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Nearly half of those between 13 and 22 years old responded to the study by saying that they don't have to save for retirement because they'll be getting an inheritance.
But nearly 60% of their parents in the poll from the brokerage TD Ameritrade say that's not going to happen.
Peter Richiutti, Tulane Business Professor at the Freeman School of Business says this is still better than it would've been five years ago during the Great Recession when the parents would have been saying the kids will need to support them in retirement. "We'd wonder if there'd even be any assets around in the first place. But since that time the stock market has moved up, it's selling at a five year high, the Nasdaq is at a five year high."
The majority of parents went on to say that providing an inheritance isn't even on their radar. "The parents on the other hand probably have a different goal, to spend as much money as they can and end up with a zero balance the day before they pass away," Richutti says.
"Of course there are arguments that go along with this as well. You hear sometimes interviews with (billionaire investor) Warren Buffet and he left a very minimal amount to each of his children with the idea that giving people too much at the end kind of spoils their work ethic," Richiutti says.
