Millennials are poised to be the wealthiest generation in history, but are they ready to handle the large inflow of money?
A vast $90 trillion wealth transfer over the next 20 years will likely make millennials "the richest generation in history," according to estimates from global real estate consultancy Knight Frank.
"The millennials are very ill prepared … they're not as well prepared as the wealth creating generation," Salvatore Buscemi, co-founder and managing partner of multi-family office Brahmin Partners told CNBC.
"They don't have the skill sets earlier on to be able to do that because they never had to - they were never pushed," he said.
"And the problem is - are they going to be motivated later in life to push themselves to acquire these skill sets?"
Persons:
Knight Frank, —, Salvatore Buscemi, Buscemi
Organizations:
Partners, CNBC