00:00There's a phrase floating around on the internet right now called the eldest daughter economy.
00:04Explain to me what that is and why we're hearing about it in this moment.
00:07Because of the great wealth transfer. The roughly 100 or 125 trillion dollars of money that's
00:14transferring from the two generations that own it today, the silent generation and baby boomers,
00:19into the next three generations. This is going to change society as this money moves. That money
00:26moving is a familial phenomenon. What's happening is caregiving among those elder two generations
00:35and money moving and the values associated with it. The family is having a very real discussion
00:41about what does this all mean for us. And so the elder daughter phenomenon has to do with caregiving
00:47and often has to do with becoming the executor on an estate, for example, making decisions that
00:54extend across this family for more members of the family and recognize that that elder daughter
01:02might have been playing that role for a long, long time. And now it's becoming more poignant
01:09and more pointed because it relates to life milestones and relates to the money.
