While inflation has slowed to 2%, prices are still 20% higher than they were four years ago. Fidelity released the findings of its 2024 State of Wealth Mobility study, which consisted of 1,900 American adults over the age of 18, and set out to identify their thoughts on managing their money and meeting their financial goals. Here are some of the key highlights:Most Americans do not feel confident about their wealth: Only 10% of those surveyed consider themselves wealthy; and across all income levels, 40% said they worry about losing their money. Only 35% believe theyll be wealthy in their lifetime. However, the study showed almost 75% of Americans think the next generation will be wealthy.The next generation isnt confident either: While one-third of baby boomers dont think they need a financial plan, 54% of Gen Z do think they need onethe highest of any generation. However, 74% of participants agree that there are more opportunities for making money than there were in their parents lifetime.Talking about money with family is helpful: 56% said they didnt discuss finances with their parents as kids, and 82% said it would have been helpful. Today, 67% of respondents say theyre talking with their children about family finances.One of the most important components of financial planning is for people to engage their family and loved ones in the process, Rich Compson, head of wealth solutions at Fidelity Investments, said via email. And yet, more than half of Americans say they never spoke with their parents about family financeswhich is critical to help the next generation be prepared before life gets more complex. Reassuringly, most Americans today are changing course and giving the young people in their lives the financial education they never received.