Welcome to today’s deep dive into a topic that’s as thrilling as it is sobering. I’m Leland Baptist, and if you’ve ever felt like the financial world was a labyrinth designed to confuse more than enlighten, stick around—this one’s for you.

Today, we’re talking about the massive $68 trillion wealth transfer that’s quietly reshaping America’s economic landscape. Yes, trillion with a T. It’s an opportunity. It’s a warning. It’s a little bit terrifying. And by the end of this, you’ll see why it’s all of the above.

So grab a coffee (or something stronger), because this one’s going to make you think differently about how you engage with wealth, business, and the future.

What’s Happening: A Quick Snapshot of the Numbers

Let’s set the stage. Right now, as I’m writing this, we’re in the aftermath of Q4 2020—a year most of us will never forget (and not for the best reasons). But let’s rewind to earlier that year, when the data for this discussion started coming together.

According to CNBC, a $68 trillion wealth transfer is underway, largely driven by baby boomers. These folks, born between 1946 and 1964, are the bedrock of American business. They built it, shaped it, and—here’s the kicker—are now leaving it behind.

Baby Boomers and the Business Landscape

Here’s where it gets interesting (or alarming, depending on your perspective):

  • 8.3% of baby boomers are business owners.
  • Millennials, despite being nearly the same population size, lag behind at a meager 2% self-employment rate.
  • Gen Xers sit in the middle with 7.6% running their own show.

Why does this matter? Because these numbers tell us that the majority of businesses are owned by baby boomers—and they’re exiting the workforce in droves.

The Accelerated Timeline: COVID-19 as a Catalyst

Let’s address the elephant in the room: the pandemic.

For many baby boomer business owners, retirement or selling was always part of the plan. But COVID-19 hit fast-forward on that timeline. Businesses that might have been sold in a decade were suddenly on the chopping block. Owners were closing doors, filing bankruptcy, or reluctantly retiring earlier than expected.

And while that’s a tough pill to swallow, it creates a once-in-a-lifetime opportunity for people like you.

The $68 Trillion Wealth Transfer: What It Means for You and Your Future ILeland BaptistIBlogI

What This Means for Millennials and Gen X

If you’re a millennial or part of Gen X, here’s your moment.

Think about this:

  • These businesses aren’t disappearing because they’re bad businesses.
  • They’re up for grabs because life and circumstances happened to their owners.

This is where you step in. Baby boomers are the most significant holders of businesses and wealth. As they exit the stage, someone has to fill the void.

Why Millennials Are Missing the Mark

Let’s be real—millennials are great at many things:

  • Building personal brands
  • Freelancing
  • Creating side hustles that are as Instagram-worthy as they are profitable

But when it comes to owning and running businesses, the stats speak for themselves: 2%.

Why?

  • Many millennials see self-employment as synonymous with freelancing, not creating scalable enterprises.
  • The focus is often on the job of the moment rather than the business for the future.

Gen X: The Quiet Contender

Now, Gen Xers? They’ve got a foothold, with 7.6% self-employment. They’re less flashy than millennials but more established. They’re often juggling the demands of raising kids while trying to build something lasting.

But here’s the thing: even 7.6% isn’t enough to fill the gap baby boomers are leaving behind.

The Opportunity: Why This Wealth Transfer Matters

This isn’t just about businesses. It’s about the redistribution of $68 trillion in assets. That’s:

  • Stocks
  • Real estate
  • Investments
  • And yes, businesses

If you’ve ever thought about buying a business, now is the time to do it.

Why Buying Beats Starting from Scratch

Here’s a fun fact: Most successful entrepreneurs didn’t start their businesses. They bought them.

Let me break it down:

  • Buying an established business gives you a customer base, infrastructure, and proven revenue.
  • Starting a business from scratch? That’s a gamble. You’re building from zero and hoping the market cares.

What’s Driving This Wealth Transfer?

Several factors are at play:

  1. Aging Population: Baby boomers are retiring at an accelerated pace.
  2. Economic Shifts: COVID-19 revealed the fragility of self-employment for older business owners.
  3. Lack of Successors: Many business owners don’t have heirs or proteges interested in taking over.

Your Next Steps: How to Seize the Moment

Here’s the deal: opportunities like this don’t come around often. If you’re serious about building wealth, consider these steps:

1. Start Looking for Businesses to Buy

Not every business is a fit, but plenty of gems are out there. Look for:

  • Stable cash flow
  • Strong customer loyalty
  • Room for growth

2. Get Your Finances in Order

Buying a business isn’t free. You’ll need capital or access to financing. Start building that now.

3. Educate Yourself

Learn about mergers, acquisitions, and business valuation. Don’t let jargon intimidate you.

Why Asset Builders Club Is Here to Help

Here’s the shameless plug: At Asset Builders Club, we specialize in helping Gen X and baby boomers navigate these transitions. Whether you’re buying, selling, or scaling, we provide the tools and insights to make it happen.

Final Thoughts: The Clock Is Ticking

The $68 trillion wealth transfer isn’t just a headline. It’s a reality that’s unfolding right now. The question is, will you be ready?

You’ve got the numbers, the insights, and hopefully a new sense of urgency. This isn’t just about money; it’s about shaping your legacy and securing your future.

So what’s it going to be? Are you watching from the sidelines, or are you stepping into the game?

Your move.

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