Reparations to Inheritance: America is on the verge of a huge Baby Boomer wealth transfer (WATCH)

0

Reparations to Inheritance: White America is on the verge of a huge Baby Boomer Wealth Transfer Attorney Antonio Moore and Political Commentator Yvette Carnell discuss the announcement by CNBC that nearly 68 trillion is set transfer from White baby boomers to their millennial children. The two also discuss the coming announcement former Vice President Joe Biden will likely run for President in 2020 and what it means for #ADOS . Lastly, they critique Ta-Nehesi Coates article published by the Atlantic “The Case for Reparations ”.

 

CNBC Here’s how to prepare your heirs for the $68 trillion ‘great wealth transfer’

We are entering the largest wealth transfer in history.

Over the next 25 years, according to a report from research firm Cerulli Associates, 45 million U.S. households will pass a mind-boggling $68 trillion to their children — the biggest generational wealth transfer ever.

Individual retirement accounts alone in the U.S. held more than $9 trillion in assets at the beginning of last year, according to the Investment Company Institute’s 2018 Investment Company Fact Book. To that point, many Americans are inheriting substantial wealth from their parents through IRAs. But mistakes in handling these accounts could result in needlessly losing much of this wealth to taxes. In order to increase the chances of a successful wealth transfer, it’s important to understand the proper steps to follow.

Also Check Out...

Meet A'Ron Burns, a 17-year-old high school student and entrepreneur from Omaha, Nebraska
17-Year-Old Black Teen Opens
Democracy is on the ballot this November. Your rights and freedoms cannot afford to sit this one out.
NAACP President: “Democracy Is On
second annual Cyber NYC Fellowship scholarship program for low-income and unemployed New Yorkers.
Cybersecurity Scholarship Program
They are offering the public a total of 10 percent actual equity in the business
The Black Bread Company Offering
Detroit native and U.S. gymnastics Hall of Famer Wendy Hilliard
Hall of Fame Gymnast Rising Up
 Dr. Calvin Mackie, founder of STEM Global Action and STEM NOLA, and Dillard University President Dr. Walter M. Kimbrough
Trailblazer Award Given To