According to a recent survey, 55 percent of the millennial millionaires plan to sell stock in 2022 due to potential tax changes. CNBC Millionaire Survey.

According to the poll, ninety percent (90%) of the millennial millionaires anticipate taking action to improve their financial situation in the coming year due to potential tax changes. The survey was conducted among investors who have investable assets greater than $1 million, but not primary residences.

This is a vastly different result from those of older generations millionaires who were questioned in the poll. When compared, Gen X millionaires accounted for 54%, 38%, and 29%, respectively, of those born in the World War II and baby boomer generations.

The survey also found that millennials are more likely than those of older millionaires (35%) to declare they will alter their estate plans, sell property (26%), or give large gifts and donations (23%), for tax reasons. Only 23 percent of respondents indicated that they might sell other assets than stocks or real estate to help with tax planning.

While President Joe Biden’s Build Back Better Act contemplates significant changes to the tax code, the House version that passed in November pulled back on some of the tax movesThis could have major financial implications. The bill was not passed by the Senate Democrats before the year ended. The possibility of tax changes that would reduce the annual deficit and cover costs associated with new programs is possible. However, the bill could not be passed in the Senate next year. legislative outlook remains uncertain into 2022.

In the United States, this was the year of a record number of market debuts. with 416 IPOs raising around $156 billionPrivate funding continues to flow, supporting higher valuations.

Eighty-three per cent of the millennial millionaires claimed to own cryptocurrency, while more than half (53%) said so. having at least 50% of their wealth in crypto.

Elon Musk had to deal with the challenges that came from having such a large investment in Tesla. selling a total of $9.85 billion in Tesla stock in November.

DuQuesnay stated that they are now a little older and may be realizing they would like to do more with their gains. I think that it is not necessarily about the risk tolerance of millions, but rather how the millennials made their wealth.

DuQuesnay stated that older generations are more likely to have a better portfolio than they need and that any changes would not be necessary.

She stated that “if you contrast the typical portfolio of a millennial millionaire to the typical portfolio of a baby boomer billionaire, then the baby boomers have, for most part, saved and invested their portfolios and diversified them already.” They don’t necessarily have to change, but it is just continuing on the same plan.

However, many millionaires of the millennial generation are now planning their financial strategy after leaving stock companies or working for a start up that’s going public.

duQuesnay: “That is an arecurring theme that I’ve lately heard talking about people.”