Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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

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

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. Oh, so and so is a "pet parent". Bloody hell!!

My country of origin is very conservative. I just looked demographic data on marriage, fertility etc. I think this decline in marriage/fertility is a global issue. It's just not western people that are delaying marriage or having (not having) kids. As a country moves up the economic ladder it tends to experience the same challenges that more advanced economies have.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

The middle class is going to self destruct. My extended family are very low income and they do not care about the economic conditions when it comes to having children. They will get pregnant living in subsidized housing on food stamps, they don’t care. The wealthy can do whatever they want. So it is the middle class that feels the crunch so they are giving up.

Even low income households are having less children today compared to the past.

I think some of it is due to the need for both parents to work to earn a paycheck and move away from the farm in search of livlihood...therefore they now need to pay for childcare and also eldercare. All of these were the unpaid labor of women in traditional homes.

Also, the way out for most people is education which costs money and so they cannot afford loads of kids. I am sure modenr methods of birth-control also plays a part. Children were also surviving because of vaccines (LOL, oh the irony).

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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

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

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. Oh, so and so is a "pet parent". Bloody hell!!

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.

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.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm trying to understand the obsession behind generational wealth. If your retirement is on target, your kids college education funded and you own a home then why are you obsessively stressing over the generation beyond your kids?

I’ve built a mini-empire with my IT business and having homes in Lake Tahoe (Nevada), Wyoming, and Florida. I want my kids, their kids, and their kids’ kids to enjoy that. They say family wealth is lost within 3 generations so I need to ensure that doesn’t happen.

They will certainly enjoy this while you are alive, but then it's up to them, and not much you can do to ensure this. I know some ultra high networth families who have the same angst about their kids being able to afford the lifestyle they are accustomed to, and the certain ease of life where working is optional or quitting a job you do not like it totally ok, while luxurious things around you are a given. The parents look stressed, kids look relaxed and happy. IDK if it's a good balance. The parents are worn out to have to carry the burdens of multiple kids and grandkids on their shoulders. Parents envision having luxury retirement with loving kids/grandkids all around enjoying their multiple properties and luxury vacations. But reality is they are worried about cash flow behind this veneer and putting properties rarely used or high maintenance on sale. There is a fear of disappearing wealth and overtaxation by whatever government may come down the line. Parents still hustle even though they could be happily retired because their kids are used to very high standards. It's not carefree or a retirement at all.

Well that is silly IMO. Our kids know the money doesn't flow if they don't also work/contribute to life. We didn't work hard to create wealth so they can sit at home and play video games, etc. They have to forge their own path in life, but are lucky to know they have a safety net. But they still have to find their path in life.

Anonymous wrote:I agree with you OP. But my husband is obsessed and makes us spend a lot less than we otherwise could to support this philosophy. Well, at least my kids will get to live well even if we don’t. Frustrates me though. I’ve started referring to the money as Monopoly money because it feels fake and we “can’t” actually spend it.

Well that needs some balance. I'm not providing wealth for my kids in the future at the expense of not living life now. Anything beyond paying for college and getting them setup in first apartment is on the kids, if you cannot easily provide it. That is way more than 50%+ of people get

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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

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

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. Oh, so and so is a "pet parent". Bloody hell!!

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.

Ok. I will bite. I came to this country with enough money to buy a used car. I remember talking to insurance folks and they asked me: what is your net worth? And I said: well that car is it. I worked hard but I was also lucky. I want for my children not to need that luck.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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

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

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. Oh, so and so is a "pet parent". Bloody hell!!

Anonymous wrote:

Anonymous wrote: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.

The middle class is going to self destruct. My extended family are very low income and they do not care about the economic conditions when it comes to having children. They will get pregnant living in subsidized housing on food stamps, they don’t care. The wealthy can do whatever they want. So it is the middle class that feels the crunch so they are giving up.

Even low income households are having less children today compared to the past.

Anonymous wrote: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.

The middle class is going to self destruct. My extended family are very low income and they do not care about the economic conditions when it comes to having children. They will get pregnant living in subsidized housing on food stamps, they don’t care. The wealthy can do whatever they want. So it is the middle class that feels the crunch so they are giving up.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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.

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.

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

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

Anonymous wrote:

Anonymous wrote: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.

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.

In the years to come a lot of this wealth will end up with charities. Marriage is on the decline. Please don't tell me about all the folks in your family getting married every weekend lol. You stats 101 so you understand data, outliers etc

College grads still earn more than non college grads. Less and less men are avoiding college while more and more women are going to college. It's as if we are telling women go to college and men go to do something else I don't know the reasons. I see it with my own kids. My daughter doesn't even think about all options outside of college for her it's one way college. My son talks about various routes.

And women tend to marry men who make as much or more than men. There is a reason more and more women in their 30s are single. It's not that they don't want to get married or having kids. The reason is simple. There are not enough men to choose from. The ones available make less are underemployed etc. the ones that make more are also the ones in high demand. As a result more and more women in prime fertility years are not married. This is why the fertility rate is declining.

This is why I think a lot of this generational wealth will end up with charities etc.

Anonymous wrote:

Anonymous wrote: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.

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.

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

Anonymous wrote: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.

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.

I think we all need to pause and define what is "generational wealth"?

I am not leaving trust funds for my children so that they can afford to never work in their lives. Because that will mean an eventual decline of my family. Also, I am not that rich.

My idea of generational wealth is mainly providing for
- costs of modern age childhood,
- college until employment,
- shelter until the child/adult wants to live on their own and the math works,
- medical insurance till they are eligible and I have employment that covers it
- My own retirement and financial solvency so that my child is not burdened financially in taking care of me.

Because of my own culture, I will not consider the child launched until they are married. So let me throw in the following -
- Kid's wedding (Depending on my economic condition, it will be a wedding I can afford, not what my kid dreams about!)
- Car (because public transportation is not well-established in this country)
- Set up for a professional life - basic furnishings for an apartment, professional wardrobe

And if I was really doing well financially, I would throw in
- Help with some downpayment of a condo/apartment
- Help with childcare - labor or money.

If I have some more financial bandwidth, I will also add
- Family vacations where I covered some or all costs

And if I was quite rich
- Education for my grandkids

Super rich?
- Trust funds.
- Real estate and other assets.