Even the wealthiest parents in America are worried about their kids’ financial futures. Millions of Gen Zers face unemployment as entry-level hiring has slowed, competition has become fiercer, and AI takes over tasks that were historically performed by recent grads.
In a world where seemingly no one is immune to the impacts of AI on the workforce and an increasingly stiff job market, ultra-high net worth people are starting to have the same concerns as middle-class and low-income families: Will my kid be able to get a job and support themself?
“Billionaires have the financial resources to support their children, but they sometimes struggle to determine what else is needed for their children to succeed,” Tom Thiegs, managing director of leadership and legacy at Ascent Private Capital Management with U.S. Bank, told Fortune.
Millionaires and billionaires “are recognizing this is not the same game they had to play,” wealth manager Patrick Dwyer told CNBC. “Families have to rethink … what it means to support their children. And we’re not talking about spoiling your kids. We’re talking about: What if your kid needs retraining at 33?” Dwyer is managing director, Aligned by NewEdge Wealth, a boutique wealth management firm based in Miami. He works with clients with net worths between roughly $100 million and more than $1 billion.
Dwyer said his clients are concerned their children, typically between age 22 and 35, are struggling to secure and hang on to jobs that are historically associated with security and status, including technology, law, and health care. That means the wealthy will have to plan for a future in which they’re passing on more of their fortune to their kids.
“[They’re] realizing that if they don’t pass on more meaningful wealth to their children, or their children are not able to accumulate wealth … their kids could have [less] agency over their lives than they did,” he told CNBC.
While this may sound like an irrational fear from America’s wealthiest, it’s a reality more wealth managers recognize.
“This is a very real concern I’m hearing from ultra-affluent families right now,” Thiegs said. “On the surface it can sound irrational: ‘Why would a billionaire worry about their child getting a job?’ But realistically, no matter how much money you have, parents still want their children to succeed and lead fulfilled lives.”
Job market anxiety
The job market jitters Gen Zers face directly impacts how their parents can help them plan for their financial futures.
But the crux of the problem isn’t that parents fear they won’t financially be able to help their children, it’s more that they’re worried they won’t have the same career outcomes and sense of fulfillment as past generations.
“They’re not usually worried about the financial security of their children; rather they worry that the job market will impact their child’s sense of purpose, identity, and confidence,” Thiegs said. “They also worry that significant wealth will dampen their drive or desire to work.”
But that doesn’t mean Thiegs encourages his clients just to bankroll their kids for the foreseeable future. Instead, estate planning, investing, and other long-term financial planning is a must.
“When parents are worried about their children’s job security, we recommend creating a system that provides opportunities for growth and development rather than just a financial safety net,” he said.
It’s more important to implement plans that support a child’s self worth than just their net worth, he added.
Trent Von Ahsen, a certified financial planner and managing partner at Cedar Point Capital Partners, also says his ultra-high net worth families view the risks of today’s job market as less of a financial stability concern, but more about whether they’re setting their kids up to be indefinitely dependent on them.
“This cohort of parents seem more concerned about over-supporting their children, than under-supporting them,” Von Ahsen told Fortune.
How Gen Z is getting ahead of the job market
The shift away from historically high-paying, white-collar jobs is already evident in the choices Gen Z is making. Facing mass layoffs in white‑collar sectors and anxious about AI, many young workers are peeling away from traditional corporate routes in favor of jobs they think might offer more control or faster cash—from becoming creator careers to opting for blue-collar jobs in manufacturing, electrical work, and other technical work.
In some cases, college‑educated Gen Zers are even competing for six‑figure nanny and tutor roles in elite households, chasing financial “freedom” outside of a traditional office career. A 2025 Deloitte global survey found just 6% of Gen Z respondents cite reaching a corporate leadership role as a primary goal. Instead, most prioritize work‑life balance, personal fulfillment, and learning.
This all means, though, billionaires and other high-net worth individuals have to financially plan differently from how they might have in the past. They have to design financial plans that “encourage growth and responsibility” instead of only making large inheritances all at once, Von Ahsen said.
“We see more emphasis on education funding flexibility, mentorship, and phased wealth transfers,” he said. It’s “really an attitude moving toward providing opportunity without removing initiative.
