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The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners
史上最大规模的财富转移正在发生，赢家依然是富人
An inter-generational transfer of wealth is in motion in America -- and it will dwarf any of the past.
一场代际财富转移正在美国发生，以往的任何一次与之相比都相形见绌。
Of the 73 million baby boomers, the youngest are turning 60. The oldest boomers are nearing 80.
在7300万婴儿潮一代人中，最年轻的快满60岁了。年龄最大的也接近80岁了。
Born in midcentury as U.S. birthrates surged in tandem with an enormous leap in prosperity after the Depression and World War II, boomers are now beginning to die in larger numbers, along with Americans over 80.
婴儿潮一代出生于二十世纪中叶，伴随着大萧条和二战后的巨大繁荣，美国出生率飙升。现在，许多婴儿潮一代以及80岁以上的美国人开始衰老去世。
Most will leave behind thousands of dollars, a home or not much at all.
大多数人会留下几千或几万美元、一套房子，或者寥寥无几的东西。
Others are leaving their heirs hundreds of thousands, or millions, or billions of dollars in various assets.
其他人则会给他们的继承人留下价值数十万、数百万或数十亿美元的各种资产。
In 1989, total family wealth in the United States was about $38 trillion, adjusted for inflation.
1989年，经通胀调整后的美国家庭财富总额约为38万亿美元。
By 2022, that wealth had more than tripled, reaching $140 trillion.
到2022年，这一财富增至三倍多，达到140万亿美元。
Of the $84 trillion projected to be passed down from older Americans to millennial and Gen X heirs through 2045, $16 trillion will be transferred within the next decade.
到2045年，预计将有84万亿美元从老年人那里传给千禧一代和X世代，其中16万亿美元将在未来十年内进行转移。
Heirs increasingly don’t need to wait for the passing of elders to directly benefit from family money, a result of the bursting popularity of “giving while living” -- including property purchases, repeated tax-free cash transfers of estate money, and more -- providing millions a head start.
越来越多的继承人不需要等到长辈去世后，才能直接从家庭财富中受益，这是“在世的时候就赠予遗产”突然流行的结果，其中包括购买房产、将遗产以现金形式进行多次赠予而不用交税等等，这将让数百万人赢在起跑线上。
It’s no longer “an oncoming phenomenon,” said Douglas Boneparth, a 38-year-old financial adviser whose New York firm caters to affluent millennials. “It’s present-day.”
38岁的财务顾问道格拉斯·伯恩帕思说，这不再是“一个即将到来的现象，这就是现在的情况”。他的公司位于纽约，为富裕的千禧一代提供服务。
And it’s already impacting the broader economy, greasing the wheels of social mobility for some and leaving obstacles for those left out as the cost of living, housing and raising families surge.
这一现象已经影响了更广泛的经济，为一些人的社会流动提供了润滑剂，并为其他落后的人带来障碍，因为生活、住房和养育成本在飙升。
The wealthiest 10 percent of households will be giving and receiving a majority of the riches.
最富有的10%的家庭将给出和接受大部分财富。
Within that range, the top 1 percent -- which holds about as much wealth as the bottom 90 percent, and is predominantly white -- will dictate the broadest share of the money flow.
在这个范围内，最富有的1%的人--他们拥有的财富与最底层的90%的人差不多，而且主要是白人--将决定资金流动中的最大份额。
The more diverse bottom 50 percent of households will account for only 8 percent of the transfers.
成分更多元的底层50%的家庭将只占财富转移的8%。
A key reason there are such large soon-to-be-inherited sums is the uneven way boomers superbly benefited from price growth in the financial and housing markets.
出现如此庞大的即将继承的巨额资金，其中一个关键原因是婴儿潮一代以并不平等的方式从金融和房地产市场的价格增长中获得了极大的好处。
The average price of a U.S. house has risen about 500 percent since 1983, when most baby boomers were in their 20s and 30s, prime years for household formation.
自1983年以来，美国房屋的平均价格上涨了约500%，当时大多数婴儿潮一代都在20多岁和30多岁，是组建家庭的黄金年龄段。
