Posted: Feb 2, 2011 4:04 PM by Danielle Lerner
Updated: Feb 2, 2011 10:10 PM
A recent study is shedding new light on wealth in San Luis Obispo County.
The Transfer of Wealth report found the county's average household wealth is more than $420,000 and it puts the net worth of all households in the County at about $35 billion.
The San Luis Obispo Community Foundation released those findings Saturday. The study also says people in the county could receive as much as $62 billion over the next 50 years, thanks to the transfer of wealth from one generation to the next.
"It's raising awareness of how much local money there is and really challenging people to think about their communities and how they want to preserve and enhance the quality of life of their communities," said Barry VanderKelen of the SLO County Community Foundation.
The Foundation estimates if all county residents left 5 percent of their assets to the community, it would leave just more than $3 billion for future generations.
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