I call it the tsunami of stuff. It's cresting. There are a lot of baby boomers. America's over-65 population reached 55.8 million in 2020, and an additional 42.4 million are in the 55-64 age group. This adds up to nearly 100 million people who have amassed a large amount of possessions - stuff they bought, stuff they got from their own parents, stuff their kids stuck them with.
The more wealth one accumulates, the more fragile one can feel. What begins as a quest for freedom can morph into a fortress mentality. I have seen peers-brilliant, driven individuals-become distracted by the fear of losing what they have built. Instead of leaning into the adaptability that made them successful, they retreat behind walls, both literal and figurative.
I think the beautiful part about the 'Peak 35' is it puts us in a position that many generations haven't been in before. When you start to think about this Great Wealth Transfer, yes, assets have been transferred before, but never to the extent that we see it now and never as intentional as we've seen it now.