Friday, November 30, 2007
The Enquirer - Boomer wealth may leave area: "Local baby boomers will soon leave billions to their kids, and a local foundation is worried those funds will follow a generation of young people out of Greater Cincinnati. As much as $169 billion is expected to shift from parents and grandparents in Hamilton, Adams, Brown, Butler, Clermont and Warren counties to younger relatives by 2055, according to a recent study on wealth transfer by the Rural Policy Research Institute's Center for Rural Entrepreneurship. That finding follows a national trend in which about $41 trillion is expected to change hands by 2052. That may be good news for a slacker kid waiting to get his hands on mommy's fortune, but not necessarily for this region, which is losing more 25-to-34-year-olds - a group that stands to inherit much of that cash - than it gains."