Is there something to those self-indulgent millennial stories after all?

People who have already retired probably got there, by andlarge, by their own efforts and the help of a pension plan from anemployer, although the latter is certainly disappearing.

But millennials, according to a survey from NatixisGlobal Asset Management, not only aren’t focused on saving forretirement or on an employer pension plan, but instead expect bothan inheritance from their parents or grandparents andfinancial help from their own children to get them through.

According to the survey, 62 percent of millennials, comparedwith just 31 percent of boomers, expect to receive an inheritanceto help fund their retirement.

In addition, 47 percent of millennials, compared with 24 percentof boomers, say family assistance with finances and housing will bean important part of their financial security in retirement.

But 40 percent of boomers aren’t planning on leaving aninheritance at all—with 57 percent of boomers not believing they’llhave anything left to leave anyone, and another 35 percent planingto make sure they don’t by spending whatever they have onthemselves. Oh, and 44 percent don’t even have a will.

That’s not all the surprising news about millennials, though.They fully expect to retire young, planning on quitting work by thetime they’re 59. That’s an average of six years earlier thanboomers, who are shooting for retirement at age 65.

But there’s a flaw in millennials’ plans, since they’re onlysaving at a rate based on their expectation to live for 25 years inretirement—making them 84 years old when they run out of money(whoever's money it turns out to be).

They’re not planning based on data from the Social SecurityAdministration that one out of every four 65-year-olds today willlive past age 90, and one out of 10 will live past age 95.

They’re also not planning on the impact of inflation on whatmoney they are saving.

Just 17 percent of millennials say they’ve factored inflationinto their retirement savings planning, even though a 3 percentannual inflation rate could turn today’s $100 purchase into onethat costs a retired millennial $181 instead—that’s going to eat upsavings a lot more quickly than they anticipate.

The survey also finds that the cost of long-term care andout-of-pocket health care expenses are considered the biggestthreats to financial security in retirement by both boomers andmillennials.

Houses play a big role in retirement planning, with nearly halfof Americans—49 percent—including 60 percent of millennials and 43percent of boomers planning on cash from the sale of their homesand/or businesses to pay their expenses in retirement.

In addition, at least a third of married couples, 33 percent ofmillennials and 35 percent of boomers, say their spouse’sretirement savings will be very important.

One source of help they’re not looking to is thefederal government, with just 37 percent expecting that SocialSecurity will be a very important source of retirement income. Thatincludes 47 percent of boomers and 35 percent of millennials—with41 percent of millennials not even expecting that Social Securitybenefits will be available by the time they retire.