words in block letters spell Wealth Transfer along with personal finance and beneficiary (Photo: Shutterstock)

Baby boomers, the wealthiest generation in history, are quickly aging. There are an estimated 73 million baby boomers in the US, making them the second-largest age group after their children (millennials), born between 1982 to 2000. By 2030, it is estimated that all boomers will be at least 65 years old. As a result, an estimated $68 trillion will be passed from boomers to millennials over the next three decades, making it the largest transfer of wealth in history.

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