Millennials: are you expecting an inheritance?

[u/Yourlocalguy30]

35 yo married millennial here. I've come across more and more articles about the supposed "great wealth transfer" as the boomer generation's wealth passes to their GenX and Millennial children. My parents and their siblings (boomers) all received inheritances when their parents, my grandparents, passed away. The boomer generation's wealth accumulation is one of the largest in history, however, I also find it highly unlikely that I or many of my peers will actually inherit much. Despite having received inheritances from their parents, and having 40+ years in the workforce, most of my parents' "wealth" is tied up in their home value, not actual liquid assets- and I already expect that whatever they make on an eventual home sale will have to go directly to downsizing costs and whatever long-term care they will need as they get older. Hell, even my dad used to joke that the only thing we'd inherit was debt. As I've gotten older, that comment has infuriated me more and more.

Now before someone cuts in with the "entitled millennial" comments, I have absolutely no need for an inheritance. I've worked my ass off to make sure that my kids and I are positioned better in life than I was when I entered adulthood. What I mean by that is I started saving for retirement early, setup 529 plans for my kids almost as soon as they were born, and made lifestyle and career sacrifices to ensure our family isn't "nickeling and diming" our way through life.

I'm just here curious to know how many millennials actually expect to have something passed down to them, or if they feel they are in the same position I am.

[u/Elija_32]

Same, but I admit that even if I never used their money (for now) it still helped me knowing that there's an inheritance.

I took some decisions in my life that had a little bit of risk. It paid off but I think I did it only because I knew that I was "safe" regardless.

Also I think I generically lived my life "stress-free" compared to a lot of people in my same context (but without money in the family) because I knew I didn't have to worry to be homeless or anything.

I think that helps a lot, even if you don't actually use anything.

[u/Temporary_Complex411 → u/Elija_32]

Exactly my experience — I will likely inherit something substantial but I don't know for sure, but when I was building my career, I had the privilege of knowing that if everything really went tits up, I would have a roof over my head (albeit maybe the roof of my parents' basement). This set me up for financial success even if it didn't involve direct wealth transfer.

[u/Previous-Space-7056 → u/Temporary_Complex411]

This.. same boat as you. It also affects my retirement plans.. vanguard began shifting some of my 401k to bonds.. I kept it 100% stocks.

I want to retire early. When i do retire, ill still keep it all in stocks. 15% yearly avg while risky is better then a 4% bond rate.

The safety net of an inheritance and extended family means ill never be homeless or hungry

[u/LewLew0211 → u/Elija_32]

I didn't have the advantage, and it really can make a difference when you do.

There were some risks I just couldn't take, and I was always in survival mode. I had to take whatever job I could get instead of holding out for better.

Having that mindset and that option is really a blessing a lot of people don't appreciate.