This week: Prosperity Predictions

With more young adults living at home, and job security and pension planning developing Darwinian attributes even amoung the "educated" classes, it kind of makes you wonder what will become of boomers and their progeny, not to mention the in-between Xers. Rarely do you hear talk of building on the dreams of your parents; it's more like scrambling to keep past models intact. So, tell us: do you think you'll be as prosperous as your parents?

Read what others have said so far, and then tell us what you think.

A new Work & Money survey is published each Wednesday.

---

GooRoo: Perhaps a bit more better off than our parents. However, they did it with one income. Wherever the proposition came from that there should be two incomes in the household, it seems the only winner is the government -- they receive more taxes. The American family has to cope with so much more turmoil these days, and it doesn't have the option of living on one income as that would be financial suicide for most families.

AMackler: This discussion really has been going on for generations. The younger generation is always worried about what would happen if they were not as "successful" as their parents. The question that really needs to be asked is.."What is our definition of 'Success' compared to our parents?"..More money?, More consumable goods?..Actually staying married to one person?...the list could go on and on. I personally would be happy if I could be able to take care of myself and my family (including my parents eventually). Now you may ask, "But, what is your definition of 'Take care of'"....that's another topic for another time.

Twinfinity: "Prosperous"? Are you just talking about money here? Even if so, I'll probably surpass my parents, but that'd be a superficial measure of success. I'll gauge my own prosperity on how much Slack I can provide -- and stress I can eliminate -- for my family and the world. On that front, I've already outpaced my progenitors. (That's with a family living on one income -- and I just quit my job! GooRoo: Isn't everyone sick of the "American Family" already? That's one more nebulous demographic I want nothing to do with.)

johnIII: People these days are against stereotyping and being politicaly correct. So why am I put in a group of people I am not like at all? People in my school are the stereotypical teens. The drink alcohol, smoke, and pretty much do whatever they want. I, on the other hand, don't do drugs or drink. I think my future starts now. I don't think that everyone is a business owner now, and I don't think that will ever happen. The people that are messing up their future now are the people who will be miserable, making only enough money to survive. I don't want to seem greedy, but I want to have money. I want to give my kids whatever they want. I want to better my future. All these problems with society today are based on family. Families need to teach their children morals. People think their parents are cool because they let them smoke or drink. I think that is stupid and irresponsible. I believe I will be better of than my dad because he gave me morals and values that I can be pround of. My advise: Your future is now, grab it my the horns and take charge of it.

Kimmy: I was already doing better than both of my parents at age 23, if you mean how much money I make. Gripe all you want about the poor university graduate who can't find a job, education made the salary leap in my family.

TimDThomas: I determine my future by setting high goals. I determine by what date I will achieve my goals, and I figure out what I am willing to sacrifice to reach them. I am already doing better than my parents. I enjoy my family life and I am reaching my personal and financial goals too. The human mind is a most powerful and creative thing.

Supercharged: I make as much at 35 as my father did after working for 50+ years. The only way this is possible is from the sacrifices our parents made to make sure we were well educated as a society. If the trends of today continue, we will have a greater number of children that are not educated, and the next generation will not fare as well. With crime, illiteracy, and poverty rates increasing, I fear that the next generation is inheriting more problems than my generation did, and it will be tougher to surpass what their parents had to offer them.

Style: It's hard to compare our generation with our parent's. By the time my folks were my age, they had two young kids. I'm not married and don't have kids, so of course I'm better off financially than my parents were. My parents provided a strong foundation for me to start from (not just financially, but emotionally) so I have high expectations for myself. I've got a good job at a good company and have already started contributing to my 401K plan. If I end up just as successful as my parents, I'll be thrilled.

bales: Have done better in a less difficult time. Our son and daughter have done much better than we and, apparently unlike some other parents, we, my wife and I, both feel very proud of them and of their achievements in this life. Our older grandsons could be on their way to doing even better than their parents and cerainly their grandparents. THIS IS, I believe, the true "AMERICAN WAY"!

Jimsan: It depends on the definition of "better-off". In terms of the time vs. net worth tradeoff: time--better than Mom and Dad; net worth--worse than Mom (Especially after she cleaned out Dad.)

driegel: My mother stayed at home. My father worked for the phone company. So, basically, they do OK. The fact the kids were raised by the grandparents, my folks made out like bandits, no parental responsibilites at all. So, of course, they did great. On the level of $$, I've outstripped the whole crew, and managed a family to boot. I've done better than my parents on all fronts: fiscal, emotional, you name it. As others have mentioned, it really all depends on how you define "success". My daughter will face the same questions as I did. How she answers them will be her distinct contribution to how she lives her life. Whether her life is "better" will depend on her point of view, not mine.

Tygerr: If you mean monetary success; then I probably won't be as succesful as either of my parents. But then again, I've seen more of the world in my gypsy travels then they ever will, and I've experienced a lot. What that will mean when I'm in a wheelchair? WHO KNOWS???

Machievelli: I think it's a matter of your definition of success. In strict dollar terms, I don't know if I'll ever be there. In terms of what really matters, values, principles, and the like, I'm already head and shoulders above that generation. Boomers have been set up since their conception. The WWII generation gave them the best schools, the best communities, the best all-around upbringing. The boomers, in turn, sold out that foundation and placed the buck as the only seemingly credible yardstick to success. I think we need to look beyond that generation to the one before it for a true definition of what success is.