and 2004 are redefining society in profound ways. And with more than $30 trillion passing to them through inheritance over the next 30 years, Millennial investors will likely use their wealth to reshape not just markets, but the world. Sources:U.S.
There are countless ways to launch the college planning process. Should you lead the way with in-person visits? What about conversations with admissions counselors? Do you gather the insights of alumni from a broad set of institutions? All these options are worthwhile, but a more foundational starting point for your high school-aged children is to investigate different areas of study that match his or her interests.