'The great inheritance': How generational wealth transfer might affect young workers

Baby boomers are poised to pass down $16 trillion in the next decade and $84 trillion through 2045. That financial cushion could influence millennial and Gen Z workers' choices, according to management consulting firm Korn Ferry

Younger workers are more likely to quit and less enthusiastic about in-office labor than their older counterparts, Korn Ferry reports. They also find it more important to take jobs for the betterment of society.

Some of these habits could be attributed to the wealth young workers know is coming, Korn Ferry believes. If money is not a major concern, they may be more likely to take jobs that prioritize their values. 

However, those trillions in inheritance are not going to be passed down equally — the bottom 50 percent of households will only account for 8 percent of wealth transfers, with the wealthiest 10 percent receiving the majority. Even this notion that wealth is unattainable for some could shift young workers' career priorities. 

"If you think you won't be a millionaire, or own a house, or need to buy a car, then the type of role you go after is going to shift," said Andy Holmes, Korn Ferry associate client partner. 

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