8 Tips Millennials Wish Their Parents Would Follow

When children are young, they often turn to their parents for advice. But at some point later in life, the tables might turn.

In fact, members of today’s millennial generation have more than a few suggestions they wish their parents would follow.

Alas, those elders are unlikely to listen: An overwhelming 83% of retirees say they either rarely or never turn to their kids for advice, according to a survey of thousands of adults conducted by Age Wave and Edward Jones.

But that doesn’t stop millennials from worrying about their parents’ financial security and overall quality of life. Following are some tidbits of wisdom that millennials wish their parents would heed.

8. Limit financial support to relatives

Millennials who wish their parents or parents-in-law would do this: 23%

The plight of loved ones can pull at our heartstrings, and it is all too easy to reach into our wallet to try to make family troubles disappear.

As millennials understand all too well, dishing out endless amounts of cash to relatives is unlikely to serve anyone well.

7. Work longer, or go back to work

Millennials who wish their parents or parents-in-law would do this: 26%

Many workers just cannot wait to get to retirement. Some even dream of retiring long before age 65. But the earlier in life you stop working, the more difficulty you are likely to face in financing your golden years.

If you plan to exit the workforce anyway, make sure you “Cut These 11 Expenses Now If You Hope to Retire Early.”

6. Reduce your debt

Millennials who wish their parents or parents-in-law would do this: 28%

Whether you are young or old, debt is a wealth killer. The parents of millennials would be wise to take this bit of wisdom from their offspring to heart.

For tips on getting out of the red, check out “How to Pay Off $100,000 in Debt.”

5. Engage in new hobbies or creative activities

Millennials who wish their parents or parents-in-law would do this: 31%

The older we get, the more likely we are to become hopelessly stuck in our ways. But trying novel things can bring renewed zest to life.

Looking for something new to try? Consider one of the “10 Hobbies That Can Help You Live Longer.”

4. Spend more quality time with family

Millennials who wish their parents or parents-in-law would do this: 32%

This one is kind of touching: It appears that today’s millennials would love to spend more time with their folks.

That may come as a pleasant surprise to parents still recovering from their kids’ moody teen years.

2. Become more physically active (tie)

Millennials who wish their parents or parents-in-law would do this: 35%

America remains a nation of couch potatoes. Just 24.2% of adults meet expert recommendations for aerobic and muscle-strengthening activity, according to the Centers for Disease Control and Prevention.

Listen up, parents: Your millennial kids want you around for a long time to come. Getting more active is a great way to make sure that happens.

2. Regularly challenge yourself mentally (tie)

Millennials who wish their parents or parents-in-law would do this: 35%

Millennials are still young enough to find excitement in confronting big challenges and considering new ideas. That is probably less true for their parents.

But challenging yourself mentally is a great way to keep life from turning stale.

1. Adopt a more frugal lifestyle

Millennials who wish their parents or parents-in-law would do this: 37%

Millennials take a lot of flack for allegedly being slacker snowflakes. But unlike earlier generations, many of them seem to be satisfied with less.

This generation appears to have learned that a frugal lifestyle often results in greater peace of mind. This is another area where parents can learn from their children’s wisdom.

However, if asking your kids for financial advice is too much to bear, turn to the Oracle of Omaha and discover “14 Frugal Living Tips to Learn From Warren Buffett.”