Millennials will pay taxes on the ‘Great Wealth Transfer’—and the cut is staggering. Here’s exactly how much they owe

Baby boomers are worth $93 trillion, and they’re ready to pass down inheritances. But where will that money go? It’s been called the greatest transfer of wealth in history: Baby boomers, now ages 62 to 80 (born between January 1, 1946, and December 31, 1964), are estimated to hold at least $93 trillion in assets and are sitting on more money than Gen X and millennials combined. Said another way, the entire GDP of the United States was about $31 trillion in 2025—boomers have three times that amount.