Millennials to get rich in next 20 years — here's how

Inheritance from previous generations is what will cause a shift in wealth
A representational image. — Freepik
A representational image. — Freepik

Millennials have been working to accomplish their dreams in America by working hard to get affordable housing, and transportation, and to build a reliable career.

According to CNN, in the next 20 years, the richest generation in history — Millennials — are expected to inherit around $90 trillion in assets.

The Fortune Report by international real estate adviser Knight Frank stated that the Silent Generation and Baby Boomers will most likely transfer control of their substantial fortune to Millennials in the US till 2044.

However, a lot of the time, birth order determines whether you, as a Millennial, will benefit from that wealth transfer or not.

In the end, inheritance from previous generations — which mostly consists of property but also includes other assets — is what has caused this shift in wealth.

According to a statement from Liam Bailey, global head of research at Knight Frank, it will result in "seismic" changes to how money is used.

Additionally, the study revealed that wealthy youth are less likely to view real estate or property as a means of accumulating wealth over time.