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Do you believe your children will be better off than you are?

For the first time, the majority of Americans believe that their children won't be better off than they are. If current trends continue -- in just a few categories: wages, benefits, retirement income, personal debt, job creation, job quality, job security, and costs for education, child care and health care -- they're absolutely right..

http://www.huffingtonpost.com/heather-mcghee/whos-budgeting-for-a-midd_b_859389.html?ir=Business

 
tasches

Asked by tasches at 5:08 PM on May. 10, 2011 in Money & Work

Level 48 (298,202 Credits)
This question is closed.
Answers (4)
  • wages: Can't really control
    benefit: Can't really control
    retirement income: You can control what you put into YOUR retirement account
    personal debt: You don't actually have to have debt.
    job creation, job security job quality: You can create your own job
    Costs for education: You can't control- but you can choose a cheaper school
    Child care: Lucky we can choose if we have kids and if so how many.

    I don't know- we live a debt free lifestyle. Starting in 2012 we'll be contributing regularly to our son's college fund and our retirement account. I think our son is going to be better off than us. Hopefully he'll learn from our mistakes. And I think we'll be able to give him a good boost (both with knowledge and financially) that can help him have a better life than us.

    Sadly I don't think that's the case for many Americans :( I wish we (as in America) understood that the only thing we can control is the choices we make.
    Erica_Smerica

    Answer by Erica_Smerica at 7:13 PM on May. 11, 2011

  • I agree sadly. I am trying to make sure they can go to college without the use of student loans but right now going to college doesn't mean a dang thing in the job world. people with no college education are making more money and being hired more often than college grads.
    zoejains_momma

    Answer by zoejains_momma at 5:11 PM on May. 10, 2011

  • I know that unless the gov't pulls their heads out of their asses, then my children will pay much higher taxes, but as far as quality of life, I am doing/will do everything I can to give them a better quality of life.
    hill_star03

    Answer by hill_star03 at 5:25 PM on May. 10, 2011

  • I believe that my children will be way better off than we were. I am partnered with a company that is all about financial resources. We offer a TAX FREE RETIREMENT, which incuded in the package is life ins., critical care, disability, and more. I have started one for my husband and for $40 a month, we are going to start one for each of the boys. They can withdrawl money from this for anything they want, tax free!! The money that will be in their retirements at age 28 is amazing and they can add as much as they want to it each month. I am determined to make sure they have much more than we ever did.
    RMott

    Answer by RMott at 7:23 AM on May. 12, 2011