Gen Z expect to inherit money, assets—but boomer parents don’t plan on leaving anything
The millennium and Gen. Z are impatiently for 124 trillion dollars, as they inherit the wealth of their parents-however, many factors disappoint you because the fifth of the children who expect to leave anything.
Northwestern Mutual included for Northwestern Mutual, more than 4,500 adults and found that only few of them are chosen, they could expect a lot of money when their fathers pass.
Today, more than half of America’s wealth belongs to children’s children, with most of them linked to their real estate while they are reducing their size.
Perhaps this is the reason why more than half of General Zires and about 60 % of the millennial generation stated that they depend on their inheritance to achieve financial security and retirement in comfort.
However, those properties that limit their parents (or grandparents “and perceive a comfortable retirement in a great shock: no more than 20 % of children’s children expect to leave the inheritance.
It is not that the generation has forgotten its young loved ones. In fact, 60 % have a will in place – but their children and grandchildren are more likely to find funeral instructions in it more than cash or action to their family’s home.
This is because more than half of the newborns were explicitly planning to not leave a legacy behind it. What’s more, only 11 % of Boomers said that leaving something for children is their highest financial goal.
Some members of the older generation spend all their money
The search for the reason for the children’s children did not want to pass anything; However, there is an increasing group of people trying to die with scratch – mainly, enjoying all their wealth while they are still alive and die at $ 0 in their bank account.
Some said luck Instead of leaving large sums in the next generation, they treat their loved ones with the likes of holidays while they are still present in the tour to see the joy that their money can bring.
“If you have money now, search now – don’t wait for you to be dead,” Illina Nunez Cooper, who plans to pay for her friend’s honeymoon and spraying on charitable reasons, told recently. luck.
Others admitted that they are using their money with difficulty to enjoy life to the fullest, including trips to Mexico and the Glastonbury-instead of transferring it to the grave after decades of hard work.
“It is a shameful thing to see people dying with a lot of money in a job they worked in them that they do not enjoy, or with people who do not like them.” “They go to an automatic pilot who accumulates wealth and does not think about what it is.”
In addition, the Northwestern Mutual report emerges, the cost of old growth is only rising. In 2020, the respondents said they needed 951,000 dollars to retire comfortably – but this number rose to $ 1.46 million, exceeding inflation.
While many births do not expect anything to be transferred to the next generation, nearly half of them have plans to address future health care costs in retirement.
Therefore, in fact, a lot of great wealth transition is possible to go to hospitals and care houses.
Young people are immersed in the bank of my mother and my father now anyway
Although the majority of Gen Z and Millennials may not benefit from the transmission of the great wealth, a large part of the generation already slides in their inheritance while their parents are still present anyway.
Research shows that more than a third of young people planning to buy a house expect to help their parents or families in the batch presented in the form of a cash gift.
Meanwhile, separate data shows that the millennial generation is more likely than generations that have previously decreased to my mother’s bank and my father to become homeowners.
Moreover, supporting your adult children does not stop helping them get a property ladder.
According to the Pew Research Center, a third of the millennial generation in their early thirties is still born by their parents, who are preparing their daily expenses and broadcast subscriptions.
A copy of this story was originally published on Fortune.com On September 2, 2024.
More about the transmission of the great wealth:
- The transfer of the large wealth of $ 124 trillion is greater than ever – and the millennial generation will get the largest pieces
- The Gen X 1.4 trillion dollars: The “forgotten generation” is the sudden winter winner in the transfer of great wealth
- Forget the transfer of great wealth – it provides Boamers and Gen X the luxury market with luxurious luxury residences and shopping requirements
2025-09-26 14:58:00
