Reply to Do you worry about your kids being able to maintain your current lifestyle?

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[quote=Anonymous][quote=Anonymous]You should be. Most of my acquaintances in the DC area are very downwardly mobile. Yet extremely comfortable as they are subsidized by their rich and UMC families.

You should be telling the kids immediately not to expect a dime beyond schooling or whatever. Otherwise they will observe their other rich friends be supported indefinitely by their families and expect the same from you.

FWIW I grew up LMC in the rural south and knowing that my parents weren’t planning to give me any money really helped me understand that I had to make my own money in life. [/quote]

+1
Getting your kids “off the books” is the best financial decision.  My 16 year old knows this acutely right now. We’ve taken her allowance, because she’s been irresponsible and can’t get to school on time. She has a weekend job but it does pay for the lifestyle she wants or her friends have. We don’t subsidize or encourage irresponsibility. She’s at a very wealthy private school so she is surrounded by kids who will never have to work.  We are working wealthy, not wealthy wealthy.[/quote]

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