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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]These articles focus on career “success” and not money “success”.

The insurance policy is that the graduates have rich friends and/or marry someone rich. How many parents on this board earned their 1% vs married their 1%? I am semi-successful professsionally from a meh-private college; my money comes from my husband’s family, not my career.[/quote]

Both former low-income, heavily aided students who met at an ivy, went to med school at a different but top school, and earn top2%. Most of our adult friends are in medicine or law. About half came from no money and did not marry into significant (top-5%)money. We are younger than the ave college parents, just turned 50, college '97. Our friends are all similar. In fact the smartest two from '97 are a top lawyer and a research MD-phD.about 40% of my ivy was on need-based aid when I attended now it is 55%. parents on dcum who went to college in the 80s have a very different understanding of college compared to people from the late 90s. The legacy friends in my adult involved alum group are predominantly new to the top incomes, and were not legacies ourselves. My ivy absolutely changed my trajectory and it continues to do the same for a larger and larger portion of the undergraduate population. [/quote]

People gravitate towards people like themselves.
I am going to take a guess that you didn't know anyone of generational wealth in college or grad school - because you don't know how to recognize it. While your ivy opened doors for your generation, the next generation will have a very hard time getting into an ivy because there is no pity party for children of ivy grads. 
Many 1st gens that graduate into high salary figures think they have reached an UMC level of wealth but if it's not generational, the children will be wage slaves too trying to maintain the same lifestyle and similarly without any cushion. 
Wealth has cushion, those kids can choose careers like art curator or non-profit work because they just need to get by. They don't need to save.  [/quote]

Nailed it.

We are not super wealthy but we have generational wealth (say $20-$25M NW and 1% salary). Kids are high achieving and will do well but there is a safety net for them that most just don’t have because they will never need to save for college expenses or housing down payments. Trusts will cover those things.[/quote]

Nailed what? Yes you are rich. No it is not necessary to have $20 mil to lead a good life. No, your money does not guarantee your children will be happy and productive, much less your grandchildren. Nor does it prove that a kid going to UVA will never get to the same level you are at. [/quote]

I only said that we aren’t desperate for Ivy+ schools as many seem to be because there is a safety net for my kids that most don’t have. I personally went to a Public school, not an elite private.[/quote]

And I am saying you are delusional about your “safety net.”  Acting like you have to have $25 mil to be “safe” otherwise you have to make sure your kid gets into Harvard is … deluded. And that is what the article/book says. [/quote]

That is not at all what I said, you are trying to twist my words. I was pointing out that if you do not have to worry about saving for a down payment on a house when you are starting out or worry about how to save enough in a college fund to put your children through college you have a much wider set of career choices and you may have greater freedom of choice than others. The comment was about the fact that families with generational wealth often do not feel teh same pressuresd that others do when if comes to these schools.[/quote]

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