News
24
2021
$482 Billion To Transfer Generations In Pierce County Over Next 50 Years
According to the 2020 Pierce County Transfer of Wealth Study, current household net worth is $269 billion. This is the total value of assets in Pierce County –homes, businesses, investments. Over the next 10 years, $48.6 billion of those assets will be transferring from estates to the next generation. $482 billion is expected to transfer over the next 50 years.
As part of the 2021 South Sound Philanthropy Summit, GTCF published the Transfer of Wealth Report. Exploring the significant, intergenerational transfer of wealth taking place in Pierce County over the next several years, the report outlines how wealth is distributed across the region, where disparities exist, and the potential impact that could be made if even just 10% of the wealth transfer was invested back into the community.