The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners
In an era of surging home and stock values, U.S. family wealth has soared. The trillions of dollars going to heirs will largely reinforce inequality.
Leland Presley, a 53-year-old baker at a Publix supermarket in Helena, Ala., also has a prospective inheritance: the modest house he shares with his mother, Glenda, born in 1946, which was paid off before his father died seven years ago.
Still, he constantly asks himself, “Am I going to have enough money?”
He has no children, but he feels stretched making $20 an hour, having started out at Publix at $13 an hour in 2013. He is holding tight to his estimated $190,000 in retirement savings and living modestly, hoping to increase it.