Anonymous wrote:Anonymous wrote:Most people take a lifestyle hit when they become young adults. But hopefully their parents have taught them and modeled the importance of hard work and the concept of working to achieve goals.
It’s actually more of a problem when young adults enter the real world and expect to live at the exact same lifestyle their parents live in now. Unless people come from very wealthy families, they had to establish themselves. There’s something to be said about out learning how to appreciate what you can accomplish.
+1
I don’t worry about it because I’ve told my kids about how I lived in my 20s and that is how they will be living too.
Anonymous wrote:Most people take a lifestyle hit when they become young adults. But hopefully their parents have taught them and modeled the importance of hard work and the concept of working to achieve goals.
It’s actually more of a problem when young adults enter the real world and expect to live at the exact same lifestyle their parents live in now. Unless people come from very wealthy families, they had to establish themselves. There’s something to be said about out learning how to appreciate what you can accomplish.
Anonymous wrote:I grew up upper middle class in a LCOL area. Parents did very well and owned multiple businesses.
I went to college with no debt, married husband and we also do well. HHI is around $700-800k a year. Sister is also doing very well and her HHI is around $1-1.2 million a year.
I worry our kids will get used to this lifestyle and never be able to replicate it. They are used to living in large houses, traveling to summer houses, flying on nice vacations (first class many times), etc. they aren’t spoiled at all and seem appreciative as much as kids can be but this is just the life they are used to. DH and I work hard and want to enjoy our life as well.
Do you also worry about your kids being able to maintain their lifestyle as they grow up? Of course DH and I do not want to or expect to fund our kids into adulthood and expect them to find careers and support themselves.
Anonymous wrote: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.