Study Shows Half of Millennials and Gen Z Relying On Financial Windfall Or Inheritance To Achieve Their Goals

Many people set financial goals, but reach them in different ways. Some work and save money early on in their career for things like a down payment on a house. Others rely more on support from parents or from starting a business to help achieve their personal financial achievements.

One other way to work towards bigger financial goals is to use a sudden influx of a lot of money and direct it towards one goal or across numerous things at the same time. For example, receiving an inheritance can open a lot of doors for someone who is smart about the strategy for managing that new money.

Since the start of the pandemic, millennials and Gen Z are the most likely group to receive or give a wealth transfer. While millennials and Gen Z are those most likely to get a financial windfall, they’re also most likely to give one.