Many adult children expect to inherit a significant amount of money from their parents, but studies show that parents plan to leave them less than they think. This is due to factors like rising costs, longer life expectancies, and changing views on inheritance. Additionally, communication between parents and adult children about finances is often lacking. As a result, many millennials and Generation Z may not receive as much inheritance as they anticipate.
A lyric from Taylor Swift's new song "I Can Do It With a Broken Heart" has become popular on TikTok. The lyric, "I cry a lot but I am so productive, it's an art," resonates with many working women who feel pressured to "have it all" and are often overworked and stressed, juggling household chores and caregiving responsibilities while also trying to excel in their careers.
The rising cost of houses and high mortgage rates are making homeownership harder to achieve. However, the lack of homes to buy is balancing out these increases. The Federal Reserve will try to lower interest rates, which may help buyers. Additionally, the "build-to-rent" market is becoming increasingly popular. This involves constructing homes that will only be rented out, which provides a more affordable option for many people.
Investors seeking stability in market volatility should consider physical gold over gold stocks, which tend to decline with the equity market. Gold ETFs like GLD and GLDM offer exposure to gold's price, with GLD suitable for short-term trading and GLDM more cost-effective for long-term investments. Despite the popularity of Bitcoin, gold remains a preferred long-term strategic investment, especially among younger generations.
Social media is fueling a distorted view of financial well-being, known as "money dysmorphia." Many people, especially younger generations, compare their finances to glorified lifestyles they see online and feel inadequate. This can damage self-esteem and lead to overspending and financial stress. Social media platforms like Instagram contribute to the problem, with users feeling pressured to portray a successful image. Financial experts advise limiting social media usage, removing payment details, and focusing on contentment rather than external validation.
Parents are increasingly supporting their adult children financially despite the potential impact on their own retirement. Nearly half of parents provide an average of $1,384 per month. High living costs and student debt contribute to this need. However, experts emphasize the importance of parents prioritizing their financial stability, setting limits, and establishing a timeframe for support to align with their retirement plans.
