Wealth…no small potatoes!
This past week a friend of mine forwarded some information regarding a report on Wealth Transfer Analysis in Wisconsin. The overall publication was put out in 1999 by John Havens and Paul Schervish with Boston College. It is a pretty remarkable study and indicates that over the next 50 years there will be more than $41 trillion of US wealth transferred from the current generation to the next.
In Wisconsin estimates provide that there is about $543 billion in wealth with a projected 10 year wealth transfer of $105 billion. In Sawyer County the analysis indicates that current net worth is $1.93 billion (year 2000). Over the next 50 years the estimated inter-generational transfer of wealth will be $2.3 billion. When we look at the estimates for this decade the wealth transfer is estimated at $0.39 billion. No small potatoes!
The interesting part of this analysis is that if just 5% of the wealth could be captured into community endowments there would be nearly $20 million realized in this decade alone. Think of how that might translate into community betterment.
The entire report was prepared by the Rural Policy Research Institute, Nebraska Center and was commissioned and is supported by the Donor’s Forum of Wisconsin.
Don’t forget that this weekend is Fall Fest in Hayward with lots of arts, crafts, food, music and happenings going on, so come on up north and enjoy the beautiful fall colors. My guess is we are half-way into peak colors and the weather is always splendid.
Have a great weekend and….
Enjoy, Life is Good!
Gary A. Nathan
