Do you worry about your children experiencing downward mobility?

[Anonymous]

Do you worry about your children not being able to maintain the standard of living they have as adults? How do you help them so they don’t fall down SES?

[Anonymous]

No. I don't borrow problems. Also, I don't think it's the end of the world if they don't have everything I have. If they're upper middle class instead of whatever you call what I am, so what? And if they're middle class? So what. If they are happy being a public school teacher married to another public school teacher, then that's what is best for them. Money isn't everything.

[Anonymous]

I worry more about the planet burning up during their lifetimes.

[Anonymous]

Yup! My adult kids can't afford homes, so they've all been renting (even the married ones) for years now. I'm sad because my DH and I were able to buy our home in our 20s (admittedly at a high interest rate, but a reasonable price), and my kids want to be homeowners but can't manage it.

[Anonymous]

Anonymous wrote:No. I don't borrow problems. Also, I don't think it's the end of the world if they don't have everything I have. If they're upper middle class instead of whatever you call what I am, so what? And if they're middle class? So what. If they are happy being a public school teacher married to another public school teacher, then that's what is best for them. Money isn't everything.

What if they are working paycheck to paycheck and are 1 paycheck from being homeless? But at least they're "happy"?

[Anonymous]

Anonymous wrote:I worry more about the planet burning up during their lifetimes.

Same. But I'm the downwardly mobile one, so that seems frustrating but not catastrophic to me. Bigger problems out there.

[Anonymous]

Yes and I vote accordingly

[Anonymous]

Try to remember when you were 22 years old and long with cast of furniture and an older model car. Young adults should not expect to live like their parents at that age.

[Anonymous]

I don’t care or they’re “lower SES” as long as they’re happy and healthy (which I think would be hard to achieve once you get close to the poverty line for sure). If they do end up unable to support themselves I will probably look into some kind of trust so they’ll have a structured source of income when I die.

[Anonymous]

I grew up in NW DC so downward mobility is inevitable for people whose parents are in the top one or 5%.

It’s not a really big deal and all my friends turned out great.

[Anonymous]

Anonymous wrote:Try to remember when you were 22 years old and long with cast of furniture and an older model car. Young adults should not expect to live like their parents at that age.

I agree with this. Young adults never saw how their parents lived at the same age. They shouldn’t expect to start off after college with the same lifestyle as their parents when it took their parents 25 years to get to that point.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No. I don't borrow problems. Also, I don't think it's the end of the world if they don't have everything I have. If they're upper middle class instead of whatever you call what I am, so what? And if they're middle class? So what. If they are happy being a public school teacher married to another public school teacher, then that's what is best for them. Money isn't everything.

What if they are working paycheck to paycheck and are 1 paycheck from being homeless? But at least they're "happy"?

Money doesn’t motivate everyone. If they chose to not get a second job, that’s on them.

[Anonymous]

This was a thread a week ago with parents asking how much to subsidize their college graduate with living expenses. I think the parents have a harder time seeing their kids live with roommates, tiny apartments, etc.

[Anonymous]

We are sacrificing a lot to make sure all 3 of my kids start life with a fully paid house in NW DC. We are sending them to amazing schools and trying to make sure they are well adjusted adults. Everything else is on them.

[Anonymous]

No, we live very modestly.