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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I don't know honestly. I admit upfront I am in the "I have a public service job but my father's estate pays for private schools and will pay for private college and graduate school for my kids" bucket.[/quote]

will it also pay for your grandkids' private schooling, college, and grad schools, or will your kids have to face the fact that you let the gravy train dry up, and if they want to provide their kids the same standard of living, they're  on their own?[/quote]

Please. DP but do you hear yourself? I fully expect that if my kids want my standard of living, then they will have to work hard for it. Just like their parents do and their grandparents did. We've already given them a loving and supportive household, two smart parents with good work ethics, legacies at Ivy league and other top 20 institutions, savings that will fund whichever public or private college they get into and potentially giving them a nice estate (subject to whatever tax regime they find themselves in when we die) but it won't be until they've achieved things on their own. They're starting off better than all but 2-3% of households in this country.

I have several downwardly mobile relatives (i.e., mediocre white guys) that have been given all the things you described - private prep schools, private college, etc. and haven't amounted to anything. In my own job, I can spot these types a mile away. It's the prep school guy from Lehigh or Middlebury or some other middling college trading on his high school's reputation.  Somewhat lazy and entitled but loves talking about his former lacrosse/crew/squash/etc. glory days. They're your future white rhinos -- endangered by changing demographics and expectations. [/quote]

So we should scratch Lehigh and Middlebury from the college search list?[/quote]

At least in finance circles, these colleges (along with schools like Washington and Lee, College of Charleston, Trinity College (CN)) are all viewed as second rate, "finishing" schools primarily for rich kids that either weren't sufficiently talented or had the work ethic to excel and get into better schools.  But if you're into sales and other "glad handing"/relationship services like private wealth management, P&C insurance, certain sales and trading, brokerage (mortgage, commercial and residential real estate, etc.) or other front office type of services, then there still is a market for your services.  I expect that this is where the most disruption will occur over the next few decades as younger generations simply don't care who they interact with. These same mediocre white guys tend to struggle when it comes to things like litigation and M&A, which require excellent analytical skills and attention to detail. [/quote]

You sound like such an uppity turd[/quote]

Seems like the PP struck a nerve. Do you think it’s a wrong take? DP but I find posts like that revealing and insufferable. [/quote]

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