Young Americans who grew up during the Great Recession apparently did not learn much from their parents' money woes. There is a major disconnect between many of their financial wishes and realities.
Nearly 40% of Generation Z, those ages 13 to 22, expect to receive an inheritance, according to a recent TD Ameritrade study. As a result, they don't believe that they will need to save for retirement.
"There is a little bit of the halo effect of youth vs. the reality of what the situation will be like," says Carrie Braxdale, managing director of investor services at TD Ameritrade. In fact, the odds are slim that young adults will inherit wealth because their parents face a less secure retirement world, with stock market turmoil and mounting health care costs.
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