My kids have had a much easier start (college funded, car provided, no living expenses until earning a lot) and will inherit more. So will be wealthier. Their income potential might not be as great but overall will likely be wealthier.

I grew up very middle class though - no overseas holidays etc.

no. Statistically they most likely won’t be as wealthy as us, but they certainly will never need to worry. we have planned well:

Anonymous wrote:We will let them live at home and save up until they get a decent job making at least 200k/year

Ha ha I won’t ever make that much money myself.

We will let them live at home and save up until they get a decent job making at least 200k/year

One thing that’s different for us: my and DH parents had kids young per the norm. DH family was poor, though not food insecure. My family was poor ‘by choice’ for about 4 years when my own dad went back to school after me and my siblings were born- we were on free lunch in elementary school, for example. So we lived through our parents financial struggles- but they all emerged to solidly middle class and even wealthy (my dad went on to medical school) by the time we were in high school. Those years were formative. By contrast, DH and I had kids in our late 30’s/early 40’s and we were both aggressive savers, investors and focused on career. So our kids only have the experience that we had with our parents when we were nearly adults. They’re not seeing the early trade offs and sacrifices.

That said, though they live in a nicer house than either of us grew up in, we’ve skipped the fancy vacations so far, we don’t have a housekeeper because they need to learn to take care of their space and see us doing it too. We drive modest cars. And we talk with them in age appropriate ways about budgeting. They don’t get everything they want. We’ve shown them the neighborhoods we grew up in, etc etc. still not the same and it will be interesting to see the choices they make as young adults. We will do our best to make sure they emerge from higher education with little to no debt. And will have money to help (not entirely replace) a down payment on a house. Thats how we plan to support their standard of living. This assumes that we’re not all living in a dystopian Mad Max hellscape in 10-15 years…

No I worry about them not being Able to afford healthcare.

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.

You should be raising your kids to have a strong work ethic. If you spoil them and then magically expect them to succeed as adults then it’s not going to work out well.

Anonymous wrote:No. I am frugal and my kid is even more so. Why didn't you ask yourself this question years ago? It is too late now.

Yiu are assuming the dollar will still be a thing and the constitution they will not

Being frugal won’t save you or your kid

Trump will burn the country to the grow. If you don’t know this already you have not paid attention

We are headed to a very dark time

Peter Theil and Opus day will own you. It is going to be horrifying.

People think they are immune they are not this will affect 99 percent of this country.

If you are kid the 1 percent now good luck

No. I am frugal and my kid is even more so. Why didn't you ask yourself this question years ago? It is too late now.

i’m not “worried” about it. The odds that my kids will make our income are extremely slim. We have been very open with our kids about our income and investments and they are well aware that luck, timing, and being in the right place at the right time have to all come
together. The fact that BOTH of us are very high earners who came together and have maintained this doe 2 decades without a gap in employment and each year income going up i’m guessing the odds are less than a half percent.

Yeah no way they are living that lifestyle without your money.

No. I worry about things I can control. I can make sure to provide guidance, education, college fund etc. teach kids to save invest etc. but eventually, it’s their life. They have to live it. Not mind to dictate.

Anonymous wrote:

Anonymous wrote:Yes. One kid is in biglaw so has already had a taste of the high life.

Are you actively worried about this? If so, why?

Not losing sleep, exactly, but I know enough about biglaw to understand the golden handcuffs. Of course, most young associates don't stay.

No. I grew up poor. My kids have a lifestyle I had never imagined. They also have a cushion that they will inherit something. I will inherit zero. They are in a much better position than I ever was.