It is making income disparity worse and causing problems to the larger economy, such as contributing to ballooning housing prices. Wealth accumulates with the retired and elderly, with children generally inheriting in middle age, also becoming rich old people.
https://www.abc.net.au/news/2021-12-08/wealth-transfers-and-... discusses the situation in Australia.
For children, it would generally better if you could give them money while you are still alive and while they are at a stage of life they will benefit. Yet over here we tend to have tax and financial laws that discourage that. Or for the more radical socialist mindset, if financial security of your children is what you are after it may be better to massively tax wealth and fund proper social security.
