Given today’s living expenses, about 10% of those surveyed by Finder admitted to relying on an inheritance to meet their financial objectives.

Almost one in five Australians said an inheritance would significantly improve their finances but they were not dependent on the money.

The results also revealed that even though 12% of participants expect to receive an inheritance, it wouldn’t substantially alter their financial strategies.

Almost one in 10 respondents did not expect to get an inheritance due to family circumstances such as a lack of family or strained relationships.

Meanwhile, half of Australians said their family was not in a position to leave an inheritance.

Finder personal finance expert Sarah Megginson said the family money was increasingly viewed as a lifeline for many Australians navigating rising costs.

”With the cost of living sky-high, it’s not surprising that some Aussies are hinging their future financial security on an inheritance, but it’s a risky strategy,” Megginson said.

“Relying on money that hasn’t hit your bank account yet can delay important financial decisions and create a false sense of security.

“Not everyone can count on a family payout, nearly half of Aussies say their family won’t be in a position to leave anything behind.”

Megginson urged Australians who expect to receive an inheritance to use this time to educate themselves on topics such as investing, tax implications and budgeting.

“A sudden windfall can disappear fast without a solid financial plan in place,” Megginson said.

The information provided on this website is general in nature only and does not constitute personal financial advice. The information has been prepared without taking into account your personal objectives, financial situation or needs. Before acting on any information on this website you should consider the appropriateness of the information having regard to your objectives, financial situation and needs.