Baby Boomers to Inherit $ Trillions

Stephen Tweed | March 12, 2013 | Newsroom
By Stephen Tweed We've heard for several years now about the trillions of dollars that members of the Baby Boom Generation will inherit.  However, we have not seen many actual numbers.This past Saturday, I was flying back to Louisville and picked up a copy of the Wall Street Journal, Weekend Edition in the airport news…

By Stephen Tweed

We’ve heard for several years now about the trillions of dollars that members of the Baby Boom Generation will inherit.  However, we have not seen many actual numbers.

This past Saturday, I was flying back to Louisville and picked up a copy of the Wall Street Journal, Weekend Edition in the airport news stand.  In the WSJ Money Magazine that was included in the newspaper, there was an article on this very issue with some hard numbers. Here’s what they said:

  • Baby Boomers are expected to inherit $7.6 trillion over their lifetimes
  • The annual GDP of China is $7.3 trillion.  
  • In 2011, there were nearly 14 million people with a net worth of $500,000 to $1 million.
  • There were nearly 9 million people with a net worth of $1 million to $5 million
  • There were about 1 million people with a net worth of $5 million or more

Who says people can’t afford to buy home care services?  We just need to find them.

The data also showed  the breakdown of the total portfolio of net worth for households aged 65 and older:

  • House – 33.1%
  • Stocks – 10.1%
  • Mutual Funds – 6%
  • Bonds – 2.4%
  • CDs – 2.3%
  • Bank Accounts – 4.4%
  • Other financial Assets – 6.1%
  • Business Assets – 18.3%
  • Retirement Funds – 9.4%
  • Other non-financial Assets – 7.9%

Source: Wall Street Journal.Money – March 9, 2013

What can you learn from looking at these numbers?  

These data suggest that high net worth households have a significant portion of their assets in their homes and in their own businesses.  That suggests that we should be looking at business owners as high potential candidates for home care services.  It also suggests that looking for business owners who have aging parents can be in a pathway to new clients.

How can you identify local business owners who might be candidates for home care services?
What types of businesses do you think these people own?

Give us your comments based on what you are seeing in your business.

Stephen Tweed
Stephen Tweed is among the top Thought Leaders in Home Care today. As an industry researcher, author, and executive coach, he has worked with owners and CEOs of companies in the top 5% of Home Care and is a frequent speaker at Home Care association conferences and corporate meetings across the US and Canada.

Related Posts

Shared Vision Can Change Your Life

August 21, 2025
This past week, I was in Fort Myers, FL leading an Executive Strategy Retreat for a wonderful family-owned Home Care company. We spent a full day using the storyboarding technique from the Walt Disney organization to stimulate creativity, make ideas visible, and craft a five-year vision for the company. We then dug into detail as we defined…

Corporate Culture in Home Care

August 7, 2025
I've been thinking a lot about Corporate Culture in Home Care For the past few weeks, I've been deeply immersed in the final preparation for the start of school. As you may have heard, I recently accepted a position as Adjunct Instructor of Corporate Culture in the Master of Arts in Communication and Business Leadership at High Point…

Appreciation and Recognition

July 31, 2025
This past Tuesday evening I was in Scottsdale, AZ for the annual CPAE Speaker Hall of Fame Awards, and the Cavett Award, presented by the National Speakers Association. This is the final formal banquet that brings to a grand finale the annual convention of NSA. The National Speakers Association is a society of experts who speak professionally. These are some of…