Downward social mobility - anyone worries about it?

[Anonymous]

As the college application process wraps up, I’m realizing something that’s getting harder and harder to ignore: it really seems like DC is headed for downward social mobility. I just don’t see them pursuing a career that would allow them to maintain the lifestyle they grew up with. And since they’re not getting into Ivy League schools, they won’t even have the prestige, however little it may be, that might help them hold onto whatever social status comes with it.

And then there’s the bigger picture. The spouse they end up with will probably be in the same situation, and then there are their kids and the whole family trajectory. Add in the rise of AI and the disappearance of jobs, and it’s only going to make things worse.

Maybe this isn’t something people say out loud. One of those quiet anxieties. But can we rant about it on an anonymous forum.

[Anonymous]

Not everyone needs to be wealthy to be happy.

[Anonymous]

Is your child a boy or a girl? My teenager is a boy and I'm pretty sure his plan right now is to marry a woman that is ambitious. He's good looking so he probably has that luxury.

[Anonymous]

I think everyone should read Peter Turchin’s “End Times”. It’s an interesting, albeit potentially depressing and scary, discussion of how societies evolve and one of the things he talks about is “elite overproduction”, which is essentially your concern, op.

I’ve raised my kids to not expect much. I have an inheritance that I’ve received that I intend to hand down to them that will hopefully function as a buffer against the changing times.

I hope they marry well, have children, find jobs that work for them, and use what I leave them to create a strong foundation for themselves and their families.

[Anonymous]

Anonymous wrote:As the college application process wraps up, I’m realizing something that’s getting harder and harder to ignore: it really seems like DC is headed for downward social mobility. I just don’t see them pursuing a career that would allow them to maintain the lifestyle they grew up with. And since they’re not getting into Ivy League schools, they won’t even have the prestige, however little it may be, that might help them hold onto whatever social status comes with it.

And then there’s the bigger picture. The spouse they end up with will probably be in the same situation, and then there are their kids and the whole family trajectory. Add in the rise of AI and the disappearance of jobs, and it’s only going to make things worse.

Maybe this isn’t something people say out loud. One of those quiet anxieties. But can we rant about it on an anonymous forum.

Save more money, spend less, and leave them all you can in their inheritance. That is how you can help them and your grandkids.

[Anonymous]

If you give to your DC's the best education in the world and they still can't succeed, an inheritance isn't going to make any difference (unless you have Elon Musk money).

[Anonymous]

Anonymous wrote:If you give to your DC's the best education in the world and they still can't succeed, an inheritance isn't going to make any difference (unless you have Elon Musk money).

Hmm... but being born into relative wealth and connections has been shown to be a major contributor to retaining class status (class in this context meaning same income bracket and general social circle). If you sense your kid isn't making those connections themselves, then you certainly can step in and try to help them. This is what families have been doing for ever.

One of my kids as an asocial form of high-functioning autism. He's smart, but cannot make small talk or network to save his life. I'm not quite sure where he's going to end up, but I certainly hope our money will keep him from poverty.

[Anonymous]

Anonymous wrote:Not everyone needs to be wealthy to be happy.

Right? The happiest couple I know is a firefighter instructor and an elementary school teacher.

[Anonymous]

Nature has a way of making us humble.

[Anonymous]

OP,

I was born into a European aristocratic family. My forefathers were ennobled in the 10th century. The family tree, as currently researched, stretches out for more than a thousand years.

Were all my ancestors happy and comfortable? Of course not. My family line survived countless European wars. Many ancestors killed and were killed, some in political or religious wars, others in assassinations (so rivals could inherit title and castles). Some generations were rich, some were poor.

The point is to survive, and hopefully do so while knowing your place in the world, and who came before you. It doesn't matter if your child is less well-off than you. Perhaps a distant descendant will research the family tree and find you, and know you were one of the contributors to their existence, comfort and happiness.

Take the long view.

[Anonymous]

Why do you care if your kids have a downward trajectory - especially if they themselves don’t particularly care? It happens all the time. Family fortunes go up, and down.

[Anonymous]

I am not worried because I came from nothing. It’s not the end of the world to live modestly. And if one has ambition and IQ and is hard working, there’s still plenty of options here in the U.S.
If they don’t, it’s fine too. Contrary to the popular belief, the U.S. social safety net isn’t that bad in blue states and if one knows how to navigate the system.

[Anonymous]

Those with hustle don't worry about downward mobility. There is endless opportunities in the US.

[Anonymous]

Anonymous wrote:I am not worried because I came from nothing. It’s not the end of the world to live modestly. And if one has ambition and IQ and is hard working, there’s still plenty of options here in the U.S.
If they don’t, it’s fine too. Contrary to the popular belief, the U.S. social safety net isn’t that bad in blue states and if one knows how to navigate the system.

Agree

[Anonymous]

No one knows what tomorrow will bring. We could have a revolution, depression or a worse pandemic than covid. It makes no sense to worry about what you cannot control.