| Knox
County Transfer of Wealth Graph
Nebraska
Transfer of Wealth Graph
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Nebraska
Wealth Transfer
A recent study by Boston College projects that over the next 50 years
$41 trillion of American wealth will transfer from the current
generation to the next generation.
The Nebraska Community Foundation estimates that in Nebraska the
wealth transfer will be $258 billion or roughly $5.2 billion annually
(on average). For Rural
Nebraska, NCF estimates that the wealth transfer will run $94 billion or
nearly $1.9 billion each year (on average).
| Over
the next 50 years: |
$258
billion |
| Annually
per year: |
$5.2
billion |
Knox
County Population
The County's 2000 population is 9,374; down from 9,534 in 1990 or
-1.7%. Comparatively, Nebraska's state population increased by
+8.4% during the same period.
Knox
County Wealth Transfer
Over the first half of the 21st Century, Knox County will
experience $1.1 billion in wealth transfer from the current to the next
generation (or roughly $21.3 million annually on average). This
graph
illustrates our best estimate of the timing of this wealth transfer.
Because of the loss of local heirs, inadequate estate planning,
and the greater probability of giving to outside versus local charities
– much of this wealth will permanently leave the County.
| Over
the next 50 years: |
$1.1
billion |
| Annually
per year: |
$21.3 million |
Impact
Over just the next five years (using annual averages), an estimated $107 million will transfer. If
just five percent were gifted to locally, an endowment(s) of $5.3
million could be built. Assuming a conservative 5% annual payout (allowing the
endowment to grow), $267,000 would be available each and every year for
community betterment investments.
Income
Profile
The following chart illustrates Knox County’s current income
profile relative to Nebraska. Overall,
Knox County has more lower income households, about the same percentage
of middle income
households than Nebraska, and less than one-half as many upper income
households. However, this data underestimates the overall wealth
based in the County. See next section.
| |
Knox
County |
Nebraska |
| Low
Income |
43% |
26.6% |
| Middle
Income |
45% |
46.4% |
| Upper
Income |
12% |
27.1% |
Wealth
in Land
The story goes that in Rural Nebraska we are land rich and cash poor.
This is not the case in Knox County. In fact, in Knox County, over
39% of the County's wealth is
connected to property such as farm/ranch land, commercial real estates,
and homes ($412 million).
| |
Relative
to Nebraska |
| Population
Share |
.55% |
| Land
Value Share |
.55% |
Older
Like most of Rural Nebraska, Knox County’s population is older when
compared to State as the following chart illustrates.
| |
Knox
County |
Nebraska |
| 65 &
Older |
23.1% |
13.4% |
| 75 &
Older |
12.8% |
6.7% |
|
