Do you worry about your children experiencing downward mobility?

[Anonymous]

No, not really. We have a high HHI abut live modestly. Kids are top of their class and on track to have the opportunity available to them to pursue high paying career fields.

[Anonymous]

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

I worry about global governmental instability. We're already headed that direction.

[Anonymous]

Anonymous wrote:No, we live very modestly.

+1. Our kids have no idea what we make because we don't make it obvious. The fact is, we live entirely off my husband's salary, and my salary (equal to his) is simply being invested. We could live a far fancier life, but we don't need it. We're not being frugal -- any time anyone wants/needs something, we buy it. It's just that we don't need a lot of stuff, and our kids have grown up that way too.

[Anonymous]

Not my own, but I do wonder how the kids of some of the poster’s here buying their 13 yr olds Dyson hair dryers, lululemon everything, luxury makeup and skincare products, getting salon highlights on the regular and such will end up

[Anonymous]

No, because it's hard to be more poorer than I am. DC, 10-years old, has a net worth of $300k. It should grow with DC. He makes his own investment decisions and so far so good.

[Anonymous]

No. Shirt sleeves to shirt sleeves in 3 generations is a real thing. Hopefully my kids will have coping skills and find meaning in their meager lives.

[Anonymous]

Anonymous wrote:No, because it's hard to be more poorer than I am. DC, 10-years old, has a net worth of $300k. It should grow with DC. He makes his own investment decisions and so far so good.

What's the story there?

[Anonymous]

We are downward mobile but we weren’t interested in living our parent’s lifestyle. We’re not status obsessed or materialistic so we just need to cover the standard expenses. Kids high schools and college are paid for.

[Anonymous]

Not very much. THis is quite low down my list of worries, which probably starts with mental illness, physical illness, accidents, becoming the victim of crime, etc etc.

[Anonymous]

Anonymous wrote:Not my own, but I do wonder how the kids of some of the poster’s here buying their 13 yr olds Dyson hair dryers, lululemon everything, luxury makeup and skincare products, getting salon highlights on the regular and such will end up

Yeah I worry about those kids too. Daily Starbucks, go to every concert, get anything they want. The parents don’t have enough to subsidize them as adults and they aren’t very smart, attractive, or hardworking. Seems like they are being set up for disappointment.

[Anonymous]

I worry about us not even having a society to sustain. In my lifetime (I’m 37), I’ve observed our society becoming increasingly lawless, course, crass, and unstable. The workforce is a disaster. Politics in the US are a joke. Most of all - and I no longer watch the news because of this - we are close to destroying out freshwater sources…then what?

We need a big change and we need it soon. So yeah. I worry about the world my kids are set to inherit.

[Anonymous]

Anonymous wrote:

Anonymous wrote:No, we live very modestly.

+1. Our kids have no idea what we make because we don't make it obvious. The fact is, we live entirely off my husband's salary, and my salary (equal to his) is simply being invested. We could live a far fancier life, but we don't need it. We're not being frugal -- any time anyone wants/needs something, we buy it. It's just that we don't need a lot of stuff, and our kids have grown up that way too.

My siblings grew up this way and really struggled as as young adults because they were shocked when they couldn't afford all of their "needs." They had always bought quality items and it pained them to not be able to replace their laptop from college with the newest MacBook when it broke, replace a jacket with a broken zipper with the nice coat they really wanted without waiting for a sale, or shop at the grocery store without adding up the prices to confirm you are within budget.

As the oldest, I recalled a significant portion of my childhood when we had to budget for needs. My younger siblings had no idea this was even possible.

I do worry about my kids. They've never known a time when we didn't just buy what we needed. We make them wait for some wants, but needs are always covered. They're going to have a lot to figure out.

[Anonymous]

Anonymous wrote:

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

I worry about global governmental instability. We're already headed that direction.

Agree with both of these. If not our kids, then our grandkids. Part of me feels like we should be accumulating wealth as aggressively as possible to protect against future scarcity and instability. The other part of me knows it's all so uncertain and likely it will be what it will be, planning and preparation aside. Raising kids to not be too consumeristic and to live with less will probably be beneficial so that they don't FEEL such a big decline if/when things get more expensive and harder to acquire.

I think one thing to consider is steering kids into AI-proof professions. I think it's totally plausible that the next generation could see massive white collar layoffs as AI replaces a lot of the "thinking" professions. Better to be lower SES and stable, than high SES and unemployable midlife.

[Anonymous]

I mean, it's a thing. College was a rude awakening for me. At 45, I'm finally back to where my parents were when I left home.

[Anonymous]

Anonymous wrote:No, not really. We have a high HHI abut live modestly. Kids are top of their class and on track to have the opportunity available to them to pursue high paying career fields.

“No not really because we’re rich!”


useless response