Insight of the Day: Two-fifths of millennials fear their parents are frittering away their inheritance, survey finds

The fear of parents frittering away their inheritance is a concern for two fifths of millennials, according to a survey[1]. This fear is not unfounded, as many parents are spending their inheritance on luxuries, such as expensive cars or designer clothes, rather than saving it for their children's future[1]. This trend has led to a growing concern among millennials, who are worried about their financial future and the impact of their parents' spending habits on their inheritance[1].

The survey also found that 30% of millennials believe their parents are not saving enough for retirement, and 22% believe their parents are not saving enough for their children's future[1]. This highlights the importance of financial planning and the need for parents to consider their children's financial future when making spending decisions.

In conclusion, the fear of parents frittering away their inheritance is a concern for many millennials, as they worry about their financial future and the impact of their parents' spending habits on their inheritance. The survey results underscore the importance of financial planning and the need for parents to consider their children's financial future when making spending decisions.

Source: https://www.msn.com/en-za/news/other/two-fifths-of-millennials-fear-their-parents-are-frittering-away-their-inheritance-survey-finds/ar-BB1jMIdM?ocid=iehp%2Ciehp