Generational Lessons: Boomers' Impact on Millennial Personal Finance

Millennials are more knowledgeable about personal finance compared to previous generations, and their parents played a significant role in this. A recent survey found that nearly three-quarters of millennials grew up in families that talked about money, while only 41% of boomers recalled discussing finance with their parents. The trend of discussing money with children has been steadily increasing, with younger generations starting financial conversations at earlier ages. Experts believe that boomers, who were taught little about money by their own parents, made a conscious effort to educate their millennial children about finance. This generational shift in financial education may be attributed to the significant wealth transfer from boomers to millennials.