New study on expectations of wealthy young people is disturbing.

A large percentage of affluent 18-22 year-olds are expecting that their retirements will be funded by the inheritances they expect to receive, according to a recent survey. This could mean they are spending all their own money and not saving any of it, according to Bloomberg in "Rich Kids Are Counting On Inheritance to Pay for Retirement."

While the common fear actually happens in real life, which is why the fear developed in the first place, it is not likely that is what is happening here. When one looks deeper into the situation, the young people in the survey are not wasting all their money.

They have a lot more expenses at their age than older generations did. This is in part due to student loan debt. House prices are also continuing to rise in urban areas and incomes for those just starting out have remained mostly stagnant for many years. For now, the kids cannot afford to save. That might change in a few years, as they grow into their careers.

An estate planning attorney can advise you on creating an estate plan that fits your unique circumstances and may include leaving an inheritance to the next generation.

Reference: Bloomberg (June 7, 2018) "Rich Kids Are Counting On Inheritance to Pay for Retirement."