Baby Boomer Asset Transfers Doesn't Mean Millennials are financially set

The New York Times ran an article, A Wealth Shift That Could Leave Some Younger Americans Behind,  The article discusses a significant wealth transfer that will occur as boomers reach the end of their lives, but notes some boomers and families do not fit that narrative.

Baby boomers have trillions of dollars in wealth that some economists predict will have a significant impact on their millennial-aged children when they inherit the cash, homes, stock portfolios and other assets their elders hold. But experts say that the narrative of millennials’ paying off debts and wielding greater spending power over the next two to three decades is complex — and leaves out families without enough assets to pass along.

In addition, there seems to be a lack of sharing of financial information between the generations which can lead to misconceptions, among other things. And there is always a chance that the boomer parent may need to pay for long term care for a length of time.  Yes there is going to be a significant wealth transfer as the boomers reach the end of their lives. But it is not going to be across the board; instead it will depend on the circumstances.