In a world where no one seems immune to the impact of AI on the workforce and an increasingly tight labor market, ultra-high-net-worth people have the same concerns as middle-class and low-income families: Will my child be able to get a job and support themselves?
“Billionaires have the financial means to support their children, but sometimes they struggle to figure out what else is needed for their children to succeed,” says Tom Thiegs, executive director of leadership and legacy at Ascent Private Capital Management with US Bank, told Assets.
Millionaires and billionaires are “realizing that this is not the same game they had to play,” said wealth manager Patrick Dwyer told CNBC Earlier this year. “Families need to rethink … what it means to support their children. And we’re not talking about spoiling your children. We’re talking about: What if your child needs retraining at 33?” Dwyer is a managing director at Aligned by NewEdge Wealth, a boutique wealth management firm based in Miami. He works with clients with net assets ranging from approximately $100 million to more than $1 billion.
Dwyer said his clients are concerned that their children, typically between the ages of 22 and 35, are having difficulty securing and keeping jobs traditionally associated with security and status, including technology, law and health care. This means that the rich must plan for a future in which they pass on more of their wealth to their children.
“[They’re] They realize that if they do not pass on more meaningful wealth to their children or if their children are unable to accumulate wealth, their children might do so [less] “They have more agency over their lives than they did,” he said CNBC.
While this sounds like an irrational fear of the wealthiest Americans, it is a reality that more money managers are recognizing.
“This is a very real concern that I’m hearing right now from very wealthy families,” Thiegs said. “On the surface, it can sound irrational: ‘Why would a billionaire worry about his kid getting a job?’ But realistically, parents want their children to succeed and live fulfilling lives, no matter how much money they have.”
Why are Generation Z parents so stressed about the job market?
The job market jitters faced by Generation Z directly impact how their parents can help them plan for their financial future.
The crux of the problem, however, is not that parents fear they won’t be able to help their children financially, but rather that they fear they won’t have the same career successes and sense of fulfillment as previous generations.
“They are not typically concerned about their children’s financial security; rather, they are concerned that the job market will impact their child’s sense of purpose, identity and self-confidence,” Thiegs said. “They also fear that great wealth could dampen their willingness or desire to work.”
But that doesn’t mean Thiegs is encouraging his customers to finance their children for the foreseeable future. Instead, estate planning, investments, and other long-term financial planning are a must.
“If parents are concerned about their children’s job security, we recommend creating a system that provides opportunities for growth and development, not just a financial safety net,” he said.
It’s more important to implement plans that promote a child’s self-worth than just their wealth, he added.
Trent Von Ahsen, certified financial planner and managing partner Cedar Point Capital Partnersalso says his ultra-high-net-worth families view the risks of today’s job market less as a problem for financial stability and more as a question of whether they will make their children dependent on them indefinitely.
“This group of parents seems to be more concerned about supporting their children too much than not supporting them enough,” von Ahsen said Assets.
How does Generation Z manage to stay ahead in the job market?
The move away from traditionally high-paying white-collar jobs is already evident in the decisions that Generation Z is making. With mass layoffs in the white-collar workforce and fears of AI, many young workers are turning away from traditional corporate paths and looking for jobs that they believe will offer them more control or faster money Become creator careers to decide on it Blue-collar jobs in manufacturing, Electrical workAnd other technical work.
In some cases, Generation Z with college degrees is even there They compete for six-figure nanny and tutoring positions in elite households looking for financial “freedom” outside of a traditional office career. A 2025 Deloitte Global Survey found that only 6% of Gen Z respondents cite achieving a leadership role in the company as a primary goal. Instead, most people value work-life balance, personal fulfillment and learning.
However, this all means that billionaires and other high net worth individuals will have to plan their finances differently than they may have in the past. They need to design financial plans that “promote growth and responsibility” rather than just making large inheritances all at once, Von Ahsen said.
“We are seeing greater emphasis on education funding flexibility, mentoring and incremental asset transfers,” he said. It is “really a mindset that aims to provide opportunity without stifling initiative.
A version of this story was published on Fortune.com on February 11, 2026.