The generational wealth gap refers to the difference in wealth accumulated between different generations. Despite being the largest group in the U.S. workforce, millennials are the least wealthy generation. This article explores the factors contributing to the generational wealth gap in Florida, including economic challenges faced by millennials such as the Great Recession and the recent COVID-19 pandemic. It also discusses the impact of the wealth gap on housing affordability, healthcare disparities, and economic opportunity in the state. The article concludes with steps individuals can take to address the wealth gap and the importance of estate planning in wealth preservation and transfer.
