The 100 Trillion Dollar Wealth Transfer: How the Handover from Boomers to Gen Z Will Revolutionize Capitalism

by Ken Costa

An insider's look into how Generation Z's focus on ethics, climate change and purpose will change capitalism forever.

In the next ten years there will be an unprecedented wealth transfer from the so-called 'baby boomer' generation to the young. Never before will so much money – in housing, land, stocks and cash – be shifted so suddenly from one generation to the next, and never before does the next generation feel so differently about the future of the planet and of capitalism.

Ken Costa works with this new generation and shows how environmental concerns and anxiety about equality and diversity are more than mere slogans; instead they are driving the future of the markets. So many issues stem from the reality of the financial gap between age groups - from cancel culture and fears about wokeness, to generation rent, protest movements and re-evaluations of history around subjects such as empire. Costa also shows how we can build a more inclusive, purposeful capitalism, which shifts focus away from the individual and more towards collaboration, compassion and community.

For readers of Rebecca Henderson's Reimagining Capitalism , and Rutger Bregman's Utopia for Realists , as well as business leaders and tech watchers, this is what the future of capitalism looks like, how our current systems may be upended, and above all how boomers must work with the invigorating and inspiring young, who see their mission not just to increase value for shareholders, but also to save the planet.

Genres: Finance

256 pages, Hardcover

Published January 30, 2024

Reviews

[Phil · Rating 2 out of 5]

A boomer talks to other boomers about possibly learning how to work with younger generations. Nothing about money.

[A]

I’m still in the introduction- seriously I’m considering skipping the Gen X & Z and putting all funds into a Trust so they can’t throw it all away.
This go green rubbish should be well’n truely sorted by the time my grandchildren get their trust fund!
I appreciate the Go East subheading because just this week (4/25) a huge delegation of businesses went East 🤔 watch that space.
I understand the parents funding the children because I’m doing that, from low rents to child care all at my expense. The children have the appearance of success because they are all linked to my purse! 🙏🏻🙏🏻🙏🏻 praying there is an inheritance for the grandchildren because the children are already spending theirs.
Feminized finances- one daughter is running a huge company and gas run a number of them, yes she’s in her 30’s- there are no children- that’s the price! Women have always been great at finances, how do you think those small cooperations called Family ever survived. They managed the home and everybody in the family. Now we send them out to work and farm out the children for someone else to raise.

Did I say I’m still in the introduction 😄
Ok I’ve progress- chapter 1
I’ve just come across a silly young thing- ungrateful and shouldn’t be inheriting a cent - Marlene Engelhorn! OMG tax me now 🙄 why she couldn’t find actual people in need to help and become a humanitarian I’ll never understand. Stupid girl. I bet Fredrick is turning in his grave!!! The taxation system is fraudulent anyway.
Can you see why I’m hesitant to pass the inheritance on?
p42 and good olé Greta shows up 🙄 she’s on the Kl aus s wab payroll …. Follow that money trail. There’s your taxes! I think she’s been given the shove as irrelevant and possibly sent back to school as her role as an influencer has thankfully come to an end.
p43 p93 & you referenced Pope Francis. Theses people have all been exposed! You might need a fresh batch of influential people to site in your book.
Oh and the plandemic has also been exposed- interesting that you didn’t see that coming Ken 🤔
Crypto- only invest in gold backed crypto- the rest is play money… avoid bitcoin! Crypto isn’t an alternative to gold & silver, you invest in the ones backed by gold and silver! Gold went through the roof this week!
P57 finally something great 😂 Elon comparing the dollar and the Dogecoin … “about as real as that digecoin” FACT

P63 God bless Tucker Carlson from calling it like he saw it!
P64 I can’t see how Ukraine fits into your apology 🤔 as a money laundering operation are you saying the Ukrainian war was selfish? If so, yes you’re correct! So many countries government officials launder money through Ukraine . That’s about to come to an end!
Wow p67 mentions the QFS … I might stick around a bit longer.
P85 YEEESSS that b l m opposed the values I value!!!! TRUTH… FACT, just nobody with a 1/3 of a brain could see it. Reposting absolutely BS because everyone else is posting it 🙄 those b l m people did NOT care for lives at all! Let’s see what they throw out at us in another 50 years 😄 same same
P89 Zuck erberg has also been exposed!
P91 Mc donald ’s and Star Buck s have also been exposed.
P112 I’ve been waiting for it. Putin is the good guy. His truth are the facts. You’ve obviously swallowed the hashtag that’s been sent out by the money laundering world that shouts ru ssia ru Ussia Ru ssia so you look over here and not over there! You’ve been conned big time! You’re looking 👀 in the wrong direction. You should have heard the truth by now 4/25, think back to the soccer ball being handed over to Trump. You missed it BIG time buster. Why do you think they hate ru ssia so much 🤔 God bless Pu tin for what he’s done to protect people.
P113 Jordan Peterson is amazing!!
P114 you say TRUTH, but honey you wouldn’t know the truth if it hit you in the side of the head let along front in!

I’m not liking this book very much

P119 university are NOT bastions for truth… they spit out rhetoric of the day hoping it will stick and become the theme for the next generation 50 yrs from now…. Kids should not go straight to uni after school- they need a view that’s their own before entering the brainwashed sector- yes I went to uni!!! There’s no free speech unless you rabbit what they want you to say!!! Pass or fail


P120 climate changes had been debunked!!!
P131 “the science” wasn’t science at all!
P122 😂 the conspiracy theories 😂 turned out to be FACT 😂 😂 😂

P123 trust has evaporated- there is no more trust , especially in governments let alone the official who gets up in front of the mic at the same time everyday to sprout off updated false information. We’ve been burned!

I need a break!

[Joshan Ramnauth · Rating 3 out of 5]

The 100 Trillion Dollar Wealth Transfer: How the Handover from Boomers to Gen Z Will Revolutionize Capitalism

First of all; thank you for your compassion and perspective, Ken Costa. In this hyper-divided world we live in, it is hard to find seasoned veterans of industry advocating for our generation and calling us anything but "avocado-eating, essential-oil-sniffing sloughs."

It was indeed interesting in how the author treated such a wealth of experiences collected through years at the top of his field and complemented this with well-researched facts, anecdotes and research.

Where the book loses two stars, unfortunately, lies in Mr. Costa - perhaps inadvertently, in spite of his sincere advocacy for our youth's merits - succumbing to the familiar pitfall of simplifying our youth's argument.

To more poltically-inclined readers, the casual conflation of socialism (where many youth's conviction lies) and communism (a resolutely and demonstrably contemptible alternative to capitalism) into an undesirable leftist future will be a a bitter pill to swallow in the midst of a read that presents so much hope for young people like myself that we are indeed being heard (for everyone, in academia, communism advocates for full state control of resources and no market activity, whereas socialism advocates for a mixed economy with government intervention but not control - though I admit, in practice, those models have been perverted to gruesome effect). It felt like an excessively-convenient and overly-familiar way of making capitalism look good as opposed to diving into its merits and shortcomings.

Given how Zennials are embracing the platform-based sharing of assets (an arguably leftist virtue), As soon as the conflation of communism and socialism stood out to me, unfortunately, the book devolved into a sort of attempt at placation and a gentle attempt aiming to build Zennial sympathy towards Boomers - I really hoped it would be different, and indeed the way the book starts out gave me so much hope that it would be.

Once this conviction took hold, the book was far less engaging to me, but read I did, because Ken Costa's compassionate prose to describe Zennials remained seemingly sincere throughout - not just because he made the effort not to look down on us, but his conviction and ultimate message that we need to work together, nevertheless, rings true. Boldness alone is as fierce as fire, experience alone as reliable as steel; boldness tempered by experience may yet forge the sharp blade of progress.

The beginnings of the chapter about the Tech Fissure was an altogether familiar analysis of tech's impact on Zennials - the only thing wrong with this chapter is that many arguments about tech have been used as the stick to beat us Zennials with countless times. From there to the well-reasoned arguments like how much more good we can do in our togetherness through tech are basically what Zennials wish Boomers could understand about tech; well-done for pointing this out!

I will let you discover the core of what Ken Costa advocates for in the book for yourself, especially the value of CO, his thoughtconomic proposal for a better future where trans-generational collaboration paves the way to new heights. I'd rather not dillute it into any kind of blurb, and I shall content myself with saying it's definitely a worthwhile read.

All in all, this book is a sympathetic plea to return to our ability to progress by building good, old-fashioned consensus. I do find it laborious navigating the hyper-divided world that Ken Costa deplores and love people who can disagree with someone and still embrace them - that gift is as rare as unicorns nowadays. All in all, this is a great book on building a more equitable world and also if you seek guidance on how to manage the new generations... with all their ambitions, frustrations and values.

[Steve Brock · Rating 5 out of 5]

As Stevo’s Novel Ideas, I am a long-time book reviewer, member of the media, an Influencer, and a content provider. I received this book as a review copy from either the author, the publisher or a publicist. I have not been compensated for this recommendation. I have selected it as Stevo's Business Book of the Week for the week of 2/4, as it stands heads above other recently published books on this topic.

[Paul · Rating 4 out of 5]

I'm not sure how to review this, but it covers a lot of ground, and seems to have good data around the info presented. I'm sure most that pick this up will find value.

I really appreciate the free copy for review!!

[Kate Vane · Rating 2 out of 5]

See full review on my blog https://katevane.com/2023/10/27/book-...

[Josh Christie · Rating 2 out of 5]

2/5 - Not interesting at all for me.

[Ricky Linton · Rating 4 out of 5]

A very insightful and worthwhile read not just for those in the finance industry but it can be applied right across any leadership context

[Naser · Rating 2 out of 5]

Nothing new just stating the obvious didn’t learn much

[Nicholas · Rating 3 out of 5]

3.5 / 5 Stars
// Good

In many ways, this is a fascinating book.

Firstly, because the book's title has surprisingly little to do with what I expected to be its content.
And secondly, because the content you do get is surprisingly insightful.

Given the author's background in working in finance for many decades and the book's (sub)title, I expected a sort of solely economy-focused look on how the transition of wealth from the Boomer generation to Millennials and younger might shape future (capitalist) societies. In the end, though, the book foregoes this assumption for a vast majority of its length and predominantly talks about the socio-economic differences between these two generations, with a heavy emphasis on the 'sociological' part of the word.

What was positively surprising to me were the very accurate and yet critical, but fair observations that the author - a Boomer himself - documented, especially about the 'bad hand' that these younger generations were dealt. Although he sometimes repeats himself in his conclusions, what the author writes here is sharp and astute, matching my own personal experiences and observations as a Millennial who is facing the consequences of older generations' actions (or the lack thereof).

For a Boomer, the author is very well aware of the feelings that haunt the younger generations and is very apt at giving this magnitude of feelings a voice. So, although the book's emphasis is much less on the actual economic consequences of the eventual downpour of Boomer money but rather on the socio-economic status quo of the generations as it is, I had a hard time putting it down and felt very well understood.

The key takeaway here is: Both generations can learn from each other and should forego resentments, but rather communicate and collaborate. Although the book lacks the ultimate, concrete plan-of-action on how to do so, it still has more actionable takeaways and learnings than most other non-fiction books I've read recently.