Gen Z and Millennials: The Inheritance Generation 🤑

by

It seems that over 25% of Gen Z and Millennials are banking on the kindness of their ancestors, or more precisely, their wallets. Without a generous inheritance, these young souls confess they won’t achieve the long-term financial security they so desperately crave. 🤷‍♂️

In January, the Harris Poll, in a grand gesture of curiosity, surveyed 4,626 US adults on behalf of Northwestern Mutual. The results, as one might expect, were both enlightening and slightly disheartening.

The poll revealed that 26% of Millennials and 30% of Gen Z respondents are eagerly awaiting their slice of the so-called “great wealth transfer.” It’s as if they’re all gathered around a giant piñata, waiting for the inevitable shower of gold. 🎁

Among the Millennials expecting an inheritance, 33% declared these future gifts to be “highly critical” to their financial well-being. They claim they won’t achieve long-term financial security or retire comfortably without them. For Gen Z, the number is slightly lower at 28%, but still significant.

Furthermore, 36% of Millennials and 35% of Gen Z respondents rated their inheritances as “critical,” suggesting that without these windfalls, their dreams of financial security might remain just that—dreams.

Northwestern Mutual, in their infinite wisdom, noted that respondents from all generations have increased their expectations for leaving an inheritance compared to the previous survey. However, their expectations for receiving an inheritance have, paradoxically, decreased. 🤔

“As such, the gap between what Gen Z and Millennials say they expect in the way of an inheritance versus what their parents are actually planning to leave behind is narrowing.”

“Notably, four in ten (39%) Gen Z adults say they plan to leave an inheritance or financial gift behind – more than any other generation.”

Read More

2025-07-10 20:01