Reply to Generational wealth. What's behind the obsession?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Have you guys seen the current fertility rate and it's trend lol? Many of you will be lucky if your kids have kids. Many don't want to.[/quote]

Estimates indicate a 12-percentage point drop in the number of 18-year-olds entering college from 2025 to 2030.

Let that sink in.

I believe in Japan more adult diapers are sold than baby diapers.

By 2050 births will probably come to a halt in the US.

Yes people should absolutely build generational wealth, but do keep in mind that YOU are probably not even going to have grandchildren.[/quote]

Though I guess it could be more likely with generational wealth - kids won't have to stress about how to financially support a family! [/quote]

The uncomfortable question though is do they really want to be married and build a family? I'm just not sure.  [/quote]

This is a problem in rich countries that has a substantially high population of a middle class and some life style requirements which emphasises individualism. They believe that anything that does not fall within that paradigm is a grave injustice or "socialism".

Countries that have a more communal way of living (multi-generational joint families) and immigrants from those kinds of cultural backgrounds are actually using that blue-print (multi-gen households, pooled resources) in the US to safeguard against issues of unaffordable homes, eldercare, childcare, job losses etc.

These groups will continue to build a family because that is a part of the family's calculus.  I find it horrifying when families have single children in their late 30s-40s who are not yet married and have their own kids - and everyone in the family is unbothered.  [i]Oh, so and so is a "pet parent". [/i] Bloody hell!! [/quote]

The individualism in this country is coming to a difficult spot and I wonder if people are going to make the compromise and get along well enough with family to pool resources and live together. I don’t think it is going to happen.[/quote]

Well, collectivism is other cultures is not enforced just by the family, but it is woven in the fabric of the  society.

In other words, it does not depend on getting along well enough with family - there is immense pressure from extended family, neighbors, friends, co-workers etc, to make it work.  You may leave the family but you will have to do your share as an offspring - even if nothing is written down.   Sometimes it can be toxic for some individuals, but by and large, things are modernizing enough that compromises happen from both sides, especially if everyone is educated.

Sometimes, what you do for your family comes from a place of great indebtedness.  My parents came and helped out all of us siblings when we were married - when we had kids, when we were building our houses, when we were studying to pivot to new careers, when we were unemployed, when we were looking after our ILs, when there was death, birth, weddings in the family.  So, for me, I will do anything for my siblings and parents.  This same feeling of gratefulness has extended to my ILs, SIL etc.

This intervention is also helpful for the next generation in the extended family.  My father educated 6 nephews and 1 brother after the death of his father and the long illness/unemployment of his elder brother.  Which translated to economic hardship for us. But in the long run - 4 nephews and 1 brother - their family thrived and their children are doing very well.  This was not all altruism.  Making sure that no branch of the family failed meant that my dad did not have to support the nephews and brother and their families for the rest of his life.  After a decade of help, they all were self-sufficient and their own kids were able to take care of their parents.   Of course, there is enormous amount of goodwill towards us.  People I have not met in my life, know my identity as the daughter of the great saviour - and I am met with such love when I meet them.  All my extended family are super-achievers.

My hope for America is that there are enough immigrants, examples and daily interactions for Americans to take the lessons they need to survive.

There is a village for everyone if you can become a reliable villager first. [/quote]

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