Gen Z, millennials relying on 'bank of mom and dad' to meet financial goals

55% need a financial inheritance or windfall to reach their goals, study says.

A majority of young Canadians are relying on the “bank of mom and dad” to meet their financial goals, according to a new study by Edward Jones Canada.

In fact, over half (55 per cent) of generation Z and millennials (aged 18-34) need a financial inheritance or windfall to reach their goals, according to the survey. That’s 13 per cent higher than the national average.

Read the complete article on the FinancialPost.com

Author of the article:  Noella Ovid  Publishing date: Sep 23, 2022