Inheritances might be how you build generational wealth, but according to a new study conducted by Edward Jones and Age Wave research, millennials would prefer that parents manage their own finances to live as comfortably as possible during their retirement years, rather than leave them an inheritance once they've passed away.
The rising trends of millennials living at home with their parents longer and being unable to purchase homes and gain financial independence on their own contributes to retiree-aged parents supporting millennial children for longer.
However according to the research, 63% of parents who are pre-retirees and retirees have aimed to safeguard their own financial security by limiting financial support to their adult children and other family members. About 55% are also limiting the amount of cash they're leaving to their children in order to have financial security during retirement.