A recent survey by Fidelity found that more than half of Americans (56%) say their parents never talked to them about money. One reason for this is that many people have a complicated relationship with money, which makes it harder to discuss.
Most Americans (89%) don’t consider themselves wealthy. For many, being wealthy just means not having to worry about living paycheck to paycheck.
When it comes to the money they have, most Americans (80%) say they earned it on their own, while only 5% say they got it through inheritance.
David Peterson from Fidelity suggests that because many people, especially older generations, have built their wealth on their own, they may not feel the need to get formal financial advice or planning.