Just how grim the are the retirement prospects for the generation that’s now entering the workplace for the first time? So grim, that many believe the only way to secure a stable retirement is by inheriting it.
Well, the affluent members of Generation Z, anyway.
Specifically, 63% of affluent children ages 18-22 say financial stability in retirement will depend on an inheritance, according to a recent study of 1,000 “mass affluent” Americans by Merrill Edge.
How did Merrill Edge determine who fit the mass-affluent criteria? The study defined this group as individuals ages 18-40 with investable assets from $50,000