What do you do when your kids pursue their passions and are now broke as adults?

[Anonymous]

Anonymous wrote:One of my children is autistic and can only be functional in a path he's passionate about. It is our hope that he can make a career out of it. We do have funds to help him out in case it doesn't go as planned.

If there is no money, then your kids have to power through. What are they doing?

That's not what OP is asking

[Anonymous]

It’s hard OP

They are adults they have to figure it out one day you won’t be here to do it for them

So be it they live a harder lifestyle that’s on them they made these choices.

[Anonymous]

Yeah, they may be growing up and realizing that every paper pusher out there isn’t doing it because they’re deeply passionate about it.

Sometimes, you have to choose between work you’re passionate about but isnt lucrative or something that is fine and does a good job paying the bills. There are lots of options and ways to balance your interests and financial goals, they need to decide what kind of balance they are looking for.

[Anonymous]

If kids are smart and dedicated, they find their way with sociology major. If they aren't, they'll make do as mediocres in their STEM career.

[Anonymous]

Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

[Anonymous]

Anonymous wrote:If kids are smart and dedicated, they find their way with sociology major. If they aren't, they'll make do as mediocres in their STEM career.

haha sure, because STEM majors are not smart.

[Anonymous]

Anonymous wrote:Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

There's a balance. Money isn't everything, but you need money to survive. Even if you have somewhat wealthy parents who can support you, what happens to your kids when the grandparents money is all gone by the time they reach their adulthood?

Teach your kid to fish.

[Anonymous]

Anonymous wrote:If kids are smart and dedicated, they find their way with sociology major. If they aren't, they'll make do as mediocres in their STEM career.

sociology majors need a graduate degree to be able to get a good paying job, irrespective of how "smart" and "dedicated" they are.

The types of jobs you can get with just an undergrad in sociology are things like social work. Have you seen how much social workers get paid?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

There's a balance. Money isn't everything, but you need money to survive. Even if you have somewhat wealthy parents who can support you, what happens to your kids when the grandparents money is all gone by the time they reach their adulthood?

Teach your kid to fish.

“Shirtsleeves to shirtsleeves in three generations” is a common phrase that describes the unwanted outcome of transitioning hard-earned wealth to the next generation. It turns out that this unwanted outcome has been present for centuries, with many cultures having familiar colloquialisms. Italians say, “from the stable to the stars and back again.” “Clogs to clogs in three generations” is a phrase from the 1700s in England. The Chinese proverb “Fu bu guo san dai” translates to “wealth does not pass three generations” and dates back thousands of years.

Many great entrepreneurs built their fortunes as scions of wealthy families - but brought the requisite work ethic. Unfortunately, an exponentially larger number have squandered the family wealth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

There's a balance. Money isn't everything, but you need money to survive. Even if you have somewhat wealthy parents who can support you, what happens to your kids when the grandparents money is all gone by the time they reach their adulthood?

Teach your kid to fish.

Know so many stories here, including DS' ex GF. New England money that was finally gone in her childhood. Nearly homeless in HS, exacerbated by divorce, until someone allowed the mom, GF, and sibling to move into a basement.

And others where the DCs didn't realize that their parents' bougie lives were underwritten by family money and now complaining about the crap houses they can't even afford in Bethesda.

[Anonymous]

Anonymous wrote:Yeah, they may be growing up and realizing that every paper pusher out there isn’t doing it because they’re deeply passionate about it.

Sometimes, you have to choose between work you’re passionate about but isnt lucrative or something that is fine and does a good job paying the bills. There are lots of options and ways to balance your interests and financial goals, they need to decide what kind of balance they are looking for.

I would have preferred to have taken more "progressive jobs" in my early years, but I had loans to pay and a bank account to build as there was no family money. I stayed in the field, but in better paying positions. But maybe not having money is what made me more practical here.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

There's a balance. Money isn't everything, but you need money to survive. Even if you have somewhat wealthy parents who can support you, what happens to your kids when the grandparents money is all gone by the time they reach their adulthood?

Teach your kid to fish.

Know so many stories here, including DS' ex GF. New England money that was finally gone in her childhood. Nearly homeless in HS, exacerbated by divorce, until someone allowed the mom, GF, and sibling to move into a basement.

And others where the DCs didn't realize that their parents' bougie lives were underwritten by family money and now complaining about the crap houses they can't even afford in Bethesda.

IMO, parents who have a bit of family money, and let their kids think there will always be family money they and their children can live off of do their children a disservice. We are not talking about the uber wealthy, like the Bezos or Buffets, but the UMC to somewhat wealthy. Even so, neither Bezos nor Buffet are leaving everything to their children, and want their kids to learn to stand on their own.

If your kid is fine with struggling while pursuing their passion, at least inform them of the realities of life. Otherwise, you are doing your child a huge disservice.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Yeah, they may be growing up and realizing that every paper pusher out there isn’t doing it because they’re deeply passionate about it.

Sometimes, you have to choose between work you’re passionate about but isnt lucrative or something that is fine and does a good job paying the bills. There are lots of options and ways to balance your interests and financial goals, they need to decide what kind of balance they are looking for.

I would have preferred to have taken more "progressive jobs" in my early years, but I had loans to pay and a bank account to build as there was no family money. I stayed in the field, but in better paying positions. But maybe not having money is what made me more practical here.

it is. People who come from poorer backgrounds don't generally have the luxury of not thinking about how to pay the bills.

I also grew up poorer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

There's a balance. Money isn't everything, but you need money to survive. Even if you have somewhat wealthy parents who can support you, what happens to your kids when the grandparents money is all gone by the time they reach their adulthood?

Teach your kid to fish.

Know so many stories here, including DS' ex GF. New England money that was finally gone in her childhood. Nearly homeless in HS, exacerbated by divorce, until someone allowed the mom, GF, and sibling to move into a basement.

And others where the DCs didn't realize that their parents' bougie lives were underwritten by family money and now complaining about the crap houses they can't even afford in Bethesda.

IMO, parents who have a bit of family money, and let their kids think there will always be family money they and their children can live off of do their children a disservice. We are not talking about the uber wealthy, like the Bezos or Buffets, but the UMC to somewhat wealthy. Even so, neither Bezos nor Buffet are leaving everything to their children, and want their kids to learn to stand on their own.

If your kid is fine with struggling while pursuing their passion, at least inform them of the realities of life. Otherwise, you are doing your child a huge disservice.

Buffet's grand daughter had to go on welfare because he won't help out. Seems like there should be some way to "fine" a $100BN+ person that they have to at least reimburse the government for welfare.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Money is not everything. There are a lot of miserable well paid people in the DMV who work in soul sucking jobs. They have traded their dreams for financial security. That's a heavy price.

There's a balance. Money isn't everything, but you need money to survive. Even if you have somewhat wealthy parents who can support you, what happens to your kids when the grandparents money is all gone by the time they reach their adulthood?

Teach your kid to fish.

Know so many stories here, including DS' ex GF. New England money that was finally gone in her childhood. Nearly homeless in HS, exacerbated by divorce, until someone allowed the mom, GF, and sibling to move into a basement.

And others where the DCs didn't realize that their parents' bougie lives were underwritten by family money and now complaining about the crap houses they can't even afford in Bethesda.

IMO, parents who have a bit of family money, and let their kids think there will always be family money they and their children can live off of do their children a disservice. We are not talking about the uber wealthy, like the Bezos or Buffets, but the UMC to somewhat wealthy. Even so, neither Bezos nor Buffet are leaving everything to their children, and want their kids to learn to stand on their own.

If your kid is fine with struggling while pursuing their passion, at least inform them of the realities of life. Otherwise, you are doing your child a huge disservice.

Buffet's grand daughter had to go on welfare because he won't help out. Seems like there should be some way to "fine" a $100BN+ person that they have to at least reimburse the government for welfare.

Should your grandfather's debt be passed on to you? That's essentially what you are saying, only in the reverse, that the grandfather should take on the debt of the grandchild.

The grand daughter clearly didn't learn to fish.