Money doesn't solve everything: The new fear of wealthy families in America

Even the wealthiest parents in the United States are currently worried about the economic future of their children. Generation Z is dealing with a slowdown in hiring for entry-level jobs, fierce competition, and the entry of artificial intelligence into roles previously performed by recent university graduates. Now, even billionaires with vast wealth are starting to ask themselves the same questions that trouble middle-class families: will their children be able to find work and support themselves with dignity?

Why are the billionaires worried?

Wealth managers in the United States explain that the concern of wealthy parents is not economic, but stems from the potential damage to their children's self-confidence and sense of purpose. Parents fear that without steady work, their children will lose their motivation and develop a permanent financial dependence on the family. Financial experts note that these parents are currently more concerned about over-supporting their children than under-supporting them, and are looking for ways to encourage them to go out to work and develop independence.

The difficulty for young people aged 22 to 35 in finding and holding onto prestigious jobs in the fields of technology, law, and healthcare is forcing wealthy families to recalculate their path. Wealth managers who work with clients with assets of 100 million to over 1 billion dollars explain that without more significant capital transfer, the younger generation will have less control over their lives. The new situation requires parents to plan long-term support in advance, such as funding professional retraining even at the age of 33.

Young people are fleeing the offices

The change in the labor market is already affecting the choices of Generation Z. Many young people are moving away from the traditional corporate path in favor of jobs that give them more control or quick money, such as the creative industry or blue-collar jobs in manufacturing and electrical work. Some graduates even compete for positions as tutors and private teachers in wealthy households for six-figure salaries. A Deloitte survey found that only 6% of young people aspire to reach a senior management position.

To deal with the new reality, wealthy families are changing the way they pass on inheritances. Instead of giving large sums of money all at once, they are focusing on building programs that encourage growth and responsibility. The new programs include phased capital transfer, flexibility in funding studies, and mentorship programs, with the goal of giving children opportunities for personal development without harming their motivation to take initiative and work.