Every generation has a reputation. The Baby Boomers brought the “American Dream” to our collective imagination and Generation X brought an increasing number of women into the workforce. Now, millennials are bringing a revolution to how they handle money and how they perceive their parents’ role in managing that money.
Millennials tend to look at their parents and others in the Baby Boomer generation as friends and mentors, with three out of four in the younger generation indicating that their families provided them with financial assistance after college. Of these, more than two-thirds say they couldn’t get by without their parents’ help.