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Opinion

The greatest wealth transfer in history

Brian Gaynor
Sat, 17 Jul 2021

NZ is one of only 12 OECD countries, out of 36, that doesn’t have an inheritance, estate or gift tax. (Image: Deposit Photos)
Brian Gaynor
Sat, 17 Jul 2021
The greatest wealth transfer in history – from baby boomers to younger generations – has begun. This massive wealth transfer will have an enormous impact on investment trends, the financial sector and the global economy in the decades ahead.According to the United States Federal Reserve Board, the 70 years and above age group has US$35 trillion (NZ$50 trillion) worth of wealth compared with only US$4 trillion held by this age group thirty years ago.This US$35 trillion, which represents just over 150% of annual US GDP, is expected to...

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