{
  "id": 16013554,
  "title": "Gen Z and millennials expect to inherit $124 trillion—but retired boomers are ‘spending their kids’ inheritance’ to go on vacation instead",
  "url": "https://urgent.news/2026/10/22/gen-z-and-millennials-expect-to-inherit-124-trillion-but-retired",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-10-22T07:01:00.000Z",
  "source": {
    "name": "Fortune",
    "slug": "fortune",
    "url": "https://fortune.com/2026/10/22/gen-z-millennials-inherit-124-trillion-retired-boomers-spending-kids-inheritance-vacation-skiing-great-wealth-transfer/"
  },
  "original_language": "en",
  "account": "Millennial and Gen Z heirs are eagerly anticipating a $124 trillion \"Great Wealth Transfer\" as they inherit their parents' wealth—but their expectations may be dashed. According to new data, many baby boomers are splashing their cash on vacations instead of setting it aside for future generations. This phenomenon has been dubbed \"skiing,\" meaning \"spending the kids' inheritance.\" A report from Britain’s largest travel trade association, Abta, reveals that 82% of those over 65 took a holiday in the past year—up five percentage points from two years ago. Abta CEO Mark Tanzer attributes the increase to boomer’s increased cash reserves, paid-off mortgages, and pension contributions, making them \"cash rich.\" They are enjoying beach vacations and city breaks as they deem retirement as their time to enjoy their wealth. The trend isn't limited to Britain; a Northwestern Mutual survey of U.S. adults found that only 22% of baby boomers expect to leave an inheritance, with over half explicitly planning to not leave one.",
  "summary": "Retired boomers are Ski-ing—\"spending the kids’ inheritance.\" It will be a huge shock to millennial and Gen Z who expect a $124 trillion wealth transfer.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}