{"id":5763,"date":"2026-08-22T17:40:59","date_gmt":"2026-08-22T17:40:59","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=5763"},"modified":"2026-08-22T17:40:59","modified_gmt":"2026-08-22T17:40:59","slug":"even-billionaires-are-worried-their-gen-z-kids-cant-keep-a-job-and-their-wealth-advisors-say-the-fear-is-very-real","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=5763","title":{"rendered":"Even billionaires are worried their Gen Z kids can\u2019t keep a job\u2014and their wealth advisors say the fear is \u2018very real\u2019"},"content":{"rendered":"<div>\n<p>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?<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5758\">U.S. hits Canada with 50% tariffs, invoking a notorious Great Depression law that has never been used before to impose import taxes<\/a><\/p>\n<p>\u201cBillionaires have the financial resources to support their children, but they sometimes struggle to determine what else is needed for their children to succeed,\u201d Tom Thiegs, managing director of leadership and legacy at Ascent Private Capital Management with U.S. Bank, told <em>Fortune<\/em>.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>Millionaires and billionaires \u201care recognizing this is not the same game they had to play,\u201d wealth manager Patrick Dwyer told <em>CNBC<\/em> earlier this year. \u201cFamilies have to rethink \u2026 what it means to support their children. And we\u2019re not talking about spoiling your kids. We\u2019re talking about: What if your kid needs retraining at 33?\u201d Dwyer is managing director at 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.<\/p>\n<p>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\u2019re passing on more of their fortune to their kids.<\/p>\n<p>\u201c[They\u2019re] realizing that if they don\u2019t pass on more meaningful wealth to their children, or their children are not able to accumulate wealth \u2026 their kids could have [less] agency over their lives than they did,\u201d he told <em>CNBC<\/em>.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>While this may sound like an irrational fear from America\u2019s wealthiest, it\u2019s a reality more wealth managers recognize.<\/p>\n<p>\u201cThis is a very real concern I\u2019m hearing from ultra-affluent families right now,\u201d Thiegs said. \u201cOn the surface it can sound irrational: \u2018Why would a billionaire worry about their child getting a job?\u2019 But realistically, no matter how much money you have, parents still want their children to succeed and lead fulfilled lives.\u201d<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<h2>Why are parents of Gen Zers so stressed about the job market?<\/h2>\n<p>The job market jitters Gen Zers face directly impacts how their parents can help them plan for their financial futures.\u00a0<\/p>\n<div>\n<div><\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>But the crux of the problem isn\u2019t that parents fear they won\u2019t financially be able to help their children, it\u2019s more that they\u2019re worried they won\u2019t have the same career outcomes and sense of fulfillment as past generations.\u00a0<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>\u201cThey\u2019re not usually worried about the financial security of their children; rather they worry that the job market will impact their child\u2019s sense of purpose, identity, and confidence,\u201d Thiegs said. \u201cThey also worry that significant wealth will dampen their drive or desire to work.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5756\">The veteran Fortune 500 CEO who turned an 80-year-old AC company into an AI darling<\/a><\/p>\n<p>But that doesn\u2019t 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.\u00a0<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>\u201cWhen parents are worried about their children\u2019s job security, we recommend creating a system that provides opportunities for growth and development rather than just a financial safety net,\u201d he said.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<div>\n<div><\/div>\n<\/div>\n<p>It\u2019s more important to implement plans that support a child\u2019s self worth than just their net worth, he added.\u00a0<\/p>\n<div><!--$?--><!--\/$--><\/div>\n<p>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\u2019s job market as less of a financial stability concern, but more about whether they\u2019re setting their kids up to be indefinitely dependent on them.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>\u201cThis cohort of parents seem more concerned about over-supporting their children, than under-supporting them,\u201d Von Ahsen told <em>Fortune<\/em>.<\/p>\n<h2>How is Gen Z getting ahead of the job market?<\/h2>\n<p>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\u2011collar 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\u2014from becoming creator careers to opting for blue-collar jobs in manufacturing, electrical work, and other technical work.<\/p>\n<p>In some cases, college\u2011educated Gen Zers are even competing for six\u2011figure nanny and tutor roles in elite households, chasing financial \u201cfreedom\u201d 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\u2011life balance, personal fulfillment, and learning.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>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 \u201cencourage growth and responsibility\u201d instead of only making large inheritances all at once, Von Ahsen said.<\/p>\n<p>\u201cWe see more emphasis on education funding flexibility, mentorship, and phased wealth transfers,\u201d he said. It\u2019s \u201creally an attitude moving toward providing opportunity without removing initiative.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=5754\">Republicans say let them eat overpriced burgers, turning on Trump for \u2018flooding the market with foreign beef\u2019<\/a><\/p>\n<p><em>A version of this story was published on Fortune.com on February 11, 2026.<\/em><\/p>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>It\u2019s a \u201cvery real concern\u201d for the ultrawealthy that their children aren\u2019t prepared for the future, wealth adviser Tom Thiegs told Fortune.<\/p>\n","protected":false},"author":1,"featured_media":5762,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[93],"tags":[],"class_list":["post-5763","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gen-z"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - 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