The world is on the brink of the most substantial wealth transfer in history, with the baby boomer generation poised to bequeath an astounding $84.4 trillion to Millennials and Gen Z. This monumental shift in wealth distribution signifies a transformative opportunity for the younger generation. The critical question is whether they will reinvent wealth principles and investment strategies or perpetuate the patterns of their predecessors.
In a recent Fortune article, billionaire investor Ray Dalio delves into the nuances of this “Great Wealth Transfer.” He highlights the intersection of this generational wealth shift with the government’s redistribution of wealth from the public to the private sector. This shift, facilitated by near-zero interest rates and quantitative easing, has left households and businesses financially robust but has also burdened the government with escalating debt. This monetary policy has contributed to a downgrade in the United States’ sovereign credit rating by major credit-rating firms like Fitch.
This scenario raises the question: Can Millennials and Gen Z redefine wealth principles and practices once the wealth transfer is complete, or has the older generation left an indelible mark on the financial landscape?
“The New Millionaire’s Playbook: 7 Keys to Unlock Freedom, Purpose, and Abundance” is a compelling book by seasoned investor and visionary Gordy Bal. It goes beyond being merely educational; it is a call to action. Bal challenges readers to reevaluate their relationship with wealth, thoughts, habits, and society. He encourages them to question longstanding systems, from education to finance to politics to medicine, which have divided and distracted society for generations. Bal asserts that the root cause of these issues is our collective state of consciousness, and he aims to inspire the next generation of change-makers to harness the ongoing wealth transfer to embrace wealth and freedom. He provides a modern roadmap for those seeking to create a significant shift in their lives and society, where wealth and freedom go hand in hand.
“The world is waiting for you, the new millionaire, the torchbearer of a new era. It is time to step into your power and be the catalyst for a better tomorrow. It’s time to play a new game together.”
As the CEO and Founder of CTR (Conscious Thought Revolution), an organization dedicated to reinvesting in disruptive technologies and fostering the evolution of human consciousness, Bal’s journey began with a realization. Despite achieving professional success in finance, he felt a profound sense of emptiness within the confines of the “old millionaire’s game.” His quest for self-discovery and transformation led him to a tribe that aligned with purpose and freedom. Together, they developed the “New Millionaire’s Playbook.”
Bal’s book enters the scene at a time when there’s a pressing need for a fresh perspective with the looming wealth transfer. The handling of the COVID-19 pandemic by both the government and the impact investing sector has accentuated the urgency for change. While millions faced financial hardships, the wealthy elite prospered, leading to growing wealth inequality and public discontent.
Bal’s book introduces groundbreaking concepts like “thought capital” and makes various topics accessible and actionable, spanning personal finance, manifestation, parenting, technology, crypto, meditation, consciousness hacking, and more. Released on August 8th, The New Millionaire’s Playbook offers a roadmap for embracing abundance and purpose, available on Amazon and in bookstores.
In essence, as the Great Wealth Transfer looms, Bal recognizes the responsibility that comes with the passing of immense wealth. It demands a redefinition of wealth creation, investing practices, and a departure from past shortcomings. The New Millionaire’s Playbook seeks to inspire younger generations to learn from mistakes, reject superficial solutions, and creatively reimagine the concept of wealth. These future investors have a unique opportunity to create a new paradigm, one that departs from the old millionaire’s game and aligns with the principles of The New Millionaire’s Playbook. To be part of this transformative movement, consider ordering the book or visiting the website.