Average Inheritance in America: By Age, Generation & Net Worth (2026)
By Wealthvieu · Updated
Inheritance plays a growing role in American wealth. With the Baby Boomer generation holding $78+ trillion in assets, the “Great Wealth Transfer” is well underway. Here’s what the data shows about who inherits, how much, and when.
Table of Contents
Average and Median Inheritance
Measure
Amount
Average (mean) inheritance
$46,200
Median inheritance
$19,000 – $22,000
Average among those who inherit
$46,200
% of households that inherit
~20-25%
The large gap between mean and median shows that a small number of very large inheritances skew the average significantly.
Inheritance by Amount
Inheritance Range
% of Inheritances
Cumulative
Under $10,000
30%
30%
$10,000 – $49,999
25%
55%
$50,000 – $99,999
15%
70%
$100,000 – $249,999
14%
84%
$250,000 – $499,999
8%
92%
$500,000 – $999,999
5%
97%
$1,000,000+
3%
100%
Half of all inheritances are under $50,000. Only 3% exceed $1 million.
Average Inheritance by Generation
Generation
Birth Years
Average Inheritance
Median Inheritance
Avg. Age at Inheritance
Silent Generation
1928-1945
$32,000
$14,000
45-55
Baby Boomers
1946-1964
$52,000
$22,000
50-60
Generation X
1965-1980
$55,000
$25,000
45-55
Millennials
1981-1996
$36,000
$16,000
30-40
Gen Z
1997-2012
$18,000*
$8,000*
Under 30
*Gen Z inheritances are early and partial — many more transfers will come later.
Average Inheritance by Age Received
Age at Inheritance
Average Amount
Median Amount
% of Total Inheritances
Under 35
$22,000
$10,000
18%
35 – 45
$38,000
$17,000
22%
46 – 55
$56,000
$25,000
28%
56 – 65
$62,000
$28,000
20%
Over 65
$48,000
$20,000
12%
Peak inheritance size occurs between ages 46-65, when parents are typically in their 70s-80s.
Inheritance by Net Worth of Recipient
Recipient Net Worth
Average Inheritance
% Who Inherit
Bottom 20% (under $10K)
$8,500
8%
20th-40th percentile
$14,200
14%
40th-60th percentile
$28,000
20%
60th-80th percentile
$52,000
28%
80th-90th percentile
$78,000
36%
Top 10% ($1.2M+)
$180,000
40%
Wealthier families are far more likely to receive inheritances — and receive larger ones.
Inheritance by Race/Ethnicity
Race/Ethnicity
% Who Receive Inheritance
Average Amount
Median Amount
White
26%
$52,000
$24,000
Black
10%
$22,000
$10,000
Hispanic
7%
$18,000
$8,000
Asian
15%
$42,000
$18,000
Other
12%
$30,000
$14,000
The racial inheritance gap reflects and compounds the broader wealth gap. White families are 2-3x more likely to inherit and receive 2-3x more.
What People Inherit
Inherited Asset
% of Inheritances
Average Value
Cash/savings
75%
$28,000
Real estate
30%
$180,000
Investment accounts
25%
$85,000
Retirement accounts (IRA/401k)
20%
$120,000
Life insurance proceeds
35%
$52,000
Business interests
5%
$250,000
Personal property
40%
$8,000
Many inheritances include multiple asset types. Real estate and retirement accounts often make up the largest single assets.
The Great Wealth Transfer
Baby Boomers hold roughly $78 trillion in assets, triggering the largest intergenerational wealth transfer in history:
Decade
Estimated Transfer
Primary Recipients
2020-2030
$15 trillion
Gen X, older Millennials
2030-2040
$25 trillion
Gen X, Millennials
2040-2050
$25 trillion
Millennials, Gen Z
2050-2060
$13 trillion
Gen Z, Gen Alpha
Total
$78 trillion
Inheritance vs. Self-Made Wealth
Source of Wealth
% of Household Net Worth
Self-made (earnings, savings, investments)
~75-80%
Inherited wealth
~15-20%
Gifts (inter vivos transfers)
~5%
Despite the Great Wealth Transfer narrative, most American wealth is still self-made. However, inheritance significantly speeds up wealth building, especially for homeownership.
Impact of Inheritance on Net Worth
Scenario
Net Worth at 55 (no inheritance)
Net Worth at 55 (with $50K inheritance at 40)
Difference
Low saver
$80,000
$145,000
+$65,000
Average saver
$250,000
$330,000
+$80,000
High saver
$800,000
$895,000
+$95,000
Assumes inheritance invested at 7% return for 15 years ($50,000 → $95,000+).
Estate & Inheritance Tax Thresholds
Tax
2025 Threshold
Rate
Who Pays
Federal estate tax
$13.99 million per person ($27.98M couple)
18-40%
Top ~0.1% of estates
State estate tax
$1M – $12.06M (varies by state)
0.8-20%
12 states + DC
State inheritance tax
Varies
0-18%
6 states (IA, KY, MD, NE, NJ, PA)
States with Estate or Inheritance Taxes
State
Tax Type
Exemption
Connecticut
Estate
$13.99M
Hawaii
Estate
$5.49M
Illinois
Estate
$4M
Maine
Estate
$6.8M
Maryland
Both
$5M (estate); varies (inheritance)
Massachusetts
Estate
$2M
Minnesota
Estate
$3M
New York
Estate
$6.94M
Oregon
Estate
$1M
Rhode Island
Estate
$1.77M
Vermont
Estate
$5M
Washington
Estate
$2.193M
DC
Estate
$4.71M
Iowa
Inheritance
Class-based
Kentucky
Inheritance
Class-based
Nebraska
Inheritance
Class-based
New Jersey
Inheritance
Class-based
Pennsylvania
Inheritance
Class-based
How to Plan for an Inheritance
If You’re Expecting to Inherit
Action
Why
Don’t count on it
Parents may need funds for long-term care ($100K+/year)
Have a conversation
Discuss estate plans openly to avoid surprises
Understand tax rules
Inherited IRAs must be emptied within 10 years (SECURE Act)
Know the step-up basis
Inherited assets get a stepped-up cost basis (no capital gains on appreciation during parent’s life)
Plan before receiving
Have an investment plan ready to avoid emotional spending
If You Receive an Inheritance
Step
Action
1
Park it in a high-yield savings account — don’t rush
2
Pay off high-interest debt (credit cards, personal loans)
